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Dividends Declared and Paid | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Dividends Declared and Paid | Dividends Declared and Paid Common Dividends The Company suspended common share dividends beginning after the payment of the March 27, 2020 dividend due to a decline in operating performance caused by the COVID-19 pandemic. During the year ended December 31, 2022, the Company reinstated common share dividends and declared total common share dividends of $0.07 per share and distributions on LTIP units of $0.07 per unit. There were no common share dividends declared during the year ended December 31, 2021. The dividends and distributions and their tax characterization were as follows:
|  | Record Date |  | Payment Date |  | Common share distribution amount |  | LTIP unit distribution amount |  | Taxable Ordinary Income |  |  |  | Return of Capital |  | Section 199A Dividends
December | 12/30/2022 |  | 1/17/2023 |  | 0.07 |  |  | 0.07 |  |  | 0.07 |  |  |  |  | — |  |  | 0.07 |
Total 2022 |  |  |  |  | $ | 0.07 |  |  | $ | 0.07 |  |  | $ | 0.07 |  |  |  |  | $ | — |  |  | $ | 0.07 |
For the year ended December 31, 2022, 100.0% of the distributions paid to common shareholders were considered ordinary income. Preferred Dividends During the year ended December 31, 2022, the Company declared total dividends of $1.65624 per share of 6.625% Series A Cumulative Redeemable Preferred Shares. The preferred dividends and their tax characterization for the years ended December 31, 2022 and 2021 were as follows:
|  | Record Date |  | Payment Date |  | Dividend Per Preferred Share |  | Taxable Ordinary Income |  | Return of Capital |  | Section 199A Dividends
March | 3/31/2022 |  | 4/18/2022 |  | $ | 0.41406 |  |  | $ | 0.41406 |  |  | $ | — |  |  | $ | 0.41406 |
June | 6/30/2022 |  | 7/15/2022 |  | 0.41406 |  |  | 0.41406 |  |  | — |  |  | 0.41406 |
September | 9/30/2022 |  | 10/17/2022 |  | 0.41406 |  |  | 0.41406 |  |  | — |  |  | 0.41406 |
December | 12/30/2022 |  | 1/17/2023 |  | 0.41406 |  |  | 0.41406 |  |  | — |  |  | 0.41406 |
Total 2022 |  |  |  |  | $ | 1.65624 |  |  | $ | 1.65624 |  |  | $ | — |  |  | $ | 1.65624 |
|  | Record Date |  | Payment Date |  | Dividend Per Preferred Share |  | Taxable Ordinary Income |  | Return of Capital |  | Section 199A Dividends
September | 9/30/2021 |  | 10/15/2021 |  | $ | 0.48307 |  |  | $ | 0.48307 |  |  | $ | — |  |  | $ | 0.48307 |
December | 12/31/2021 |  | 1/18/2022 |  | 0.41406 |  |  | 0.41406 |  |  | — |  |  | 0.41406 |
Total 2021 |  |  |  |  | $ | 0.89713 |  |  | $ | 0.89713 |  |  | $ | — |  |  | $ | 0.89713 |
For the year ended December 31, 2022, 100.0% of the distributions paid to preferred shareholders were considered ordinary income. For the year ended December 31, 2021, 100.0% of the distributions paid to preferred shareholders were considered ordinary income.

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