XML 62 R46.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Stockholders' Equity (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Equity [Abstract] |
Schedule of Outstanding Preferred Stock | The Company’s outstanding Preferred Stock is detailed below (in thousands, except share data and par values):
As of June 30, 2024
Class of Preferred Stock |  | Shares Authorized |  |  | Shares Issued and Outstanding |  |  | Liquidation Preference |  |  | Dividend Rate |  |  | Annual Dividend per Depositary Share |  |  | Par Value |  |  | Optional Redemption Date
Class L |  |  | 10,350 |  |  |  | 8,902 |  |  | $ | 222,543 |  |  |  | 5.125 | % |  | $ | 1.28125 |  |  | $ | 1.00 |  |  | 8/16/2022
Class M |  |  | 10,580 |  |  |  | 10,465 |  |  |  | 261,636 |  |  |  | 5.250 | % |  | $ | 1.31250 |  |  | $ | 1.00 |  |  | 12/20/2022
Class N (1) |  |  | 1,849 |  |  |  | 1,849 |  |  |  | 92,427 |  |  |  | 7.250 | % |  | $ | 3.62500 |  |  | $ | 1.00 |  |  | N/A
|  |  |  |  |  | 21,216 |  |  | $ | 576,606 |  |  |  |  |  |  |  |  |  |  |  |
(1) In connection with the RPT Merger, the Company issued 1,849 shares of Class N Preferred Stock with a par value of $1.00 per share, represented by 1,848,539 depositary shares, which had a fair market value of $105.6 million. The Class N Preferred Stock depositary shares are convertible by the holders at an exchange ratio of 2.3071 into the Company’s common shares or under certain circumstances by the Company’s election. As of June 30, 2024, the Class N Preferred Stock was potentially convertible into 4.3 million sh ares of common stock.
As of December 31, 2023
Class of Preferred Stock |  | Shares Authorized |  |  | Shares Issued and Outstanding |  |  | Liquidation Preference |  |  | Dividend Rate |  |  | Annual Dividend per Depositary Share |  |  | Par Value |  |  | Optional Redemption Date
Class L |  |  | 10,350 |  |  |  | 8,902 |  |  | $ | 222,543 |  |  |  | 5.125 | % |  | $ | 1.28125 |  |  | $ | 1.00 |  |  | 8/16/2022
Class M |  |  | 10,580 |  |  |  | 10,465 |  |  |  | 261,636 |  |  |  | 5.250 | % |  | $ | 1.31250 |  |  | $ | 1.00 |  |  | 12/20/2022
|  |  |  |  |  | 19,367 |  |  | $ | 484,179 |  |  |  |  |  |  |  |  |  |  |  |
Summary of Dividends Declared Per Share | The following table provides a summary of the dividends declared per share:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Common Shares |  | $ | 0.24000 |  |  | $ | 0.23000 |  |  | $ | 0.48000 |  |  | $ | 0.46000 |
Class L Depositary Shares |  | $ | 0.32031 |  |  | $ | 0.32031 |  |  | $ | 0.64062 |  |  | $ | 0.64062 |
Class M Depositary Shares |  | $ | 0.32813 |  |  | $ | 0.32813 |  |  | $ | 0.65626 |  |  | $ | 0.65626 |
Class N Depositary Shares |  | $ | 0.90625 |  |  | $ | - |  |  | $ | 1.81250 |  |  | $ | - |

X
- Definition Tabular disclosure of information related to dividends declared, including paid and unpaid dividends. + References No definition available. + Details
Name: | us-gaap_DividendsDeclaredTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2 + Details
Name: | us-gaap_ScheduleOfStockholdersEquityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration