| Earnings Per Share During the three months ended March 31, 2025 and 2024, there were 115,160 and 123,595 of unvested restricted shares of common stock (on a weighted average basis), respectively, that were considered participating securities for the purposes of computing earnings per share. The following table reconciles the numerators and denominators in the computation of basic and diluted earnings per share of common stock for the three months ended March 31, 2025 and 2024.
| | | | | | | | | | | | | | | | | | | | | Three months ended March 31, | | | | Earnings Per Share (in thousands, except per share data) | | 2025 | | 2024 | | | | | | Numerator | | | | | | | | | | Net income attributable to common stockholders | | $ | 91,340 | | | $ | 36,580 | | | | | | | Denominator | | | | | | | | | | Weighted average common shares outstanding — basic | | 186,468 | | | 181,708 | | | | | | Effect of dilutive securities(1) | | | | | | | | | | Share-based compensation | | 290 | | | 281 | | | | | | | Shares issuable under forward sale agreements | | — | | | 2 | | | | | | | Weighted average common shares outstanding — diluted | | 186,758 | | | 181,991 | | | | | | | Net income per share — basic and diluted | | | | | | | | | | Net income per share attributable to common stockholders — basic | | $ | 0.49 | | | $ | 0.20 | | | | | | | Net income per share attributable to common stockholders — diluted | | $ | 0.49 | | | $ | 0.20 | | | | | |
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