v3.26.1
Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity Under Plan
The following table summarizes stock option activity under the 2012 Plan and 2021 Plan for the six months ended June 30, 2026 and 2025:
For the Six Months Ended
June 30,
20262025
Options outstanding at beginning of period190,500 329,500 
Granted— — 
Exercised(54,750)(84,000)
Forfeited— — 
Options outstanding at end of period135,750 245,500 
Options exercisable at end of period135,750 245,500 
Schedule of Restricted Share Units Activity Under Plan
The following table summarizes RSU activity under the 2021 Plan for the six months ended June 30, 2026 and 2025:
For the Six Months Ended
June 30,
20262025
RSUs outstanding at beginning of period1,108,279 1,187,544 
Granted576,903 467,166 
Vested(456,041)(540,836)
Forfeited(44,869)(16,089)
RSUs outstanding at end of period1,184,272 1,097,785 
Schedule of Performance Share Units Activity Under Plan
The following table summarizes PSU activity under the 2021 Plan for the six months ended June 30, 2026 and 2025:
For the Six Months Ended
June 30,
20262025
PSUs outstanding at beginning of period (1)
700,773 677,298 
Granted (1)
313,175 227,616 
Adjustment for performance achievement (2)
103,585 170,757 
Vested(327,135)(370,854)
Forfeited (1)
(9,189)(2,520)
PSUs outstanding at end of period (1)
781,209 702,297 
(1)Represents target shares at grant date.
(2)Represents the difference between the number of target shares at grant date and the number of actual shares earned for the three-year performance periods ended December 31, 2025 and 2024, which was determined and vested during the six months ended June 30, 2026 and 2025, respectively.
Schedule of PSU TSR Valuation Assumptions
For the TSR Awards, the following assumptions were used in the calculation of fair value using the Monte Carlo simulation model:
For the Six Months Ended
June 30,
20262025
Expected term (years)3.03.0
Dividend yield4.47%2.83%
Estimated volatility (1)
26.04%22.48%
Risk-free interest rate3.61%4.49%
(1)Estimated volatility for the performance period is based on 50% historical volatility and 50% implied volatility.
Schedule of Noncash Share-Based Compensation Expense The following table summarizes the activity related to the Company’s noncash share-based compensation expense for the three and six months ended June 30, 2026 and 2025 (amounts in thousands):
For the Three Months Ended
June 30,		For the Six Months Ended
June 30,
2026202520262025
General and administrative expense$4,323 $3,987 $8,768 $8,854 
Property management expenses1,067 1,137 2,188 2,383 
Acquisition, disposition and other transaction costs1,255 1,349 2,449 2,897 
Total noncash share-based compensation expense$6,645 $6,473 $13,405 $14,134