v3.26.1
Income Taxes - Reconciliation of Tax Rate (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Reconciliation of statutory tax to effective tax    
Federal statutory tax rate $ 11,230 $ 25,172
REIT and other non-taxable income (8,509) (22,203)
State and local income taxes, net of federal effect 742 771
Intra-entity transfers (7,522) 0
Other 114 26
Effective tax rate $ (3,945) $ 3,766
Reconciliation of statutory tax rate to effective tax rate    
Federal statutory tax rate 21.00% 21.00%
REIT and other non-taxable income (15.90%) (18.50%)
State and local income taxes, net of federal effect 1.40% 0.60%
Intra-entity transfers (14.10%) 0.00%
Other 0.20% 0.00%
Effective tax rate (7.40%) 3.10%