Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Antidilutive Shares Excluded from Computation of Earnings Per Share

The following table presents the number of weighted OP Units and Preferred OP Units, and the potential common shares that were excluded from the computation of earnings per share as their effect would have been anti-dilutive:


	For the Three Months Ended March 31,
		2026	2025
		Equivalent Shares (if converted)	Equivalent Shares (if converted)
Common OP Units		—	9,369,704

Series B Units		238,140	221,368
Series D Units		110,149	—
		348,289	9,591,072

Schedule of Computation of Earnings Per Common Share

The computation of earnings per common share is as follows for the periods presented:


	For the Three Months Ended March 31,
		2026		2025
Net income attributable to common stockholders		$	240,977	$	270,875
Earnings and dividends allocated to participating securities		(425)		(416)
Net income for basic computations		240,552		270,459

Income allocated to noncontrolling interest - Preferred OP Units and OP Units		10,739		220

Net income for diluted computations		$	251,291	$	270,679

Weighted average common shares outstanding:
Average number of common shares outstanding - basic		210,896,947		211,850,618
Common OP Units		9,425,925		—


Series D Units		—		202,124


Average number of common shares outstanding - diluted		220,322,872		212,052,742
Earnings per common share
Basic		$	1.14	$	1.28
Diluted		$	1.14	$	1.28