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CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Total stockholders’ equity
Shares of common stock
Common stock and paid in capital
Distributions in excess of net income
Accumulated other comprehensive income
Non-controlling interests
Beginning balance (in shares) at Dec. 31, 2023 0            
Beginning balance at Dec. 31, 2023 $ 0            
Increase (Decrease) in Temporary Equity              
Shares issued with merger (in shares) 6,900,000            
Shares issued with merger $ 167,394            
Ending balance (in shares) at Mar. 31, 2024 6,900,000            
Ending balance at Mar. 31, 2024 $ 167,394            
Beginning balance (in shares) at Dec. 31, 2023     752,460,000        
Beginning balance at Dec. 31, 2023 33,106,969 $ 32,941,467   $ 39,629,709 $ (6,762,136) $ 73,894 $ 165,502
Increase (Decrease) in Stockholders' Equity              
Net income 133,899 132,284     132,284   1,615
Other comprehensive income (loss) (9,114) (9,114)       (9,114)  
Distributions paid and payable (671,930) (669,662)     (669,662)   (2,268)
Share issuances, net of costs (in shares)     9,663,000        
Share issuances, net of costs 546,656 546,656   546,656      
Shares issued with merger (in shares)     108,308,000        
Shares issued with merger 6,043,641 6,043,641   6,043,641      
Contributions by noncontrolling interests 214           214
Share-based compensation, net (in shares)     325,000        
Share-based compensation, net 755 755   755      
Ending balance (in shares) at Mar. 31, 2024     870,756,000        
Ending balance at Mar. 31, 2024 $ 39,151,090 38,986,027   46,220,761 (7,299,514) 64,780 165,063
Beginning balance (in shares) at Dec. 31, 2024 0            
Beginning balance at Dec. 31, 2024 $ 0            
Ending balance (in shares) at Mar. 31, 2025 0            
Ending balance at Mar. 31, 2025 $ 0            
Beginning balance (in shares) at Dec. 31, 2024 891,511,000   891,511,000        
Beginning balance at Dec. 31, 2024 $ 39,051,686 38,840,738   47,451,068 (8,648,559) 38,229 210,948
Increase (Decrease) in Stockholders' Equity              
Net income 251,462 249,815     249,815   1,647
Other comprehensive income (loss) 34,590 34,590       34,590  
Distributions paid and payable (721,352) (718,341)     (718,341)   (3,011)
Share issuances, net of costs (in shares)     11,288,000        
Share issuances, net of costs 627,900 627,900   627,900      
Contributions by noncontrolling interests 1,342           1,342
Share-based compensation, net (in shares)     263,000        
Share-based compensation, net $ (3,441) (3,441)   (3,441)      
Ending balance (in shares) at Mar. 31, 2025 903,062,000   903,062,000        
Ending balance at Mar. 31, 2025 $ 39,242,187 $ 39,031,261   $ 48,075,527 $ (9,117,085) $ 72,819 $ 210,926