v3.26.3
CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Total Stockholders’ Equity
Preferred Stock
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Distributions in Excess of Earnings
Noncontrolling Interests
Preferred stock, beginning balance (in shares) at Dec. 31, 2024     4,760,000          
Common stock, beginning balance (in shares) at Dec. 31, 2024       207,592,210        
Beginning balance at Dec. 31, 2024 $ 1,598,932 $ 1,590,235 $ 48 $ 2,076 $ 2,268,521 $ (1,360) $ (679,050) $ 8,697
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 11,915 11,857         11,857 58
Unrealized gain (loss) on interest rate derivative instruments (2,548) (2,535)       (2,535)   (13)
Unrealized gain (loss) on Rabbi Trust assets 54 54       54    
Amounts reclassified from accumulated other comprehensive income (673) (670)       (670)   (3)
Distributions on common stock (16,872) (16,781)         (16,781) (91)
Distributions on preferred stock (2,454) (2,454)         (2,454)  
Share-based compensation (in shares)       1,379,495        
Share-based compensation 1,302 1,194   $ 14 1,180     108
Shares redeemed to satisfy withholdings on vested share-based compensation (in shares)       (585,127)        
Shares redeemed to satisfy withholdings on vested share-based compensation (4,888) (4,888)   $ (6) (4,882)      
Common stock repurchased and retired (in shares)       (1,413,643)        
Common stock repurchased and retired (11,116) (11,116)   $ (15) (11,101)      
Preferred stock, ending balance (in shares) at Mar. 31, 2025     4,760,000          
Common stock, ending balance (in shares) at Mar. 31, 2025       206,972,935        
Ending balance at Mar. 31, 2025 1,573,652 1,564,896 $ 48 $ 2,069 2,253,718 (4,511) (686,428) 8,756
Preferred stock, beginning balance (in shares) at Dec. 31, 2024     4,760,000          
Common stock, beginning balance (in shares) at Dec. 31, 2024       207,592,210        
Beginning balance at Dec. 31, 2024 1,598,932 1,590,235 $ 48 $ 2,076 2,268,521 (1,360) (679,050) 8,697
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 75,592              
Unrealized gain (loss) on Rabbi Trust assets 607              
Amounts reclassified from accumulated other comprehensive income (699)              
Preferred stock, ending balance (in shares) at Sep. 30, 2025     4,760,000          
Common stock, ending balance (in shares) at Sep. 30, 2025       203,903,882        
Ending balance at Sep. 30, 2025 1,577,466 1,568,366 $ 48 $ 2,039 2,233,400 (5,934) (661,187) 9,100
Preferred stock, beginning balance (in shares) at Mar. 31, 2025     4,760,000          
Common stock, beginning balance (in shares) at Mar. 31, 2025       206,972,935        
Beginning balance at Mar. 31, 2025 1,573,652 1,564,896 $ 48 $ 2,069 2,253,718 (4,511) (686,428) 8,756
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 41,039 40,835         40,835 204
Unrealized gain (loss) on interest rate derivative instruments (1,293) (1,287)       (1,287)   (6)
Unrealized gain (loss) on Rabbi Trust assets 338 336       336   2
Amounts reclassified from accumulated other comprehensive income (11) (11)       (11)    
Distributions on common stock (16,765) (16,674)         (16,674) (91)
Distributions on preferred stock (2,454) (2,454)         (2,454)  
Share-based compensation (in shares)       86,958        
Share-based compensation 2,580 2,472   $ 1 2,471     108
Common stock repurchased and retired (in shares)       (1,684,299)        
Common stock repurchased and retired (12,588) (12,588)   $ (17) (12,571)      
Preferred stock, ending balance (in shares) at Jun. 30, 2025     4,760,000          
Common stock, ending balance (in shares) at Jun. 30, 2025       205,375,594        
Ending balance at Jun. 30, 2025 1,584,498 1,575,525 $ 48 $ 2,053 2,243,618 (5,473) (664,721) 8,973
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 22,638 22,525         22,525 113
Unrealized gain (loss) on interest rate derivative instruments (664) (660)       (660)   (4)
Unrealized gain (loss) on Rabbi Trust assets 215 214       214   1
Amounts reclassified from accumulated other comprehensive income (15) (15)       (15)    
Distributions on common stock (16,627) (16,537)         (16,537) (90)
Distributions on preferred stock (2,454) (2,454)         (2,454)  
Share-based compensation (in shares)       52,379        
Share-based compensation 1,855 1,748   $ 1 1,747     107
Shares redeemed to satisfy withholdings on vested share-based compensation (in shares)       (24,091)        
Shares redeemed to satisfy withholdings on vested share-based compensation (165) (165)     (165)      
