| Earnings Per Share |
Earnings Per Share The components of the computation of basic and diluted EPS are as follows: | | | | | | | | | | | | | Three-Month Period Ended | | (In thousands except share amounts) | March 31, 2026 | | March 31, 2025 | | Net income (loss) attributable to common stockholders | $ | 95,467 | | | $ | 31,649 | | Add: Net income (loss) attributable to Convertible Non-controlling Interests(1) | 998 | | | 321 | | Net income (loss) attributable to common stockholders and Convertible Non-controlling Interests | 96,465 | | | 31,970 | | | Dividends declared: | | | | | Common stockholders | (48,613) | | | (35,852) | | | Convertible Non-controlling Interests | (524) | | | (380) | | | Total dividends declared to common stockholders and Convertible Non-controlling Interests | (49,137) | | | (36,232) | | | Undistributed (Distributed in excess of) earnings: | | | | | Common stockholders | 46,854 | | | (4,203) | | | Convertible Non-controlling Interests | 474 | | | (59) | | Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests | $ | 47,328 | | | $ | (4,262) | | | Weighted average shares outstanding (basic and diluted): | | | | | Weighted average shares of common stock outstanding | 121,711,441 | | | 91,601,467 | | | Weighted average Convertible Non-controlling Interest Units outstanding | 1,272,811 | | | 927,705 | | Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding | 122,984,252 | | | 92,529,172 | | Basic earnings per share of common stock and Convertible Non-controlling Interest Unit: | | | | | Distributed | $ | 0.39 | | | $ | 0.39 | | | Undistributed (Distributed in excess of) | 0.39 | | | (0.05) | | | $ | 0.78 | | | $ | 0.35 | | Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit: | | | | | Distributed | $ | 0.39 | | | $ | 0.39 | | | Undistributed (Distributed in excess of) | 0.39 | | | (0.05) | | | $ | 0.78 | | | $ | 0.35 | |
(1)For the three-month periods ended March 31, 2026 and 2025, excludes net income (loss) of $1.2 million and $0.3 million, respectively, attributable to non-participating interests held by joint venture partners; see Note 18 for additional details.
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