The following table reconciles the numerators and denominators in the computation of basic and diluted earnings per common share for the years ended December 31, 2025, 2024 and 2023.
| | | | | | | | | | | | | | | | | | | | | | | Year ended December 31, | | Earnings Per Share (in thousands, except per share data) | | 2025 | | 2024 | | 2023 | | Numerator | | | | | | | | Net income attributable to common stockholders | | $ | 273,350 | | | $ | 189,038 | | | $ | 192,633 | | | Denominator | | | | | | | | Weighted average common shares outstanding — basic | | 186,844 | | | 182,160 | | | 180,221 | | Effect of dilutive securities(1) | | | | | | | | Share-based compensation | | 330 | | | 244 | | | 332 | | | Shares issuable under forward sale agreements | | — | | | — | | | 2 | | | Weighted average common shares outstanding — diluted | | 187,174 | | | 182,404 | | | 180,555 | | | Net income per share — basic and diluted | | | | | | | | Net income per share attributable to common stockholders — basic | | $ | 1.46 | | | $ | 1.04 | | | $ | 1.07 | | | Net income per share attributable to common stockholders — diluted | | $ | 1.46 | | | $ | 1.04 | | | $ | 1.07 | |
|