XML 51 R41.htm IDEA: XBRL DOCUMENT v3.25.1

Equity (Tables)

3 Months Ended

Mar. 31, 2025

Stockholders' Equity Note [Abstract]

Schedule of Dividends Payable

Dividends declared (on a per share basis) during the three months ended March 31, 2025 are as follows:

Common Stock												Preferred Stock
																		Dividend
Declaration Date						Dividend						Declaration Date						Series D						Series E						Series F
February 19, 2025						$	0.43					March 28, 2025						$	0.3984375					$	0.390625					$	0.390625

Schedule of Earnings Per Share, Basic and Diluted

A reconciliation of the numerator and denominator of our basic and diluted EPS computations is as follows ($ in thousands, except share and per share data):

						Three Months Ended March 31,
						2025												2024
						Basic						Diluted						Basic						Diluted
Net income attributable to common stockholders (1)						$	30,438					$	30,438					$	57,873					$	57,873
Net income attributable to noncontrolling interest (2)						—						2,602						—						4,997
Interest expense on convertible notes (3)						—						—						—						6,084
Net income attributable to common stockholders and noncontrolling interest						$	30,438					$	33,040					$	57,873					$	68,954
Weighted average shares outstanding						190,060,776						190,060,776						188,710,390						188,710,390
Dilutive effect of OP Units (2)						—						16,249,284						—						16,293,589
Dilutive effect of convertible notes (3)						—						—						—						17,414,547
Dilutive effect of RSUs (4)						—						552,260						—						507,550
Weighted average shares outstanding						190,060,776						206,862,320						188,710,390						222,926,076
Net income per common share (1)						$	0.16					$	0.16					$	0.31					$	0.31

________________________

(1)Net of preferred stock dividends.

(2)We consider OP Units to be common stock equivalents as the holders have voting rights, the right to distributions and the right to redeem the OP Units for the cash value of a corresponding number of shares of common stock or a corresponding number of shares of common stock, at our election.

(3)The three months ended March 31, 2025 excludes interest expense of $6.1 million and potentially dilutive shares of 17,616,593 attributable to convertible debt since their effect would have been anti-dilutive.

(4)Our chief executive officer was granted RSUs, which vest at the end of a 4-year performance period based upon our achievement of total stockholder return objectives.

X

- Definition

Tabular disclosure of all or some of the information related to dividends declared, but not paid, as of the financial reporting date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482913/230-10-50-3

+ Details

Name:	us-gaap_ScheduleOfDividendsPayableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

+ Details

Name:	us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration