As of June 30, 2026 and 2025, the Company’s capital structure consists of common stock and unvested restricted stock. To calculate earnings per share (“EPS”) for the three and six months ended June 30, 2026 and 2025, the Company applied the two-class method because its unvested restricted shares were participating securities.

The following table sets forth the net income attributable to the Company, its shares, and its participating shares:



	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Net income	$	67,299	$	46,194	$	119,591	$	86,836
Less: net income attributable to non-controlling interests	2,000		1,634		3,804		3,365
Net income attributable to the Company	65,299		44,560		115,787		83,471
Less: distributed and undistributed net income attributable to participating securities	1,372		530		2,438		985
Distributed and undistributed net income attributable to common shares	$	63,927	$	44,030	$	113,349	$	82,486


	Three Months Ended June 30, 2026					Three Months Ended June 30, 2025
	Net Income Allocation		Shares(1)	Basic and Diluted EPS		Net Income Allocation		Shares(1)	Basic and Diluted EPS
	(in thousands, except for per share amounts)
Common shares	$	63,927	125,102	$	0.51	$	44,030	126,647	$	0.35
Participating securities	1,372		2,685	$	0.51	530		1,524	$	0.35
Total Company	$	65,299	127,787	$	0.51	$	44,560	128,171	$	0.35


	Six Months Ended June 30, 2026					Six Months Ended June 30, 2025
	Net Income Allocation		Shares(1)	Basic and Diluted EPS		Net Income Allocation		Shares(1)	Basic and Diluted EPS
	(in thousands, except for per share amounts)
Common shares	$	113,349	125,439	$	0.90	$	82,486	126,647	$	0.65
Participating securities	2,438		2,698	$	0.90	985		1,512	$	0.65
Total Company	$	115,787	128,137	$	0.90	$	83,471	128,159	$	0.65

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