The following table summarizes the calculation of basic and diluted earnings per share for the Parent Company for the three months ended June 30, 2026 and 2025. We have omitted the calculation of basic and diluted earnings per unit since the dilutive securities for the Operating Partnership are the same as those for the Parent Company (dollars in thousands, except per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator:
Net income attributable to common shareholders – basic and diluted	$	161,304	$	110,318	$	172,698	$	134,048

Denominator:
Weighted average common shares outstanding – basic	202,231,374		219,835,322		203,949,318		219,775,829
Effect of dilutive securities:
AO LTIP Units	—		36,131		—		38,222
Deferred common share units	95,816		78,415		92,433		74,888
2021 exchangeable notes	871,113		—		609,573		—
Weighted average common shares outstanding – diluted	203,198,303		219,949,868		204,651,324		219,888,939

Net income per common share – basic	$	0.80	$	0.50	$	0.85	$	0.61
Net income per common share – diluted	$	0.79	$	0.50	$	0.84	$	0.61