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Earnings Per Share and Per Unit | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Earnings Per Share and Per Unit | Earnings Per Share and Per Unit The following table sets forth the computation of basic and diluted earnings per share of the Company:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Earnings per Common Share - basic: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income | $ | 43,870 |  |  | $ | 52,602 |  |  | $ | 88,824 |  |  | $ | 94,705 |
Net (income) attributable to noncontrolling interests in the Operating Partnership | (947) |  |  | (1,203) |  |  | (1,933) |  |  | (2,168) |
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates | (4) |  |  | (266) |  |  | 483 |  |  | (523) |
Dividends on Preferred Stock | (621) |  |  | (622) |  |  | (1,242) |  |  | (1,243) |
Net income available for common stockholders | $ | 42,298 |  |  | $ | 50,511 |  |  | $ | 86,132 |  |  | $ | 90,771 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per Common Share – weighted average shares (1) | 105,457 |  |  | 105,163 |  |  | 105,373 |  |  | 105,049 |
Net income available for common stockholders | $ | 0.40 |  |  | $ | 0.48 |  |  | $ | 0.82 |  |  | $ | 0.86 |
Earnings per Common Share - diluted: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income | $ | 43,870 |  |  | $ | 52,602 |  |  | $ | 88,824 |  |  | $ | 94,705 |
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates | (4) |  |  | (266) |  |  | 483 |  |  | (523) |
Dividends on Preferred Stock | (621) |  |  | (622) |  |  | (1,242) |  |  | (1,243) |
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership | $ | 43,245 |  |  | $ | 51,714 |  |  | $ | 88,065 |  |  | $ | 92,939 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per Common Share – weighted average shares (1) | 105,457 |  |  | 105,163 |  |  | 105,373 |  |  | 105,049 |
Add: |  |  |  |  |  |  |
Stock options using the treasury method | — |  |  | 5 |  |  | — |  |  | 10 |
Noncontrolling interests Common Units | 2,351 |  |  | 2,486 |  |  | 2,355 |  |  | 2,495 |
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions | 107,808 |  |  | 107,654 |  |  | 107,728 |  |  | 107,554 |
Net income available for common stockholders | $ | 0.40 |  |  | $ | 0.48 |  |  | $ | 0.82 |  |  | $ | 0.86 |
__________ (1)Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable. The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Earnings per Common Unit - basic: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income | $ | 43,870 |  |  | $ | 52,602 |  |  | $ | 88,824 |  |  | $ | 94,705 |
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates | (4) |  |  | (266) |  |  | 483 |  |  | (523) |
Distributions on Preferred Units | (621) |  |  | (622) |  |  | (1,242) |  |  | (1,243) |
Net income available for common unitholders | $ | 43,245 |  |  | $ | 51,714 |  |  | $ | 88,065 |  |  | $ | 92,939 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per Common Unit – weighted average units (1) | 107,399 |  |  | 107,240 |  |  | 107,319 |  |  | 107,135 |
Net income available for common unitholders | $ | 0.40 |  |  | $ | 0.48 |  |  | $ | 0.82 |  |  | $ | 0.87 |
Earnings per Common Unit - diluted: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income | $ | 43,870 |  |  | $ | 52,602 |  |  | $ | 88,824 |  |  | $ | 94,705 |
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates | (4) |  |  | (266) |  |  | 483 |  |  | (523) |
Distributions on Preferred Units | (621) |  |  | (622) |  |  | (1,242) |  |  | (1,243) |
Net income available for common unitholders | $ | 43,245 |  |  | $ | 51,714 |  |  | $ | 88,065 |  |  | $ | 92,939 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per Common Unit – weighted average units (1) | 107,399 |  |  | 107,240 |  |  | 107,319 |  |  | 107,135 |
Add: |  |  |  |  |  |  |
Stock options using the treasury method | — |  |  | 5 |  |  | — |  |  | 10 |
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions | 107,399 |  |  | 107,245 |  |  | 107,319 |  |  | 107,145 |
Net income available for common unitholders | $ | 0.40 |  |  | $ | 0.48 |  |  | $ | 0.82 |  |  | $ | 0.87 |
__________ (1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable .

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