Equity (Tables)

9 Months Ended

Sep. 30, 2023

Stockholders' Equity Note [Abstract]

Dividends declared (on a per share basis) during the nine months ended September 30, 2023 are as follows:


Common Stock			Preferred Stock
				Dividend
Declaration Date	Dividend		Declaration Date	Series D		Series E		Series F
February 15, 2023	$	0.40	January 3, 2023	$	0.3984375	$	0.390625	$	0.390625
May 3, 2023	$	0.42	March 31, 2023	$	0.3984375	$	0.390625	$	0.390625
July 26, 2023	$	0.43	June 30, 2023	$	0.3984375	$	0.390625	$	0.390625
			September 29, 2023	$	0.3984375	$	0.390625	$	0.390625

Schedule of Earnings Per Share, Basic and Diluted

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


	Three Months Ended September 30,
	2023				2022
	Basic		Diluted		Basic		Diluted
Net income attributable to common stockholders (1)	$	77,924	$	77,924	$	62,710	$	62,710
Net income attributable to noncontrolling interest (2)	—		6,789		—		6,002
Interest expense on convertible notes	—		6,081		—		5,797
Net income attributable to common stockholders and noncontrolling interest	$	77,924	$	90,794	$	62,710	$	74,509
Weighted average shares outstanding	187,023,395		187,023,395		170,227,553		170,227,553
Dilutive effect of OP Units (2)	—		16,293,589		—		16,293,589
Dilutive effect of convertible notes	—		17,312,382		—		18,815,399
Dilutive effect of restricted stock units (3)	—		699,452		—		528,475
Weighted average shares outstanding	187,023,395		221,328,818		170,227,553		205,865,016
Net income per common share (1)	$	0.42	$	0.41	$	0.37	$	0.36

	Nine Months Ended September 30,
	2023				2022
Net income attributable to common stockholders (1)	$	238,407	$	238,407	$	196,678	$	196,678
Net income attributable to noncontrolling interest (2)	—		21,200		—		19,811
Interest expense on convertible notes	—		18,244		—		13,786
Net income attributable to common stockholders and noncontrolling interest	$	238,407	$	277,851	$	196,678	$	230,275
Weighted average shares outstanding	183,340,149		183,340,149		162,292,235		162,292,235
Dilutive effect of OP Units (2)	—		16,293,589		—		16,308,361
Dilutive effect of convertible notes	—		17,271,419		—		16,370,528
Dilutive effect of restricted stock units (3)	—		552,242		—		558,216
Weighted average shares outstanding	183,340,149		217,457,399		162,292,235		195,529,340
Net income per common share (1)	$	1.30	$	1.28	$	1.21	$	1.18

________________________

(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.