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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2025
Equity [Abstract] |
Summary of Basic and Diluted Earnings Per Share | Basic and diluted earnings per share for the three and six months ended June 30, 2025 and 2024 attributable to the common shares of Holdings is calculated as follows (in thousands, except per share data):
|  | Three months ended June 30, |  | Six months ended June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
|  |  |  | (As Restated) |  |  |  | (As Restated)
Net loss from continuing operations attributable to common shares of Holdings |  | $ | (68,884) |  |  | $ | (83,251) |  |  | $ | (107,355) |  |  | $ | (198,412) |
Less: Effect of contribution based profit - Holding Event |  | 406 |  |  | 1,709 |  |  | 587 |  |  | 1,625 |
Net loss from continuing operations attributable to common shares of Holdings |  | $ | (69,290) |  |  | $ | (84,960) |  |  | $ | (107,942) |  |  | $ | (200,037) |
Income from discontinued operations attributable to Holdings |  | $ | 2,805 |  |  | $ | 1,107 |  |  | $ | 2,849 |  |  | $ | 5,105 |
Less: Effect of contribution based profit - Holding Event |  | — |  |  | — |  |  | — |  |  | — |
Income from discontinued operations attributable to common shares of Holdings |  | $ | 2,805 |  |  | $ | 1,107 |  |  | $ | 2,849 |  |  | $ | 5,105 |
Basic and diluted weighted average common shares outstanding |  | 75,236 |  |  | 75,389 |  |  | 75,236 |  |  | 75,332 |
Basic and fully diluted income (loss) per common share attributable to Holdings |  |  |  |  |  |  |  |
Continuing operations |  | $ | (0.92) |  |  | $ | (1.13) |  |  | $ | (1.43) |  |  | $ | (2.66) |
Discontinued operations |  | 0.04 |  |  | 0.01 |  |  | 0.04 |  |  | 0.07 |
|  | $ | (0.88) |  |  | $ | (1.12) |  |  | $ | (1.39) |  |  | $ | (2.59) |
Distributions The following table summarizes information related to our quarterly cash distributions on our Trust common and preferred shares (in thousands, except per share data):
Period |  | Cash Distribution per Share |  | Total Cash Distributions |  | Record Date |  | Payment Date
Trust Common Shares: |  |  |  |  |  |  |  |
January 1, 2025 - March 31, 2025 |  | $ | 0.25 |  |  | $ | 18,809 |  |  | April 17, 2025 |  | April 24, 2025
October 1, 2024 - December 31, 2024 |  | $ | 0.25 |  |  | $ | 18,809 |  |  | January 16, 2025 |  | January 23, 2025
July 1, 2024 - September 30, 2024 |  | $ | 0.25 |  |  | $ | 18,913 |  |  | October 17, 2024 |  | October 24, 2024
April 1, 2024 - June 30, 2024 |  | $ | 0.25 |  |  | $ | 18,913 |  |  | July 18, 2024 |  | July 25, 2024
January 1, 2024 - March 31, 2024 |  | $ | 0.25 |  |  | $ | 18,846 |  |  | April 18, 2024 |  | April 25, 2024
Series A Preferred Shares: |  |  |  |  |  |  |  |
April 30, 2025 - July 29, 2025 (1) |  | $ | 0.453125 |  |  | $ | 2,120 |  |  | July 15, 2025 |  | July 30, 2025
January 30, 2025 - April 29, 2025 |  | $ | 0.453125 |  |  | $ | 2,120 |  |  | April 15, 2025 |  | April 30, 2025
October 30, 2024 - January 29, 2025 |  | $ | 0.453125 |  |  | $ | 2,062 |  |  | January 15, 2025 |  | January 30, 2025
July 30, 2024 - October 29, 2024 |  | $ | 0.453125 |  |  | $ | 1,930 |  |  | October 15, 2024 |  | October 30, 2024
April 30, 2024 - July 29, 2024 |  | $ | 0.453125 |  |  | $ | 1,852 |  |  | July 15, 2024 |  | July 30, 2024
January 30, 2024 - April 29, 2024 |  | $ | 0.453125 |  |  | $ | 1,822 |  |  | April 15, 2024 |  | April 30, 2024
October 30, 2023 - January 29, 2024 |  | $ | 0.453125 |  |  | $ | 1,813 |  |  | January 15, 2024 |  | January 30, 2024
Series B Preferred Shares: |  |  |  |  |  |  |  |
April 30, 2025 - July 29, 2025 (1) |  | $ | 0.4921875 |  |  | $ | 3,703 |  |  | July 15, 2025 |  | July 30, 2025
January 30, 2025 - April 29, 2025 |  | $ | 0.4921875 |  |  | $ | 3,703 |  |  | April 15, 2025 |  | April 30, 2025
October 30, 2024 - January 29, 2025 |  | $ | 0.4921875 |  |  | $ | 3,048 |  |  | January 15, 2025 |  | January 30, 2025
July 30, 2024 - October 29, 2024 |  | $ | 0.4921875 |  |  | $ | 2,347 |  |  | October 15, 2024 |  | October 30, 2024
April 30, 2024 - July 29, 2024 |  | $ | 0.4921875 |  |  | $ | 2,064 |  |  | July 15, 2024 |  | July 30, 2024
January 30, 2024 - April 29, 2024 |  | $ | 0.4921875 |  |  | $ | 1,983 |  |  | April 15, 2024 |  | April 30, 2024
October 30, 2023 - January 29, 2024 |  | $ | 0.4921875 |  |  | $ | 1,969 |  |  | January 15, 2024 |  | January 30, 2024
Series C Preferred Shares: |  |  |  |  |  |  |  |
April 30, 2025 - July 29, 2025 (1) |  | $ | 0.4921875 |  |  | $ | 3,892 |  |  | July 15, 2025 |  | July 30, 2025
January 30, 2025 - April 29, 2025 |  | $ | 0.4921875 |  |  | $ | 3,892 |  |  | April 15, 2025 |  | April 30, 2025
October 30, 2024 - January 29, 2025 |  | $ | 0.4921875 |  |  | $ | 3,324 |  |  | January 15, 2025 |  | January 30, 2025
July 30, 2024 - October 29, 2024 |  | $ | 0.4921875 |  |  | $ | 2,690 |  |  | October 15, 2024 |  | October 30, 2024
April 30, 2024 - July 29, 2024 |  | $ | 0.4921875 |  |  | $ | 2,430 |  |  | July 15, 2024 |  | July 30, 2024
January 30, 2024 - April 29, 2024 |  | $ | 0.4921875 |  |  | $ | 2,295 |  |  | April 15, 2024 |  | April 30, 2024
October 30, 2023 - January 29, 2024 |  | $ | 0.4921875 |  |  | $ | 2,264 |  |  | January 15, 2024 |  | January 30, 2024
(1) This distribution was declared on July 2, 2025.

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