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Earnings Per Common Share | 3 Months Ended
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Mar. 31, 2025
Earnings Per Share [Abstract] |
Earnings Per Common Share | Earnings Per Common Share The following table summarizes the average number of common shares and the net income used in the calculation of basic and diluted earnings per common share ($ in thousands, except share and per share amounts):
| Three Months Ended |  |
| March 31, |  |
| 2025 |  | 2024 |  |  |  |
Net income | $ | 33,817 |  |  | $ | 30,657 |  |  |  |  |
Add: net loss attributable to noncontrolling interests | 348 |  |  | 290 |  |  |  |  |
Net income attributable to stockholders | 34,165 |  |  | 30,947 |  |  |  |  |
Less: net income attributable to unvested restricted stock awards | (52) |  |  | (32) |  |  |  |  |
Net income attributable to common stockholders - basic and diluted | $ | 34,113 |  |  | $ | 30,915 |  |  |  |  |
BASIC: |  |  |  |  |  |  |
Weighted average common shares outstanding | 45,720,496 |  |  | 43,388,841 |  |  |  |  |
DILUTED: |  |  |  |  |  |  |
Weighted average common shares outstanding | 45,720,496 |  |  | 43,388,841 |  |  |  |  |
Stock options | 120,827 |  |  | 35,709 |  |  |  |  |
Forward equity sales agreements | 37,205 |  |  | — |  |  |  |  |
Weighted average dilutive common shares outstanding | 45,878,528 |  |  | 43,424,550 |  |  |  |  |
Earnings per common share - basic | $ | 0.75 |  |  | $ | 0.71 |  |  |  |  |
Earnings per common share - diluted | $ | 0.74 |  |  | $ | 0.71 |  |  |  |  |
Incremental anti-dilutive shares excluded: |  |  |  |  |  |  |
Net share effect of stock options with an exercise price in excess of the average market price for our common shares | 104,699 |  |  | 492,675 |  |  |  |  |
Regular dividends declared per common share | $ | 0.90 |  |  | $ | 0.90 |  |  |  |  |

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