Earnings per Share

9 Months Ended

Sep. 30, 2020

Earnings per Share

Earnings per Share

10. Earnings per Share

The following is a summary of basic and diluted earnings per share (in thousands, except share and per share

amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Net (loss) income available to common stockholders	$	(37,370)	$	49,827	$	219,165	$	177,434
Weighted average shares outstanding—basic		270,214,413		208,421,470		253,377,527		208,173,995
Potentially dilutive common shares:
Unvested incentive units		—		181,064		103,159		142,670
Unvested restricted stock		—		—		273,755		—
Forward equity offering		—		1,013,970		2,087,607		705,720
Market performance-based awards		—		185,267		520,531		177,150
Weighted average shares outstanding—diluted		270,214,413		209,801,771		256,362,579		209,199,535
(Loss) earnings per share:
Basic	$	(0.14)	$	0.24	$	0.86	$	0.85
Diluted	$	(0.14)	$	0.24	$	0.85	$	0.85

We have excluded the following potentially dilutive securities in the calculations above as they would be antidilutive or not dilutive:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
Unvested incentive units	154,178	—	—	—
Unvested restricted stock	2,459,322	—	—	—
Forward equity offering	512,442	—	—	—
Market performance-based awards	318,386	—	—	—
Weighted average of Operating Partnership common units not owned by Digital Realty Trust, Inc.	7,864,774	8,953,826	8,038,885	9,080,816
Potentially dilutive Series C Cumulative Redeemable Perpetual Preferred Stock	1,417,537	1,614,005	1,485,177	1,678,511
Potentially dilutive Series G Cumulative Redeemable Preferred Stock	1,757,668	2,001,277	1,841,538	2,081,260
Potentially dilutive Series H Cumulative Redeemable Preferred Stock	—	—	—	1,053,127
Potentially dilutive Series I Cumulative Redeemable Preferred Stock	1,304,786	2,003,619	1,692,046	2,083,696
Potentially dilutive Series J Cumulative Redeemable Preferred Stock	1,403,969	1,598,556	1,470,961	1,662,444
Potentially dilutive Series K Cumulative Redeemable Preferred Stock	1,476,350	1,680,969	1,546,796	1,232,711
Potentially dilutive Series L Cumulative Redeemable Preferred Stock	2,421,547	—	2,535,929	—
Total	21,090,959	17,852,252	18,611,332	18,872,565