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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, Restricted Stock Awards Activity

The following table contains information on restricted stock award activity for the years ended December 31, 2025 and 2024:

        

			Number of Award Shares						Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2023			269,929						$	49.49
Granted			263,328						$	33.16
Released			(247,814)						$	31.44
Canceled			(600)						$	50.15
Outstanding at December 31, 2024			284,843						$	50.10
Granted			211,307						$	27.18
Released			(263,916)						$	32.49
Canceled			(15,000)						$	50.26
Outstanding at December 31, 2025			217,234						$	49.19

Schedule of Share-based Compensation, Performance-Based Restricted Stock Awards Activity

The following table contains information on performance-based restricted stock award activity for the years ended December 31, 2025 and 2024:

        

			Number of  Performance-Based Award Shares						Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2023			1,492,000						$	29.36
Granted			523,000						$	28.73
Released			(478,000)						$	24.89
Outstanding at December 31, 2024			1,537,000						$	30.53
Granted			245,000						$	27.54
Released			(488,500)						$	30.60
Canceled			(131,500)						$	30.49
Outstanding at December 31, 2025			1,162,000						$	29.88

As of December 31, 2025, there was $0.5 million of total unrecognized compensation cost for time based LTIP awards that will be recognized over the grants' remaining weighted average vesting period of 2.01 years. For the years ended December 31, 2025, the Company recognized an expense of $2.9 million of compensation associated with these awards within general and administrative expenses on the consolidated statements of income and noncontrolling interests on the Company's consolidated balance sheet.

The following table contains information on time based LTIP award activity for the years ended December 31, 2025:

			Number of Time Based LTIP Awards						Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2024			—						$	—
Granted			85,000						$	48.16
Released			—						$	—
Canceled			(15,000)						$	48.16
Outstanding at December 31, 2025			70,000						$	48.16

Performance-based LTIP awards have a three-year cliff vesting with the amount of LTIP awards vesting at the end of the three-year period determined based upon the Company’s performance as measured against its peers. More specifically, the percentage of shares vesting at the end of the measurement period will be based on the Company’s three-year total shareholder return measured against the three-year total shareholder return of the companies included in the MSCI US REIT index and the Company's stock performance ranking among a group of triple-net REIT peer companies. As of December 31, 2025, there was $5.1 million of total unrecognized compensation cost, which will be recognized over the performance-based LTIP awards' remaining weighted average vesting period of 2.01 years. For the years ended December 31, 2025, the Company recognized $2.5 million of compensation expense associated with these awards within general and administrative expenses on the consolidated statements of income and noncontrolling interests on the Company's consolidated balance sheet.

The following table contains information on performance-based LTIP award activity for the years ended December 31, 2025:

			Number of Performance- Based LTIP Awards						Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2024			—						$	—
Granted			340,000						$	27.06
Released			—						$	—
Canceled			(60,000)						$	27.06
Outstanding at December 31, 2025			280,000						$	27.06

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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Tabular disclosure of the number and weighted-average grant date fair value for outstanding performance shares.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Subparagraph (c)
-Paragraph 2
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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