v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
RSUs
Series A Preferred Stock
Total Stockholders’ Equity
Total Stockholders’ Equity
RSUs
Total Stockholders’ Equity
Series A Preferred Stock
Common Stock
Common Stock
RSUs
Preferred Stock
Additional Paid-in Capital
Additional Paid-in Capital
RSUs
Cumulative Earnings
Cumulative Distributions to Stockholders
Cumulative Distributions to Stockholders
Series A Preferred Stock
Non-controlling Interests
Common shares outstanding at beginning of period (in shares) at Dec. 31, 2024             48,801,690                
Stockholders’ equity at beginning of period at Dec. 31, 2024 $ 619,217     $ 619,092     $ 488   $ 82 $ 1,195,823   $ (139,556) $ (437,745)   $ 125
Preferred shares outstanding at beginning of period (in shares) at Dec. 31, 2024                 8,229,500            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income (loss) (7,015)     (7,015)               (7,015)      
Repurchase of common stock (in shares)             (878,784)                
Repurchase of common stock (2,525)     (2,525)     $ (9)     (2,516)          
Preferred dividends declared     $ (3,600)     $ (3,600)               $ (3,600)  
Common dividends declared (2,591)     (2,591)                 (2,591)    
Repurchase of common stock for tax withholding on vestings (in shares)               (380,163)              
Repurchase of common stock for tax withholding on vestings   $ (1,102)     $ (1,102)     $ (4)     $ (1,098)        
Non-cash equity award compensation (in shares)             846,354                
Non-cash equity award compensation 2,410     2,410     $ 9     2,401          
Common shares outstanding at end of period (in shares) at Mar. 31, 2025             48,389,097                
Stockholders’ equity at end of period at Mar. 31, 2025 604,794     604,669     $ 484   $ 82 1,194,610   (146,571) (443,936)   125
Preferred shares outstanding at end of period (in shares) at Mar. 31, 2025                 8,229,500            
Common shares outstanding at beginning of period (in shares) at Dec. 31, 2024             48,801,690                
Stockholders’ equity at beginning of period at Dec. 31, 2024 619,217     619,092     $ 488   $ 82 1,195,823   (139,556) (437,745)   125
Preferred shares outstanding at beginning of period (in shares) at Dec. 31, 2024                 8,229,500            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income (loss) (20,378)                            
Preferred dividends declared     (7,200)                        
Common shares outstanding at end of period (in shares) at Jun. 30, 2025             47,394,519                
Stockholders’ equity at end of period at Jun. 30, 2025 584,329     584,204     $ 474   $ 82 1,193,711   (159,934) (450,129)   125
Preferred shares outstanding at end of period (in shares) at Jun. 30, 2025                 8,229,500            
Common shares outstanding at beginning of period (in shares) at Mar. 31, 2025             48,389,097                
Stockholders’ equity at beginning of period at Mar. 31, 2025 604,794     604,669     $ 484   $ 82 1,194,610   (146,571) (443,936)   125
Preferred shares outstanding at beginning of period (in shares) at Mar. 31, 2025                 8,229,500            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income (loss) (13,363)     (13,363)               (13,363)      
Repurchase of common stock (in shares)             (1,250,000)                
Repurchase of common stock (3,137)     (3,137)     $ (13)     (3,124)          
Preferred dividends declared     $ (3,601)     (3,601)               (3,601)  
Common dividends declared (2,592)     (2,592)                 (2,592)    
Repurchase of common stock for tax withholding on vestings (in shares)             (7,279)                
Non-cash equity award compensation (in shares)             262,701                
Non-cash equity award compensation 2,228     2,228     $ 3     2,225          
Common shares outstanding at end of period (in shares) at Jun. 30, 2025             47,394,519                
Stockholders’ equity at end of period at Jun. 30, 2025 $ 584,329     584,204     $ 474   $ 82 1,193,711   (159,934) (450,129)   125
Preferred shares outstanding at end of period (in shares) at Jun. 30, 2025                 8,229,500            
Common shares outstanding at beginning of period (in shares) at Dec. 31, 2025 47,563,643           47,563,643                
Stockholders’ equity at beginning of period at Dec. 31, 2025 $ 552,812     552,687     $ 476   $ 82 1,195,279   (180,708) (462,442)   125
Preferred shares outstanding at beginning of period (in shares) at Dec. 31, 2025     8,229,500           8,229,500            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income (loss) (2,426)     (2,426)               (2,426)      
Repurchase of common stock (in shares)             (172,313)                
Repurchase of common stock (306)     (306)     $ (2)     (304)          
Preferred dividends declared     $ (3,601)     (3,601)               (3,601)  
Common dividends declared (2,609)     (2,609)                 (2,609)    
Repurchase of common stock for tax withholding on vestings (in shares)             (537,929)                
Repurchase of common stock for tax withholding on vestings (912)     (912)     $ (5)     (907)          
Non-cash equity award compensation (in shares)             1,066,224                
Non-cash equity award compensation 910     910     $ 10     900          
Common shares outstanding at end of period (in shares) at Mar. 31, 2026             47,919,625                
Stockholders’ equity at end of period at Mar. 31, 2026 $ 543,868     543,743     $ 479   $ 82 1,194,968   (183,134) (468,652)   125
Preferred shares outstanding at end of period (in shares) at Mar. 31, 2026                 8,229,500            
Common shares outstanding at beginning of period (in shares) at Dec. 31, 2025 47,563,643           47,563,643                
Stockholders’ equity at beginning of period at Dec. 31, 2025 $ 552,812     552,687     $ 476   $ 82 1,195,279   (180,708) (462,442)   125
Preferred shares outstanding at beginning of period (in shares) at Dec. 31, 2025     8,229,500           8,229,500            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income (loss) $ (60,835)                            
Preferred dividends declared     $ (7,200)                        
Common shares outstanding at end of period (in shares) at Jun. 30, 2026 48,198,166           48,198,166                
Stockholders’ equity at end of period at Jun. 30, 2026 $ 480,397     480,272     $ 482   $ 82 1,196,075   (241,543) (474,824)   125
Preferred shares outstanding at end of period (in shares) at Jun. 30, 2026     8,229,500           8,229,500            
Common shares outstanding at beginning of period (in shares) at Mar. 31, 2026             47,919,625                
Stockholders’ equity at beginning of period at Mar. 31, 2026 543,868     543,743     $ 479   $ 82 1,194,968   (183,134) (468,652)   125
Preferred shares outstanding at beginning of period (in shares) at Mar. 31, 2026                 8,229,500            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income (loss) (58,409)     (58,409)               (58,409)      
Preferred dividends declared     $ (3,600)     $ (3,600)               $ (3,600)  
Common dividends declared (2,572)     (2,572)                 (2,572)    
Non-cash equity award compensation (in shares)             278,541                
Non-cash equity award compensation $ 1,110     1,110     $ 3     1,107          
Common shares outstanding at end of period (in shares) at Jun. 30, 2026 48,198,166           48,198,166                
Stockholders’ equity at end of period at Jun. 30, 2026 $ 480,397     $ 480,272     $ 482   $ 82 $ 1,196,075   $ (241,543) $ (474,824)   $ 125
Preferred shares outstanding at end of period (in shares) at Jun. 30, 2026     8,229,500           8,229,500