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Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2024
Employee Benefit and Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Nonvested Share Activity
Non-vested share activity for the years ended December 31, 2024 and 2023, is as follows:
Number of
Shares
Weighted-Average Grant-Date Fair
Value Per Share
Balance at December 31, 20222,058,890 $8.70 
Granted1,191,697 7.97 
Vested(526,453)9.08 
Forfeited(184,661)6.34 
Balance at December 31, 20232,539,473 8.45 
Granted1,570,459 7.33 
Vested(425,302)10.37 
Forfeited(459,230)6.66 
Balance at December 31, 20243,225,400 $7.90 
Schedule of Share-based Compensation, Activity
During 2024 and 2023, the Company granted common shares to certain employees and trustees as follows:
20242023
Performance Shares(1)
Shares issued:
Index489,182 407,611 
Peer489,177 407,606 
Grant date fair value per share:(2)
Index$6.01 $6.96 
Peer$5.68 $6.50 
Non-Vested Common Shares:(3)
Shares issued592,100 376,480 
Grant date fair value$5,794 $4,010 
(1)The shares vest based on the Company's total shareholder return growth after a three-year measurement period relative to an index and a group of Company peers. Dividends will not be paid on these grants until earned. Once the performance criteria are met and the actual number of shares earned is determined, such shares vest immediately. During 2024, 119,519 of the 565,652 outstanding performance shares issued in 2021 vested.
(2)The fair value of grants was determined at the grant date using a Monte Carlo simulation model.
(3)The shares vest at various times over a period of time up to a three year service period commencing on the grant date.