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Equity and Dividends | 3 Months Ended
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Mar. 31, 2025
Equity [Abstract] |
Equity and Dividends | Equity and Dividends Forward Sale Agreements In the first quarter of 2025, we settled the remaining approximately 1.0 million shares of common stock subject to our August 2024 forward equity sale agreement at a forward price of $68.21 per share resulting in proceeds of approximately $65.5 million. ATM Equity Program We maintain an ATM equity program which allows us to sell our common stock directly into the market and have entered into an ATM equity offering sales agreement pursuant to which the Company may sell, from time to time, up to an aggregate sales price of $500.0 million of the Company’s common stock. The ATM equity program has a forward sale provision which allows us to sell shares of common stock to forward purchasers at a predetermined price at a future date. During the three months ended March 31, 2025, we entered into ATM forward sale agreements with a financial institution to sell shares of common stock which mature in the first quarter of 2026. We sold approximately 0.2 million shares on a forward basis at a weighted average price of $74.39 per share net of sales agent fees, or approximately $15.5 million. We did not receive any proceeds from the sale of shares of our common stock by the forward purchasers at the time of the sale. As of March 31, 2025, the remaining approximately 0.7 million shares of common stock under our December 2024 ATM forward sale agreement were available for settlement at a forward price of $74.12 per share for proceeds of approximately $53.6 million. This forward sale agreement matures in the fourth quarter of 2025. No shares were sold under the ATM equity program during the three months ended March 31, 2024. Dividends The following table summarizes dividends declared by the Board of Directors or paid during the three months ended March 31, 2025 and 2024:
Three Months Ended March 31, 2025
Date of Declaration |  | Date of Record |  | Date Paid/Payable |  | Quarterly Dividend
November 1, 2024 |  | December 31, 2024 |  | January 29, 2025 |  | $0.90
February 14, 2025 |  | March 31, 2025 |  | May 2, 2025 |  | $0.90
Three Months Ended March 31, 2024
Date of Declaration |  | Date of Record |  | Date Paid/Payable |  | Quarterly Dividend
November 3, 2023 |  | December 29, 2023 |  | January 26, 2024 |  | $0.90
February 16, 2024 |  | March 28, 2024 |  | May 3, 2024 |  | $0.90
On May 2, 2025, the Board of Directors declared a $0.90 per share dividend payable on August 1, 2025 to common stockholders of record as of June 30, 2025.

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