Equity (Tables)

6 Months Ended

Jun. 30, 2024

Stockholders' Equity Note [Abstract]

Dividends declared (on a per share basis) during the six months ended June 30, 2024 are as follows:


Common Stock			Preferred Stock
				Dividend
Declaration Date	Dividend		Declaration Date	Series D		Series E		Series F
February 14, 2024	$	0.43	March 29, 2024	$	0.3984375	$	0.390625	$	0.390625
May 1, 2024	$	0.43	June 28, 2024	$	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 June 30,
	2024				2023
	Basic		Diluted		Basic		Diluted
Net income attributable to common stockholders (1)	$	47,397	$	47,397	$	76,164	$	76,164
Net income attributable to noncontrolling interest (2)	—		4,094		—		6,826
Interest expense on convertible notes	—		—		—		6,081
Net income attributable to common stockholders and noncontrolling interest	$	47,397	$	51,491	$	76,164	$	89,071
Weighted average shares outstanding	188,655,801		188,655,801		181,815,469		181,815,469
Dilutive effect of OP Units (2)	—		16,293,589		—		16,293,589
Dilutive effect of convertible notes (3)	—		—		—		17,270,615
Dilutive effect of RSUs (4)	—		538,321		—		682,203
Weighted average shares outstanding	188,655,801		205,487,711		181,815,469		216,061,876
Net income per common share (1)	$	0.25	$	0.25	$	0.42	$	0.41

	Six Months Ended June 30,
	2024				2023
Net income attributable to common stockholders (1)	$	105,270	$	105,270	$	160,483	$	160,483
Net income attributable to noncontrolling interest (2)	—		9,090		—		14,411
Interest expense on convertible notes	—		—		—		12,163
Net income attributable to common stockholders and noncontrolling interest	$	105,270	$	114,360	$	160,483	$	187,057
Weighted average shares outstanding	188,683,095		188,683,095		181,468,002		181,468,002
Dilutive effect of OP Units (2)	—		16,293,589		—		16,293,589
Dilutive effect of convertible notes (3)	—		—		—		17,250,598
Dilutive effect of RSUs (4)	—		522,935		—		477,415
Weighted average shares outstanding	188,683,095		205,499,619		181,468,002		215,489,604
Net income per common share (1)	$	0.56	$	0.56	$	0.88	$	0.87

________________________

(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)The convertible senior unsecured notes were antidilutive for the three and six months ended June 30, 2024.

(4)Our chief executive officer was granted RSUs, which vest at the end of a 4-year performance period based upon our achievement of total stockholder return objectives.