v3.26.1
Consolidated Statement Of Shareholders' Equity - USD ($)
$ in Millions
Total
Total Equity
Common Stock
Additional Paid-in Capital
Distributions in Excess of Accumulated Earnings
Accumulated Other Comprehensive Income / (Loss)
Noncontrolling Interests
Beginning balance at Dec. 31, 2024 $ 259.8            
Temporary Equity              
Issuance of Series E preferred OP units 3.4            
Conversion of Series A-4 preferred stock (19.6) $ (22.0)          
Net loss (0.4)            
Distributions 2.2            
Other redeemable noncontrolling interests 3.3            
Ending balance at Mar. 31, 2025 244.3            
Beginning balance (in shares) at Dec. 31, 2024     127,400,000        
Beginning Balance at Dec. 31, 2024 7,192.8 7,452.6 $ 1.3 $ 9,864.2 $ (2,775.9) $ (7.9) $ 111.1
Shareholders' Equity              
Issuance of stock and units (in shares)     300,000        
Issuance of stock and units (0.1) 3.3   (0.1)      
Common stock withheld to satisfy income tax obligations related to vesting of restricted stock awards (in shares)     (100,000)        
Common stock withheld to satisfy income tax obligations related to vesting of restricted stock awards (8.4) (8.4)   (8.4)      
Conversions   0.0   1.2     (1.2)
Share-based compensation - amortization and forfeitures 11.0 11.0   10.9 0.1    
Adjustments to Additional Paid in Capital, Other (2.4)     (2.4)      
Other comprehensive income / (loss) 0.8 0.8       1.3 (0.5)
Net loss (41.2) (41.6)     (39.7)   (1.5)
Distributions (123.3) (125.5)     (119.9)   (3.4)
OP units accretion (3.3) 0.0     (3.3)    
Ending balance (in shares) at Mar. 31, 2025     127,600,000        
Ending Balance at Mar. 31, 2025 7,025.9 7,270.2 $ 1.3 9,865.4 (2,938.7) (6.6) 104.5
Beginning balance at Dec. 31, 2024 259.8            
Ending balance at Jun. 30, 2025 257.9            
Beginning balance (in shares) at Dec. 31, 2024     127,400,000        
Beginning Balance at Dec. 31, 2024 7,192.8 7,452.6 $ 1.3 9,864.2 (2,775.9) (7.9) 111.1
Ending balance (in shares) at Jun. 30, 2025     125,900,000        
Ending Balance at Jun. 30, 2025 7,534.2 7,792.1 $ 1.3 9,744.7 (2,380.3) 44.2 124.3
Beginning balance at Mar. 31, 2025 244.3            
Temporary Equity              
Conversion of Series A-4 preferred stock (2.0) (2.0)          
Net loss 16.2            
Distributions 2.4            
Other redeemable noncontrolling interests 1.8            
Ending balance at Jun. 30, 2025 257.9            
Beginning balance (in shares) at Mar. 31, 2025     127,600,000        
Beginning Balance at Mar. 31, 2025 7,025.9 7,270.2 $ 1.3 9,865.4 (2,938.7) (6.6) 104.5
Shareholders' Equity              
Common stock withheld to satisfy income tax obligations related to vesting of restricted stock awards (in shares)     (200,000)        
Common stock withheld to satisfy income tax obligations related to vesting of restricted stock awards (0.6) (0.6)   (0.6)      
Common stock repurchased (in shares)     (1,600,000)        
Common stock repurchased (202.8) (202.8)   (126.8) (76.0)    
Conversion of OP units (in shares)     100,000        
Conversions   0.0   1.5     (1.5)
Share-based compensation - amortization and forfeitures 5.7 5.7   5.2 0.5    
Other comprehensive income / (loss) 49.9 49.9       50.8 (0.9)
Net loss 1,314.1 1,330.3     1,276.7   37.4
Distributions (656.2) (658.6)     (641.0)   (15.2)
OP units accretion (1.8) 0.0     (1.8)    
Ending balance (in shares) at Jun. 30, 2025     125,900,000        
Ending Balance at Jun. 30, 2025 7,534.2 7,792.1 $ 1.3 9,744.7 (2,380.3) 44.2 124.3
Beginning balance at Dec. 31, 2025 255.7            
Temporary Equity              
Conversion of Series A-4 preferred stock (57.5) (54.2)          
Net loss 0.1            
Distributions 2.1            
Other redeemable noncontrolling interests 0.6            
Ending balance at Mar. 31, 2026 196.8            
Beginning balance (in shares) at Dec. 31, 2025     123,500,000        
Beginning Balance at Dec. 31, 2025 7,072.8 7,328.5 $ 1.2 9,563.1 (2,634.7) 26.5 116.7
Shareholders' Equity              
Issuance of stock and units (in shares)     200,000        
Issuance of stock and units       0.0      
Common stock withheld to satisfy income tax obligations related to vesting of restricted stock awards (in shares)     (100,000)        
Common stock withheld to satisfy income tax obligations related to vesting of restricted stock awards (6.9) (6.9)   (6.9)      
Common stock repurchased (in shares)     (400,000)        
Common stock repurchased (60.1) (60.1)   (36.9) (23.2)    
Conversion of OP units (in shares)     100,000        
Conversions 0.0 0.0   4.2     (4.2)
Share-based compensation - amortization and forfeitures 16.4 16.4   16.3 0.1    
Adjustments to Additional Paid in Capital, Other 3.3     3.3      
Other comprehensive income / (loss) (13.9) (13.9)       (14.7) 0.8
Net loss (6.4) (6.3)     (6.0)   (0.4)
Distributions (141.7) (143.8)     (138.2)   (3.5)
OP units accretion (0.6) 0.0     (0.6)    
Ending balance (in shares) at Mar. 31, 2026     123,300,000        
Ending Balance at Mar. 31, 2026 6,862.9 7,059.7 $ 1.2 9,543.1 (2,802.6) 11.8 109.4
Beginning balance at Dec. 31, 2025 255.7            
Ending balance at Jun. 30, 2026 184.0            
Beginning balance (in shares) at Dec. 31, 2025     123,500,000        
Beginning Balance at Dec. 31, 2025 $ 7,072.8 7,328.5 $ 1.2 9,563.1 (2,634.7) 26.5 116.7
Shareholders' Equity              
Common stock repurchased (in shares) (1,400,000)            
Common stock repurchased $ (171.2)            
Ending balance (in shares) at Jun. 30, 2026 2,939   122,500,000        
Ending Balance at Jun. 30, 2026 $ 5,593.6 5,777.6 $ 1.2 9,487.5 (3,971.7) 2.4 74.2
Beginning balance at Mar. 31, 2026 196.8            
Temporary Equity              
Conversion of Series A-4 preferred stock (2.6) (2.6)          
Net loss (9.1)            
Distributions 1.6            
Other redeemable noncontrolling interests 0.5            
Ending balance at Jun. 30, 2026 184.0            
Beginning balance (in shares) at Mar. 31, 2026     123,300,000        
Beginning Balance at Mar. 31, 2026 6,862.9 7,059.7 $ 1.2 9,543.1 (2,802.6) 11.8 109.4
Shareholders' Equity              
Common stock withheld to satisfy income tax obligations related to vesting of restricted stock awards (in shares)     0        
Common stock withheld to satisfy income tax obligations related to vesting of restricted stock awards $ (3.1) (3.1)   (3.1)      
Common stock repurchased (in shares) (900,000)   (1,000,000.0)        
Common stock repurchased $ (111.1) (111.1)   (69.7) (41.4)    
Conversion of OP units (in shares)     200,000        
Conversions 0.0 0.0   4.6     (4.6)
Sale of consolidated affiliates (0.8) (0.8)         (0.8)
Share-based compensation - amortization and forfeitures 12.7 12.7   12.6 0.1    
Other comprehensive income / (loss) (10.0) (10.0)       (9.4) (0.6)
Net loss (1,015.8) (1,024.9)     (990.2)   (25.6)
Distributions (140.7) (142.3)     (137.1)   (3.6)
OP units accretion $ (0.5) 0.0     (0.5)    
Ending balance (in shares) at Jun. 30, 2026 2,939   122,500,000        
Ending Balance at Jun. 30, 2026 $ 5,593.6 $ 5,777.6 $ 1.2 $ 9,487.5 $ (3,971.7) $ 2.4 $ 74.2