EARNINGS PER COMMON SHARE

3 Months Ended

Mar. 31, 2025

The following table illustrates the computation of basic and diluted earnings per share for the three months ended March 31, 2025 and 2024 (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2025		2024
Numerator
Net income	$	40,304	$	26,254
Denominator
Basic weighted average common shares and common equivalents	237,891,035		231,453,564
Dilutive restricted stock units	2,381,086		1,911,467
Dilutive forward equity sale agreements	23,696		—
Diluted weighted average common shares	240,295,817		233,365,031
Net income, per:
Basic common share	$	0.17	$	0.11
Diluted common share	$	0.17	$	0.11

During the three months ended March 31, 2025, approximately 27,000 restricted stock units and 64,000 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 months ended March 31, 2024, approximately 2,300 restricted stock units were not included in computing diluted earnings per share because they were considered anti-dilutive.