EPS (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Earnings Per Share, Basic and Diluted

The table below presents the calculation of basic and diluted EPS:


	Three Months Ended March 31,
	2026		2025
Numerator (In thousands):
Net (loss) income attributable to common stockholders	$	(2,498)	$	39,800
Allocation to participating securities: Unvested LTIP Units	(440)		(433)
Net (loss) income attributable to common stockholders - basic and diluted	$	(2,938)	$	39,367

Denominator (In thousands):
Weighted average shares of common stock outstanding - basic and diluted(1)	167,466		167,442



Net (loss) income per common share - basic and diluted	$	(0.02)	$	0.24

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(1) Outstanding OP Units and vested LTIP Units are not included in the denominator in calculating diluted EPS, even though they may be exchanged under certain conditions for common stock on a one-for-one basis, because their associated net income or loss (equal on a per unit basis to the Net income or loss per common share - diluted) was already deducted in calculating Net (loss) income attributable to common stockholders. Accordingly, any exchange would not have any effect on diluted EPS. The table below presents the weighted average OP Units and vested LTIP Units outstanding for the respective periods:


	Three Months Ended March 31,
(In thousands)	2026	2025

OP Units	33,616	32,818
Vested LTIP Units	4,580	2,694