Equity (Tables)

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

Dividends declared (on a per share basis) during the six months ended June 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
			June 30, 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 June 30,
	2023				2022
	Basic		Diluted		Basic		Diluted
Net income attributable to common stockholders (1)	$	76,164	$	76,164	$	69,909	$	69,909
Net income attributable to noncontrolling interest (2)	—		6,826		—		6,992
Interest expense on convertible notes	—		6,081		—		3,995
Net income attributable to common stockholders and noncontrolling interest	$	76,164	$	89,071	$	69,909	$	80,896
Weighted average shares outstanding	181,815,469		181,815,469		163,044,217		163,044,217
Dilutive effect of OP Units (2)	—		16,293,589		—		16,306,745
Dilutive effect of convertible notes	—		17,270,615		—		15,140,481
Dilutive effect of restricted stock units (3)	—		682,203		—		522,367
Weighted average shares outstanding	181,815,469		216,061,876		163,044,217		195,013,810
Net income per common share (1)	$	0.42	$	0.41	$	0.43	$	0.41

	Six Months Ended June 30,
	2023				2022
Net income attributable to common stockholders (1)	$	160,483	$	160,483	$	133,968	$	133,968
Net income attributable to noncontrolling interest (2)	—		14,411		—		13,808
Interest expense on convertible notes	—		12,163		—		7,989
Net income attributable to common stockholders and noncontrolling interest	$	160,483	$	187,057	$	133,968	$	155,765
Weighted average shares outstanding	181,468,002		181,468,002		158,258,813		158,258,813
Dilutive effect of OP Units (2)	—		16,293,589		—		16,315,869
Dilutive effect of convertible notes	—		17,250,598		—		15,126,859
Dilutive effect of restricted stock units (3)	—		477,415		—		655,489
Weighted average shares outstanding	181,468,002		215,489,604		158,258,813		190,357,030
Net income per common share (1)	$	0.88	$	0.87	$	0.85	$	0.82

________________________

(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.