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Shareholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2024
Stockholders' Equity Note [Abstract] |
Schedule of preferred stock | The following tables summarize details about the Company's preferred stock:
| Series B Preferred Stock |  | Series C Preferred Stock |  |  |  |
Par value | $ | 0.01 |  |  | $ | 0.01 |  |  |  |  |
Liquidation value | $ | 25.00 |  |  | $ | 25.00 |  |  |  |  |
| September 30, 2024 |  | December 31, 2023
| Series B Preferred Stock |  | Series C Preferred Stock |  | Series B Preferred Stock |  | Series C Preferred Stock
Shares authorized | 6,050,000 |  | 6,450,000 |  | 6,050,000 |  | 6,450,000
Shares issued and outstanding | 1,449,609 |  | 4,922,925 |  | 1,449,609 |  | 5,000,000
Balance | $ | 34,767,000 |  |  | $ | 122,851,000 |  |  | $ | 34,767,000 |  |  | $ | 124,774,000 |
Schedule of dividends declared and paid | The following table provides a summary of dividends declared and paid per share:
| Three months ended September 30, |  | Nine months ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
7.25% Series B Preferred Stock | $ | 0.453125 |  |  | $ | 0.453125 |  |  | $ | 1.359375 |  |  | $ | 1.359375 |
6.50% Series C Preferred Stock | $ | 0.406250 |  |  | $ | 0.406250 |  |  | $ | 1.218750 |  |  | $ | 1.218750 |
Schedule of share repurchase program activity | The following table provides a summary of stock repurchase activity under the Repurchase Program. There were no repurchases of the Series B Preferred Stock during the three months ended September 30, 2024.
Series C Preferred Stock |  |  |  |  |  |  |
Period | Total Number of Shares Purchased |  | Weighted Average Price Paid per Share |  | Total Number of Shares Purchased As Part of Publicly Announced Plans or Programs |  | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs (a)
July 1, 2024 through July 31, 2024 | — |  |  | $ | — |  |  | — |  |  | $ | — |
August 1, 2024 through August 31, 2024 | 30,981 |  |  | $ | 13.48 |  |  | 30,981 |  |  | $ | 9,582,000 |
September 1, 2024 through September 30, 2024 | 46,094 |  |  | $ | 13.35 |  |  | 46,094 |  |  | $ | 8,966,000 |
Total | 77,075 |  |  |  |  | 77,075 |  |  |
(a)Reflects the dollar value of shares that may yet be repurchased under the Repurchase Program announced on August 12, 2024.

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