Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of computation of basic and diluted earnings per common 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

(1)During the three months ended March 31, 2025 and 2024, there were approximately 115 and 124 unvested restricted shares of common stock (on a weighted average basis), respectively, that were not included in the computation of diluted earnings per share because the allocation of income under the two-class method was more dilutive.