Three Months Ended September 30,

Nine Months Ended September 30,

(in thousands, except for share and per share amounts)

2022

2021

2022

2021

Basic Earnings

Net income

$

66,253

$

46,535

$

189,481

$

106,386

Less: Income attributable to non-controlling interest

3,023

756

6,672

1,859

Less: Income attributable to participating shares

2,407

2,444

7,231

6,717

Basic earnings

$

60,823

$

43,335

$

175,578

$

97,810

Diluted Earnings

Net income

$

66,253

$

46,535

$

189,481

$

106,386

Less: Income attributable to non-controlling interest

3,023

756

6,672

1,859

Less: Income attributable to participating shares

2,407

2,444

7,231

6,717

Add: Expenses attributable to dilutive instruments

2,319

—

6,957

—

Diluted earnings

$

63,142

$

43,335

$

182,535

$

97,810

Number of Shares

Basic — Average shares outstanding

114,371,160

71,618,168

105,576,826

66,606,749

Effect of dilutive securities — Unvested participating shares

11,295,449

169,060

11,288,944

162,169

Diluted — Average shares outstanding

125,666,609

71,787,228

116,865,770

66,768,918

EPS Attributable to RC Common Stockholders:

Basic

$

0.53

$

0.61

$

1.66

$

1.47

Diluted

$

0.50

$

0.60

$

1.56

$

1.46