Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Antidilutive Shares Excluded from Computation of Earnings Per Share

The following table presents the number of Preferred Operating Partnership units, and the potential common shares, that were excluded from the computation of earnings per share as their effect would have been anti-dilutive.


	For the Three Months Ended March 31,
	2020	2019
	Equivalent Shares (if converted)	Equivalent Shares (if converted)
Series B Units	402,403	436,254
Series C Units (1)	—	129,763
Series D Units	1,153,233	1,083,265
	1,555,636	1,649,282

(1) The remainder of the Series C Units were converted to OP Units on April 25, 2019.

Schedule of Computation of Earnings Per Common Share

The computation of earnings per common share is as follows for the periods presented:


	For the Three Months Ended March 31,
	2020		2019
Net income attributable to common stockholders	$	108,179	$	94,770
Earnings and dividends allocated to participating securities	(163)		(167)
Earnings for basic computations	108,016		94,603
Earnings and dividends allocated to participating securities	163		—
Income allocated to noncontrolling interest - Preferred Operating Partnership Units and Operating Partnership Units	6,171		5,429
Fixed component of income allocated to noncontrolling interest - Preferred Operating Partnership (Series A Units)	(572)		(572)
Net income for diluted computations	$	113,778	$	99,460

Weighted average common shares outstanding:
Average number of common shares outstanding - basic	129,288,629		127,037,247
OP Units	5,919,705		5,960,981
Series A Units	875,480		875,480


Unvested restricted stock awards included for treasury stock method	211,602		—
Shares related to exchangeable senior notes and dilutive stock options	844,144		416,008
Average number of common shares outstanding - diluted	137,139,560		134,289,716
Earnings per common share
Basic	$	0.84	$	0.74
Diluted	$	0.83	$	0.74