Equity (Tables)

12 Months Ended

Dec. 31, 2023

Stockholders' Equity Note [Abstract]

Distributions. Dividends declared (on a per share basis) for the year ended December 31, 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
October 25, 2023	$	0.43	September 29, 2023	$	0.3984375	$	0.390625	$	0.390625
			December 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):


	Year Ended December 31,
	2023				2022				2021
	Basic		Diluted		Basic		Diluted		Basic		Diluted
Net income attributable to common stockholders (1)	$	330,065	$	330,065	$	284,829	$	284,829	$	317,412	$	317,412
Net income attributable to noncontrolling interest (2)	—		29,122		—		28,044		—		38,507
Interest expense on convertible notes (3)	—		24,832		—		20,166		—		—
Net income attributable to common stockholders and noncontrolling interest	$	330,065	$	384,019	$	284,829	$	333,039	$	317,412	$	355,919
Weighted average shares outstanding	184,641,642		184,641,642		165,355,167		165,355,167		137,830,691		137,830,691
Dilutive effect of OP Units (2)	—		16,293,589		—		16,304,638		—		16,818,722
Dilutive effect of convertible notes (3)	—		17,294,392		—		16,900,204		—		506,949
Dilutive effect of restricted stock units (4)	—		613,990		—		552,621		—		933,233
Weighted average shares outstanding	184,641,642		218,843,613		165,355,167		199,112,630		137,830,691		156,089,595
Net income per common share (1)	$	1.79	$	1.75	$	1.72	$	1.67	$	2.30	$	2.28

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(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)Beginning January 1, 2022, the effective date we adopted ASU 2020-06, we started utilizing the if-converted method of calculating EPS to reflect the impact of our convertible senior notes. For 2021, the convertible senior notes impacted diluted EPS if the average price of our common stock exceeded the conversion price, as calculated in accordance with the terms of the indenture.

(4)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.