Earnings Per Share

3 Months Ended

Mar. 31, 2026

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, 2026 and 2025.


	Three months ended March 31,
Earnings Per Share (in thousands, except per share data)	2026		2025
Numerator
Net income attributable to common stockholders	$	61,961	$	91,340
Denominator
Weighted average common shares outstanding — basic	190,996		186,468
Effect of dilutive securities(1)
Share-based compensation	241		290
Shares issuable under forward sale agreements	1		—
Weighted average common shares outstanding — diluted	191,238		186,758
Net income per share — basic and diluted
Net income per share attributable to common stockholders — basic	$	0.32	$	0.49
Net income per share attributable to common stockholders — diluted	$	0.32	$	0.49

(1)During the three months ended March 31, 2026 and 2025, there were approximately 99 and 115 unvested restricted shares of common stock (on a weighted average basis), respectively, that were considered participating securities for the purposes of computing earnings per share 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.