v3.26.1
Equity (Tables)
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Schedule of Quarterly Share Repurchase Limits
The quarterly share repurchases limits for the SRP are set forth below:
Quarter EndingShare Repurchase Limit(s)
September 30, 2021, and each quarter thereafter
During any 12-month period, 20.00% of the weighted average number of outstanding shares
During any fiscal quarter, 5.00% of the weighted average number of shares outstanding in the prior four fiscal quarters
Schedule of Shares Issued, Repurchased and Outstanding
The following table is a summary of the shares issued, participating and repurchased during the period and outstanding as of December 31, 2025 and 2024:
(in thousands)Class AClass CClass IClass P-AClass P-IClass P-DClass P-SClass P-TClass EOTotal
Shares outstanding as of December 31, 202315,809 2,706 6,533 850 124,039 192 44,514 249 3,730 198,622 
Shares issued through reinvestment of distributions 140 33 84 13 390 1 204 3 — 868 
Shares repurchased(70)(19)(51)(3)(561)— (83)— (57)(844)
Shares transferred — — — — 121 — (121)— — — 
Other capital activity— — — — 357 — — — 323 680 
Shares outstanding as of December 31, 202415,879 2,720 6,566 860 124,346 193 44,514 252 3,996 199,326 
Shares repurchased (195)(11)(21)— (158)— (36)— — (421)
Shares transferred — — — — 446 — (452)— — (6)
Other capital activity— — — — 480 — — — — 480 
Shares outstanding as of December 31, 202515,684 2,709 6,545 860 125,114 193 44,026 252 3,996 199,379 
The following table is a summary of the shares issued, participating and repurchased for each class during the period and outstanding as of March 31, 2026:
(in thousands)Class AClass CClass IClass P-AClass P-IClass P-DClass P-SClass P-TClass EOTotal
Shares outstanding as of December 31, 202515,684 2,709 6,545 860 125,114 193 44,026 252 3,996 199,379 
Shares repurchased during the period(38)— (4)— (11)— — — — (53)
Shares transferred during the period— — — — 17 — (17)— — — 
Other capital activity— — — — 5 — — — — 5 
Shares outstanding as of March 31, 202615,646 2,709 6,541 860 125,125 193 44,009 252 3,996 199,331 
Schedule of Distributions
The Company suspended the shareholder distributions after the distribution payment on May 1, 2024. Below are the distributions calculated for shareholders of record based upon distribution period and class of share prior to the suspension in May 2024.
Class of Share
Distribution PeriodACIP-AP-IP-DP-TP-SEO
1-Dec-2030-Jun-23$0.00152 $0.00149 $0.00152 $0.00152 $0.00158 $0.00158 $0.00158 $0.00158 $— 
1-Jul-231-May-24$0.00152 $0.00149 $0.00152 $0.00152 $0.00158 $0.00158 $0.00158 $0.00158 $0.00158 
Schedule of Distributions Declared
The following table reflects the distributions declared and paid before the suspension effective on May 1, 2024 for the year ended December 31, 2024:
(in thousands)
Declared DatePay DatePaid in CashValue of Shares Issued under DRPTotal
January 31, 2024February 1, 2024$7,610 $1,787 $9,397 
February 29, 2024March 1, 20247,145 1,691 8,836 
March 30, 2024April 1, 20247,607 1,821 9,428 
April 30, 2024May 1, 20247,373 1,757 9,130 
Total$29,735 $7,056 $36,791 
The following table reflects the distributions declared and paid for the year ended December 31, 2023:
(in thousands)
Declared DatePay DatePaid in CashValue of Shares Issued under DRPTotal
January 31, 2024February 1, 2023$7,386 $1,975 $9,361 
February 28, 2023March 1, 20236,679 1,777 8,456 
March 30, 2023March 31, 20237,420 1,942 9,362 
April 30, 2023May 1, 20237,114 1,888 9,002 
May 31, 2023June 1, 20237,373 1,934 9,307 
June 30, 2023July 3, 20237,145 1,871 9,016 
July 30, 2023August 1, 20237,232 1,926 9,158 
August 31, 2023September 1, 20237,226 1,935 9,161 
September 30, 2023October 2, 20237,003 1,872 8,875 
October 31, 2023November 2, 20237,352 1,841 9,193 
November 30, 2023December 1, 20237,964 1,746 9,710 
December 31, 2023January 2, 20247,606 1,786 9,392 
Total$87,500 $22,493 $109,993