EARNINGS PER COMMON SHARE

12 Months Ended

Dec. 31, 2024

The following table illustrates the computation of basic and diluted earnings per share (in thousands, except share and per share amounts):


	Year Ended December 31,
	2024		2023		2022
Numerator
Net income (loss)	$	126,712	$	13,756	$	(77,605)
Denominator
Basic weighted average common shares and common equivalents	233,498,736		231,203,391		230,947,895
Dilutive restricted stock units	2,446,335		1,589,387		—
Dilutive forward equity sale agreements	100,791		—		—
Diluted weighted average common shares	236,045,862		232,792,778		230,947,895
Net income (loss), per:
Basic common share	$	0.54	$	0.06	$	(0.34)
Diluted common share	$	0.54	$	0.06	$	(0.34)

During the years ended December 31, 2024, 2023 and 2022, approximately 1,300, 500 and 0.9 million restricted stock units, respectively, and during the year ended December 31, 2024, approximately 8,900 shares related to forward equity sale agreements were excluded from computing diluted earnings per share because they were considered anti-dilutive.