31 unchanged sentences
70.2 % 46.6 % 46.6 % 46.6 % 56.4 % 56.4 % 56.4 % 56.4 %
+Added: Qualified Dividend Income 0.9 % 1.6 % 1.6 % 1.6 % — % — % — % — %
Capital Gain Distributions (2)(3)(4)
21 unchanged sentences
REIT $ 100.00 $ 143.06 $ 108.00 $ 122.84 $ 133.59 $ 137.53
+Added: Issuer Purchases of Equity Securities
+Added: The following table summarizes the Company’s repurchases of its outstanding Class A common shares during the fourth quarter of 2025 (amounts in thousands, except share and per share data):
+Added: Period Total Number of
+Added: Shares Purchased Average Price
+Added: Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)
+Added: Approximate Dollar Value of Shares that May
+Added: Yet Be Purchased Under
+Added: the Plans or Programs
+Added: October 1, 2025 to October 31, 2025 — $ — — $ 265,067
+Added: November 1, 2025 to November 30, 2025 2,407,192 32.06 2,407,192 187,896
+Added: December 1, 2025 to December 31, 2025 2,314,013 31.47 2,314,013 115,067
+Added: Total 4,721,205 $ 31.77 4,721,205 $ 115,067
+Added: (1) In February 2018, the Company’s board of trustees authorized the establishment of a share repurchase program for the repurchase of up to $300.0 million of outstanding Class A common shares and up to $250.0 million of outstanding preferred shares from time to time in the open market or in privately negotiated transactions.
+Added: All repurchased shares are constructively retired and returned to an authorized and unissued status.
+Added: The Operating Partnership funds the repurchases and constructively retires an equivalent number of corresponding Class A units.
+Added: In January 2026, the Company fully utilized the remaining authorization for the repurchase of Class A common shares under the 2018 share repurchase program and repurchased and retired 3.7 million of its outstanding Class A common shares on a settlement date basis pursuant to the program at a weighted-average price of $31.49 per share and a total price of $115.1 million.
+Added: In February 2026, the Company’s board of trustees authorized a new share repurchase program to repurchase up to $500.0 million of outstanding Class A common shares and up to $250.0 million of outstanding preferred shares from time to time in the open market or in privately negotiated transactions.
+Added: The new share repurchase program does not have an expiration date, but may be suspended or discontinued at any time without notice.
+Added: All repurchased shares are constructively retired and returned to an authorized and unissued status.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.