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Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Schedule of Reconciliation of Common Stock Outstanding

The following table provides a reconciliation of the beginning and ending shares of common stock outstanding for the three months ended March 31, 2024 and the twelve months ended December 31, 2023:

			THREE MONTHS ENDED MARCH 31, 2024			TWELVE MONTHS ENDED DECEMBER 31, 2023
Balance, beginning of period			380,964,433			380,589,894
Issuance of common stock			8,623			8,627
Conversion of OP unit to Common stock			194,767			190,544
Non-vested share-based awards, net of withheld shares and forfeitures			333,679			175,368
Balance, end of period			381,501,502			380,964,433

Schedule of Earnings (Loss) per Share

The following table sets forth the computation of basic and diluted earnings per common share for the three months ended March 31, 2024 and 2023.

			THREE MONTHS ENDED MARCH 31,
Dollars in thousands, except per share data			2024			2023
Weighted average common shares outstanding
Weighted average common shares outstanding			381,335,208			380,796,773
Non-vested shares			(1,880,401)			(1,956,353)
Weighted average common shares outstanding - basic			379,454,807			378,840,420
Weighted average common shares outstanding - basic			379,454,807			378,840,420
Dilutive effect of forward equity shares			—			—
Dilutive effect of OP Units			—			—
Dilutive effect of employee stock purchase plan			—			—
Weighted average common shares outstanding - diluted			379,454,807			378,840,420
Net loss			$	(315,220)		$	(88,078)
Income allocated to participating securities			(693)			(625)
Loss attributable to non-controlling interest			4,384			953
Adjustment to loss attributable to non-controlling interest for legally outstanding restricted units			(1,341)			(16)
Net loss applicable to common stockholders - basic			$	(312,870)		$	(87,766)
Basic earnings per common share - net loss			$	(0.82)		$	(0.23)
Diluted earnings per common share - net loss			$	(0.82)		$	(0.23)

Schedule of Stock Options, Valuation Assumptions

						THREE MONTHS ENDED MARCH 31,
Volatility									28.0		%
Dividend assumption									Accrued
Expected term									3 years
Risk-free rate									4.44		%
Stock price (per share)									$15.22

						THREE MONTHS ENDED MARCH 31,
Volatility									28.0		%
Dividend assumption									Accrued
Expected term									3 years
Risk-free rate									4.44		%
Stock price (per share)									$15.22

Summary of the Activity Under the Incentive Plan and RSU Activity

The following table represents the summary of non-vested share-based awards under the Incentive Plans for the three months ended March 31, 2024 and 2023:

			THREE MONTHS ENDED MARCH 31,
			2024			2023
Share-based awards, beginning of period			2,615,562			2,090,060
Granted 1			1,475,811			1,075,261
Vested			(28,414)			(113,766)
Forfeited			(19,805)			(26,063)
Share-based awards, end of period			4,043,154			3,025,492

1.LTIP-C units are issued at the maximum possible value of the award and are reflected as such in this table until the performance period has been satisfied and the exact number of awards are determinable.

Schedule of Unrecognized Compensation Cost, Nonvested Awards

The following table represents expected amortization of the Company's non-vested shares issued as of March 31, 2024:

Dollars in millions			FUTURE AMORTIZATION of non-vested shares
2024			$	11.5
2025			13.3
2026			10.6
2027			5.7
2028 and thereafter			2.8
Total			$	43.9

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