Stockholders' Equity |
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| Stockholders' Equity | Stockholders' Equity Distributions Paid and Distributions Payable The Company paid and declared distributions per share of Common Stock in the amount of $0.40 for both the three months ended March 31, 2026 and 2025. On May 6, 2026, the Board authorized a quarterly cash dividend of $0.40 per share of Common Stock payable on June 4, 2026, to the Company’s stockholders of record as of the close of business on May 20, 2026. At-the-Market Program On August 12, 2025, the Company entered into an ATM Equity Offering Sales Agreement, or the ATM Program, through which, from time to time, the Company may offer and sell shares of Common Stock having an aggregate offering price of up to $250,000,000. During the three months ended March 31, 2026, no shares were issued under the ATM Program and as of March 31, 2026, the Company had $250,000,000 in gross sales of available capacity under the ATM Program. Share Repurchases Share Repurchase Programs On August 4, 2025, the Board authorized a share repurchase program of up to $75,000,000 in gross purchase proceeds for a period of three-years from August 4, 2025, subject to the limitation of $25,000,000 in gross purchase proceeds in any twelve-month period, or the 2025 SRP. Repurchases of Common Stock under the 2025 SRP may be made from time to time in the open market, in privately negotiated purchases, in accelerated share repurchase programs or by any other lawful means. The number of shares of Common Stock purchased and the timing of any purchases will depend on a number of factors, including the price and availability of Common Stock and general market conditions. The 2025 SRP replaced the Company’s prior share repurchase program. The Company did not repurchase any shares under the 2025 SRP during the three months ended March 31, 2026. The Company did not repurchase any shares under the prior share repurchase program during the three months ended March 31, 2025. Other Repurchases of Common Stock During the three months ended March 31, 2026, the Company repurchased 49,714 shares of Common Stock for the net settlement of withholding taxes in connection with the vesting of restricted stock and performance-based deferred stock unit awards, for an aggregate purchase price of $1,196,000 (an average of $24.08 per share). During the three months ended March 31, 2025, the Company repurchased 47,229 shares of Common Stock for the net settlement of withholding taxes in connection with the vesting of restricted stock and performance-based deferred stock unit awards, for an aggregate purchase price of $1,145,000 (an average of $24.24 per share). Accumulated Other Comprehensive Income (Loss) The following table presents a rollforward of amounts recognized in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2026 and 2025 (amounts in thousands):
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