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Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Summary of Changes in Stockholders' Equity

A summary of the changes in stockholders’ equity for the three and nine months ended September 30, 2024 and 2023 is as follows (in thousands except per share amounts):

 

 

 

Common Stock

 

 

Accumulated
Other
Comprehensive

 

 

Additional
Paid-in

 

 

Dividends
Paid in Excess

 

 

 

 

 

 

Shares

 

 

Amount

 

 

Income

 

 

Capital

 

 

of Earnings

 

 

Total

 

BALANCE, JUNE 30, 2024

 

 

54,185

 

 

$

542

 

 

$

(1,051

)

 

$

1,062,204

 

 

$

(110,661

)

 

$

951,034

 

Net earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

15,335

 

 

 

15,335

 

Accumulated other comprehensive income (loss)

 

 

 

 

 

 

 

 

(2,923

)

 

 

 

 

 

 

 

 

(2,923

)

Dividends declared — $0.45 per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(25,421

)

 

 

(25,421

)

Shares issued pursuant to equity offering, net

 

 

 

 

 

 

 

 

 

 

 

(102

)

 

 

 

 

 

(102

)

Shares issued pursuant to ATM Program, net

 

 

831

 

 

 

8

 

 

 

 

 

 

23,883

 

 

 

 

 

 

23,891

 

Shares issued pursuant to dividend reinvestment

 

 

1

 

 

 

 

 

 

 

 

 

16

 

 

 

 

 

 

16

 

Stock-based compensation and settlements

 

 

 

 

 

 

 

 

 

 

 

1,561

 

 

 

 

 

 

1,561

 

BALANCE, SEPTEMBER 30, 2024

 

 

55,017

 

 

$

550

 

 

$

(3,974

)

 

$

1,087,562

 

 

$

(120,747

)

 

$

963,391

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BALANCE, DECEMBER 31, 2023

 

 

53,953

 

 

$

540

 

 

 

(4,021

)

 

$

1,053,129

 

 

$

(94,096

)

 

$

955,552

 

Net earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

48,769

 

 

 

48,769

 

Accumulated other comprehensive income (loss)

 

 

 

 

 

 

 

 

47

 

 

 

 

 

 

 

 

 

47

 

Dividends declared — $1.35 per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(75,420

)

 

 

(75,420

)

Shares issued pursuant to equity offering, net

 

 

 

 

 

 

 

 

 

 

 

(160

)

 

 

 

 

 

(160

)

Shares issued pursuant to ATM Program, net

 

 

1,049

 

 

 

10

 

 

 

 

 

 

31,086

 

 

 

 

 

 

31,096

 

Shares issued pursuant to dividend reinvestment

 

 

1

 

 

 

 

 

 

 

 

 

46

 

 

 

 

 

 

46

 

Stock-based compensation and settlements

 

 

14

 

 

 

 

 

 

 

 

 

3,461

 

 

 

 

 

 

3,461

 

BALANCE, SEPTEMBER 30, 2024

 

 

55,017

 

 

$

550

 

 

$

(3,974

)

 

$

1,087,562

 

 

$

(120,747

)

 

$

963,391

 

 

 

 

 

Common Stock

 

 

Accumulated
Other
Comprehensive

 

 

Additional
Paid-in

 

 

Dividends
Paid in Excess

 

 

 

 

 

 

Shares

 

 

Amount

 

 

Income

 

 

Capital

 

 

of Earnings

 

 

Total

 

BALANCE, JUNE 30, 2023

 

 

50,501

 

 

$

505

 

 

$

 

 

$

938,163

 

 

$

(78,582

)

 

$

860,086

 

Net earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16,033

 

 

 

16,033

 

Dividends declared — $0.43 per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(23,209

)

 

 

(23,209

)

Shares issued pursuant to equity offering, net

 

 

2,200

 

 

 

22

 

 

 

 

 

 

71,564

 

 

 

 

 

 

71,586

 

Shares issued pursuant to ATM Program, net

 

 

 

 

 

 

 

 

 

 

 

(45

)

 

 

 

 

 

(45

)

Shares issued pursuant to dividend reinvestment

 

 

1

 

 

 

 

 

 

 

 

 

12

 

 

 

 

 

 

12

 

Stock-based compensation and settlements

 

 

 

 

 

 

 

 

 

 

 

1,443

 

 

 

 

 

 

1,443

 

BALANCE, SEPTEMBER 30, 2023

 

 

52,702

 

 

$

527

 

 

$

 

 

$

1,011,137

 

 

$

(85,758

)

 

$

925,906

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

BALANCE, DECEMBER 31, 2022

 

 

46,735

 

 

$

467

 

 

 

 

 

$

822,340

 

 

$

(62,957

)

 

$

759,850

 

Net earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

43,639

 

 

 

43,639

 

Dividends declared — $1.29 per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(66,440

)

 

 

(66,440

)

Shares issued pursuant to equity offering, net

 

 

2,200

 

 

 

22

 

 

 

 

 

 

71,509

 

 

 

 

 

 

71,531

 

Shares issued pursuant to ATM Program, net

 

 

3,721

 

 

 

38

 

 

 

 

 

 

114,089

 

 

 

 

 

 

114,127

 

Shares issued pursuant to dividend reinvestment

 

 

1

 

 

 

 

 

 

 

 

 

40

 

 

 

 

 

 

40

 

Stock-based compensation and settlements

 

 

45

 

 

 

 

 

 

 

 

 

3,159

 

 

 

 

 

 

3,159

 

BALANCE, SEPTEMBER 30, 2023

 

 

52,702

 

 

$

527

 

 

$

 

 

$

1,011,137

 

 

$

(85,758

)

 

$

925,906