v3.26.3
Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Director
Preferred Shares
Common Shares
Total Shareholders' Equity
Total Shareholders' Equity
Director
Total Shareholders' Equity
Preferred Shares
Total Shareholders' Equity
Common Shares
Preferred Shares
Preferred Shares
Preferred Shares
Common Shares
Common Shares
Director
Common Shares
Common Shares
Additional Paid-In Capital
Additional Paid-In Capital
Director
Additional Paid-In Capital
Preferred Shares
Additional Paid-In Capital
Common Shares
Accumulated Other Comprehensive Income (Loss)
Distributions and retained deficit
Distributions and retained deficit
Preferred Shares
Non-Controlling Interests
Beginning balance (in shares) at Dec. 31, 2024                 27,600,000   119,285,394                    
Beginning balance at Dec. 31, 2024 $ 2,787,874       $ 2,697,424       $ 276   $ 1,193     $ 4,072,265       $ 16,550 $ (1,392,860)   $ 90,450
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Repurchase of preferred shares (in shares)                   (57,843)                      
Repurchase of preferred shares     $ (1,064)       $ (1,064)     $ (1)           $ (1,375)       $ 312  
Issuance of shares, net of offering costs (41)       (41)                 (41)              
Share-based compensation (in shares)                     221,181 54,451                  
Share-based compensation 10,263 $ 745     6,623 $ 745         $ 2 $ 1   6,621 $ 744           3,640
Repurchase of common shares (in shares)                         (5,719,480)                
Repurchase of common shares       $ (65,611)       $ (65,611)         $ (58)       $ (65,553)        
Distributions on common shares/units (3,585)       (3,533)                           (3,533)   (52)
Distributions on preferred shares/units (35,366)       (31,874)                           (31,874)   (3,492)
Purchases of capped calls in connection with convertible senior notes (27,240)       (27,240)                 (27,240)              
Other comprehensive income (loss):                                          
Change in fair value of derivative instruments (1,315)       (1,298)                 (36)       (1,262)     (17)
Amounts reclassified from other comprehensive income (11,823)       (11,823)                         (11,823)      
Net income (loss) (45,248)       (47,958)                           (47,958)   2,710
Ending balance (in shares) at Sep. 30, 2025                 27,542,157   113,841,546                    
Ending balance at Sep. 30, 2025 2,607,589       2,514,350       $ 275   $ 1,138     3,985,385       3,465 (1,475,913)   93,239
Beginning balance (in shares) at Jun. 30, 2025                 27,600,000   118,166,806                    
Beginning balance at Jun. 30, 2025 2,731,101       2,638,604       $ 276   $ 1,182     4,061,670       6,870 (1,431,394)   92,497
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Repurchase of preferred shares (in shares)                   (57,843)                      
Repurchase of preferred shares     (1,064)       (1,064)     $ (1)           (1,375)       312  
Share-based compensation 3,521       2,285                 2,285             1,236
Repurchase of common shares (in shares)                         (4,325,260)                
Repurchase of common shares       (49,999)       (49,999)         $ (44)       (49,955)        
Distributions on common shares/units (1,165)       (1,153)                           (1,153)   (12)
Distributions on preferred shares/units (11,775)       (10,611)                           (10,611)   (1,164)
Purchases of capped calls in connection with convertible senior notes (27,240)       (27,240)                 (27,240)              
Other comprehensive income (loss):                                          
Change in fair value of derivative instruments 647       679                         679     (32)
Amounts reclassified from other comprehensive income (4,084)       (4,084)                         (4,084)      
Net income (loss) (32,353)       (33,067)                           (33,067)   714
Ending balance (in shares) at Sep. 30, 2025                 27,542,157   113,841,546                    
Ending balance at Sep. 30, 2025 2,607,589       2,514,350       $ 275   $ 1,138     3,985,385       3,465 (1,475,913)   93,239
Beginning balance (in shares) at Dec. 31, 2025                 27,068,962   113,188,134                    
Beginning balance at Dec. 31, 2025 2,562,738       2,468,621       $ 271   $ 1,132     3,969,875       605 (1,503,262)   94,117
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Repurchase of preferred shares (in shares)                   (1,863,102)                      
Repurchase of preferred shares     (35,571)       (35,571)     $ (19)           (44,168)       8,616  
Share-based compensation (in shares)                     217,449 77,206                  
Share-based compensation 7,432 $ 902     5,837 $ 902         $ 2 $ 1   5,835 $ 901           1,595
Repurchase of common shares (in shares)                         (2,182,240)                
Repurchase of common shares       (34,731)       (34,731)         $ (22)       (34,709)        
Distributions on common shares/units (3,430)       (3,373)                           (3,373)   (57)
Distributions on preferred shares/units (33,563)       (30,071)                           (30,071)   (3,492)
Redemption of non-controlling interest OP units (300)       51                 51             (351)
Other comprehensive income (loss):                                          
Change in fair value of derivative instruments 6,373       6,259                         6,259     114
Amounts reclassified from other comprehensive income 2,369       2,369                         2,369      
Net income (loss) (48,109)       (50,668)                           (50,668)   2,559
Ending balance (in shares) at Sep. 30, 2026                 25,205,860   111,300,549                    
Ending balance at Sep. 30, 2026 2,424,110       2,329,625       $ 252   $ 1,113     3,897,785       9,233 (1,578,758)   94,485
Beginning balance (in shares) at Jun. 30, 2026                 25,581,924   112,451,844                    
Beginning balance at Jun. 30, 2026 2,513,402       2,418,368       $ 256   $ 1,125     3,925,438       6,098 (1,514,549)   95,034
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Repurchase of preferred shares (in shares)                   (376,064)                      
Repurchase of preferred shares     $ (7,240)       $ (7,240)     $ (4)           $ (8,853)       $ 1,617  
Share-based compensation 2,563       2,008                 2,008             555
Repurchase of common shares (in shares)                         (1,151,295)                
Repurchase of common shares       $ (20,871)       $ (20,871)         $ (12)       $ (20,859)        
Distributions on common shares/units (1,142)       (1,128)                           (1,128)   (14)
Distributions on preferred shares/units (10,889)       (9,725)                           (9,725)   (1,164)
Redemption of non-controlling interest OP units (300)       51                 51             (351)
Other comprehensive income (loss):                                          
Change in fair value of derivative instruments 2,333       2,295                         2,295     38
Amounts reclassified from other comprehensive income 840       840                         840      
Net income (loss) (54,586)       (54,973)                           (54,973)   387
Ending balance (in shares) at Sep. 30, 2026                 25,205,860   111,300,549                    
Ending balance at Sep. 30, 2026 $ 2,424,110       $ 2,329,625       $ 252   $ 1,113     $ 3,897,785       $ 9,233 $ (1,578,758)   $ 94,485