Earnings Per Share and Earnings Per Unit (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Calculation of Numerator and Denominator in Earnings Per Share and Earnings Per Unit

The following tables set forth the computation of net income per share – basic and net income per share – diluted for the Company (amounts in thousands except per share amounts):

	Quarter Ended March 31,
	2024			2023
Numerator for net income per share – basic:
Net income	$	305,032		$	220,071
Allocation to Noncontrolling Interests – Operating Partnership		(8,275	)		(7,059	)
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(970	)		(977	)
Preferred distributions		(547	)		(772	)
Premium on redemption of Preferred Shares		(1,444	)		—
Numerator for net income per share – basic	$	293,796		$	211,263
Numerator for net income per share – diluted:
Net income	$	305,032		$	220,071
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(970	)		(977	)
Preferred distributions		(547	)		(772	)
Premium on redemption of Preferred Shares		(1,444	)		—
Numerator for net income per share – diluted	$	302,071		$	218,322
Denominator for net income per share – basic and diluted:
Denominator for net income per share – basic		378,812			378,341
Effect of dilutive securities:
OP Units		10,669			11,510
Long-term compensation shares/units		1,080			813
Denominator for net income per share – diluted		390,561			390,664
Net income per share – basic	$	0.78		$	0.56
Net income per share – diluted	$	0.77		$	0.56

ERPOP [Member]

Schedule of Calculation of Numerator and Denominator in Earnings Per Share and Earnings Per Unit

The following tables set forth the computation of net income per Unit – basic and net income per Unit – diluted for the Operating Partnership (amounts in thousands except per Unit amounts):

	Quarter Ended March 31,
	2024			2023
Numerator for net income per Unit – basic and diluted:
Net income	$	305,032		$	220,071
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(970	)		(977	)
Allocation to Preference Units		(547	)		(772	)
Allocation to premium on redemption of Preference Units		(1,444	)		—
Numerator for net income per Unit – basic and diluted	$	302,071		$	218,322
Denominator for net income per Unit – basic and diluted:
Denominator for net income per Unit – basic		389,481			389,851
Effect of dilutive securities:
Dilution for Units issuable upon assumed exercise/vesting    of the Company’s long-term compensation shares/units		1,080			813
Denominator for net income per Unit – diluted		390,561			390,664
Net income per Unit – basic	$	0.78		$	0.56
Net income per Unit – diluted	$	0.77		$	0.56