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Earnings Per Share (Tables) | 6 Months Ended
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Jun. 30, 2025
Earnings Per Share [Abstract] |
Schedule of Reconciliation of Basic and Diluted Earnings Per Share | The following tables set forth reconciliations of the basic and diluted earnings per share computations for the periods presented:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
Basic Earnings per Share |  | 2025 |  | 2024 |  | 2025 |  | 2024
Net income |  | $ | 24,777 |  |  | $ | 21,759 |  |  | $ | 49,406 |  |  | $ | 43,870 |
Less: Income distributed to participating securities |  |  | — |  |  |  | (462 | ) |  |  | — |  |  |  | (924 | )
Less: Undistributed income allocable to participating securities |  |  | — |  |  |  | (1,603 | ) |  |  | (24 | ) |  |  | (3,260 | )
Net income available to common stockholders—Basic EPS |  | $ | 24,777 |  |  | $ | 19,694 |  |  | $ | 49,382 |  |  | $ | 39,686 |
Weighted average common shares (in thousands) |  |  | 143,076 |  |  |  | 146,896 |  |  |  | 142,830 |  |  |  | 146,680 |
Basic earnings per share |  | $ | 0.17 |  |  | $ | 0.13 |  |  | $ | 0.35 |  |  | $ | 0.27 |
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
Diluted Earnings per Share |  | 2025 |  | 2024 |  | 2025 |  | 2024
Net income available to common stockholders |  | $ | 24,777 |  |  | $ | 19,694 |  |  | $ | 49,382 |  |  | $ | 39,686 |
Add back: Undistributed income allocable to participating securities |  |  | — |  |  |  | 1,603 |  |  |  | 24 |  |  |  | 3,260 |
Less: Reallocation of undistributed income allocable to participating securities considered potentially dilutive |  |  | — |  |  |  | (1,561 | ) |  |  | (23 | ) |  |  | (3,182 | )
Net income available to common stockholders—Diluted EPS |  | $ | 24,777 |  |  | $ | 19,736 |  |  | $ | 49,383 |  |  | $ | 39,764 |
Weighted Average Diluted Shares (in thousands): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares |  |  | 143,076 |  |  |  | 146,896 |  |  |  | 142,830 |  |  |  | 146,680 |
Dilutive effect of common stock equivalents, excluding participating securities |  |  | 3,564 |  |  |  | 4,312 |  |  |  | 3,601 |  |  |  | 3,962 |
Weighted average diluted shares, excluding participating securities (in thousands) |  |  | 146,640 |  |  |  | 151,208 |  |  |  | 146,431 |  |  |  | 150,642 |
Diluted earnings per share |  | $ | 0.17 |  |  | $ | 0.13 |  |  | $ | 0.34 |  |  | $ | 0.26 |
Schedule of Weighted Average Diluted Shares | The following table reconciles weighted average diluted shares as reported on the Company’s Consolidated Statements of Operations for the three and six months ended June 30, 2025 and 2024, which are determined pursuant to the treasury stock method, to the weighted average diluted shares used to calculate diluted earnings per share as disclosed in the table above:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
Reconciliation of Weighted Average Diluted Shares (in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Weighted average diluted shares as disclosed on the Consolidated Statements of Operations |  |  | 146,640 |  |  |  | 166,359 |  |  |  | 146,513 |  |  |  | 165,872 |
Less: Participating securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares of common stock issuable upon conversion of the Series A Preferred Stock |  |  | — |  |  |  | (14,750 | ) |  |  | — |  |  |  | (14,750 | )
Potentially dilutive restricted stock awards |  |  | — |  |  |  | (401 | ) |  |  | (82 | ) |  |  | (480 | )
Weighted average diluted shares used to calculate diluted earnings per share as disclosed in the table above |  |  | 146,640 |  |  |  | 151,208 |  |  |  | 146,431 |  |  |  | 150,642 |

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