v3.25.4
Stockholder's Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Cumulative Preferred Shares As of December 31, 2025 and 2024, we had the following series of Cumulative Redeemable Preferred Shares (“Preferred Stock”) outstanding (dollars in thousands):
December 31, 2025December 31, 2024
SeriesEarliest Redemption DateDividend RateShares OutstandingLiquidation PreferenceShares OutstandingLiquidation Preference
Series BNovember 13, 20225.875 %3,000,000 $75,000 3,000,000 $75,000 
Series CSeptember 20, 20245.625 %3,450,000 86,250 3,450,000 86,250 
Total Preferred Shares6,450,000 $161,250 6,450,000 $161,250 
Summary of the Components of Changes in Accumulated Other Comprehensive Loss
The following table summarizes the changes in our AOCI balance for the years ended December 31, 2025 and 2024, which consists solely of adjustments related to our cash flow hedges:
Year Ended December 31,
 20252024
Accumulated other comprehensive income - beginning balance
$6,746 $7,172 
Other comprehensive (loss) income before reclassifications
(782)11,932 
Amounts reclassified from accumulated other comprehensive income to interest expense(1)
(6,654)(12,364)
Net current period other comprehensive loss
(7,436)(432)
Less: other comprehensive loss attributable to noncontrolling interests
268 6 
Other comprehensive loss attributable to common stockholders
(7,168)(426)
Accumulated other comprehensive (loss) income - ending balance
$(422)$6,746 
(1)Amounts include $0.0 million and $0.2 million reclassifications from AOCI into interest expense for the years ended December 31, 2025 and 2024, respectively, related to terminated swaps. See “Note 8 – Interest Rate Derivatives” for additional information.
Schedule Of Federal Income Tax Treatment For Distributions
The following tables summarize the tax treatment of common stock dividends and preferred stock dividends per share for federal income tax purposes for the years ended December 31, 2025, 2024 and 2023:
Common Stock
Year Ended December 31,
202520242023
Ordinary Income$1.588406 79.72 %$1.546686 99.35 %$1.325610 100.00 %
Return of Capital— — %0.010068 0.65 %— — %
Capital Gain0.404116 20.28 %— — %— — %
Total$1.992522 100.00 %$1.556754 100.00 %$1.325610 100.00 %
Series B Preferred Stock
Year Ended December 31,
202520242023
Ordinary Income$1.170864 79.72 %$1.468752 100.00 %$1.468752 100.00 %
Capital Gain0.297888 20.28 %— — %— — %
Total$1.468752 100.00 %$1.468752 100.00 %$1.468752 100.00 %
Series C Preferred Stock
Year Ended December 31,
202520242023
Ordinary Income$1.121040 79.72 %$1.406252 100.00 %$1.406252 100.00 %
Capital Gain0.285212 20.28 %— — %— — %
Total$1.406252 100.00 %$1.406252 100.00 %$1.406252 100.00 %