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Earnings Per Share and Per Unit | 9 Months Ended
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Sep. 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 September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Earnings per Common Share - basic: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income | $ | 23,171 |  |  | $ | 40,110 |  |  | $ | 111,995 |  |  | $ | 134,815 |
Net (income) attributable to noncontrolling interests in the Operating Partnership | (453) |  |  | (881) |  |  | (2,386) |  |  | (3,049) |
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates | 5 |  |  | (357) |  |  | 488 |  |  | (880) |
Dividends on Preferred Stock | (622) |  |  | (621) |  |  | (1,864) |  |  | (1,864) |
Net income available for common stockholders | $ | 22,101 |  |  | $ | 38,251 |  |  | $ | 108,233 |  |  | $ | 129,022 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per Common Share – weighted average shares (1) | 105,671 |  |  | 105,184 |  |  | 105,473 |  |  | 105,094 |
Net income available for common stockholders | $ | 0.21 |  |  | $ | 0.36 |  |  | $ | 1.03 |  |  | $ | 1.23 |
Earnings per Common Share - diluted: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income | $ | 23,171 |  |  | $ | 40,110 |  |  | $ | 111,995 |  |  | $ | 134,815 |
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates | 5 |  |  | (357) |  |  | 488 |  |  | (880) |
Dividends on Preferred Stock | (622) |  |  | (621) |  |  | (1,864) |  |  | (1,864) |
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership | $ | 22,554 |  |  | $ | 39,132 |  |  | $ | 110,619 |  |  | $ | 132,071 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per Common Share – weighted average shares (1) | 105,671 |  |  | 105,184 |  |  | 105,473 |  |  | 105,094 |
Add: |  |  |  |  |  |  |
Stock options using the treasury method | — |  |  | — |  |  | — |  |  | 7 |
Noncontrolling interests Common Units | 2,161 |  |  | 2,417 |  |  | 2,289 |  |  | 2,469 |
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions | 107,832 |  |  | 107,601 |  |  | 107,762 |  |  | 107,570 |
Net income available for common stockholders | $ | 0.21 |  |  | $ | 0.36 |  |  | $ | 1.03 |  |  | $ | 1.23 |
__________ (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 September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Earnings per Common Unit - basic: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income | $ | 23,171 |  |  | $ | 40,110 |  |  | $ | 111,995 |  |  | $ | 134,815 |
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates | 5 |  |  | (357) |  |  | 488 |  |  | (880) |
Distributions on Preferred Units | (622) |  |  | (621) |  |  | (1,864) |  |  | (1,864) |
Net income available for common unitholders | $ | 22,554 |  |  | $ | 39,132 |  |  | $ | 110,619 |  |  | $ | 132,071 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per Common Unit – weighted average units (1) | 107,423 |  |  | 107,192 |  |  | 107,353 |  |  | 107,154 |
Net income available for common unitholders | $ | 0.21 |  |  | $ | 0.37 |  |  | $ | 1.03 |  |  | $ | 1.23 |
Earnings per Common Unit - diluted: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income | $ | 23,171 |  |  | $ | 40,110 |  |  | $ | 111,995 |  |  | $ | 134,815 |
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates | 5 |  |  | (357) |  |  | 488 |  |  | (880) |
Distributions on Preferred Units | (622) |  |  | (621) |  |  | (1,864) |  |  | (1,864) |
Net income available for common unitholders | $ | 22,554 |  |  | $ | 39,132 |  |  | $ | 110,619 |  |  | $ | 132,071 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per Common Unit – weighted average units (1) | 107,423 |  |  | 107,192 |  |  | 107,353 |  |  | 107,154 |
Add: |  |  |  |  |  |  |
Stock options using the treasury method | — |  |  | — |  |  | — |  |  | 7 |
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions | 107,423 |  |  | 107,192 |  |  | 107,353 |  |  | 107,161 |
Net income available for common unitholders | $ | 0.21 |  |  | $ | 0.37 |  |  | $ | 1.03 |  |  | $ | 1.23 |
__________ (1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable .

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