v3.25.4
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Total Company Stockholders' Equity
Common Stock
Preferred Stock
Additional Paid-In Capital
Retained Earnings (Accumulated Deficit)
Accumulated Other Comprehensive Income (Loss)
Non-Controlling Interest in Consolidated VIE
Common Stock
Common Stock
Total Company Stockholders' Equity
Common Stock
Common Stock
Common Stock
Additional Paid-In Capital
Preferred Stock
Preferred Stock
Total Company Stockholders' Equity
Preferred Stock
Preferred Stock
Preferred Stock
Retained Earnings (Accumulated Deficit)
Beginning balance at Dec. 31, 2022 $ 1,800,308 $ 1,767,216 $ 912 $ 538,351 $ 2,282,691 $ (1,052,768) $ (1,970) $ 33,092                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income (loss) allocated to redeemable non-controlling interest (60,732) (48,665)       (48,665)   (12,067)                
Common and preferred stock repurchases                 $ (8,615) $ (8,615) $ (9) $ (8,606) $ (2,439) $ (2,439) $ (2,906) $ 467
Stock based compensation expense (benefit), net 8,825 8,825 4   8,821                      
Dividends declared on common stock (109,279) (109,279)       (109,279)                    
Dividends declared on preferred stock (41,837) (41,837)       (41,837)                    
Dividends attributable to dividend equivalents (1,735) (1,735)       (1,735)                    
Reclassification adjustment for net loss included in net loss 1,822 1,822         1,822                  
Increase in fair value of available for sale securities 144 144         144                  
Increase in non-controlling interest related to initial consolidation of VIEs 3,790             3,790                
Contributions of non-controlling interest in Consolidated VIEs 997             997                
Decrease in non-controlling interest related to distributions from Consolidated VIEs (5,359)             (5,359)                
Adjustment of redeemable non-controlling interest to estimated redemption value 14,175 14,175     14,175                      
Ending balance at Dec. 31, 2023 1,600,065 1,579,612 907 535,445 2,297,081 (1,253,817) (4) 20,453                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income (loss) allocated to redeemable non-controlling interest (77,027) (62,029)       (62,029)   (14,998)                
Common and preferred stock repurchases                 $ (3,493) $ (3,493) $ (6) $ (3,487)        
Stock based compensation expense (benefit), net 6,068 6,068 5   6,063                      
Dividends declared on common stock (72,596) (72,596)       (72,596)                    
Dividends declared on preferred stock (41,756) (41,756)       (41,756)                    
Dividends attributable to dividend equivalents (477) (477)       (477)                    
Reclassification adjustment for net loss included in net loss 4 4         4                  
Increase in fair value of available for sale securities 0                              
Increase in non-controlling interest related to de-consolidation of VIEs 1,730             1,730                
Contributions of non-controlling interest in Consolidated VIEs 516             516                
Decrease in non-controlling interest related to distributions from Consolidated VIEs (3,646)             (3,646)                
Adjustment of redeemable non-controlling interest to estimated redemption value (10,613) (10,613)     (10,613)                      
Ending balance at Dec. 31, 2024 1,398,775 1,394,720 906 535,445 2,289,044 (1,430,675) 0 4,055                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income (loss) allocated to redeemable non-controlling interest 147,260 149,048       149,048   (1,788)                
Preferred stock issuance, net 5,027 5,027   5,027                        
Common and preferred stock repurchases (1,502) (1,502) (2)   (1,500)                      
Stock based compensation expense (benefit), net 8,197 8,197 (1)   8,198                      
Dividends declared on common stock (77,711) (77,711)       (77,711)                    
Dividends declared on preferred stock (47,942) (47,942)       (47,942)                    
Dividends attributable to dividend equivalents (1,367) (1,367)       (1,367)                    
Reclassification adjustment for net loss included in net loss 0                              
Increase in fair value of available for sale securities 0                              
Contributions of non-controlling interest in Consolidated VIEs 1,028             1,028                
Decrease in non-controlling interest related to distributions from Consolidated VIEs (2,796)             (2,796)                
Adjustment of redeemable non-controlling interest to estimated redemption value (1,548) (1,548)     (1,548)                      
Ending balance at Dec. 31, 2025 $ 1,427,421 $ 1,426,922 $ 903 $ 540,472 $ 2,294,194 $ (1,408,647) $ 0 $ 499