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Earnings Per Share and Per Unit | 12 Months Ended
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Dec. 31, 2024
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:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Earnings per Common Share - basic: |  |  |  |  |
Numerator: |  |  |  |  |
Net income | $ | 104,254 |  |  | $ | 151,330 |  |  | $ | 163,958 |
Net (income) attributable to noncontrolling interests in the Operating Partnership | (2,040) |  |  | (3,164) |  |  | (3,670) |
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates | 34 |  |  | 549 |  |  | (1,230) |
Dividends on Preferred Stock | (2,485) |  |  | (2,485) |  |  | (2,486) |
Net income available for common stockholders | $ | 99,763 |  |  | $ | 146,230 |  |  | $ | 156,572 |
Denominator: |  |  |  |  |
Denominator for basic earnings per Common Share – weighted average shares (1) | 106,167 |  |  | 105,529 |  |  | 105,120 |
Net income available for common stockholders | $ | 0.94 |  |  | $ | 1.39 |  |  | $ | 1.49 |
Earnings per Common Share - diluted: |  |  |  |  |
Numerator: |  |  |  |  |
Net income | $ | 104,254 |  |  | $ | 151,330 |  |  | $ | 163,958 |
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates | 34 |  |  | 549 |  |  | (1,230) |
Dividends on Preferred Stock | (2,485) |  |  | (2,485) |  |  | (2,486) |
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership | $ | 101,803 |  |  | $ | 149,394 |  |  | $ | 160,242 |
Denominator: |  |  |  |  |
Denominator for basic earnings per Common Share – weighted average shares (1) | 106,167 |  |  | 105,529 |  |  | 105,120 |
Add: |  |  |  |  |
Stock options using the treasury method | — |  |  | — |  |  | 5 |
Noncontrolling interests Common Units | 2,152 |  |  | 2,256 |  |  | 2,442 |
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions | 108,319 |  |  | 107,785 |  |  | 107,567 |
Net income available for common stockholders | $ | 0.94 |  |  | $ | 1.39 |  |  | $ | 1.49 |
__________ (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:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Earnings per Common Unit - basic: |  |  |  |  |
Numerator: |  |  |  |  |
Net income | $ | 104,254 |  |  | $ | 151,330 |  |  | $ | 163,958 |
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates | 34 |  |  | 549 |  |  | (1,230) |
Distributions on Preferred Units | (2,485) |  |  | (2,485) |  |  | (2,486) |
Net income available for common unitholders | $ | 101,803 |  |  | $ | 149,394 |  |  | $ | 160,242 |
Denominator: |  |  |  |  |
Denominator for basic earnings per Common Unit – weighted average units (1) | 107,910 |  |  | 107,376 |  |  | 107,153 |
Net income available for common unitholders | $ | 0.94 |  |  | $ | 1.39 |  |  | $ | 1.50 |
Earnings per Common Unit - diluted: |  |  |  |  |
Numerator: |  |  |  |  |
Net income | $ | 104,254 |  |  | $ | 151,330 |  |  | $ | 163,958 |
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates | 34 |  |  | 549 |  |  | (1,230) |
Distributions on Preferred Units | (2,485) |  |  | (2,485) |  |  | (2,486) |
Net income available for common unitholders | $ | 101,803 |  |  | $ | 149,394 |  |  | $ | 160,242 |
Denominator: |  |  |  |  |
Denominator for basic earnings per Common Unit – weighted average units (1) | 107,910 |  |  | 107,376 |  |  | 107,153 |
Add: |  |  |  |  |
Stock options using the treasury method | — |  |  | — |  |  | 5 |
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions | 107,910 |  |  | 107,376 |  |  | 107,158 |
Net income available for common unitholders | $ | 0.94 |  |  | $ | 1.39 |  |  | $ | 1.50 |
__________ (1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.

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