Three Months Ended March 31,

 

2026

 

2025

Numerator:

Net income

$

18,557

$

5,255

Preferred stock dividends, net of gain on repurchases

(2,602)

(3,931)

Distributions paid to participating securities

(73)

(62)

Numerator for basic and diluted net income attributable to common stockholders

$

15,882

$

1,262

Denominator:

Weighted average basic common shares outstanding

188,361

200,410

Unvested restricted stock units

307

1,034

Weighted average diluted common shares outstanding

188,668

201,444

Basic net income attributable to common stockholders per common share

$

0.08

$

0.01

Diluted net income attributable to common stockholders per common share

$

0.08

$

0.01