v3.26.1
Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Reconciliation of Beginning and Ending Common Stock Outstanding
The following table provides a reconciliation of the beginning and ending shares of common stock outstanding for the six months ended June 30, 2026, and the twelve months ended December 31, 2025:
SIX MONTHS ENDED JUNE 30, 2026TWELVE MONTHS ENDED DECEMBER 31, 2025
Balance, beginning of period351,603,138 350,532,006 
Conversion of OP units to common stock— 22,228 
Shares Repurchased(9,579,095)— 
Non-vested share-based awards, net of withheld shares and forfeitures695,717 1,048,904 
Balance, end of period342,719,760 351,603,138 
Schedule of Computation of Basic and Diluted Earnings (Loss) Per Common Share
The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2026 and 2025.
THREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,
Dollars in thousands, except per share data2026202520262025
Weighted average common shares outstanding344,220,895 351,411,541 346,724,010 351,086,883 
Non-vested shares(1,920,356)(1,783,234)(1,868,234)(1,502,983)
Weighted average common shares outstanding - basic342,300,539 349,628,307 344,855,776 349,583,900 
Weighted average common shares outstanding - basic342,300,539 349,628,307 344,855,776 349,583,900 
Dilutive effect of OP Units— — — — 
Weighted average common shares outstanding - diluted342,300,539 349,628,307 344,855,776 349,583,900 
Net loss$(43,955)$(160,144)$(43,934)$(205,532)
Income allocated to participating securities(789)(783)(1,531)(1,212)
(Income) loss attributable to non-controlling interest441 2,293 364 2,808 
Adjustment to loss attributable to non-controlling interest for legally outstanding restricted units109 (395)208 (492)
Net loss applicable to common stockholders - basic and diluted$(44,194)$(159,029)$(44,893)$(204,428)
Basic earnings per common share - net loss$(0.13)$(0.45)$(0.13)$(0.58)
Diluted earnings per common share - net loss$(0.13)$(0.45)$(0.13)$(0.58)
Schedule of Stock Options, Valuation Assumptions The Company utilized a Monte Carlo simulation to calculate the weighted average grant date fair value of $24.27 for the RSU grants using the following assumptions:
Volatility25.0 %
Dividend assumptionAccrued
Expected term 3 years
Risk-free rate3.63 %
Stock price (per share)$17.13
The Company utilized a Monte Carlo simulation to calculate the weighted average grant date fair value of $8.74 for the LTIP-C grant using the following assumptions:
Volatility25.0 %
Dividend assumptionAccrued
Expected term 3 years
Risk-free rate3.63 %
Stock price (per share)$17.13
Schedule of the Activity Under the Incentive Plan and RSU Activity
The following table represents the summary of non-vested share-based awards under the Incentive Plan for the three and six months ended June 30, 2026 and 2025:
THREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,
 2026202520262025
Share-based awards, beginning of period3,809,276 2,619,942 2,565,437 1,799,737 
Granted 1
57,474 969,861 1,813,960 1,889,798 
Vested(164,749)(311,301)(492,585)(351,271)
Change in awards based on performance assessment— 22,656 (114,947)(37,106)
Forfeited— (14,027)(69,864)(14,027)
Share-based awards, end of period3,702,001 3,287,131 3,702,001 3,287,131 
1LTIP-C units in the OP are issued at the maximum number of units of the award and are reflected as such in this table until the performance conditions have been satisfied, and the exact number of awards are determinable.
Schedule of Unrecognized Compensation Cost, Nonvested Awards
The following table represents expected amortization of the Company's non-vested awards issued as of June 30, 2026:
Dollars in millionsFUTURE AMORTIZATION
of non-vested shares
2026 (remaining)$9.1 
202716.2 
20289.9 
20291.8 
2030 and thereafter0.4 
Total$37.4