v3.26.1
CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Series C Cumulative Redeemable Preferred Stock
Common Stock
Additional Paid-in Capital
Retained Earnings (Accumulated Deficit)
Accumulated Other Comprehensive (Loss) Income
Units in the Operating Partnership
Members in Consolidated Real Estate Entities
Beginning balance at Dec. 31, 2024 $ 3,118,637 $ 425,000 $ 1,403 $ 2,437,484 $ 0 $ (8,417) $ 93,715 $ 169,452
Beginning balance (in shares) at Dec. 31, 2024     20,182,702          
Increase (Decrease) in Stockholders' Equity                
Contributions 9,925             9,925
Distributions (11,748)             (11,748)
Sale of common stock (in shares)     33,936,204          
Sale of common stock 523,392   $ 2,374 521,018        
Sale of pre-funded warrants 138,451     138,451        
Transaction costs (5,039)     (5,039)        
Issuance of unrestricted stock (in shares)     55,165          
Settlement of restricted stock units for shares of common stock 0   $ 3 (3)        
Shares withheld to satisfy tax withholding obligations (in shares)     (9,691)          
Shares withheld to satisfy tax withholding obligations (195)   $ (1) (194)        
Declared dividend (10,447) (10,094)   (157,943) 157,857   (267)  
Amortization of share/unit-based compensation 23,186     1,210     21,976  
Redemption of operating partnership units (318)     492     (810)  
Net income (loss) (166,508) 10,094     (157,857)   (4,603) (14,142)
Other comprehensive income (loss) 10,996         10,577 332 87
Ending balance at Jun. 30, 2025 3,630,332 425,000 $ 3,779 2,935,476 0 2,160 110,343 153,574
Ending balance (in shares) at Jun. 30, 2025     54,164,380          
Beginning balance at Mar. 31, 2025 3,038,385 425,000 $ 1,403 2,362,920 0 (7,074) 95,924 160,212
Beginning balance (in shares) at Mar. 31, 2025     20,198,889          
Increase (Decrease) in Stockholders' Equity                
Contributions 6,936             6,936
Distributions (6,959)             (6,959)
Sale of common stock (in shares)     33,936,203          
Sale of common stock 523,392   $ 2,374 521,018        
Sale of pre-funded warrants 138,451     138,451        
Transaction costs (5,039)     (5,039)        
Issuance of unrestricted stock (in shares)     29,740          
Settlement of restricted stock units for shares of common stock 0   $ 2 (2)        
Shares withheld to satisfy tax withholding obligations (in shares)     (452)          
Declared dividend (5,047) (5,047)   (83,149) 83,149      
Amortization of share/unit-based compensation 17,985     785     17,200  
Redemption of operating partnership units (318)     492     (810)  
Net income (loss) (86,986) 5,047     (83,149)   (2,209) (6,675)
Other comprehensive income (loss) 9,532         9,234 238 60
Ending balance at Jun. 30, 2025 3,630,332 425,000 $ 3,779 2,935,476 0 2,160 110,343 153,574
Ending balance (in shares) at Jun. 30, 2025     54,164,380          
Beginning balance at Dec. 31, 2025 $ 3,151,589 425,000 $ 529 2,548,488 0 (1,860) 111,563 67,869
Beginning balance (in shares) at Dec. 31, 2025 54,227,096   54,227,096          
Increase (Decrease) in Stockholders' Equity                
Contributions $ 10,952             10,952
Distributions (13,927)             (13,927)
Transaction costs (98)     (98)        
Issuance of unrestricted stock (in shares)     48,149          
Shares withheld to satisfy tax withholding obligations (in shares)     (7,715)          
Shares withheld to satisfy tax withholding obligations (78)     (78)        
Declared dividend (10,647) (10,094)   (157,730) 157,703   (526)  
Amortization of share/unit-based compensation 3,334     361     2,973  
Net income (loss) (153,950) 10,094     (157,703)   (2,884) (3,457)
Other comprehensive income (loss) (278)         (266) (12) 0
Ending balance at Jun. 30, 2026 $ 2,986,897 425,000 $ 529 2,390,943 0 (2,126) 111,114 61,437
Ending balance (in shares) at Jun. 30, 2026 54,267,530   54,267,530          
Beginning balance at Mar. 31, 2026 $ 3,094,626 425,000 $ 529 2,495,302 0 (3,619) 112,511 64,903
Beginning balance (in shares) at Mar. 31, 2026     54,242,024          
Increase (Decrease) in Stockholders' Equity                
Contributions 8,355             8,355
Distributions (9,972)             (9,972)
Transaction costs (16)     (16)        
Issuance of unrestricted stock (in shares)     27,795          
Shares withheld to satisfy tax withholding obligations (in shares)     (2,289)          
Shares withheld to satisfy tax withholding obligations 0     0        
Declared dividend (5,043) (5,047)   (104,568) 104,572   0  
Amortization of share/unit-based compensation 1,110     225     885  
Net income (loss) (103,703) 5,047     (104,572)   (2,331) (1,847)
Other comprehensive income (loss) 1,540         1,493 49 (2)
Ending balance at Jun. 30, 2026 $ 2,986,897 $ 425,000 $ 529 $ 2,390,943 $ 0 $ (2,126) $ 111,114 $ 61,437
Ending balance (in shares) at Jun. 30, 2026 54,267,530   54,267,530