Earnings Per Common Share

3 Months Ended

Mar. 31, 2026

Basic and fully diluted earnings per share are based on the weighted average shares outstanding during each period. The following table sets forth the computation of basic and diluted earnings per share of common stock (“Common Share”):


	For the Quarters Ended March 31,
(amounts in thousands, except per share data)	2026		2025
Numerators:
Net income available for Common Stockholders – Basic	$	107,904	$	109,192
Amounts allocated to non-controlling interests (dilutive securities)	3,587		5,201
Net income available for Common Stockholders – Fully Diluted	$	111,491	$	114,393
Denominators:
Weighted average Common Shares outstanding – Basic	193,676		190,925
Effect of dilutive securities:
Exchange of Common OP Units for Common Shares	6,448		9,104
Stock options and restricted stock	52		45
Weighted average Common Shares outstanding and OP Units – Fully Diluted	200,176		200,074

Earnings per Common Share – Basic	$	0.56	$	0.57

Earnings per Common Share – Fully Diluted	$	0.56	$	0.57