v3.25.4
Equity of the Company and Partners' Capital of the Operating Partnership
 12 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
Equity of the Company and Partners' Capital of the Operating Partnership Equity of the Company and Partners' Capital of the Operating Partnership
Noncontrolling Interest of the Company
The equity positions of various individuals and entities that contributed their properties to the Operating Partnership in exchange for Limited Partner Units, as well as the equity positions of the holders of Limited Partner Units issued in connection with the grant of restricted limited partner Units ("RLP Units") pursuant to the Company's stock incentive plan, are collectively referred to as the "Noncontrolling Interests." An RLP Unit is a class of limited partnership interest of the Operating Partnership that is structured as a "profits interest" for U.S. federal income tax purposes and is an award that is granted under our Stock Incentive Plan (see Note 11). Generally, RLP Units entitle the holder to receive distributions from the Operating Partnership that are equivalent to the dividends and distributions that would be made with respect to the number of shares of Common Stock underlying such RLP Units, though receipt of such distributions may be delayed or made contingent on vesting. Once an RLP Unit has vested and received allocations of book income sufficient to increase the book capital account balance associated with such RLP Unit (which will initially be zero) equal to, on a per-unit basis, the book capital account balance associated with a "common" Limited Partner Unit of the Operating Partnership, it automatically becomes a common Limited Partner Unit that is convertible by the holder to one share of Common Stock or a cash equivalent, at the Company's option. Net income is allocated to the Noncontrolling Interests based on the weighted average ownership percentage during the period.
Noncontrolling Interest - Joint Venture
Our ownership interest in the Joint Venture is held through the Joint Venture Partnership with a third party partner and we concluded that we hold the power to direct the activities that most significantly impact the economic performance of the Joint Venture Partnership. As a result, we consolidate the Joint Venture Partnership and reflect our partner's interest in the Joint Venture Partnership that invests in the Joint Venture as a Noncontrolling Interest. For the years ended December 31, 2025, 2024 and 2023, our partner's share of the Joint Venture Partnership's income was $9,036, $537 and $3,949, respectively, and was reflected in the Equity in Income of Joint Venture and the Net Income Attributable to the Noncontrolling Interests line items in the Consolidated Statements of Operations. At December 31, 2025 and 2024, the Noncontrolling Interests line item in the Consolidated Balance Sheets includes our third-party partner's interest of $5,971 and $6,838, respectively.
Operating Partnership Units
The Operating Partnership has issued General Partner Units and Limited Partner Units. The General Partner Units resulted from capital contributions from the Company. The Limited Partner Units are issued in conjunction with the acquisition of certain properties as well as through the issuance of RLP Units. Subject to certain lock-up periods, holders of Limited Partner Units can redeem their Units by providing written notification to the General Partner. Unless the General Partner provides notice of a redemption restriction to the holder, redemption must be made within seven business days after receipt of the holder's notice. The redemption can be effectuated, as determined by the General Partner, either by exchanging the Limited Partner Units for shares of common stock of the Company on a one-for-one basis, subject to adjustment, or by paying cash equal to the fair market value of such shares. Prior requests for redemption have generally been fulfilled with shares of common stock of the Company, and the Operating Partnership intends to continue this practice. If each Limited Partner Unit of the Operating Partnership were redeemed as of December 31, 2025, the Operating Partnership could satisfy its redemption obligations by making an aggregate cash payment of approximately $230,860 or by issuing 4,031,088 shares of the Company's common stock.
Preferred Stock or General Partner Preferred Units
The Company has 10,000,000 shares of preferred stock authorized. As of December 31, 2025 and 2024, there were no preferred shares or general partner preferred Units outstanding.
Shares of Common Stock or Unit Contributions
The following table is a roll-forward of the Company's shares of common stock outstanding and the Operating Partnership's Units outstanding, including equity compensation awards which are discussed in Note 11, for the three years ended December 31, 2025: 
 Shares of
Common Stock
Outstanding		General Partner and Limited Partner Units Outstanding
Balance at December 31, 2022132,141,503 135,197,269 
Issuance of Service Awards and Performance Awards (as defined in Note 11)— 405,618 
Vesting of Service Awards and Performance Units (as defined in Note 11)73,840 73,840 
Retirement of Service Awards and Performance Units (as defined in Note 11)— (9,193)
Conversion of Limited Partner Units (A)
73,696 — 
Retirement of Limited Partner Units (B)
— (330)
Balance at December 31, 2023132,289,039 135,667,204 
Issuance of Service Awards and Performance Awards (as defined in Note 11)— 396,400 
Vesting of Service Awards and Performance Units (as defined in Note 11)56,646 56,646 
Retirement of Service Awards and Performance Units (as defined in Note 11)— (125,842)
Conversion of Limited Partner Units (A)
3,434 — 
Retirement of Limited Partner Units (B)
— (4,429)
Balance at December 31, 2024132,349,119 135,989,979 
Issuance of Service Awards and Performance Awards (as defined in Note 11)— 549,203 
Vesting of Service Awards and Performance Units (as defined Note 11)59,686 59,686 
Retirement of Service Awards and Performance Units (as defined in Note 11)— (97,454)
Conversion of Limited Partner Units (A)
61,521 — 
Balance at December 31, 2025132,470,326 136,501,414 
(A) For the years ended December 31, 2025, 2024 and 2023, 61,521, 3,434 and 73,696 Limited Partner Units, respectively, were converted into an equivalent number of shares of the Company's common stock, resulting in a reclassification of $1,242, $67 and $1,332, respectively, from noncontrolling interest to the Company's equity.
(B) During the years ended December 31, 2024 and 2023, 4,429 and 330 Limited Partner Units, respectively, were redeemed by a unitholder for cash and were retired by the Operating Partnership.
ATM Program
On February 24, 2023, we entered into three-year distribution agreements with certain sales agents to sell, from time to time, up to 16,000,000 shares of the Company's common stock, for up to $800,000 aggregate gross sales proceeds, through "at-the-market" offerings (the "ATM Program"). On May 8, 2025, in connection with our filing of a universal shelf registration statement on Form S-3 with the Securities and Exchange Commission and subsequent issuance of the 2031 Notes, we suspended our use of the ATM Program.
On August 21, 2025, we resumed the ATM Program by, among other things, entering into new distribution agreements with certain sales agents to sell, from time to time, up to 16,000,000 shares of the Company's common stock, for up to $800,000 aggregate gross sales proceeds, through "at-the-market" offerings under the ATM Program. Each new distribution agreement has a term expiring on May 7, 2028.
Under the terms of the ATM Program, sales are to be made through transactions that are deemed to be "at-the-market" offerings, including sales made directly on the New York Stock Exchange, sales made through a market maker other than on an exchange or sales made through privately negotiated transactions.
During the years ended December 31, 2025, 2024 and 2023, we did not issue shares of the Company's common stock under the ATM Program.
Dividends/Distributions
The following table summarizes dividends/distributions accrued during the past three years: 
 2025
Total
Dividend/
Distribution		2024
Total
Dividend/
Distribution		2023
Total
Dividend/
Distribution
Common Stock/Operating Partnership Units$243,177 $201,065 $173,255