Three Months Ended September 30,

Nine Months Ended September 30,

2025

2024

2025

2024

Net income (loss)

$

50,791

$

(91,549

)

$

97,521

$

(160,288

)

Less: Preferred dividends

(3,068

)

(3,068

)

(9,204

)

(9,204

)

Less: Earnings attributable to participating securities

(196

)

—

(196

)

—

Less: Dividends on participating securities

(554

)

(614

)

(1,671

)

(2,380

)

Net income (loss) attributable to common stockholders, basic and diluted

$

46,973

$

(95,231

)

$

86,450

$

(171,872

)

Number of Shares:

Basic weighted-average shares of common stock outstanding

138,943,831

138,246,827

138,843,250

140,177,962

Diluted weighted-average shares of common stock outstanding

139,667,116

138,246,827

139,300,645

140,177,962

Earnings (Loss) Per Share Attributable to Common Stockholders

Basic

$

0.34

$

(0.69

)

$

0.62

$

(1.23

)

Diluted

$

0.34

$

(0.69

)

$

0.62

$

(1.23

)