Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2023

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator for basic earnings per share - net income (loss) attributable to common stockholders	$	103,040	$	89,784	$	128,713	$	151,709


Adjustment for net income (loss) attributable to OP Units and DownREIT Units	(157)		228		(167)		106
Numerator for diluted earnings per share	$	102,883	$	90,012	$	128,546	$	151,815

Denominator for basic earnings per share - weighted average shares	499,023		454,327		495,561		450,865
Effect of dilutive securities:
Employee stock options	28		40		16		36
Non-vested restricted shares and units	1,044		1,166		882		1,070
OP Units and DownREIT Units	1,850		1,526		1,818		1,461
Employee stock purchase program	25		23		28		23
Dilutive potential common shares	2,947		2,755		2,744		2,590
Denominator for diluted earnings per share - adjusted weighted average shares	501,970		457,082		498,305		453,455

Basic earnings per share	$	0.21	$	0.20	$	0.26	$	0.34
Diluted earnings per share	$	0.20	$	0.20	$	0.26	$	0.33