EARNINGS PER COMMON SHARE

9 Months Ended

Sep. 30, 2024

The following table illustrates the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2024 and 2023 (in thousands, except share and per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator
Net income (loss)	$	29,788	$	(15,101)	$	80,017	$	(3,400)
Denominator
Basic weighted average common shares and common equivalents	234,290,187		231,224,692		232,459,388		231,197,375
Dilutive restricted stock units	2,505,456		—		2,236,433		—
Dilutive forward equity sale agreements	247,757		—		81,280		—
Diluted weighted average common shares	237,043,400		231,224,692		234,777,101		231,197,375
Net income (loss), per:
Basic common share	$	0.13	$	(0.07)	$	0.34	$	(0.01)
Diluted common share	$	0.13	$	(0.07)	$	0.34	$	(0.01)

During the three months ended September 30, 2024, approximately 10,000 restricted stock units or shares related to forward equity sale agreements were not included in computing diluted earnings per share because they were considered anti-dilutive. During the nine months ended September 30, 2024, approximately 800 restricted stock units and 5,200 shares related to forward equity sale agreements were not included in computing diluted earnings per share because they were considered anti-dilutive. During the three and nine months ended September 30, 2023, approximately 1.6 million and 1.4 million restricted stock units, respectively, were not included in computing diluted earnings per share because they were considered anti-dilutive.