Earnings Per Share

3 Months Ended

Mar. 31, 2021

A portion of the Company's non-vested share-based payment awards are considered participating securities and as such, the Company is required to use the two-class method for the computation of basic and diluted earnings per share. Under the two-class computation method, net losses are not allocated to participating securities unless the holder of the security has a contractual obligation to share in the losses. The non-vested share-based payment awards are not allocated losses as the awards do not have a contractual obligation to share in losses of the Company.

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the three months ended March 31, 2021 and 2020:


	Three Months Ended March 31,
	2021		2020
BASIC


Net income attributable to common shareholders	$	39,401	$	16,536
Weighted-average number of common shares outstanding - basic	275,416,327		253,038,161

Net income attributable to common shareholders - per common share basic	$	0.14	$	0.07

DILUTED
Net income attributable to common shareholders - basic	$	39,401	$	16,536
Impact of assumed conversions	240		107
Net income attributable to common shareholders	$	39,641	$	16,643

Weighted-average common shares outstanding - basic	275,416,327		253,038,161
Effect of dilutive securities:
Shares issuable under forward sales agreements	9,843		—
Unvested share-based payment awards and options	775,108		1,160,994


OP Units	2,852,419		3,148,122


Weighted-average common shares outstanding - diluted	279,053,697		257,347,277


Net income attributable to common shareholders - per common share diluted	$	0.14	$	0.06

For per common share amounts, all incremental shares are considered anti-dilutive for periods that have a loss from continuing operations attributable to common shareholders. In addition, other common share equivalents may be anti-dilutive in certain periods.