Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2024

Class of Stock [Line Items]

Schedule of Monthly Distributions Paid per Common Share

The following is a summary of monthly distributions paid per common share for the periods indicated below:

	Years ended December 31,
Month	2024		2023		2022
January	$	0.2565	$	0.2485	$	0.2465
February	0.2565		0.2485		0.2465
March	0.2565		0.2545		0.2465
April	0.2570		0.2550		0.2470
May	0.2570		0.2550		0.2470
June	0.2625		0.2550		0.2470
July	0.2630		0.2555		0.2475
August	0.2630		0.2555		0.2475
September	0.2630		0.2555		0.2475
October	0.2635		0.2560		0.2480
November	0.2635		0.2560		0.2480
December	0.2635		0.2560		0.2480
Total	$	3.1255	$	3.0510	$	2.9670

Schedule of Federal Income Tax Characterization of Distributions Paid

The following presents the federal income tax characterization of distributions paid or deemed to be paid per common share for the years:

	2024		2023		2022
Ordinary income	$	2.1759803	$	2.8434500	$	2.7867654
Nontaxable distributions	0.9495197		0.2075500		—
Total capital gain distribution	—		—		0.1802346
Total	$	3.1255000	$	3.0510000	$	2.9670000

ATM Program

Class of Stock [Line Items]

Schedule of Common Stock Issuances

The following table outlines common stock issuances pursuant to our ATM programs (dollars in millions, shares in thousands):

	Years ended December 31,
	2024		2023		2022
Shares of common stock issued under the ATM program (1)	30,169		91,699		68,608
Gross proceeds	$	1,760.1	$	5,483.2	$	4,599.4
Sales agents' commissions and other offering expenses	(17.3)		(43.7)		(43.4)
Net proceeds	$	1,742.8	$	5,439.5	$	4,556.0

(1) During the year ended December 31, 2024, 25.8 million shares were sold and 30.2 million shares were settled pursuant to forward sale confirmations. In addition, as of December 31, 2024, 1.8 million shares of common stock subject to forward sale confirmations have been executed, but not settled, at a weighted average initial gross price of $53.32 per share. We currently expect to fully settle forward sale agreements outstanding by June 30, 2025, representing $91.8 million in net proceeds, for which the weighted average forward price at December 31, 2024 was $51.80 per share.

DRSPP

Class of Stock [Line Items]

Schedule of Common Stock Issuances

The following table outlines common stock issuances pursuant to our DRSPP program (dollars in millions, shares in thousands):

	Years ended December 31,
	2024		2023		2022
Shares of common stock issued under the DRSPP program	212		198		176
Gross proceeds	$	11.8	$	11.5	$	11.7