Equity (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Share-based Compensation, Activity

During the three months ended March 31, 2026 and 2025, the Company granted common shares to certain employees as follows:


	Three Months Ended March 31,
	2026		2025
Performance Shares (1)
Shares granted:
Index - 1Q	122,109		128,685
Peer 1Q	122,105		128,691
Grant date fair value per share: (2)
Index - 1Q	$	30.71	$	24.78
Peer - 1Q	$	29.32	$	23.55

Non-Vested Common Shares: (3)
Shares issued	105,540		112,246
Grand date fair value	$	5,233	$	4,495

(1) The shares vest based on the Company's total shareholder return growth after a three-year measurement period relative to an index and a group of peer companies. Dividends are not paid on these grants until earned. Once the performance criteria are met and the actual number of shares earned is determined, such shares vest immediately. During the three months ended March 31, 2026, 66,656 performance shares of the 163,048 issued in 2023 vested.

(2) The fair value of awards granted was determined at the grant date using a Monte Carlo simulation model.

(3) The shares vest ratably over a three-year service period, however, in certain situations vesting is cliff-based after a specific number of years and/or subject to meeting certain performance criteria.

Schedule of Accumulated Other Comprehensive Income (Loss)

A summary of the changes in accumulated other comprehensive income (loss) related to the Company's cash flow hedges is as follows:


	Three Months Ended March 31,
	2026		2025
Balance at beginning of period	$	427	$	6,136
Other comprehensive income (loss) before reclassifications	1,345		(1,841)
Amounts of (income) reclassified from accumulated other comprehensive income to interest expense	(369)		(1,369)
Balance at end of period	$	1,403	$	2,926