v3.25.2
Condensed Consolidated Statements of Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Class A Common Stock
Class B Common Stock
Total Stockholders' Equity
Common Stock
Class A Common Stock
Common Stock
Class B Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income
Retained Earnings (Deficit)
Non-controlling Interests
Private Perpetual Preferred Units
Beginning balance (in shares) at Dec. 31, 2023         162,062 984          
Beginning balance at Dec. 31, 2023 $ 1,731,045     $ 985,518 $ 1,621 $ 10 $ 1,060,969 $ 6,026 $ (83,108) $ 715,587 $ 29,940
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Conversion of operating partnership units and Class B shares to Class A shares (in shares)         2,265 (2)          
Conversion of operating partnership units and Class B shares to Class A shares 0     9,098 $ 22   9,073 3   (9,098)  
Repurchases of common shares (in shares)         0            
Repurchases of common shares 0     0 $ 0   0        
Acquisition of non-controlling interest in other partnership (15,297)     114     (1,805) 1,919   (15,411)  
Equity compensation:                      
LTIP units 9,556                 9,556  
Restricted stock, net of forfeitures (in shares)         156            
Restricted stock, net of forfeitures 281     281 $ 2   279        
Dividends and distributions (21,199)     (11,552)         (11,552) (7,546) (2,101)
Net income 38,770     22,732         22,732 13,937 2,101
Other comprehensive income (loss) 8,060     5,088       5,088   2,972  
Ending balance (in shares) at Jun. 30, 2024         164,483 982          
Ending balance at Jun. 30, 2024 1,751,216     1,011,279 $ 1,645 $ 10 1,068,516 13,036 (71,928) 709,997 29,940
Beginning balance (in shares) at Mar. 31, 2024         163,816 982          
Beginning balance at Mar. 31, 2024 1,724,734     996,122 $ 1,638 $ 10 1,066,030 11,656 (83,212) 698,672 29,940
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Conversion of operating partnership units and Class B shares to Class A shares (in shares)         697 0          
Conversion of operating partnership units and Class B shares to Class A shares 0     1,966 $ 7   1,945 14   (1,966)  
Repurchases of common shares (in shares)         0            
Repurchases of common shares 0     0 $ 0   0   0    
Equity compensation:                      
LTIP units 5,847                 5,847  
Restricted stock, net of forfeitures (in shares)         (30)            
Restricted stock, net of forfeitures 541     541 $ 0   541        
Dividends and distributions (10,647)     (5,787)         (5,787) (3,809) (1,051)
Net income 28,555     17,071         17,071 10,433 1,051
Other comprehensive income (loss) 2,186     1,366       1,366   820  
Ending balance (in shares) at Jun. 30, 2024         164,483 982          
Ending balance at Jun. 30, 2024 1,751,216     1,011,279 $ 1,645 $ 10 1,068,516 13,036 (71,928) 709,997 29,940
Beginning balance (in shares) at Dec. 31, 2024   166,405 978   166,405 978          
Beginning balance at Dec. 31, 2024 1,781,962     1,030,696 $ 1,664 $ 10 1,077,976 9,934 (58,888) 721,326 29,940
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Conversion of operating partnership units and Class B shares to Class A shares (in shares)         2,075 (3)          
Conversion of operating partnership units and Class B shares to Class A shares 0     9,986 $ 21   9,869 96   (9,986)  
Repurchases of common shares (in shares)         (310)            
Repurchases of common shares (2,148)     (2,148) $ (3)   (1,992)   (153)    
Equity compensation:                      
LTIP units 10,774                 10,774  
Restricted stock, net of forfeitures (in shares)         131            
Restricted stock, net of forfeitures 207     207 $ 1   206        
Dividends and distributions (21,589)     (11,799)         (11,799) (7,689) (2,101)
Net income 27,163     15,739         15,739 9,323 2,101
Other comprehensive income (loss) (7,121)     (4,472)       (4,472)   (2,649)  
Ending balance (in shares) at Jun. 30, 2025   168,301 975   168,301 975          
Ending balance at Jun. 30, 2025 1,789,248     1,038,209 $ 1,683 $ 10 1,086,059 5,558 (55,101) 721,099 29,940
Beginning balance (in shares) at Mar. 31, 2025         167,094 976          
Beginning balance at Mar. 31, 2025 1,785,875     1,032,060 $ 1,671 $ 10 1,079,194 6,733 (55,548) 723,875 29,940
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Conversion of operating partnership units and Class B shares to Class A shares (in shares)         1,540 (1)          
Conversion of operating partnership units and Class B shares to Class A shares 0     8,401 $ 16   8,322 63   (8,401)  
Repurchases of common shares (in shares)         (310)            
Repurchases of common shares (2,148)     (2,148) $ (3)   (1,992)   (153)    
Equity compensation:                      
LTIP units 6,364                 6,364  
Restricted stock, net of forfeitures (in shares)         (23)            
Restricted stock, net of forfeitures 534     534 $ (1)   535        
Dividends and distributions (10,806)     (5,919)         (5,919) (3,836) (1,051)
Net income 11,385     6,519         6,519 3,815 1,051
Other comprehensive income (loss) (1,956)     (1,238)       (1,238)   (718)  
Ending balance (in shares) at Jun. 30, 2025   168,301 975   168,301 975          
Ending balance at Jun. 30, 2025 $ 1,789,248     $ 1,038,209 $ 1,683 $ 10 $ 1,086,059 $ 5,558 $ (55,101) $ 721,099 $ 29,940