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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Activity
The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value:

Six Months Ended June 30,
Restricted Shares and Performance Based Shares20242023
Expected quarterly dividends per share$0.3875 $0.3675 
Risk-free interest rate4.27 %4.46 %
Market-Based Shares
Dividend yield4.21 %N/A
Expected volatility13.09 %N/A
Risk-free interest rate4.31 %N/A

The following table summarizes activity in restricted stock awards, including performance-based and market-based shares for the six months ended June 30, 2024:
Restricted Stock
SharesWeighted-
Average
Grant Date Fair Value
Outstanding at December 31, 2023
212,080 $40.33 
Granted
239,982 32.43 
Released(165,583)38.27 
Forfeited
— — 
Outstanding at June 30, 2024286,479 $34.91 
The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares:
Six Months Ended June 30,
Restricted Stock20242023
Weighted-average grant date fair value$32.43 $45.00 
Total fair value of restricted shares that vested (in thousands)$6,180 $9,622