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, 2024   $ 1,851          
Increase (Decrease) in Temporary Equity [Roll Forward]              
Distributions to noncontrolling interests   (74)          
Redeemable noncontrolling interests, ending balance at Jun. 30, 2025   1,777          
Beginning balance (in shares) at Dec. 31, 2024     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)     (194,000)        
Repurchases of common shares (1,427)     (1,427)      
Deferred shareholder servicing fees 1       1    
Amortization on derivatives previously designated as hedges and other changes in Accumulated other comprehensive income (loss), net of tax (2,823)         (2,823)  
Buyout of noncontrolling interests (2,614)     4,309     (6,923)
Contributions from noncontrolling interests, net 12,172           12,172
Distributions to noncontrolling interests (22,135)           (22,135)
Share-based compensation expense (in shares)     (3,000)        
Share-based compensation expense 4,687     2,855     1,832
Net income (loss) (76,307)       (49,254)   (27,053)
Ending balance (in shares) at Jun. 30, 2025     199,129,000        
Total equity, ending balance at Jun. 30, 2025 1,250,772   $ 199 1,779,495 (633,986) 32,114 72,950
Redeemable noncontrolling interests, beginning balance at Mar. 31, 2025   1,851          
Increase (Decrease) in Temporary Equity [Roll Forward]              
Distributions to noncontrolling interests   (74)          
Redeemable noncontrolling interests, ending balance at Jun. 30, 2025   $ 1,777          
Beginning balance (in shares) at Mar. 31, 2025     199,176,000        
Total equity, beginning balance at Mar. 31, 2025 1,297,962   $ 199 1,774,330 (600,317) 33,690 90,060
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Repurchases of common shares (in shares)     (55,000)        
Repurchases of common shares (256)     (256)      
Deferred shareholder servicing fees (1)       (1)    
Amortization on derivatives previously designated as hedges and other changes in Accumulated other comprehensive income (loss), net of tax (1,576)         (1,576)  
Buyout of noncontrolling interests (2,614)     4,309     (6,923)
Contributions from noncontrolling interests, net 10,040           10,040
Distributions to noncontrolling interests (18,324)           (18,324)
Share-based compensation expense (in shares)     8,000        
Share-based compensation expense 1,194     1,112     82
Net income (loss) (35,653)       (33,668)   (1,985)
Ending balance (in shares) at Jun. 30, 2025     199,129,000        
Total equity, ending balance at Jun. 30, 2025 $ 1,250,772   $ 199 1,779,495 (633,986) 32,114 72,950
Beginning balance (in shares) at Dec. 31, 2025 199,379,000   199,379,000        
Total equity, beginning 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)            
Ending balance (in shares) at Mar. 31, 2026     199,331,000        
Total equity, ending balance at Mar. 31, 2026 $ 1,104,554   $ 199 1,786,346 (804,276) 25,752 96,533
Beginning balance (in shares) at Dec. 31, 2025 199,379,000   199,379,000        
Total equity, beginning 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)     (105,000)        
Repurchases of common shares (482)     (482)      
Deferred shareholder servicing fees 46       46    
Amortization on derivatives previously designated as hedges and other changes in Accumulated other comprehensive income (loss), net of tax (1,589)         (1,589)  
Buyout of noncontrolling interests (2,030)     5,452     (7,482)
Syndication costs (238)           (238)
Distributions to noncontrolling interests (6,370)           (6,370)
Share-based compensation expense (in shares)     10,000        
Share-based compensation expense 4,469     4,318     151
Net income (loss) $ (65,274)       (16,006)   (49,268)
Ending balance (in shares) at Jun. 30, 2026 199,284,000   199,284,000        
Total equity, ending balance at Jun. 30, 2026 $ 1,064,432   $ 199 1,788,591 (793,218) 24,958 43,902
Beginning balance (in shares) at Mar. 31, 2026     199,331,000        
Total equity, beginning balance at Mar. 31, 2026 $ 1,104,554   $ 199 1,786,346 (804,276) 25,752 96,533
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Repurchases of common shares (in shares) (52,000)   (52,000)        
Repurchases of common shares $ (278)     (278)      
Deferred shareholder servicing fees (262)       (262)    
Amortization on derivatives previously designated as hedges and other changes in Accumulated other comprehensive income (loss), net of tax (794)         (794)  
Syndication costs 184           184
Distributions to noncontrolling interests (3,811)           (3,811)
Share-based compensation expense (in shares)     5,000        
Share-based compensation expense 2,599     2,523     76
Net income (loss) $ (37,760)       11,320   (49,080)
Ending balance (in shares) at Jun. 30, 2026 199,284,000   199,284,000        
Total equity, ending balance at Jun. 30, 2026 $ 1,064,432   $ 199 $ 1,788,591 $ (793,218) $ 24,958 $ 43,902