Net Income (Loss) Per Share/Unit

9 Months Ended

Sep. 30, 2021

Net Income (Loss) Per Share

The following is a summary of the basic and diluted net income per share computation for the General Partner for the three and nine months ended September 30, 2021 and 2020 (dollar amounts in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net income	$	61,613	$	98,917	$	260,239	$	241,885
Net income attributable to non-controlling interests	(48)		(51)		(131)		(137)
Net income attributable to the General Partner	61,565		98,866		260,108		241,748
Dividends to preferred shares and units	(3,124)		(10,771)		(15,897)		(36,667)
Net income available to common stockholders used in basic net income per share	58,441		88,095		244,211		205,081
Income attributable to limited partners	58		65		172		166
Net income used in diluted net income per share	$	58,499	$	88,160	$	244,383	$	205,247

Weighted average number of Common Stock outstanding - basic	229,271,106		216,737,561		229,227,755		216,002,172
Effect of Limited Partner OP Units and dilutive securities	908,334		290,114		661,115		285,993
Weighted average number of common shares - diluted	230,179,440		217,027,675		229,888,870		216,288,165

Basic and diluted net income per share attributable to common stockholders	$	0.25	$	0.41	$	1.06	$	0.95

Net Income (Loss) Per Unit

The following is a summary of the basic and diluted net income per unit attributable to common unitholders, which includes all common General Partner unitholders and limited partner unitholders, for the three and nine months ended September 30, 2021 and 2020 (dollar amounts in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net income	$	61,613	$	98,917	$	260,239	$	241,885
Net loss attributable to non-controlling interests	10		14		41		29
Net income attributable to the Operating Partnership	61,623		98,931		260,280		241,914
Dividends to preferred shares and units	(3,124)		(10,771)		(15,897)		(36,667)
Net income used in basic and diluted net income per unit	$	58,499	$	88,160	$	244,383	$	205,247

Weighted average number of common units outstanding - basic	229,423,140		216,891,891		229,379,789		216,157,976
Effect of dilutive securities	756,300		135,784		509,081		130,189
Weighted average number of common units - diluted	230,179,440		217,027,675		229,888,870		216,288,165

Basic and diluted net income per unit attributable to common unitholders	$	0.25	$	0.41	$	1.06	$	0.95