Equity (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Summary of Quarterly Dividends

The following table summarizes the quarterly dividends related to the Company’s quarterly financial results (in thousands, except per share data):

Quarter Ended	Quarterly Dividend per Class A Common Share		Class A Cash Dividends Paid		Payment Date	Stockholder Record Date
June 30, 2024	$	0.30	$	24,071	August 30, 2024	August 19, 2024
March 31, 2024	$	0.41	$	33,066	May 31, 2024	May 21, 2024
December 31, 2023	$	0.51	$	41,950	March 28, 2024	March 15, 2024
September 30, 2023	$	0.49	$	40,396	November 30, 2023	November 21, 2023
June 30, 2023	$	0.40	$	32,705	August 31, 2023	August 18, 2023
March 31, 2023	$	0.50	$	40,743	May 31, 2023	May 19, 2023

Schedule of Basic and Diluted Earnings Per Share

The following table sets forth the calculation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data):

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator:
Net income attributable to Class A stockholders	$	12,563	$	287	$	33,885	$	22,144
Less: Earnings allocated to participating securities	(236)		(199)		(943)		(983)
Net income attributable to Class A stockholders - basic	$	12,327	$	88	$	32,942	$	21,161
Plus: net loss attributable to noncontrolling interest	$	—	$	(12)	$	—	$	—
Net income attributable to Class A stockholders - diluted	$	12,327	$	76	$	32,942	$	21,161
Denominator:
Weighted average shares outstanding - basic	80,142		81,712		81,095		80,984
Effect of dilutive securities	136		75,548		168		—
Weighted average shares outstanding - diluted	80,278		157,260		81,263		80,984
Net income per common share - basic	$	0.15	$	—	$	0.41	$	0.26
Net income per common share - diluted	$	0.15	$	—	$	0.41	$	0.26

Schedule of Computation of Diluted Earnings Per Share

The Company had the following shares that were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive for the periods presented but could potentially dilute basic earnings per share in future periods (in thousands):

	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Warrants	—	3,060	—	4,554
Unvested share-based compensation awards	1,310	899	1,397	789
Shares of Class C Common Stock if converted	73,716	—	74,157	74,601
Total	75,026	3,959	75,554	79,944