v3.26.3
Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share The following table presents a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations and the calculation of basic and diluted earnings per share for the three and nine months ended September 30, 2026 and 2025, respectively (in thousands, except share and per share data):
Three Months Ended September 30,Nine Months Ended September 30,
Basic Numerator2026202520262025
Net income/(loss)$(27,042)$17,616 $1,525 $65,705 
Net (income)/loss from non-controlling interest358 (302)(660)(1,132)
Less: Preferred stock dividends(5,915)(6,749)(17,747)(20,245)
Net income/(loss) applicable to common stock$(32,599)$10,565 $(16,882)$44,328 
Less: Participating securities' share in earnings(288)(510)(940)(1,556)
Basic net income/(loss) applicable to common stockholders$(32,887)$10,055 $(17,822)$42,772 
Diluted Numerator
Basic net income/(loss) applicable to common stockholders$(32,887)$10,055 $(17,822)$42,772 
Add: Net income/(loss) from non-controlling interest - OP Units(192)747 — 747 
Diluted net income/(loss) applicable to common stockholders$(33,079)$10,802 $(17,822)$43,519 
Denominator
Weighted-average common shares outstanding for basic earnings per share80,287,854 82,214,630 78,861,945 82,150,496 
Weighted-average common shares outstanding for diluted earnings per share(1)(2)
80,756,562 90,600,581 78,861,945 84,976,530 
Basic earnings per share$(0.41)$0.12 $(0.23)$0.52 
Diluted earnings per share$(0.41)$0.12 $(0.23)$0.51 
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(1) The effect of the weighted average dilutive shares excluded restricted shares and stock units for the three months ended September 30, 2026 and 2025 of 69,131 and 160,572, respectively, as the effect was anti-dilutive. Weighted average dilutive shares excluded restricted shares and stock units as of the nine months ended September 30, 2026 and 2025 of 61,496 and 142,604 respectively, as the effect was anti-dilutive. Additionally, the effect of dilutive shares excluded 5,370,498 weighted average common share equivalents of convertible preferred stock for the three and nine months ended September 30, 2026 and 2025, respectively, as the effect was anti-dilutive.
(2) The weighted average dilutive shares for the three months ended September 30, 2026 included 468,708 OP Units as the effect was dilutive. The effect of the weighted average dilutive shares excluded OP Units for the nine months ended September 30, 2026 of 5,717,869 as the effect was anti-dilutive.