v3.25.2
Share-Based Payments (Tables)
6 Months Ended
Jun. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award  
Summary of share-based compensation expense

Three Months Ended June 30, 

Six Months Ended June 30, 

    

2025

    

2024

X

2025

    

2024

 

(In thousands)

Time-Based LTIP Units

$

4,616

$

5,885

$

9,429

$

11,357

AO LTIP Units and Performance-Based LTIP Units

 

1,339

 

3,476

 

2,686

 

6,954

LTIP Units

 

900

 

1,552

 

900

 

1,552

Other equity awards (1)

 

1,226

 

1,168

 

2,503

 

2,212

Total share-based compensation expense

 

8,081

 

12,081

 

15,518

 

22,075

Less: amount capitalized

 

(359)

 

(590)

 

(631)

 

(1,046)

Share-based compensation expense

$

7,722

$

11,491

$

14,887

$

21,029

(1)Primarily comprising compensation expense for: (i) fully vested LTIP Units issued to certain employees in lieu of all or a portion of any cash bonuses earned, (ii) RSUs and (iii) shares issued under our ESPP.
LTIP and Time-Based LTIP Units  
Share-based Compensation Arrangement by Share-based Payment Award  
Summary of the significant assumptions of awards

Expected volatility

   

30.0 % to 36.0%

Risk-free interest rate

 

3.9% to 4.4%

Post-grant restriction periods

 

2 to 7 years

AO LTIP Units  
Share-based Compensation Arrangement by Share-based Payment Award  
Summary of the significant assumptions of awards

Expected volatility

   

32.0%

Dividend yield

 

3.9%

Risk-free interest rate

 

4.4%

ESPP  
Share-based Compensation Arrangement by Share-based Payment Award  
Summary of the significant assumptions of awards

Expected volatility

   

32.0%

Dividend yield

 

4.7%

Risk-free interest rate

 

4.4%

Expected life

3 months