v3.24.3
Earnings per Share - Summary of Components used in Calculation of Basic and Diluted Earnings per Share (Detail) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Basic earnings:        
Net Income (Loss) $ 35,608 $ 49,682 $ 136,051 $ 149,000
Less: earnings allocated to unvested restricted shares (284) (142) (879) (420)
Net earnings used to compute basic earnings per common share 35,324 49,540 135,172 148,580
Diluted earnings:        
Net earnings used to compute basic earnings per share 35,324 49,540 135,172 148,580
Add: net earnings attributable to OP unit holders 1,660 2,463 5,331 7,515
Net earnings used to compute diluted earnings per common share $ 36,984 $ 52,003 $ 141,503 $ 156,095
Weighted average number of common shares outstanding 188,521,000 187,272,000 188,315,000 187,026,000
Less: weighted average unvested restricted shares [1] (1,025,000) (506,000) (907,000) (481,000)
Weighted average number of common shares outstanding used in basic earnings per common share 187,496,000 186,766,000 187,408,000 186,545,000
Add: effects of restricted stock units [2] 649,000 322,000 572,000 267,000
Add: effects of convertible OP units [3] 8,787,000 9,284,000 8,819,000 9,470,000
Weighted average number of common shares outstanding used in diluted earnings per common share 196,932,000 196,372,000 196,799,000 196,282,000
Basic $ 0.19 $ 0.27 $ 0.72 $ 0.8
Diluted $ 0.19 $ 0.26 $ 0.72 $ 0.8
Common Stock And O P Units [Member]        
Diluted earnings:        
Add: net earnings attributable to OP unit holders $ 1,660 $ (2,463) $ (6,331) $ (7,515)
[1] Represents the weighted average effects of 979,140 and 505,668 unvested restricted shares of common stock as of September 30, 2024 and 2023, respectively, which will be excluded from the computation of earnings per share until they vest.
[2] Represents the weighted average effects of shares of common stock to be issued as though the end of the period were the end of the performance period (see Note 13).
[3] Represents the weighted average effects of 8,754,702 and 9,282,953 OP Units outstanding at September 30, 2024 and 2023, respectively.