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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
INCOME TAXES |
Schedule of allocation of distributions made to stockholders | ​ The approximate allocation of the distributions made to stockholders is as follows for the years indicated: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, | ​
​ |  | 2023 |  | 2022 |  | 2021
Ordinary income (a) | ​ | 53 | % | ​ | 54 | % | ​ | 43 | %
Capital gains | ​ | 47 | ​ | ​ | 46 | ​ | ​ | 57 | ​
​ | ​ | 100 | % | ​ | 100 | % | ​ | 100 | %
(a) | In 2023, 2022 and 2021, the ordinary income portion of the distributions are considered qualified REIT dividends and will be taxed at a rate reduced by up to 20% pursuant to Internal Revenue Code Section 199A.
​
Schedule of reconciliation of dividends declared with the dividends paid deduction | ​ The following table reconciles dividends declared with the dividends paid deduction for the years indicated (amounts in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
​ | ​ | Estimate | ​ | Actual | ​ | Actual
Dividends declared | ​ | $ | 38,116 | ​ | $ | 37,915 | ​ | $ | 37,478
Dividend reinvestment plan (a) | ​ |  | 157 | ​ |  | 102 | ​ |  | 35
​ | ​ |  | 38,273 | ​ |  | 38,017 | ​ |  | 37,513
Less: Spillover dividends designated to previous year | ​ |  | (4,240) | ​ |  | — | ​ |  | —
Less: Spillover dividends designated to following year | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2,085)
Plus: Dividends designated from prior year | ​ | ​ | — | ​ | ​ | 2,085 | ​ | ​ | 9,261
Plus: Dividends designated from following year | ​ |  | 737 | ​ |  | 4,240 | ​ |  | —
Dividends paid deduction | ​ | $ | 34,770 | ​ | $ | 44,342 | ​ | $ | 44,689
(a) | Reflects the discount on common stock purchased through the dividend reinvestment plan of 3%.

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