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Equity and Capital (Tables)
6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Summary of Terms and Conditions of Preferred Stock Outstanding

Terms and conditions of the preferred stock outstanding are summarized as follows:

 

Preferred Stock Outstanding as of June 30, 2026 and December 31, 2025

 

Date of Issuance (1)

 

Shares Issued and Outstanding

 

 

Liquidation Preference

 

 

Distribution Rate

 

Callable By Company

Series A

8/18/2023

 

 

4,600,000

 

 

$

115,000,000

 

 

6.250%

 

On demand

Series B

8/18/2023

 

 

4,400,000

 

 

 

110,000,000

 

 

5.875%

 

On demand

 

 

 

 

9,000,000

 

 

$

225,000,000

 

 

 

 

 

(1)
Issued in connection with the August 18, 2023 merger at terms consistent with their original issuance.
Summary of Dividends Declared Per Share

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

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Common Stock

 

$

0.755000

 

 

$

0.705000

 

 

$

1.510000

 

 

$

1.410000

 

Series A Preferred Stock

 

$

0.390625

 

 

$

0.390625

 

 

$

0.781250

 

 

$

0.781250

 

Series B Preferred Stock

 

$

0.367200

 

 

$

0.367200

 

 

$

0.734400

 

 

$

0.734400