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Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Reconciliation of Net Income (Loss) and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS

The following table provides a reconciliation of net income and the number of common shares used in the computations of “basic” earnings per share (“EPS”), which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts):

 

Three Months

 

 

Nine Months

 

 

Ended September 30,

 

 

Ended September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerators  Basic and Diluted

 

 

 

 

 

 

 

 

 

 

 

Net income

$

322,953

 

 

$

48,642

 

 

$

537,646

 

 

$

69,297

 

Income attributable to non-controlling interests

 

 

 

 

 

 

 

 

 

 

(18

)

Preferred dividends

 

(2,789

)

 

 

(2,789

)

 

 

(8,367

)

 

$

(8,367

)

Earnings attributable to unvested shares and OP Units

 

(1,171

)

 

 

(100

)

 

 

(2,005

)

 

$

(295

)

Net income attributable to common shareholders after
   allocation to participating securities

$

318,993

 

 

$

45,753

 

 

$

527,274

 

 

$

60,617

 

Denominators  Number of Shares

 

 

 

 

 

 

 

 

 

 

 

BasicAverage shares outstanding

 

52,400

 

 

 

52,322

 

 

 

52,381

 

 

 

52,376

 

Assumed conversion of dilutive securities—PRSUs

 

153

 

 

 

28

 

 

 

177

 

 

 

60

 

DilutedAverage shares outstanding

 

52,553

 

 

 

52,350

 

 

 

52,558

 

 

 

52,436

 

Earnings Per Share:

 

 

 

 

 

 

 

 

 

 

 

Basic

$

6.09

 

 

$

0.87

 

 

$

10.07

 

 

$

1.16

 

Diluted

$

6.07

 

 

$

0.87

 

 

$

10.03

 

 

$

1.16