v3.26.1
Equity-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Information about RSUs, LTIP Units and AIP
The following table presents information about the Company’s RSUs and LTIP Units during the six months ended June 30, 2026 and 2025:
Restricted Stock UnitsLTIP Units
UnitsWtd. Avg. Grant Date Fair ValueUnitsWtd. Avg. Grant Date Fair Value
Unvested, January 1, 2025953,401 $32.87 — $— 
Granted355,875 34.25 221,983 38.39 
Vested(464,287)32.86 — — 
Forfeited(7,803)28.57 — — 
Unvested, June 30, 2025837,186 $33.50 221,983 $38.39 
Unvested, January 1, 2026789,213 $33.59 189,410 $38.39 
Granted406,821 35.71 310,550 37.71 
Vested(601,959)33.70 (18,940)30.90 
Forfeited(3,090)31.67 — — 
Unvested, June 30, 2026590,985 $34.95 481,020 $38.25 
The following table presents information about the Company’s RSUs, LTIP Units and AIP for the periods presented:
Three months ended June 30,Six months ended June 30,
(in thousands)2026202520262025
Compensation cost recognized in general and administrative expense$3,461 $3,496 $7,459 $7,464 
Dividend equivalents and distributions declared and charged directly to distributions in excess of cumulative earnings377 229 739 455 
Fair value of units vested during the period811 616 20,869 15,255 
Schedule of Performance-Based RSU and LTIP Unit Grants at Target
The following table summarizes the Company’s performance-based RSU and LTIP Unit grants at target during the relevant periods:
20262025202420232022
Performance-based RSU grants— 6,840 149,936 147,587 149,699 
Performance-based LTIP Unit grants173,056 133,191 — — — 
Total performance-based grants173,056 140,031 149,936 147,587 149,699 
Schedule of Grant Date Fair Value of the TSR RSUs and LTIP Units
The grant date fair values of the TSR RSUs and LTIP Units were measured using a Monte Carlo simulation model based on the following assumptions:
Grant Year
20262025
Volatility21%24%
Risk free rate3.50%4.50%
Schedule of Service-Based Vesting RSU and LTIP Unit Grants
The following table summarizes the Company’s service-based vesting RSU and LTIP Unit grants during the relevant periods:
20262025202420232022
RSU grants104,911 102,892 179,187 210,406 199,793 
LTIP Unit grants137,494 88,792 — — — 
Total grants242,405 191,684 179,187 210,406 199,793 
Schedule of Unrecognized Compensation Cost
The following table presents information about the Company’s RSUs, LTIP Units and AIP as of the dates presented:
(Dollars in thousands)June 30, 2026December 31, 2025
Total unrecognized compensation cost$24,384 $23,492 
Weighted average period over which compensation cost will be recognized (in years)2.72.5