EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2024

Computation of Basic and Diluted Earnings Per Common Share

The following table shows the amounts used in computing our basic and diluted earnings per share (in thousands, except per share amounts):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator for basic and diluted earnings per share:

Net income (loss)	20,996		(69,559)		29,624		54,419
Net income attributable to noncontrolling interests	1,753		1,565		5,306		4,573
Net income (loss) attributable to common stockholders	$	19,243	$	(71,124)	$	24,318	$	49,846
Denominator:
Denominator for basic earnings per share—weighted average shares	414,599		402,859		408,691		401,424
Effect of dilutive securities:

Restricted stock awards	476		327		340		268
OP unitholder interests	3,415		3,469		3,427		3,474
Exchangeable Notes	964		—		321		—
Forward sales agreements	19		—		7		—
Denominator for diluted earnings per share—adjusted weighted average shares	419,474		406,655		412,785		405,166
Basic earnings per share:
Net income (loss)	$	0.05	$	(0.17)	$	0.07	$	0.14
Net income (loss) attributable to common stockholders	0.05		(0.18)		0.06		0.12
Diluted earnings per share: (1)
Net income (loss)	$	0.05	$	(0.17)	$	0.07	$	0.13
Net income (loss) attributable to common stockholders	0.05		(0.18)		0.06		0.12

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(1) Potential common shares are not included in the computation of diluted earnings per share when a net loss exists as the effect would be an antidilutive per share amount.