XML 45 R7.htm IDEA: XBRL DOCUMENT v3.25.4
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total
OP units, LTIP units, subordinated performance units and Series A-1 preferred units, net of offering costs
OP equity issued in connection with internalization of PRO structure (Note 2)
Preferred Shares
Common Shares
Additional Paid-in Capital
Distribution in Excess of Earnings
Accumulated Other Comprehensive (Loss) Income
Noncontrolling Interests
Noncontrolling Interests
OP units, LTIP units, subordinated performance units and Series A-1 preferred units, net of offering costs
Noncontrolling Interests
OP equity issued in connection with internalization of PRO structure (Note 2)
Beginning balances, preferred stock (in shares) at Dec. 31, 2022       9,017,588              
Beginning balances at Dec. 31, 2022 $ 2,389,014     $ 225,439 $ 898 $ 1,777,984 $ (396,650) $ 40,530 $ 740,813    
Beginning balances, common stock (in shares) at Dec. 31, 2022         89,842,145            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of preferred shares (in shares)       5,668,128              
Issuance of preferred shares 113,129     $ 115,212   (2,083)          
Issuance of Series A-1 preferred units and OP equity issued in connection with internalization of PRO structure   $ 67,266             750 $ 67,266  
Redemptions of units (in shares)         1,275,854            
Redemptions of OP units 0       $ 13 19,240   514 (19,767)    
Repurchase of common shares (in shares)         (8,836,639)            
Repurchase of common shares (310,152)       $ (88) (310,064)          
Effect of changes in ownership for consolidated entities 0         24,373   (2,301) (22,072)    
Equity-based compensation expense 6,679         419     6,260    
Issuance of restricted common shares (in shares)         12,856            
Vesting and forfeitures of restricted common shares, net (in shares)         (8,221)            
Vesting and forfeitures of restricted common shares, net (306)         (306)          
Preferred share dividends (19,019)           (19,019)        
Common share dividends (190,907)           (190,907)        
Distributions to noncontrolling interests (141,246)               (141,246)    
Other comprehensive income (loss) (26,355)             (17,685) (8,670)    
Net income 236,988           156,669   80,319    
Ending balances, preferred stock (in shares) at Dec. 31, 2023       14,685,716              
Ending balances at Dec. 31, 2023 2,125,841     $ 340,651 $ 823 1,509,563 (449,907) 21,058 703,653    
Ending Beginning balances, common stock (in shares) at Dec. 31, 2023         82,285,995            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of preferred shares (in shares)       9,742              
Issuance of preferred shares 0     $ 244         (244)    
Issuance of Series A-1 preferred units and OP equity issued in connection with internalization of PRO structure     $ 62,311               $ 62,311
Redemptions of units (in shares)         1,454,837            
Redemptions of OP units (9,504)       $ 14 17,564   321 (27,403)    
Repurchase of common shares (in shares)         (7,400,322)            
Repurchase of common shares (275,240)       $ (74) (275,166)          
Effect of changes in ownership for consolidated entities 0         (1,964)   (4,619) 6,583    
Equity-based compensation expense 8,310         447     7,863    
Issuance of restricted common shares (in shares)         9,413            
Vesting and forfeitures of restricted common shares, net (in shares)         (5,262)            
Vesting and forfeitures of restricted common shares, net (123)         (123)          
Equity offering costs (895)         (895)          
Preferred share dividends (20,445)           (20,445)        
Common share dividends (171,818)           (171,818)        
Distributions to noncontrolling interests (134,489)               (134,489)    
Other comprehensive income (loss) (3,871)             (1,212) (2,659)    
Net income $ 183,270           111,518   71,752    
Ending balances, preferred stock (in shares) at Dec. 31, 2024 14,695,458     14,695,458              
Ending balances at Dec. 31, 2024 $ 1,763,347     $ 340,895 $ 763 1,249,426 (530,652) 15,548 687,367    
Ending Beginning balances, common stock (in shares) at Dec. 31, 2024 76,344,661       76,344,661            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of preferred shares (in shares)       9,387              
Issuance of preferred shares $ 0     $ 235   (57)     (178)    
Redemptions of units (in shares)         735,035            
Redemptions of OP units (7,934)       $ 8 7,666   69 (15,677)    
Effect of changes in ownership for consolidated entities 0         (5,177)   (18) 5,195    
Equity-based compensation expense 12,194         423     11,771    
Issuance of restricted common shares (in shares)         16,968            
Vesting and forfeitures of restricted common shares, net (in shares)         (6,930)            
Vesting and forfeitures of restricted common shares, net (110)         (110)          
Equity offering costs (210)         (210)          
Preferred share dividends (20,462)           (20,462)        
Common share dividends (174,909)           (174,909)        
Distributions to noncontrolling interests (134,632)               (134,632)    
Other comprehensive income (loss) (19,775)             (11,183) (8,592)    
Net income $ 116,274           73,783   42,491    
Ending balances, preferred stock (in shares) at Dec. 31, 2025 14,704,845     14,704,845              
Ending balances at Dec. 31, 2025 $ 1,533,783     $ 341,130 $ 771 $ 1,251,961 $ (652,240) $ 4,416 $ 587,745    
Ending Beginning balances, common stock (in shares) at Dec. 31, 2025 77,089,734       77,089,734