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Stockholders' Equity | 3 Months Ended
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Mar. 31, 2025
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Stockholders' Equity: Stock Offerings In connection with the commencement of an “at the market” offering program on March 26, 2021, which is referred to as the “2021 ATM Program,” the Company entered into an equity distribution agreement with certain sales agents pursuant to which the Company may issue and sell shares of its common stock having an aggregate offering price of up to $500,000 under the 2021 ATM Program. During the three months ended March 31, 2024, the Company did not issue any shares of common stock under the 2021 ATM Program. As of December 31, 2024, the 2021 ATM Program was fully utilized and is no longer active. 14. Stockholders' Equity: (Continued) In connection with the commencement of an “at the market” offering program on November 12, 2024, which is referred to as the “2024 ATM Program,” the Company entered into an equity distribution agreement with certain sales agents pursuant to which the Company may issue and sell shares of its common stock having an aggregate offering price of up to $500,000 under the 2024 ATM Program. During the three months ended March 31, 2025, the Company did not issue any shares of common stock under the ATM Program. As of March 31, 2025, $429,294 remained available to be sold under the ATM Program. Actual future sales will depend upon a variety of factors including, but not limited to, market conditions, the trading price of the Company’s common stock and the Company’s capital needs. The Company has no obligation to sell the remaining shares available for sale under the ATM Program. On November 27, 2024, the Company completed a public offering of 23,000,000 shares of its common stock at a price per share of $19.75, which includes the underwriters' full exercise of their option to purchase an additional 3,000,000 shares, for gross proceeds of approximately $454,250. The net proceeds of the offering were approximately $439,410 after deducting the underwriting discount and offering costs of approximately $14,840. The Company used the proceeds from the offering, together with cash on hand, to repay the mortgage loan secured by its Washington Square property. Stock Buyback Program On February 12, 2017, the Company's Board of Directors authorized the repurchase of up to $500,000 of its outstanding common shares as market conditions and the Company’s liquidity warrant. Repurchases may be made through open market purchases, privately negotiated transactions, structured or derivative transactions, including accelerated share repurchase transactions, or other methods of acquiring shares, from time to time as permitted by securities laws and other legal requirements. The program is referred to herein as the "Stock Buyback Program". There were no repurchases under the Stock Buyback Program during the three months ended March 31, 2025 or 2024.

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