Earnings Per Share

9 Months Ended

Sep. 30, 2020

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator for basic earnings per share - net income (loss) attributable to common stockholders	$	325,585	$	589,876	$	815,115	$	1,008,108


Adjustment for net income (loss) attributable to OP units	(1,716)		492		(4,470)		580
Numerator for diluted earnings per share	$	323,869	$	590,368	$	810,645	$	1,008,688

Denominator for basic earnings per share - weighted average shares	417,027		405,023		414,822		400,441
Effect of dilutive securities:

Non-vested restricted shares	542		757		620		860
Redeemable OP units	1,396		1,096		1,396		1,096
Employee stock purchase program	22		15		22		15
Dilutive potential common shares	1,960		1,868		2,038		1,971
Denominator for diluted earnings per share - adjusted weighted average shares	418,987		406,891		416,860		402,412

Basic earnings per share	$	0.78	$	1.46	$	1.96	$	2.52
Diluted earnings per share	$	0.77	$	1.45	$	1.94	$	2.51