Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

	Year Ended December 31,
	2023		2022		2021
Numerator for basic earnings per share - net income attributable to common stockholders	$	340,094	$	141,214	$	336,138
Adjustment for net income (loss) attributable to OP Units and DownREIT Units	(303)		165		(3,020)
Numerator for diluted earnings per share	$	339,791	$	141,379	$	333,118
Denominator for basic earnings per share - weighted average shares	515,629		462,185		424,976
Effect of dilutive securities:
Employee stock options	32		20		—
Non-vested restricted shares and units	1,031		1,058		447
OP Units and DownREIT Units	1,983		1,865		1,396
Employee stock purchase program	26		30		22
Dilutive potential common shares	3,072		2,973		1,865
Denominator for diluted earnings per share - adjusted weighted average shares	518,701		465,158		426,841
Basic earnings per share	$	0.66	$	0.31	$	0.79
Diluted earnings per share	$	0.66	$	0.30	$	0.78