v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-In Capital
Accumulated Deficit
Accumulated Other Comprehensive Loss
Total Stockholders' Equity
Noncontrolling Interests
Beginning balance, shares at Dec. 31, 2024   157,446,697          
Beginning balance Stockholders' Equity at Dec. 31, 2024 $ 2,303,942 $ 1,564 $ 3,720,268 $ (1,458,089) $ (2,512) $ 2,261,231 $ 42,711
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock in offerings (in shares)   7,028,690          
Issuance of common stock in offerings 236,300 $ 70 236,230     236,300  
Offering costs — common stock (2,385)   (2,385)     (2,385)  
Issuance of common stock related to equity compensation plans (in shares)   24,336          
Vested restricted common stock and stock units (in shares) [1]   78,510          
Vested restricted common stock and stock units [1] (2,402) $ 4 (2,406)     (2,402)  
Amortization related to equity compensation plans 5,741   5,741     5,741  
Distributions to noncontrolling interests (1,214)           (1,214)
Adjustment to value of redeemable noncontrolling interests 205   205     205  
Distributions declared (81,316)     (81,316)   (81,316)  
Net income 3,254 [2]     3,104   3,104 150
Other comprehensive income (loss) 519       519 519  
Ending balance, shares at Jun. 30, 2025   164,578,233          
Ending balance Stockholders' Equity at Jun. 30, 2025 2,462,644 $ 1,638 3,957,653 (1,536,301) (1,993) 2,420,997 41,647
Beginning balance, shares at Mar. 31, 2025   159,065,005          
Beginning balance Stockholders' Equity at Mar. 31, 2025 2,304,488 $ 1,583 3,768,030 (1,504,861) (2,336) 2,262,416 42,072
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock in offerings (in shares)   5,451,577          
Issuance of common stock in offerings 188,634 $ 54 188,580     188,634  
Offering costs — common stock (1,843)   (1,843)     (1,843)  
Issuance of common stock related to equity compensation plans (in shares)   24,336          
Vested restricted common stock and stock units (in shares) [1]   37,315          
Vested restricted common stock and stock units [1] (513) $ 1 (514)     (513)  
Amortization related to equity compensation plans 3,190   3,190     3,190  
Distributions to noncontrolling interests (606)           (606)
Adjustment to value of redeemable noncontrolling interests 210   210     210  
Distributions declared (41,348)     (41,348)   (41,348)  
Net income 10,089 [2]     9,908   9,908 181
Other comprehensive income (loss) 343       343 343  
Ending balance, shares at Jun. 30, 2025   164,578,233          
Ending balance Stockholders' Equity at Jun. 30, 2025 2,462,644 $ 1,638 3,957,653 (1,536,301) (1,993) 2,420,997 41,647
Beginning balance, shares at Dec. 31, 2025   185,911,442          
Beginning balance Stockholders' Equity at Dec. 31, 2025 3,360,615 $ 1,852 4,880,169 (1,559,279) (2,104) 3,320,638 39,977
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock in offerings (in shares)   8,679,287          
Issuance of common stock in offerings 420,767 $ 87 420,680     420,767  
Offering costs — common stock (4,000)   (4,000)     (4,000)  
Issuance of common stock related to equity compensation plans (in shares)   22,554          
Issuance of common stock related to equity compensation plans 135   135     135  
Vested restricted common stock and stock units (in shares) [1]   75,743          
Vested restricted common stock and stock units [1] (11,020) $ 3 (11,023)     (11,020)  
Amortization related to equity compensation plans 10,625   10,625     10,625  
Contribution from noncontrolling interest 7,962           7,962
Distributions to noncontrolling interests (1,267)           (1,267)
Distributions declared (96,808)     (96,808)   (96,808)  
Net income 54,991     54,319   54,319 672
Other comprehensive income (loss) (109)       (109) (109)  
Ending balance, shares at Jun. 30, 2026   194,689,026          
Ending balance Stockholders' Equity at Jun. 30, 2026 3,741,891 $ 1,942 5,296,586 (1,601,768) (2,213) 3,694,547 47,344
Beginning balance, shares at Mar. 31, 2026   189,942,357          
Beginning balance Stockholders' Equity at Mar. 31, 2026 3,521,355 $ 1,894 5,065,446 (1,583,441) (2,224) 3,481,675 39,680
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock in offerings (in shares)   4,704,556          
Issuance of common stock in offerings 229,215 $ 48 229,167     229,215  
Offering costs — common stock (2,482)   (2,482)     (2,482)  
Issuance of common stock related to equity compensation plans (in shares)   18,158          
Vested restricted common stock and stock units (in shares) [1]   23,955          
Vested restricted common stock and stock units [1] (1,312)   (1,312)     (1,312)  
Amortization related to equity compensation plans 5,767   5,767     5,767  
Contribution from noncontrolling interest 7,962           7,962
Distributions to noncontrolling interests (672)           (672)
Distributions declared (48,933)     (48,933)   (48,933)  
Net income 30,980     30,606   30,606 374
Other comprehensive income (loss) 11       11 11  
Ending balance, shares at Jun. 30, 2026   194,689,026          
Ending balance Stockholders' Equity at Jun. 30, 2026 $ 3,741,891 $ 1,942 $ 5,296,586 $ (1,601,768) $ (2,213) $ 3,694,547 $ 47,344
[1] The amounts are shown net of common stock withheld to satisfy employee minimum tax withholding requirements in connection with the vesting of restricted common stock and stock units. See Note 11, Equity — Equity Compensation Plans, for further discussion.
[2] For the three and six months ended June 30, 2025, amounts exclude $10 and $15, respectively, of net loss attributable to redeemable noncontrolling interests.