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Equity and Capital (Tables)
12 Months Ended
Dec. 31, 2023
Equity And Capital [Abstract]  
Summary of Terms and Conditions of Preferred Stock Outstanding

Terms and conditions of the preferred stock outstanding are summarized as follows:

 

Preferred Stock Outstanding as of December 31, 2023

 

Date of Issuance

 

Shares Issued and Outstanding

 

 

Liquidation Preference

 

 

Distribution Rate

 

Callable By Company

Series A

8/18/2023

 

 

4,600,000

 

 

$

115,000,000

 

 

6.250%

 

On demand

Series B

8/18/2023

 

 

4,400,000

 

 

 

110,000,000

 

 

5.875%

 

On or after 10/1/2024

 

 

 

 

9,000,000

 

 

$

225,000,000

 

 

 

 

 

Schedule of Partnership Units Outstanding

The Parent Company, as general partner, owned the following Partnership Units outstanding:

 

 

 

December 31,

 

(in thousands)

 

2023

 

 

2022

 

Partnership units owned by the general partner

 

 

184,581

 

 

 

171,125

 

Partnership units owned by the limited partners

 

 

1,108

 

 

 

741

 

Total partnership units outstanding

 

 

185,689

 

 

 

171,866

 

Percentage of partnership units owned by the general partner

 

 

99.4

%

 

 

99.6

%