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Earnings Per Share | 6 Months Ended
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Jun. 30, 2025
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following table presents the calculations of basic and diluted earnings per share (in thousands, except share and per share amounts):
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Net income | $ | 36,689 |  |  | $ | 34,952 |  |  | $ | 70,506 |  |  | $ | 65,610 |
Add: Net loss attributable to noncontrolling interests | 298 |  |  | 304 |  |  | 646 |  |  | 593 |
Net income attributable to stockholders | 36,987 |  |  | 35,256 |  |  | 71,152 |  |  | 66,203 |
Less: Net income attributable to unvested |  |  |  |  |  |  |
restricted stock awards | (49) |  |  | (29) |  |  | (101) |  |  | (61) |
Net income attributable to common stockholders | $ | 36,938 |  |  | $ | 35,227 |  |  | $ | 71,051 |  |  | $ | 66,142 |
Weighted average common shares outstanding - basic | 46,691,953 |  |  | 43,397,080 |  |  | 46,206,225 |  |  | 43,392,961 |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock options | 126,667 |  |  | 166,574 |  |  | 123,747 |  |  | 101,142 |
Forward equity sales | 3,845 |  |  | — |  |  | 20,526 |  |  | — |
Weighted average common shares |  |  |  |  |  |  |
outstanding - diluted | 46,822,465 |  |  | 43,563,654 |  |  | 46,350,498 |  |  | 43,494,103 |
Earnings per share - basic | $ | 0.79 |  |  | $ | 0.81 |  |  | $ | 1.54 |  |  | $ | 1.52 |
Earnings per share - diluted | $ | 0.79 |  |  | $ | 0.81 |  |  | $ | 1.53 |  |  | $ | 1.52 |
Anti-dilutive shares excluded: |  |  |  |  |  |  |
Stock options | 39,546 |  |  | 261,255 |  |  | 72,123 |  |  | 376,965 |
Regular dividends declared per common share | $ | 0.90 |  |  | $ | 0.90 |  |  | $ | 1.80 |  |  | $ | 1.80 |

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