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EARNINGS PER SHARE OR UNIT (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Earnings per Share, Basic and Diluted

The following summarizes the calculation of basic and diluted earnings per share for the Parent Company for the years ended December 31, 2024, 2023 and 2022. We have omitted the calculation of basic and diluted earnings per unit since the dilutive securities for the Operating Partnership are the same as those for the Parent Company (dollars in thousands, except per share data):


	Year Ended December 31,
	2024		2023		2022
Numerator:
Net income (loss) attributable to common shareholders – basic and diluted	$	4,071	$	47,498	$	(12,636)

Denominator:
Weighted average common shares outstanding – basic	219,614,149		219,344,832		219,074,448
Effect of dilutive securities:
AO LTIP Units	43,331		325,603		—
Deferred common share units	70,016		57,848		—
Exchangeable Notes	—		—		—
Weighted average common shares outstanding – diluted	219,727,496		219,728,283		219,074,448

Net income (loss) per common share – basic	$	0.02	$	0.22	$	(0.06)
Net income (loss) per common share – diluted	$	0.02	$	0.22	$	(0.06)