| Computation of Basic and Diluted Earnings Per Common Share |
The following table shows the amounts used in computing our basic and diluted earnings per share (in thousands, except per share amounts):
| | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended September 30, | | For the Nine Months Ended September 30, | | 2026 | | 2025 | | 2026 | | 2025 | Numerator for basic and diluted earnings per share: | | | | | | | | Net income | $ | 67,281 | | | $ | 68,708 | | | $ | 198,549 | | | $ | 188,526 | | Net income attributable to noncontrolling interests | 1,901 | | | 2,661 | | | 6,687 | | | 7,347 | | Net income attributable to common stockholders | $ | 65,380 | | | $ | 66,047 | | | $ | 191,862 | | | $ | 181,179 | | Denominator: | | | | | | | | Denominator for basic earnings per share—weighted average shares | 513,946 | | | 456,032 | | | 493,324 | | | 449,572 | | Effect of dilutive securities: | | | | | | | | | | | | | | | | Restricted stock awards | 530 | | | 573 | | | 556 | | | 553 | | OP unitholder interests | 3,248 | | | 3,376 | | | 3,308 | | | 3,386 | | Exchangeable Notes | — | | | 2,912 | | | 3,036 | | | 2,556 | | Equity forward sales agreements | 1,213 | | | 522 | | | 1,060 | | | 325 | | Denominator for diluted earnings per share—adjusted weighted average shares | 518,937 | | | 463,415 | | | 501,284 | | | 456,392 | | Basic earnings per share: | | | | | | | | Net income | $ | 0.13 | | | $ | 0.15 | | | $ | 0.40 | | | $ | 0.42 | | Net income attributable to common stockholders | 0.13 | | | 0.14 | | | 0.39 | | | 0.40 | | Diluted earnings per share: | | | | | | | | Net income | $ | 0.13 | | | $ | 0.15 | | | $ | 0.40 | | | $ | 0.41 | | Net income attributable to common stockholders | 0.13 | | | 0.14 | | | 0.38 | | | 0.40 | |
|