EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2025

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 March 31,
	2025		2024
Numerator for basic and diluted earnings per share:

Net income (loss)	48,356		(12,540)
Net income attributable to noncontrolling interests	1,488		1,772
Net income (loss) attributable to common stockholders	$	46,868	$	(14,312)
Denominator:
Denominator for basic earnings per share—weighted average shares	439,931		403,365
Effect of dilutive securities:

Restricted stock awards	506		416
OP unitholder interests	3,401		3,446
Exchangeable Notes	2,221		—
Equity forward sales agreements	365		—
Denominator for diluted earnings per share—adjusted weighted average shares	446,424		407,227
Basic earnings per share:
Net income (loss)	$	0.11	$	(0.03)
Net income (loss) attributable to common stockholders	0.11		(0.04)
Diluted earnings per share: (1)
Net income (loss)	$	0.11	$	(0.03)
Net income (loss) attributable to common stockholders	0.10		(0.04)

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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.