Earnings Per Share and Earnings Per Unit (Tables)

3 Months Ended

Mar. 31, 2022

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,
	2022			2021
Numerator for net income per share – basic:
Net income	$	73,798		$	60,364
Allocation to Noncontrolling Interests – Operating Partnership		(2,394	)		(2,143	)
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(639	)		(682	)
Preferred distributions		(772	)		(773	)
Numerator for net income per share – basic	$	69,993		$	56,766
Numerator for net income per share – diluted:
Net income	$	73,798		$	60,364
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(639	)		(682	)
Preferred distributions		(772	)		(773	)
Numerator for net income per share – diluted	$	72,387		$	58,909
Denominator for net income per share – basic and diluted:
Denominator for net income per share – basic		375,509			372,280
Effect of dilutive securities:
OP Units		11,888			13,050
Long-term compensation shares/units		2,090			1,586
ATM forward sales		141			—
Denominator for net income per share – diluted		389,628			386,916
Net income per share – basic	$	0.19		$	0.15
Net income per share – diluted	$	0.19		$	0.15

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,
	2022			2021
Numerator for net income per Unit – basic and diluted:
Net income	$	73,798		$	60,364
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(639	)		(682	)
Allocation to Preference Units		(772	)		(773	)
Numerator for net income per Unit – basic and diluted	$	72,387		$	58,909
Denominator for net income per Unit – basic and diluted:
Denominator for net income per Unit – basic		387,397			385,330
Effect of dilutive securities:
Dilution for Units issuable upon assumed exercise/vesting    of the Company’s long-term compensation shares/units		2,090			1,586
ATM forward sales		141			—
Denominator for net income per Unit – diluted		389,628			386,916
Net income per Unit – basic	$	0.19		$	0.15
Net income per Unit – diluted	$	0.19		$	0.15