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CAPITAL STOCK (Tables) | 3 Months Ended
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Mar. 31, 2024
Equity [Abstract] |
Schedule of Stock by Class | The following table provides a summary of the Company’s common shares authorized, and issued and outstanding at March 31, 2024 and December 31, 2023.
| Shares authorized |  | Shares issued and outstanding |
| March 31, 2024 |  | December 31, 2023 |  | March 31, 2024 |  | December 31, 2023 | Par Value
Common stock | 1,468,250,000 |  |  | 1,468,250,000 |  |  | 500,440,023 |  |  | 500,080,287 |  | $0.01
The following is a summary of the Company’s cumulative redeemable preferred stock outstanding at March 31, 2024 and December 31, 2023. In the event of a liquidation or dissolution of the Company, the Company’s then outstanding preferred stock takes precedence over the Company’s common stock with respect to payment of dividends and the distribution of assets.
| Shares Authorized |  | Shares Issued And Outstanding |  | Carrying Value | Contractual Rate | Earliest Redemption Date (1) | Effective Date of Floating Rate Dividend Period | Floating Annual Rate (2)
| March 31, 2024 |  | December 31, 2023 |  | March 31, 2024 |  | December 31, 2023 |  | March 31, 2024 |  | December 31, 2023
Fixed-to-floating rate
Series F | 28,800,000 |  |  | 28,800,000 |  |  | 28,800,000 |  |  | 28,800,000 |  |  | 696,910 |  |  | 696,910 |  | 6.95% | 9/30/2022 | 9/30/2022 | 3M Term SOFR + 4.993%
Series G | 17,000,000 |  |  | 17,000,000 |  |  | 17,000,000 |  |  | 17,000,000 |  |  | 411,335 |  |  | 411,335 |  | 6.50% | 3/31/2023 | 3/31/2023 | 3M Term SOFR + 4.172%
Series I | 17,700,000 |  |  | 17,700,000 |  |  | 17,700,000 |  |  | 17,700,000 |  |  | 428,324 |  |  | 428,324 |  | 6.75% | 6/30/2024 | 6/30/2024 | 3M Term SOFR + 4.989%
Total | 63,500,000 |  |  | 63,500,000 |  |  | 63,500,000 |  |  | 63,500,000 |  |  | $ | 1,536,569 |  |  | $ | 1,536,569 |  |  |  |  |
(1) Subject to the Company’s right under limited circumstances to redeem preferred stock earlier in order to preserve its qualification as a REIT or under limited circumstances related to a change in control of the Company. (2) For each series of fixed-to-floating rate cumulative redeemable preferred stock, the floating rate is calculated as 3-month CME Term SOFR (plus a spread adjustment of 0.26161%) plus the spread specified in the prospectus.
Summary of Dividend Distribution Activity | The following table provides a summary of the Company’s dividend distribution activity for the periods presented:
| For the Three Months Ended |  |
| March 31, 2024 |  | March 31, 2023 |  |  |  |
| (dollars in thousands, except per share data)
Dividends and dividend equivalents declared on common stock and share-based awards | $ | 326,872 |  |  | $ | 322,499 |  |  |  |  |
Distributions declared per common share | $ | 0.65 |  |  | $ | 0.65 |  |  |  |  |
Distributions paid to common stockholders after period end | $ | 325,286 |  |  | $ | 321,023 |  |  |  |  |
Distributions paid per common share after period end | $ | 0.65 |  |  | $ | 0.65 |  |  |  |  |
Date of distributions paid to common stockholders after period end | April 30, 2024 |  | April 28, 2023 |  |  |  |
Dividends declared to series F preferred stockholders | $ | 19,085 |  |  | $ | 17,502 |  |  |  |  |
Dividends declared per share of series F preferred stock | $ | 0.663 |  |  | $ | 0.608 |  |  |  |  |
Dividends declared to series G preferred stockholders | $ | 10,509 |  |  | $ | 6,906 |  |  |  |  |
Dividends declared per share of series G preferred stock | $ | 0.618 |  |  | $ | 0.406 |  |  |  |  |
Dividends declared to series I preferred stockholders | $ | 7,467 |  |  | $ | 7,467 |  |  |  |  |
Dividends declared per share of series I preferred stock | $ | 0.422 |  |  | $ | 0.422 |  |  |  |  |

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