v3.26.1
Net Income Per Share (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Net Income Per Share, Basic and Diluted
The following is a reconciliation of the numerator and denominator used in the computation of basic and diluted net income per share (dollars in thousands):
Three months ended June 30,Six months ended June 30,
(dollar amounts in thousands)2026202520262025
Numerator for basic and diluted net income per share:
Net income$74,481 $63,370 $134,433 $119,651 
Less: net income attributable to non-controlling interests(194)(158)(353)(331)
Less: net income allocated to unvested RSUs and LTIP Units(377)(229)(739)(455)
Net income available for common stockholders: basic73,910 62,983 133,341 118,865 
Net income attributable to non-controlling interests194 158 353 331 
Net income available for common stockholders: diluted$74,104 $63,141 $133,694 $119,196 
Denominator for basic and diluted net income per share:
Weighted average shares outstanding used in basic net income per share216,260,528 197,551,003 213,235,988 193,030,913 
Effects of dilutive securities: (1)
OP Units and Vested LTIP Units837,265 553,847 703,978 553,847 
Unvested RSUs and LTIP Units587,456 913,324 617,082 867,491 
Forward sales233,706 614,137 451,026 865,427 
Weighted average shares outstanding used in diluted net income per share217,918,955 199,632,311 215,008,074 195,317,678 
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(1)The three months ended June 30, 2026 and 2025, respectively, exclude the impact of 39,420 and 151,652 unvested RSUs, unvested LTIP Units and unsettled forward equity sales, as the effect would have been antidilutive. The six months ended June 30, 2026 and 2025, respectively, exclude the impact of 32,024 and 128,621 unvested RSUs, unvested LTIP Units and unsettled forward equity sales, as the effect would have been antidilutive.