v3.26.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Reconciliation of Net Income (Loss) and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS

The following table provides a reconciliation of net income and the number of shares of common stock used in the computations of “basic” earnings per share (“EPS”), which utilizes the weighted-average number of shares of common stock outstanding without regard to potentially dilutive shares of common stock, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts).

 

 

For the Three Months Ended March 31,

 

 

2026

 

 

2025

 

Numerators – Basic and Diluted

 

 

 

 

 

Net income

$

3,568

 

 

$

10,562

 

Income attributable to non-controlling interests

 

(5

)

 

 

(12

)

Earnings attributable to unvested shares

 

(97

)

 

 

(134

)

Net income attributable to common stockholders after
   allocation to participating securities

$

3,466

 

 

$

10,416

 

 

 

 

 

 

 

Denominators – Number of Shares

 

 

 

 

 

Basic – Average shares outstanding

 

105,085

 

 

 

104,912

 

Assumed conversion of dilutive securities - PRSAs and PB LTIPs

 

454

 

 

 

225

 

Assumed conversion of dilutive securities - Forward equity

 

845

 

 

 

—

 

Diluted – Average shares outstanding

 

106,384

 

 

 

105,137

 

 

 

 

 

 

 

Earnings Per Share:

 

 

 

 

 

Basic

$

0.03

 

 

$

0.10

 

Diluted

$

0.03

 

 

$

0.10