Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Summary of Computation of Basic and Diluted Earnings Per Share

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,
	2025		2024
Numerator for basic earnings per share - net income attributable to common stockholders	$	257,957	$	127,146
Adjustment for net income (loss) attributable to OP Units and DownREIT Units	950		(325)
Numerator for diluted earnings per share	$	258,907	$	126,821
Denominator for basic earnings per share - weighted average shares	643,393		574,049
Effect of dilutive securities:
Employee stock options	559		69
Unvested restricted shares and units	2,976		1,061
OP Units and DownREIT Units	2,467		2,329
Employee stock purchase program	20		22
Exchangeable Notes	4,380		—
Dilutive potential common shares	10,402		3,481
Denominator for diluted earnings per share - adjusted weighted average shares	653,795		577,530
Basic earnings per share	$	0.40	$	0.22
Diluted earnings per share	$	0.40	$	0.22