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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Activity
The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value:

Three Months Ended March 31,
Restricted Shares and Performance Based Shares20252024
Expected quarterly dividends per share$0.4075 $0.3875 
Risk-free interest rate4.00 %4.27 %
Market-Based Shares
Dividend yield3.12 %4.21%
Expected volatility15.67 %13.09%
Risk-free interest rate4.12 %4.31%

The following table summarizes activity in restricted stock awards, including performance-based and market-based shares for the three months ended March 31, 2025:
Restricted Stock
SharesWeighted-
Average
Grant Date Fair Value
Outstanding at December 31, 2024
241,237 $37.05 
Granted
148,752 47.02 
Released(123,323)41.77 
Forfeited
(4,002)33.89 
Outstanding at March 31, 2025262,664 $40.53 
The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares:
Three Months Ended March 31,
Restricted Stock20252024
Weighted-average grant date fair value$47.02 $32.43 
Total fair value of restricted shares that vested (in thousands)$6,101 $5,395