EPS (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Calculation of Basic and Diluted EPS

The table below presents the calculation of basic and diluted EPS:

	Year Ended December 31,
	2022		2021		2020
Numerator (In thousands):
Net income attributable to common stockholders	$	97,145	$	65,267	$	50,421
Allocation to participating securities: Unvested LTIP Units	(912)		(876)		(830)
Net income attributable to common stockholders - basic and diluted	$	96,233	$	64,391	$	49,591
Denominator (In thousands):
Weighted average shares of common stock outstanding - basic and diluted(1)	175,756		175,478		175,380
Net income per common share - basic and diluted	$	0.55	$	0.37	$	0.28

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(1)     Outstanding OP Units and vested LTIP Units are not included in the denominator in calculating diluted EPS, even though they may be exchanged under certain conditions for common stock on a one-for-one basis, because their associated net income (equal on a per unit basis to the Net income per common share - diluted) was already deducted in calculating Net income attributable to common stockholders. Accordingly, any exchange would not have any effect on diluted EPS. The table below presents the weighted average OP Units and vested LTIP Units outstanding for the respective periods:

	Year Ended December 31,
(In thousands)	2022	2021	2020
OP Units	29,756	28,643	28,288
Vested LTIP Units	1,120	1,439	815