Earnings Per Share

3 Months Ended

Mar. 31, 2023

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,
		2023		2022
Numerator for basic earnings per share - net income (loss) attributable to common stockholders		$	25,673	$	61,925


Adjustment for net income (loss) attributable to OP Units and DownREIT Units		(10)		(145)
Numerator for diluted earnings per share		$	25,663	$	61,780

Denominator for basic earnings per share - weighted average shares		492,061		447,379
Effect of dilutive securities:
Employee stock options		4		31
Non-vested restricted shares and units		613		974
OP Units and DownREIT Units		1,786		1,396
Employee stock purchase program		30		22
Dilutive potential common shares		2,433		2,423
Denominator for diluted earnings per share - adjusted weighted average shares		494,494		449,802

Basic earnings per share		$	0.05	$	0.14
Diluted earnings per share		$	0.05	$	0.14

As of March 31, 2022, outstanding forward sales agreements for the sale of 14,297,958 shares were not included in the computation of diluted earnings per share because such forward sales were anti-dilutive for the period. There were no outstanding forward sales agreements as of March 31, 2023.