Three Months Ended June 30,

Six Months Ended June 30,

 

2026

 

2025

 

2026

 

2025

Numerator:

Net income

$

26,025

$

10,774

$

44,582

$

16,029

Preferred stock dividends, net of gain on repurchases

(46)

(3,932)

(2,648)

(7,863)

Distributions paid to participating securities

(74)

(62)

(148)

(123)

Undistributed income allocated to participating securities

(42)

—

(36)

—

Numerator for basic and diluted net income attributable to common stockholders

$

25,863

$

6,780

$

41,750

$

8,043

Denominator:

Weighted average basic common shares outstanding

185,333

195,791

186,839

198,087

Unvested restricted stock units

217

513

258

772

Weighted average diluted common shares outstanding

185,550

196,304

187,097

198,859

Basic net income attributable to common stockholders per common share

$

0.14

$

0.03

$

0.22

$

0.04

Diluted net income attributable to common stockholders per common share

$

0.14

$

0.03

$

0.22

$

0.04