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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes [Abstract]

Schedule of Deferred Tax Assets and Liabilities

December 31, 2022 and 2021, the components of the Company’s TRSs deferred income tax assets and liabilities were as follows (dollars in thousands):


		December 31, 2022				December 31, 2021
Deferred tax asset:
Other		$	—			$	328

Deferred tax liability:
Unrealized gain from limited partnerships		$	1,122			$	12,946
Unrealized gain from marketable securities & other			1,700				246
Total deferred tax liability		$	2,822			$	13,192
Net deferred tax liability		$	2,822			$	12,864

The net deferred tax liability balances are reflected in “Accrued expenses and other liabilities” in the accompanying Consolidated Balance Sheets for the years ended December 31, 2022 and 2021.

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, 2022, 2021 and 2020, dividends per share held for the entire year were estimated to be taxable as follows:


		2022								2021								2020
		Amount				Percentage				Amount				Percentage				Amount				Percentage
Ordinary income		$	4.44				95.03	%		$	2.43				59.18	%		$	4.00				99.98	%
Capital gains			0.23				4.78	%			1.36				33.15	%			0.00				0.02	%
Un-recaptured Section 1250 gains			0.01				0.19	%			0.31				7.67	%			0.00				0.00	%
Total		$	4.68				100	%		$	4.10				100	%		$	4.00				100	%