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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2025
Equity [Abstract] |
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:
| Six months ended June 30,
Month | 2025 |  | 2024 |  |
January | $ | 0.2640 |  | $ | 0.2565 |  |  |
February | 0.2640 |  | 0.2565 |  |  |
March | 0.2680 |  | 0.2565 |  |  |
April | 0.2685 |  | 0.2570 |  |  |
May | 0.2685 |  | 0.2570 |  |  |
June | 0.2685 |  |  | 0.2625 |  |  |
Total | $ | 1.6015 |  |  | $ | 1.5460 |  |  |
Schedule of Common Stock Issuances | The following table outlines common stock issuances pursuant to our ATM programs (dollars in millions, shares in thousands):
| Three months ended June 30, |  | Six months ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Shares of common stock issued under the ATM program (1) | 11,150 |  | — |  | 22,381 |  | 9,604 |  |
Gross proceeds | $ | 628.7 |  |  | $ | — |  |  | $ | 1,260.7 |  |  | $ | 547.0 |  |  |
Sales agents' commissions and other offering expenses | (6.5) |  |  | (0.2) |  |  | (13.7) |  |  | (3.7) |  |  |
Net proceeds | $ | 622.2 |  |  | $ | (0.2) |  |  | $ | 1,247.0 |  |  | $ | 543.3 |  |  |
(1) During the three and six months ended June 30, 2025, 17.5 million and 28.2 million shares were sold, respectively. As of June 30, 2025, 7.6 million shares of common stock subject to forward sale confirmations have been executed, but not settled, at a weighted average initial gross price of $56.81 per share. We currently expect to fully settle forward sale agreements outstanding by September 30, 2025, representing $422.8 million in net proceeds, for which the weighted average forward price at June 30, 2025 was $55.92 per share. The following table outlines common stock issuances pursuant to our DRSPP program (dollars in millions, shares in thousands):
| Three months ended June 30, |  | Six months ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Shares of common stock issued under the DRSPP program | 50 |  | 57 |  | 107 |  |  | 115 |  |  |
Gross proceeds | $ | 2.8 |  |  | $ | 3.1 |  |  | $ | 5.9 |  |  | $ | 6.2 |  |  |

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