Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Effective Income Tax Rate Reconciliation

For the years ended December 31, 2020, 2019 and 2018, the reconciliation of income tax attributable to continuing operations for the Company’s TRS computed at the U.S. statutory rate to the income tax provision was as follows (in thousands):

	2020		2019		2018
Tax expense at U.S. statutory rates on the Company’s TRS income subject to tax	$	763	$	1,026	$	115
Valuation allowance		—		—		127
TRS income tax provision	$	763	$	1,026	$	242

Taxability Of Cash Distributions

For income tax purposes, dividends paid to holders of common stock generally consist of ordinary income, return of capital, capital gains, qualified dividends and un-recaptured Section 1250 gains, or a combination thereof. For the years ended December 31, 2020, 2019 and 2018, dividends per share held for the entire year were estimated to be taxable as follows:

	2020					2019					2018
	Amount		Percentage			Amount		Percentage			Amount		Percentage
Ordinary income	$	4.00		99.98	%	$	3.51		91.39	%	$	3.66		99.26	%
Capital gain		0.00		0.02	%		0.21		5.54	%		0.02		0.61	%
Un-recaptured Section 1250 gain		0.00		0.00	%		0.12		3.07	%		0.01		0.13	%
	$	4.00		100	%	$	3.84		100	%	$	3.69		100	%