v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Revenue from tenants $ 112,475 $ 124,905 $ 221,761 $ 257,320
Expenses:        
Property operating 13,400 12,018 26,325 25,971
Impairment charges 3,695 9,812 14,810 70,127
Merger, transaction and other costs 6,561 2,002 10,948 3,581
General and administrative 11,884 11,339 24,028 27,542
Equity-based compensation 3,942 3,338 7,984 6,431
Depreciation and amortization 41,512 45,636 83,124 101,970
Goodwill impairment 0 0 0 7,134
Total expenses 80,994 84,145 167,219 242,756
Operating income before gain (loss) on dispositions of real estate investments 31,481 40,760 54,542 14,564
Gain (loss) on dispositions of real estate investments 23,250 1,537 31,129 (141)
Operating income 54,731 42,297 85,671 14,423
Other income (expense):        
Interest expense (38,820) (53,348) (78,011) (106,785)
Loss on extinguishment and modification of debt (11,911) (4,348) (13,618) (4,766)
(Loss) gain on derivative instruments (302) (8,823) 2,763 (12,679)
Unrealized gains (losses) on undesignated foreign currency advances and other hedge ineffectiveness 1,816 (6,324) 1,816 (12,675)
Other income 276 1,683 450 1,731
Total other expense, net (48,941) (71,160) (86,600) (135,174)
Net income (loss) before income tax 5,790 (28,863) (929) (120,751)
Income tax expense (4,775) (2,995) (6,417) (6,275)
Income (loss) from continuing operations 1,015 (31,858) (7,346) (127,026)
Income (loss) from discontinued operations 2,471 7,715 5,754 (86,496)
Net income (loss) 3,486 (24,143) (1,592) (213,522)
Preferred stock dividends (10,936) (10,936) (21,872) (21,872)
Net loss attributable to common stockholders $ (7,450) $ (35,079) $ (23,464) $ (235,394)
Basic and Diluted Loss Per Share:        
Net loss per share from continuing operations, basic (in dollars per share) $ (0.05) $ (0.19) $ (0.14) $ (0.66)
Net loss per share from continuing operations, diluted (in dollars per share) (0.05) (0.19) (0.14) (0.66)
Net income (loss) per share from discontinued operations, basic (in dollars per share) 0.01 0.03 0.03 (0.38)
Net income (loss) per share from discontinued operations, diluted (in dollars per share) 0.01 0.03 0.03 (0.38)
Net loss per share attributable to common stockholders — Basic (in dollars per share) (0.04) (0.16) (0.11) (1.04)
Net loss per share attributable to common stockholders — Diluted (in dollars per share) $ (0.04) $ (0.16) $ (0.11) $ (1.04)
Weighted average common shares outstanding:        
Weighted average shares outstanding — Basic (in shares) 211,338,853 222,960,030 212,681,722 226,591,693
Weighted average shares outstanding — Diluted (in shares) 211,338,853 222,960,030 212,681,722 226,591,693