v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($)
$ in Thousands
Total
Total Stockholders’ Equity
Preferred Stock
Common Stock
Additional Paid-in Capital
Cumulative Distributions in Excess of Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Beginning Balance at Dec. 31, 2024 $ 8,725,979 $ 8,324,070 $ 155,676 $ 2,253 $ 8,601,276 $ (441,881) $ 6,746 $ 401,909
Beginning Balance (in shares) at Dec. 31, 2024       225,285,011        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of common stock (in shares)       9,776,768        
Issuance of common stock 478,572 478,572   $ 97 478,475      
Offering costs (974) (974)     (974)      
Share-based compensation (in shares)       263,107        
Share-based compensation 20,559 4,239   $ 3 4,236     16,320
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (in shares)       (42,515)        
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (1,706) (1,706)     (1,706)      
Conversion of OP units to common stock (in shares)       1,412,380        
Conversion of OP Units to common stock 0 58,971   $ 14 58,957     (58,971)
Net (loss) income 194,442 187,533 4,629     182,904   6,909
Other comprehensive income (loss) (5,869) (5,654)         (5,654) (215)
Preferred stock dividends (4,629) (4,629) (4,629)          
Preferred unit distributions (471)             (471)
Common stock dividends (203,332) (203,332)       (203,332)    
Common unit distributions (7,547)             (7,547)
Ending Balance at Jun. 30, 2025 9,195,024 8,837,090 155,676 $ 2,367 9,140,264 (462,309) 1,092 357,934
Ending Balance (in shares) at Jun. 30, 2025       236,694,751        
Beginning Balance at Mar. 31, 2025 9,174,746 8,803,139 155,676 $ 2,362 9,116,069 (474,550) 3,582 371,607
Beginning Balance (in shares) at Mar. 31, 2025       236,170,854        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Share-based compensation (in shares)       8,060        
Share-based compensation 10,537 2,388   $ 0 2,388     8,149
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (in shares)       (2,019)        
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (70) (70)     (70)      
Conversion of OP units to common stock (in shares)       517,856        
Conversion of OP Units to common stock 0 21,882   $ 5 21,877     (21,882)
Net (loss) income 120,394 116,334 2,315     114,019   4,060
Other comprehensive income (loss) (2,584) (2,490)         (2,490) (94)
Preferred stock dividends (2,315) (2,315) (2,315)          
Preferred unit distributions (90)             (90)
Common stock dividends (101,778) (101,778)       (101,778)    
Common unit distributions (3,816)             (3,816)
Ending Balance at Jun. 30, 2025 9,195,024 8,837,090 155,676 $ 2,367 9,140,264 (462,309) 1,092 357,934
Ending Balance (in shares) at Jun. 30, 2025       236,694,751        
Beginning Balance at Dec. 31, 2025 $ 8,838,019 8,460,563 155,676 $ 2,316 8,945,123 (642,130) (422) 377,456
Beginning Balance (in shares) at Dec. 31, 2025 231,580,135     231,580,135        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Share-based compensation (in shares)       302,553        
Share-based compensation $ 5,985 5,250   $ 3 5,247     735
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (in shares)       (617,976)        
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock $ (21,477) (21,477)   $ (6) (21,471)      
Repurchase of common stock (in shares) (8,335,664)     (8,335,664)        
Repurchase of common stock $ (300,166) (300,166)   $ (83) (300,083)      
Conversion of OP units to common stock (in shares)       60,009        
Conversion of OP Units to common stock 0 2,525   $ 0 2,525     (2,525)
Net (loss) income (429,249) (412,959) 4,629     (417,588)   (16,290)
Other comprehensive income (loss) 8,203 7,895         7,895 308
Preferred stock dividends (4,629) (4,629) (4,629)          
Preferred unit distributions (180)             (180)
Common stock dividends (195,435) (195,435)       (195,435)    
Common unit distributions (7,943)             (7,943)
Ending Balance at Jun. 30, 2026 $ 7,893,128 7,541,567 155,676 $ 2,230 8,631,341 (1,255,153) 7,473 351,561
Ending Balance (in shares) at Jun. 30, 2026 222,989,057     222,989,057        
Beginning Balance at Mar. 31, 2026 $ 8,633,706 8,255,009 155,676 $ 2,263 8,745,875 (651,692) 2,887 378,697
Beginning Balance (in shares) at Mar. 31, 2026       226,286,486        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Share-based compensation (in shares)       14,559        
Share-based compensation 1,267 2,572     2,572     (1,305)
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (in shares)       (565,390)        
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (19,382) (19,382)   $ (5) (19,377)      
Repurchase of common stock (in shares)       (2,801,307)        
Repurchase of common stock (100,056) (100,056)   $ (28) (100,028)      
Conversion of OP units to common stock (in shares)       54,709        
Conversion of OP Units to common stock 0 2,299     2,299     (2,299)
Net (loss) income (523,811) (504,146) 2,315     (506,461)   (19,665)
Other comprehensive income (loss) 4,769 4,586         4,586 183
Preferred stock dividends (2,315) (2,315) (2,315)          
Preferred unit distributions (90)             (90)
Common stock dividends (97,000) (97,000)       (97,000)    
Common unit distributions (3,960)             (3,960)
Ending Balance at Jun. 30, 2026 $ 7,893,128 $ 7,541,567 $ 155,676 $ 2,230 $ 8,631,341 $ (1,255,153) $ 7,473 $ 351,561
Ending Balance (in shares) at Jun. 30, 2026 222,989,057     222,989,057