v3.26.3
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Series C Preferred Stock
Preferred Stock
Common Stock
Additional Paid-in Capital
Cumulative Distributions to Stockholders
Cumulative Distributions to Stockholders
Series C Preferred Stock
Accumulated Net Loss
Beginning balance, preferred (in shares) at Dec. 31, 2024     6,847,000          
Beginning balance, common (in shares) at Dec. 31, 2024       62,412,000        
Beginning balance at Dec. 31, 2024 $ 1,361,415   $ 7 $ 62 $ 4,585,739 $ (2,383,539)   $ (840,854)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net Income (loss) 110,983             110,983
Issuance of Preferred stock, net 279              
Issuance of common stock, net (in shares)       50,796,000        
Issuance of common stock, net 874,232     $ 51 874,181      
Stock based compensation, net of withholding requirements (in shares)       41,000        
Stock based compensation, net of withholding requirements 1,556       1,556      
Common stock repurchased (in shares)       (1,351,000)        
Common stock repurchased (19,947)     $ (1) (19,946)      
Preferred stock dividends (9,006)         (9,006)    
Common stock dividends (190,716)         (190,716)    
Ending balance, preferred (in shares) at Sep. 30, 2025     6,864,000          
Ending balance, common (in shares) at Sep. 30, 2025       111,898,000        
Ending balance at Sep. 30, 2025 2,128,796   $ 7 $ 112 5,441,809 (2,583,261)   (729,871)
Beginning balance, preferred (in shares) at Dec. 31, 2024     6,847,000          
Beginning balance, common (in shares) at Dec. 31, 2024       62,412,000        
Beginning balance at Dec. 31, 2024 $ 1,361,415   $ 7 $ 62 4,585,739 (2,383,539)   (840,854)
Ending balance, preferred (in shares) at Dec. 31, 2025 7,048,000 7,048,000 7,048,000          
Ending balance, common (in shares) at Dec. 31, 2025 111,915,000     111,915,000        
Ending balance at Dec. 31, 2025 $ 2,261,053   $ 7 $ 112 5,446,152 (2,667,051)   (518,167)
Beginning balance, preferred (in shares) at Jun. 30, 2025     6,864,000          
Beginning balance, common (in shares) at Jun. 30, 2025       88,071,000        
Beginning balance at Jun. 30, 2025 1,659,951   $ 7 $ 88 5,053,048 (2,504,062)   (889,130)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net Income (loss) 159,259             159,259
Issuance of Preferred stock, net (in shares)       17,000        
Issuance of Preferred stock, net       $ 279        
Issuance of common stock, net (in shares)       24,496,000        
Issuance of common stock, net 398,131     $ 25 398,106      
Stock based compensation, net of withholding requirements (in shares)       15,000        
Stock based compensation, net of withholding requirements 570       570      
Common stock repurchased (in shares)       (684,000)        
Common stock repurchased (9,916)     $ (1) (9,915)      
Preferred stock dividends (3,003)         (3,003)    
Common stock dividends (76,196)         (76,196)    
Ending balance, preferred (in shares) at Sep. 30, 2025     6,864,000          
Ending balance, common (in shares) at Sep. 30, 2025       111,898,000        
Ending balance at Sep. 30, 2025 $ 2,128,796   $ 7 $ 112 5,441,809 (2,583,261)   (729,871)
Beginning balance, preferred (in shares) at Dec. 31, 2025 7,048,000 7,048,000 7,048,000          
Beginning balance, common (in shares) at Dec. 31, 2025 111,915,000     111,915,000        
Beginning balance at Dec. 31, 2025 $ 2,261,053   $ 7 $ 112 5,446,152 (2,667,051)   (518,167)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net Income (loss) (263,781)             (263,781)
Issuance of Preferred stock, net (in shares)     628,000          
Issuance of Preferred stock, net 13,002       13,002      
Issuance of common stock, net (in shares)       36,908,000        
Issuance of common stock, net 639,851     $ 36 639,815      
Stock based compensation, net of withholding requirements (in shares)       81,000        
Stock based compensation, net of withholding requirements $ 2,266       2,266      
Common stock repurchased (in shares) 0     (489,000)        
Common stock repurchased $ (7,162)     $ 0 (7,162)      
Preferred stock dividends   $ (9,765)         $ (9,765)  
Common stock dividends $ (284,802)         (284,802)    
Ending balance, preferred (in shares) at Sep. 30, 2026 7,676,000 7,676,000 7,676,000          
Ending balance, common (in shares) at Sep. 30, 2026 148,415,000     148,415,000        
Ending balance at Sep. 30, 2026 $ 2,350,662   $ 7 $ 148 6,094,073 (2,961,618)   (781,948)
Beginning balance, preferred (in shares) at Jun. 30, 2026     7,553,000          
Beginning balance, common (in shares) at Jun. 30, 2026       136,371,000        
Beginning balance at Jun. 30, 2026 2,579,094   $ 7 $ 136 5,890,026 (2,852,873)   (458,202)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net Income (loss) (323,746)             (323,746)
Issuance of Preferred stock, net (in shares)     123,000          
Issuance of Preferred stock, net 2,527       2,527      
Issuance of common stock, net (in shares)       12,368,000        
Issuance of common stock, net 205,744     $ 12 205,732      
Stock based compensation, net of withholding requirements (in shares)       40,000        
Stock based compensation, net of withholding requirements 937       937      
Common stock repurchased (in shares)       (364,000)        
Common stock repurchased (5,149) $ (3,326)   $ 0 (5,149)      
Preferred stock dividends             $ (3,326)  
Common stock dividends $ (105,419)         (105,419)    
Ending balance, preferred (in shares) at Sep. 30, 2026 7,676,000 7,676,000 7,676,000          
Ending balance, common (in shares) at Sep. 30, 2026 148,415,000     148,415,000        
Ending balance at Sep. 30, 2026 $ 2,350,662   $ 7 $ 148 $ 6,094,073 $ (2,961,618)   $ (781,948)