Equity (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of dividends declared by the Company (on a per share basis)


Common Stock			Preferred Stock
				Dividend (1)
Declaration Date	Dividend		Declaration Date	Series A		Series B		Series C		Series D		Series E
February 17, 2021	$	0.33	February 1, 2021	$	0.515625	$	0.484375	$	0.53125		N/A		N/A
May 5, 2021	$	0.34	April 30, 2021	$	0.515625	$	0.484375	$	0.53125		N/A		N/A
July 28, 2021	$	0.35	July 2, 2021		N/A		N/A		N/A	$	0.25677		N/A
October 27, 2021	$	0.36	October 1, 2021		N/A		N/A		N/A	$	0.3984375	$	0.34288

(1)

The dividend declared on October 1, 2021 for Series D and E were for July 30, 2021 through October 29, 2021 and August 11, 2021 (the date of issuance) through October 29, 2021, respectively. The dividend declared on July 2, 2021 was for June 2, 2021 through July 29, 2021, the dividend declared on April 30, 2021 was for March 1, 2021 through May 31, 2021 and the dividend declared on February 1, 2021 was for December 1, 2020 through February 28, 2021. As mentioned above, we fully redeemed our Series A, B and C preferred stock in June 2021.

Schedule of reconciliation of the numerator and denominator of the basic and diluted EPS computations

A reconciliation of the numerator and denominator of our basic and diluted EPS computations ($ in thousands, except share and per share data) is as follows:


	Year Ended December 31,
	2021				2020				2019
	Basic		Diluted		Basic		Diluted		Basic		Diluted
Net income attributable to common stockholders (1)	$	317,412	$	317,412	$	163,395	$	163,395	$	121,074	$	121,074
Net income attributable to noncontrolling interest (2)		—		38,507		—		25,208		—		26,610
Net income attributable to common stockholders and noncontrolling interest	$	317,412	$	355,919	$	163,395	$	188,603	$	121,074	$	147,684
Weighted average shares outstanding		137,830,691		137,830,691		113,811,471		113,811,471		92,851,327		92,851,327
Dilutive effect of OP Units (2)		—		16,818,722		—		19,395,691		—		20,502,128
Dilutive effect of restricted stock units (3)		—		933,233		—		718,647		—		1,421,528
Dilutive effect of convertible notes (4)		—		506,949		—		43,487		—		1,417,968
Weighted average shares outstanding		137,830,691		156,089,595		113,811,471		133,969,296		92,851,327		116,192,951
Net income per common share (1)	$	2.30	$	2.28	$	1.44	$	1.41	$	1.30	$	1.27

(1)	Net of preferred stock dividends.

(2)	We consider OP Units to be common stock equivalents as the holders have voting rights, the right to distributions and the right to redeem the OP Units for the cash value of a corresponding number of shares of common stock or a corresponding number of shares of common stock, at our election.

(3)	Our chief executive officer was granted restricted stock units, which vest at the end of a four-year performance period based upon our achievement of total stockholder return objectives.

(4)

The convertible senior unsecured notes impact diluted earnings per share if the average price of our common stock exceeds the conversion price, as calculated in accordance with the terms of the indenture. Our adoption of ASU 2020-06 on January 1, 2022 changes the way in which we account for our convertible debt, see Note 2 for details.