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EPS Calculation | 6 Months Ended
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Jun. 30, 2026
Earnings Per Share [Abstract] |
EPS Calculation | EPS Calculation The following table presents a reconciliation of the earnings/(loss) and shares used in calculating basic and diluted earnings/(loss) per share for the three and six months ended June 30, 2026 and 2025:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(In Thousands, Except Per Share Amounts) |  | 2026 |  | 2025 |  | 2026 |  | 2025
Basic Earnings/(Loss) per Share: |  |  |  |  |  |  |  |
Net income/(loss) to common stockholders |  | $ | 46,798 |  |  | $ | 33,184 |  |  | $ | 45,814 |  |  | $ | 74,360 |
Dividends declared on preferred stock |  | (10,559) |  |  | (10,560) |  |  | (20,983) |  |  | (18,779) |
Dividends, dividend equivalents and undistributed earnings allocated to participating securities |  | (309) |  |  | (200) |  |  | (627) |  |  | (406) |
Net income/(loss) attributable to common stockholders - basic |  | $ | 35,930 |  |  | $ | 22,424 |  |  | $ | 24,204 |  |  | $ | 55,175 |
Basic weighted average common shares outstanding |  | 103,674 |  |  | 103,705 |  |  | 103,962 |  |  | 103,740 |
Basic Earnings/(Loss) per Share |  | $ | 0.35 |  |  | $ | 0.22 |  |  | $ | 0.23 |  |  | $ | 0.53 |
Diluted Earnings/(Loss) per Share: |  |  |  |  |  |  |  |
Net income/(loss) to common stockholders - basic |  | $ | 35,930 |  |  | $ | 22,424 |  |  | $ | 24,204 |  |  | $ | 55,175 |
Dividends, dividend equivalents and undistributed earnings allocated to participating securities |  | — |  |  | — |  |  | — |  |  | — |
Net income/(loss) attributable to common stockholders - diluted |  | $ | 35,930 |  |  | $ | 22,424 |  |  | $ | 24,204 |  |  | $ | 55,175 |
Basic weighted average common shares outstanding |  | 103,674 |  |  | 103,705 |  |  | 103,962 |  |  | 103,740 |
Unvested and vested restricted stock units |  | 1,764 |  |  | 1,602 |  |  | 1,691 |  |  | 1,536 |
Diluted weighted average common shares outstanding (1) |  | 105,438 |  |  | 105,307 |  |  | 105,653 |  |  | 105,276 |
Diluted Earnings/(Loss) per Share |  | $ | 0.34 |  |  | $ | 0.21 |  |  | $ | 0.23 |  |  | $ | 0.52 |
(1)At June 30, 2026 and 2025, the Company had approximately 1,021,000 and 931,000 equity instruments outstanding that were excluded from the calculation of diluted EPS for the three and six months ended June 30, 2026 and 2025, as they were determined to be anti-dilutive. These equity instruments reflect RSUs (based on current estimate of expected share settlement amount) with a weighted average grant date fair value of $9.94 and $10.45, respectively. These equity instruments may have a dilutive impact on future EPS.

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