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Equity and Capital (Tables)
3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Summary of Terms and Conditions of Preferred Stock Outstanding

Terms and conditions of the preferred stock outstanding are summarized as follows:

 

Preferred Stock Outstanding as of March 31, 2024 and December 31, 2023

 

Date of Issuance

 

Shares Issued and Outstanding

 

 

Liquidation Preference

 

 

Distribution Rate

 

Callable By Company

Series A

8/18/2023

 

 

4,600,000

 

 

$

115,000,000

 

 

6.250%

 

On demand

Series B

8/18/2023

 

 

4,400,000

 

 

 

110,000,000

 

 

5.875%

 

On or after 10/1/2024

 

 

 

 

9,000,000

 

 

$

225,000,000