Earnings per Share and Unit (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per share:

	Year ended December 31,
(in thousands, except per share data)	2024		2023		2022
Numerator:
Net income attributable to common shareholders - basic	$	386,738		359,500		482,865
Net income attributable to common shareholders - diluted	$	386,738		359,500		482,865
Denominator:
Weighted average common shares outstanding for basic EPS		182,817		176,085		171,404
Weighted average common shares outstanding for diluted EPS (1)		183,040		176,371		171,791
Net income per common share – basic	$	2.12		2.04		2.82
Net income per common share – diluted	$	2.11		2.04		2.81

(1)Using the treasury stock method, the calculation includes the dilutive effect of unvested restricted stock and shares to be issued under the forward sale agreements.

Partnership Interest [Member]

Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per unit ("EPU"):

	Year ended December 31,
(in thousands, except per unit data)	2024		2023		2022
Numerator:
Net income attributable to common unit holders - basic	$	389,076		361,508		484,970
Net income attributable to common unit holders - diluted	$	389,076		361,508		484,970
Denominator:
Weighted average common units outstanding for basic EPU		183,916		177,038		172,152
Weighted average common units outstanding for diluted EPU (1)		184,139		177,324		172,540
Net income per common unit – basic	$	2.12		2.04		2.82
Net income per common unit – diluted	$	2.11		2.04		2.81

(1)Using the treasury stock method, the calculation includes the dilutive effect of unvested restricted units and units to be issued under the forward sale agreements.