Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings per Share

Summary of Basic and Diluted 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

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

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