Earnings Per Share

3 Months Ended

Mar. 31, 2021

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


	Three Months Ended March 31,
	2021		2020
Numerator for basic earnings per share - net income (loss) attributable to common stockholders	$	71,546	$	310,284


Adjustment for net income (loss) attributable to OP units	(1,353)		(1,388)
Numerator for diluted earnings per share	$	70,193	$	308,896

Denominator for basic earnings per share - weighted average shares	417,241		410,306
Effect of dilutive securities:

Non-vested restricted shares	421		702
Redeemable OP units	1,396		1,396
Employee stock purchase program	21		16
Dilutive potential common shares	1,838		2,114
Denominator for diluted earnings per share - adjusted weighted average shares	419,079		412,420

Basic earnings per share	$	0.17	$	0.76
Diluted earnings per share	$	0.17	$	0.75

As of March 31, 2021, forward sales agreements outstanding for the sale of 2,214,760 shares of common stock were not included in the computation of diluted earnings per share because such forward sales were anti-dilutive for the period.