Earnings Per Share and Earnings Per Unit (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Calculation of Numerator and Denominator in Earnings Per Share and Earnings Per Unit

The following tables set forth the computation of net income per share – basic and net income per share – diluted for the Company (amounts in thousands except per share amounts):

	Quarter Ended March 31,
	2025			2024
Numerator for net income per share – basic:
Net income	$	264,798		$	305,032
Allocation to Noncontrolling Interests – Operating Partnership		(7,102	)		(8,275	)
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(1,104	)		(970	)
Preferred distributions		(356	)		(547	)
Premium on redemption of Preferred Shares		—			(1,444	)
Numerator for net income per share – basic	$	256,236		$	293,796
Numerator for net income per share – diluted:
Net income	$	264,798		$	305,032
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(1,104	)		(970	)
Preferred distributions		(356	)		(547	)
Premium on redemption of Preferred Shares		—			(1,444	)
Numerator for net income per share – diluted	$	263,338		$	302,071
Denominator for net income per share – basic and diluted:
Denominator for net income per share – basic		379,208			378,812
Effect of dilutive securities:
OP Units		10,511			10,669
Long-term compensation shares/units		1,460			1,080
Denominator for net income per share – diluted		391,179			390,561
Net income per share – basic	$	0.68		$	0.78
Net income per share – diluted	$	0.67		$	0.77

ERPOP [Member]

Schedule of Calculation of Numerator and Denominator in Earnings Per Share and Earnings Per Unit

The following tables set forth the computation of net income per Unit – basic and net income per Unit – diluted for the Operating Partnership (amounts in thousands except per Unit amounts):

	Quarter Ended March 31,
	2025			2024
Numerator for net income per Unit – basic and diluted:
Net income	$	264,798		$	305,032
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(1,104	)		(970	)
Allocation to Preference Units		(356	)		(547	)
Allocation to premium on redemption of Preference Units		—			(1,444	)
Numerator for net income per Unit – basic and diluted	$	263,338		$	302,071
Denominator for net income per Unit – basic and diluted:
Denominator for net income per Unit – basic		389,719			389,481
Effect of dilutive securities:
Dilution for Units issuable upon assumed exercise/vesting    of the Company’s long-term compensation shares/units		1,460			1,080
Denominator for net income per Unit – diluted		391,179			390,561
Net income per Unit – basic	$	0.68		$	0.78
Net income per Unit – diluted	$	0.67		$	0.77