Common stock repurchased and retired (in shares)       (1,500,000)        
Common stock repurchased and retired (11,815) (11,815)   $ (15) (11,800)      
Preferred stock, ending balance (in shares) at Sep. 30, 2025     4,760,000          
Common stock, ending balance (in shares) at Sep. 30, 2025       203,903,882        
Ending balance at Sep. 30, 2025 $ 1,577,466 1,568,366 $ 48 $ 2,039 2,233,400 (5,934) (661,187) 9,100
Common stock, beginning balance (in shares) at Dec. 31, 2025 203,703,182     203,703,182        
Beginning balance at Dec. 31, 2025 $ 1,457,085 1,447,885   $ 2,037 2,114,438 (6,381) (662,209) 9,200
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 14,533 14,464         14,464 69
Unrealized gain (loss) on interest rate derivative instruments 1,706 1,701       1,701   5
Unrealized gain (loss) on Rabbi Trust assets (96) (95)       (95)   (1)
Amounts reclassified from accumulated other comprehensive income (22) (22)       (22)    
Distributions on common stock (18,750) (18,688)         (18,688) (62)
Share-based compensation (in shares)       785,700        
Share-based compensation 1,705 1,588   $ 8 1,580     117
Shares redeemed to satisfy withholdings on vested share-based compensation (in shares)       (318,978)        
Shares redeemed to satisfy withholdings on vested share-based compensation (2,849) (2,849)   $ (3) (2,846)      
Redemption of Operating Partnership units (in shares)       445,120        
Redemption of Operating Partnership units 0 4,114   $ 4 4,110     (4,114)
Other 68 68     68      
Common stock, ending balance (in shares) at Mar. 31, 2026       204,615,024        
Ending balance at Mar. 31, 2026 $ 1,453,380 1,448,166   $ 2,046 2,117,350 (4,797) (666,433) 5,214
Common stock, beginning balance (in shares) at Dec. 31, 2025 203,703,182     203,703,182        
Beginning balance at Dec. 31, 2025 $ 1,457,085 1,447,885   $ 2,037 2,114,438 (6,381) (662,209) 9,200
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 138,700              
Unrealized gain (loss) on Rabbi Trust assets 363              
Amounts reclassified from accumulated other comprehensive income $ (56)              
Common stock, ending balance (in shares) at Sep. 30, 2026 204,610,975     204,610,975        
Ending balance at Sep. 30, 2026 $ 1,548,452 1,543,743   $ 2,046 2,121,886 3,972 (584,161) 4,709
Common stock, beginning balance (in shares) at Mar. 31, 2026       204,615,024        
Beginning balance at Mar. 31, 2026 1,453,380 1,448,166   $ 2,046 2,117,350 (4,797) (666,433) 5,214
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 90,758 90,480         90,480 278
Unrealized gain (loss) on interest rate derivative instruments 1,855 1,849       1,849   6
Unrealized gain (loss) on Rabbi Trust assets 497 496       496   1
Amounts reclassified from accumulated other comprehensive income (23) (23)       (23)    
Distributions on common stock (18,741) (18,679)         (18,679) (62)
Share-based compensation (in shares)       86,430        
Share-based compensation 3,099 2,996   $ 1 2,995     103
Shares redeemed to satisfy withholdings on vested share-based compensation (in shares)       (6,363)        
Shares redeemed to satisfy withholdings on vested share-based compensation (66) (66)     (66)      
Common stock repurchased and retired (in shares)       (189,265)        
Common stock repurchased and retired (1,856) (1,856)   $ (2) (1,854)      
Other (8) (8)         (8)  
Common stock, ending balance (in shares) at Jun. 30, 2026       204,505,826        
Ending balance at Jun. 30, 2026 1,528,895 1,523,355   $ 2,045 2,118,425 (2,475) (594,640) 5,540
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 33,409 33,321         33,321 88
Unrealized gain (loss) on interest rate derivative instruments 6,514 6,496       6,496   18
Unrealized gain (loss) on Rabbi Trust assets (39) (38)       (38)   (1)
Amounts reclassified from accumulated other comprehensive income (11) (11)       (11)    
Distributions on common stock (22,907) (22,842)         (22,842) (65)
Share-based compensation (in shares)       7,986        
Share-based compensation 2,628 2,523   $ 1 2,522     105
Shares redeemed to satisfy withholdings on vested share-based compensation (in shares)       (2,692)        
Shares redeemed to satisfy withholdings on vested share-based compensation (37) (37)   $ (1) (36)      
Redemption of Operating Partnership units (in shares)       99,855        
Redemption of Operating Partnership units $ 0 976   $ 1 975     (976)
Common stock, ending balance (in shares) at Sep. 30, 2026 204,610,975     204,610,975        
Ending balance at Sep. 30, 2026 $ 1,548,452 $ 1,543,743   $ 2,046 $ 2,121,886 $ 3,972 $ (584,161) $ 4,709