v3.26.3
Earnings Per Share
 9 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):
Three Months Ended
September 30,
Nine Months Ended
September 30,
2026202520262025
Numerator for basic earnings per share - net income (loss) attributable to common stockholders$396,587 $280,559 $1,570,261 $840,404 
Adjustment for net income (loss) attributable to OP Units and DownREIT Units7,532 1,062 29,090 2,927 
Numerator for diluted earnings per share
$404,119 $281,621 $1,599,351 $843,331 
Denominator for basic earnings per share - weighted average shares724,329 672,407 711,389 657,571 
Effect of dilutive securities:
Employee stock options
876 698 835 618 
Unvested restricted shares and units10,162 3,294 7,343 3,137 
OP Units and DownREIT Units
13,137 2,632 12,560 2,603 
Employee stock purchase program
25 19 22 20 
Exchangeable Notes6,374 6,349 7,645 5,269 
Dilutive potential common shares30,574 12,992 28,405 11,647 
Denominator for diluted earnings per share - adjusted weighted average shares
754,903 685,399 739,794 669,218 
Basic earnings per share$0.55 $0.42 $2.21 $1.28 
Diluted earnings per share$0.54 $0.41 $2.16 $1.26