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Equity
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Equity Equity
Stockholders’ Equity
In March 2025, the Company completed a follow-on primary public offering of 9,430,000 shares of its common stock, including the full exercise of the underwriters' option to purchase up to 1,230,000 additional shares of common stock, at a public offering price of $31.00 per share, and entered into forward sale agreements relating
to all such shares. All shares were physically settled as of September 2026 and the Company realized net proceeds from this offering, after deducting underwriting discounts and commissions and other expenses, of $286.1 million.
In February 2026, the Company completed a follow-on primary offering of 12,499,999 shares of its common stock, including the full exercise of the underwriters' option to purchase up to 1,630,434 additional shares of common stock, at a public offering price of $32.20 per share, and entered into forward sale agreements relating to all such shares. Assuming full physical settlement of the forward sale agreements, net proceeds from this offering, after deducting underwriting discounts and commissions and other expenses and making certain other adjustments as provided in the forward sale agreements, are expected to be $380.9 million. No shares under these forward sale agreements have been settled as of September 30, 2026.
At the Market Program
In July 2026, the Company established a new at the market common equity offering program, pursuant to which it can publicly offer and sell, from time to time, shares of its common stock with an aggregate gross sales price of up to $750 million (the "2026 ATM Program"). In connection with establishing the 2026 ATM Program, the Company terminated its prior at the market program, established in October 2024 (the “October 2024 ATM Program”) and no additional stock can be issued thereunder. As context requires, references to the Company's "ATM Program" are to the 2026 ATM Program and the Company's prior ATM Programs. Sales may be made under the ATM Program through identified sales agents, as sales agents or, if applicable, as forward sellers, or directly to such agents as principals. In addition to the issuance and sale by the Company of shares to or through the agents, the ATM Program also permits the Company to enter into separate forward sale agreements with identified forward purchasers.
The following table presents information about the ATM Program (dollar amounts in thousands):
Program NameDate EstablishedDate TerminatedMaximum Sales Authorization
Gross Sales through
September 30, 2026 (1)
October 2024 ATM ProgramOctober 2024July 2026$750,000 $470,137 
2026 ATM ProgramJuly 2026$750,000 $14,067 
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(1)Includes sales of 2,880,592 and 447,658 shares under the October 2024 ATM Program and the 2026 ATM Program, respectively, that the Company completed on a forward basis and that were not settled as of September 30, 2026.
The following table details activity under the ATM Program for each period presented:
(in thousands, except share and per share data)Three months ended September 30,Nine months ended September 30,
2026202520262025
Shares of common stock sold (1)(2)
910,636 438,703 2,628,250 4,738,624 
Weighted average sale price per share$31.13 $31.35 $31.08 $32.35 
Gross proceeds$28,351 $13,755 $81,674 $153,275 
Net proceeds$27,706 $13,537 $79,990 $151,009 
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(1)Includes 910,636, 438,703, 2,328,250 and 4,738,624 shares of common stock that the Company sold on a forward basis during the three and nine months ended September 30, 2026 and 2025, respectively, which were not physically settled as of September 30, 2026 and 2025, respectively.
(2)During the nine months ended September 30, 2026 and 2025, the Company issued 5,485,920 and 10,336,110 shares of common stock, respectively, which were previously sold on a forward basis under the ATM Program and were unsettled as of December 31, 2025 and 2024, respectively.
Dividends on Common Stock
During the nine months ended September 30, 2026 and 2025, the Company’s board of directors declared the following quarterly cash dividends on common stock:
Date DeclaredRecord DateDate PaidDividend per Share of Common StockTotal Dividend
(in thousands)
September 4, 2026September 30, 2026October 14, 2026$0.32 $70,569 
May 29, 2026June 30, 2026July 14, 2026$0.32 $69,292 
March 6, 2026March 31, 2026April 14, 2026$0.31 $67,123 
September 5, 2025September 30, 2025October 14, 2025$0.30 $59,543 
May 30, 2025June 30, 2025July 14, 2025$0.30 $59,544 
March 7, 2025March 31, 2025April 11, 2025$0.295 $58,368