Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2021

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,
	2021	2020	2021	2020
	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	225,972	400,668	271,132	416,796

Series D Units	663,888	1,135,469	784,139	1,187,083
	889,860	8,227,533	1,055,271	8,349,818

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,
	2021		2020		2021		2020
Net income attributable to common stockholders	$	188,276	$	114,633	$	559,222	$	325,723
Earnings and dividends allocated to participating securities	(260)		(177)		(800)		(513)
Earnings for basic computations	188,016		114,456		558,422		325,210
Earnings and dividends allocated to participating securities	—		177		—		513
Income allocated to noncontrolling interest - Preferred Operating Partnership Units and Operating Partnership Units	9,810		—		29,395		—
Fixed component of income allocated to noncontrolling interest - Preferred Operating Partnership (Series A Units)	(572)		—		(1,716)		—
Net income for diluted computations	$	197,254	$	114,633	$	586,101	$	325,723

Weighted average common shares outstanding:
Average number of common shares outstanding - basic	133,809,750		128,862,341		133,197,903		129,044,954
OP Units	5,733,936		—		5,767,132		—
Series A Units	875,480		—		875,480		—


Unvested restricted stock awards included for treasury stock method	—		214,909		—		212,311
Shares related to exchangeable senior notes and dilutive stock options	6,103		793,846		14,366		808,856
Average number of common shares outstanding - diluted	140,425,269		129,871,096		139,854,881		130,066,121
Earnings per common share
Basic	$	1.41	$	0.89	$	4.19	$	2.52
Diluted	$	1.40	$	0.88	$	4.19	$	2.50