Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Stockholders' Equity Note [Abstract]

Summary of shares issued

During the years ended December 31, 2023, 2022 and 2021, we awarded shares to our Trustees, officers and other employees of RMR as follows:

Year	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Value of Grants
2023	438,000	$	7.88	$	3,451
2022	433,500	$	6.63	$	2,874
2021	340,700	$	11.26	$	3,839

Summary of shares granted, vested, forfeited and unvested

A summary of shares awarded, vested, forfeited and unvested under the terms of the Share Award Plan for the years ended December 31, 2023, 2022 and 2021 is as follows:

	2023			2022			2021
	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value
Unvested shares, beginning of year	588,830	$	8.81	425,030	$	11.93	325,900	$	14.71
Shares awarded	438,000	$	7.88	433,500	$	6.63	340,700	$	11.26
Shares vested	(394,470)	$	9.21	(266,300)	$	10.20	(240,470)	$	14.78
Shares forfeited	(22,400)	$	8.91	(3,400)	$	12.08	(1,100)	$	12.96
Unvested shares, end of year	609,960	$	7.88	588,830	$	8.81	425,030	$	11.93

Schedule of stock repurchases

During the years ended December 31, 2023, 2022 and 2021, we purchased our common shares from our officers and certain other current and former officers and employees of RMR in satisfaction of tax withholding and payment obligations in connection with the vesting of our common shares as follows:

Year	Aggregate Number of Shares Purchased	Weighted Average Purchase Price	Value
2023	98,571	$8.14	$802
2022	69,867	$6.72	$470
2021	71,100	$11.11	$790

Schedule of distributions paid

During the years ended December 31, 2023, 2022 and 2021, we paid distributions on our common shares as follows:

	Annual Per Share Distribution	Total Distributions	Characterization of Distributions
Year			Ordinary Income	Capital Gain	Return of Capital	Qualified Dividend (1)
2023	$0.80	$132,430	9.30%	86.15%	4.55%	6.25%
2022	$0.23	$38,044	—%	—%	100.00%	—%
2021	$0.04	$6,596	—%	—%	100.00%	—%

(1)Qualified Dividends are a subset of, and included in, the Ordinary Income amount.