Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Schedule of earnings per share

In the dilutive EPS calculation, dilutive stock options were calculated using the treasury stock method consistent with prior periods. There were 682 anti-dilutive stock options for the three months ended March 31, 2020 and 2019. The conversions of downREIT operating partnership units and 5.417% Series 1 Cumulative Convertible Preferred Shares are anti-dilutive for all periods presented and accordingly, have been excluded from the weighted average common shares used to compute diluted EPS.

	Three Months Ended
	March 31,
	2020			2019
	(In thousands, except per share data)
NUMERATOR
Net income	$	56,441		$	61,803
Less: Preferred share dividends	(2,010		)	(2,010		)
Less: Income from operations attributable to noncontrolling interests	(1,678		)	(1,659		)
Less: Earnings allocated to unvested shares	(247		)	(220		)
Net income available for common shareholders, basic and diluted	$	52,506		$	57,914
DENOMINATOR
Weighted average common shares outstanding, basic and diluted	75,360			74,200
EARNINGS PER COMMON SHARE, BASIC AND DILUTED:
Net income available for common shareholders	$	0.70		$	0.78