v3.26.1
Earnings Per Share
6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The components of the computation of basic and diluted EPS are as follows:
Three-Month Period EndedSix-Month Period Ended
(In thousands except share amounts)June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Net income (loss) attributable to common stockholders$54,403 $42,923 $149,870 $74,572 
Add: Net income (loss) attributable to Convertible Non-controlling Interests(1)
702 507 1,700 828 
Net income (loss) attributable to common stockholders and Convertible Non-controlling Interests
55,105 43,430 151,570 75,400 
Dividends declared:
Common stockholders(49,226)(37,655)(97,839)(73,507)
Convertible Non-controlling Interests(632)(441)(1,156)(821)
Total dividends declared to common stockholders and Convertible Non-controlling Interests(49,858)(38,096)(98,995)(74,328)
Undistributed (Distributed in excess of) earnings:
Common stockholders5,177 5,268 52,031 1,065 
Convertible Non-controlling Interests70 66 544 
Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests
$5,247 $5,334 $52,575 $1,072 
Weighted average shares outstanding (basic and diluted):
Weighted average shares of common stock outstanding125,637,213 95,861,993 123,685,172 93,743,500 
Weighted average Convertible Non-controlling Interest Units outstanding1,621,669 1,133,382 1,448,204 1,031,111 
Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding
127,258,882 96,995,375 125,133,376 94,774,611 
Basic earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed$0.39 $0.39 $0.78 $0.78 
Undistributed (Distributed in excess of)0.04 0.06 0.43 0.02 
$0.43 $0.45 $1.21 $0.80 
Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed$0.39 $0.39 $0.78 $0.78 
Undistributed (Distributed in excess of)0.04 0.06 0.43 0.02 
$0.43 $0.45 $1.21 $0.80 
(1)For the three-month periods ended June 30, 2026 and 2025, excludes net income (loss) of $1.3 million and $0.6 million, respectively, attributable to non-participating interests held by joint venture partners; see Note 18 for additional details. For the six-month periods ended June 30, 2026 and 2025, excludes net income (loss) of $0.1 million and $0.9 million, respectively, attributable to non-participating interests held by joint venture partners; see Note 18 for additional details.