v3.26.1
Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Redeemable noncontrolling interests
Common Stock
Additional paid-in capital
Accumulated deficit
Accumulated other comprehensive income
Noncontrolling interests
Redeemable noncontrolling interests, beginning balance at Dec. 31, 2022   $ 2,034          
Redeemable noncontrolling interests, ending balance at Dec. 31, 2023   2,179          
Beginning balance (in shares) at Dec. 31, 2022     198,044,000        
Total equity, beginning balance at Dec. 31, 2022 $ 1,788,681   $ 198 $ 1,763,061 $ (114,680) $ 56,094 $ 84,008
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Repurchases of common shares (in shares)     (5,811,000)        
Repurchases of common shares (50,883)   $ (6) (50,877)      
Deferred shareholder servicing fees (2,784)       (2,784)    
Amortization on derivatives previously designated as hedges and other changes in Accumulated other comprehensive income (loss), net of tax (10,162)         (10,162)  
Buyout of noncontrolling interests (864)     757     (1,621)
Contributions from noncontrolling interests, net 144,860           144,860
Distributions to noncontrolling interests (15,748)           (15,748)
Share-based compensation expense (in shares)     22,000        
Share-based compensation expense 9,486     9,486      
Net income (loss) (176,406)       (79,471)   (96,935)
Ending balance (in shares) at Dec. 31, 2023     197,749,000        
Total equity, ending balance at Dec. 31, 2023 $ 1,623,540   $ 198 1,770,060 (306,525) 45,932 113,875
Redeemable noncontrolling interests, ending balance at Dec. 31, 2024   1,851          
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Repurchases of common shares (in shares) (844,000)   (416,000)        
Repurchases of common shares $ (3,339)     (3,339)      
Deferred shareholder servicing fees 825       825    
Amortization on derivatives previously designated as hedges and other changes in Accumulated other comprehensive income (loss), net of tax (10,995)         (10,995)  
Buyout of noncontrolling interests (563)     (449)     (114)
Contributions from noncontrolling interests, net 83,932           83,932
Distributions to noncontrolling interests (19,189)           (19,189)
Share-based compensation expense (in shares)     25,000        
Share-based compensation expense (4,003)     (4,003)      
Net income (loss) $ (305,940)       (242,300)   (63,640)
Ending balance (in shares) at Dec. 31, 2024 199,326,000   199,326,000        
Total equity, ending balance at Dec. 31, 2024 $ 1,339,218   $ 199 1,773,758 (584,733) 34,937 115,057
Redeemable noncontrolling interests, ending balance at Mar. 31, 2025   1,851          
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Repurchases of common shares (in shares)     (139,000)        
Repurchases of common shares (1,171)     (1,171)      
Deferred shareholder servicing fees 2       2    
Amortization on derivatives previously designated as hedges and other changes in Accumulated other comprehensive income (loss), net of tax (1,247)         (1,247)  
Contributions from noncontrolling interests, net 2,132           2,132
Distributions to noncontrolling interests (3,811)           (3,811)
Share-based compensation expense (in shares)     (11,000)        
Share-based compensation expense 3,493     1,743     1,750
Net income (loss) (40,654)       (15,586)   (25,068)
Ending balance (in shares) at Mar. 31, 2025     199,176,000        
Total equity, ending balance at Mar. 31, 2025 $ 1,297,962   $ 199 1,774,330 (600,317) 33,690 90,060
Redeemable noncontrolling interests, beginning balance at Dec. 31, 2024   1,851          
Redeemable noncontrolling interests, ending balance at Dec. 31, 2025   $ 0          
Beginning balance (in shares) at Dec. 31, 2024 199,326,000   199,326,000        
Total equity, beginning balance at Dec. 31, 2024 $ 1,339,218   $ 199 1,773,758 (584,733) 34,937 115,057
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Repurchases of common shares (in shares) (421,000)   (421,000)        
Repurchases of common shares $ (2,463)     (2,463)      
Deferred shareholder servicing fees 2,120       2,120    
Amortization on derivatives previously designated as hedges and other changes in Accumulated other comprehensive income (loss), net of tax (8,390)         (8,390)  
Buyout of noncontrolling interests (1,748)     1,484     (3,232)
Contributions from noncontrolling interests, net 56,049           56,049
Distributions to noncontrolling interests (19,318)           (19,318)
Share-based compensation expense (in shares)     480,000        
Share-based compensation expense 11,412     9,351     2,061
Net income (loss) $ (215,012)       (194,645)   (20,367)
Ending balance (in shares) at Dec. 31, 2025 199,379,000   199,379,000        
Total equity, ending balance at Dec. 31, 2025 $ 1,135,900   $ 199 1,779,303 (777,258) 26,547 107,109
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Repurchases of common shares (in shares) (53,000)   (53,000)        
Repurchases of common shares $ (204)     (204)      
Deferred shareholder servicing fees 308       308    
Amortization on derivatives previously designated as hedges and other changes in Accumulated other comprehensive income (loss), net of tax (795)         (795)  
Buyout of noncontrolling interests (2,030)     5,452     (7,482)
Syndication costs (422)           (422)
Distributions to noncontrolling interests (2,559)           (2,559)
Share-based compensation expense (in shares)     5,000        
Share-based compensation expense 1,870     1,795     75
Net income (loss) $ (27,514)       (27,326)   (188)
Ending balance (in shares) at Mar. 31, 2026 199,331,000   199,331,000        
Total equity, ending balance at Mar. 31, 2026 $ 1,104,554   $ 199 $ 1,786,346 $ (804,276) $ 25,752 $ 96,533