Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 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 September 30,		For the Nine Months Ended September 30,
	2020	2019	2020	2019
	Equivalent Shares (if converted)	Equivalent Shares (if converted)	Equivalent Shares (if converted)	Equivalent Shares (if converted)
Common OP Units	5,815,916	—	5,870,459	—
Series A Units (Variable Only)	875,480	—	875,480	—
Series B Units	400,668	362,382	416,796	396,276

Series D Units	1,135,469	1,038,538	1,187,083	1,074,417
	8,227,533	1,400,920	8,349,818	1,470,693

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 September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Net income attributable to common stockholders	$	114,633	$	108,087	$	325,723	$	307,685
Earnings and dividends allocated to participating securities	(177)		(165)		(513)		(508)
Earnings for basic computations	114,456		107,922		325,210		307,177
Earnings and dividends allocated to participating securities	177		165		513		—
Income allocated to noncontrolling interest - Preferred Operating Partnership Units and Operating Partnership Units	—		6,100		—		17,539
Fixed component of income allocated to noncontrolling interest - Preferred Operating Partnership (Series A Units)	—		(572)		—		(1,716)
Net income for diluted computations	$	114,633	$	113,615	$	325,723	$	323,000

Weighted average common shares outstanding:
Average number of common shares outstanding - basic	128,862,341		128,776,549		129,044,954		127,830,272
OP Units	—		6,050,028		—		6,032,656
Series A Units	—		875,480		—		875,480


Unvested restricted stock awards included for treasury stock method	214,909		209,963		212,311		—
Shares related to exchangeable senior notes and dilutive stock options	793,846		1,406,455		808,856		1,425,891
Average number of common shares outstanding - diluted	129,871,096		137,318,475		130,066,121		136,164,299
Earnings per common share
Basic	$	0.89	$	0.84	$	2.52	$	2.40
Diluted	$	0.88	$	0.83	$	2.50	$	2.37