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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Outstanding Preferred Stock

The Company’s outstanding Preferred Stock as of both June 30, 2026 and December 31, 2025 is detailed below:

 

As of June 30, 2026

Class of
Preferred Stock

 

Shares
Authorized

 

 

Shares
Issued and
Outstanding

 

 

Liquidation
Preference
(in thousands)

 

 

Dividend
Rate

 

 

Annual
Dividend per
Depositary
Share

 

 

Par Value

 

 

Optional
Redemption
Date

Class L

 

 

10,350

 

 

 

8,902

 

 

$

222,543

 

 

 

5.125

%

 

$

1.28125

 

 

$

1.00

 

 

8/16/2022

Class M

 

 

10,580

 

 

 

10,465

 

 

 

261,636

 

 

 

5.250

%

 

$

1.31250

 

 

$

1.00

 

 

12/20/2022

Class N

 

 

1,849

 

 

 

1,381

 

 

 

69,017

 

 

 

7.250

%

 

$

3.62500

 

 

$

1.00

 

 

N/A

 

 

 

 

 

20,748

 

 

$

553,196

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Repurchased Preferred Stock During the six months ended June 30, 2026, the Company did not repurchase any shares of preferred stock.
Summary of Dividends Declared Per Share

The following table provides a summary of the dividends declared per share:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Common Shares

 

$

0.26000

 

 

$

0.25000

 

 

$

0.52000

 

 

$

0.50000

 

Class L Depositary Shares

 

$

0.32031

 

 

$

0.32031

 

 

$

0.64062

 

 

$

0.64062

 

Class M Depositary Shares

 

$

0.32813

 

 

$

0.32813

 

 

$

0.65626

 

 

$

0.65626

 

Class N Depositary Shares

 

$

0.90625

 

 

$

0.90625

 

 

$

1.81250

 

 

$

1.81250