Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2022

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,
	2022	2021	2022	2021
	Equivalent Shares (if converted)	Equivalent Shares (if converted)	Equivalent Shares (if converted)	Equivalent Shares (if converted)


Series B Units	177,506	225,972	181,408	271,132
Series D Units	1,118,056	663,888	1,089,389	784,139
	1,295,562	889,860	1,270,797	1,055,271

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,
	2022		2021		2022		2021
Net income attributable to common stockholders	$	220,719	$	188,276	$	656,428	$	559,222
Earnings and dividends allocated to participating securities	(313)		(260)		(914)		(800)
Earnings for basic computations	220,406		188,016		655,514		558,422

Income allocated to noncontrolling interest - Preferred Operating Partnership Units and Operating Partnership Units	12,954		9,810		37,932		29,395
Fixed component of income allocated to noncontrolling interest - Preferred Operating Partnership (Series A Units)	(572)		(572)		(1,716)		(1,716)
Net income for diluted computations	$	232,788	$	197,254	$	691,730	$	586,101

Weighted average common shares outstanding:
Average number of common shares outstanding - basic	133,913,652		133,809,750		134,094,490		133,197,903
OP Units	6,709,854		5,733,936		6,592,606		5,767,132
Series A Units	875,480		875,480		875,480		875,480



Shares related to dilutive stock options	5,229		6,103		5,269		14,366
Average number of common shares outstanding - diluted	141,504,215		140,425,269		141,567,845		139,854,881
Earnings per common share
Basic	$	1.65	$	1.41	$	4.89	$	4.19
Diluted	$	1.65	$	1.40	$	4.89	$	4.19