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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2024
Class of Stock [Line Items] |
Schedule of Monthly Distributions Paid per Common Share | The following is a summary of monthly distributions paid per common share for the periods indicated below:
| Years ended December 31,
Month | 2024 |  | 2023 |  | 2022
January | $ | 0.2565 |  | $ | 0.2485 |  |  | $ | 0.2465 |
February | 0.2565 |  | 0.2485 |  |  | 0.2465 |
March | 0.2565 |  | 0.2545 |  |  | 0.2465 |
April | 0.2570 |  | 0.2550 |  |  | 0.2470 |
May | 0.2570 |  | 0.2550 |  |  | 0.2470 |
June | 0.2625 |  |  | 0.2550 |  |  | 0.2470 |
July | 0.2630 |  |  | 0.2555 |  |  | 0.2475 |
August | 0.2630 |  |  | 0.2555 |  |  | 0.2475 |
September | 0.2630 |  |  | 0.2555 |  |  | 0.2475 |
October | 0.2635 |  | 0.2560 |  |  | 0.2480 |
November | 0.2635 |  | 0.2560 |  |  | 0.2480 |
December | 0.2635 |  | 0.2560 |  |  | 0.2480 |
Total | $ | 3.1255 |  |  | $ | 3.0510 |  |  | $ | 2.9670 |
Schedule of Federal Income Tax Characterization of Distributions Paid | The following presents the federal income tax characterization of distributions paid or deemed to be paid per common share for the years:
|  | 2024 |  | 2023 |  | 2022
Ordinary income |  | $ | 2.1759803 |  |  | $ | 2.8434500 |  |  | $ | 2.7867654 |
Nontaxable distributions |  | 0.9495197 |  |  | 0.2075500 |  |  | — |
Total capital gain distribution |  | — |  |  | — |  |  | 0.1802346 |
Total |  | $ | 3.1255000 |  |  | $ | 3.0510000 |  |  | $ | 2.9670000 |
ATM Program |
Class of Stock [Line Items] |
Schedule of Common Stock Issuances | The following table outlines common stock issuances pursuant to our ATM programs (dollars in millions, shares in thousands):
|  |  | Years ended December 31,
|  |  |  |  | 2024 |  | 2023 |  | 2022
Shares of common stock issued under the ATM program (1) |  |  |  |  | 30,169 |  | 91,699 |  | 68,608
Gross proceeds |  |  |  |  | $ | 1,760.1 |  |  | $ | 5,483.2 |  |  | $ | 4,599.4 |
Sales agents' commissions and other offering expenses |  |  |  |  | (17.3) |  |  | (43.7) |  |  | (43.4) |
Net proceeds |  |  |  |  | $ | 1,742.8 |  |  | $ | 5,439.5 |  |  | $ | 4,556.0 |
(1) During the year ended December 31, 2024, 25.8 million shares were sold and 30.2 million shares were settled pursuant to forward sale confirmations. In addition, as of December 31, 2024, 1.8 million shares of common stock subject to forward sale confirmations have been executed, but not settled, at a weighted average initial gross price of $53.32 per share. We currently expect to fully settle forward sale agreements outstanding by June 30, 2025, representing $91.8 million in net proceeds, for which the weighted average forward price at December 31, 2024 was $51.80 per share.
DRSPP |
Class of Stock [Line Items] |
Schedule of Common Stock Issuances | The following table outlines common stock issuances pursuant to our DRSPP program (dollars in millions, shares in thousands):
|  |  | Years ended December 31,
|  |  |  |  | 2024 |  | 2023 |  | 2022
Shares of common stock issued under the DRSPP program |  |  |  |  | 212 |  |  | 198 |  |  | 176 |
Gross proceeds |  |  |  |  | $ | 11.8 |  |  | $ | 11.5 |  |  | $ | 11.7 |

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