Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of computation of basic and diluted earnings per common share

The following table reconciles the numerators and denominators in the computation of basic and diluted earnings per share of common stock for the three months ended March 31, 2022 and 2021.


	Three months ended March 31,
Earnings Per Share (in thousands, except per share data)	2022		2021
Numerator
Net income attributable to common stockholders	$	52,764	$	20,931
Denominator
Weighted average common shares outstanding — basic	177,827		158,430
Effect of dilutive securities(1)
Share-based compensation	238		350
Shares issuable under forward sales agreements	—		346
Weighted average common shares outstanding — diluted	178,065		159,126
Net income per share — basic and diluted
Net income per share attributable to common stockholders — basic	$	0.30	$	0.13
Net income per share attributable to common stockholders — diluted	$	0.30	$	0.13

(1)During the three months ended March 31, 2022 and 2021, there were approximately 165 and 199, unvested restricted shares of common stock (on a weighted average basis), respectively, that were not included in the computation of diluted earnings per share because the allocation of income under the two-class method was more dilutive.