Earnings per Share and Unit (Tables)

12 Months Ended

Dec. 31, 2025

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)	2025		2024		2023
Numerator:
Net income attributable to common shareholders - basic	$	513,810		386,738		359,500
Net income attributable to common shareholders - diluted	$	513,810		386,738		359,500
Denominator:
Weighted average common shares outstanding for basic EPS		181,902		182,817		176,085
Weighted average common shares outstanding for diluted EPS (1)		182,234		183,040		176,371
Net income per common share – basic	$	2.82		2.12		2.04
Net income per common share – diluted	$	2.82		2.11		2.04

(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)	2025		2024		2023
Numerator:
Net income attributable to common unit holders - basic	$	520,879		389,076		361,508
Net income attributable to common unit holders - diluted	$	520,879		389,076		361,508
Denominator:
Weighted average common units outstanding for basic EPU		184,206		183,916		177,038
Weighted average common units outstanding for diluted EPU (1)		184,538		184,139		177,324
Net income per common unit – basic	$	2.83		2.12		2.04
Net income per common unit – diluted	$	2.82		2.11		2.04

(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.