Earnings Per Share

3 Months Ended

Mar. 31, 2022

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, 2022 and 2021:


	Three Months Ended March 31,
	2022		2021
BASIC


Net income attributable to common shareholders	$	8,989	$	39,401
Weighted-average number of common shares outstanding - basic	283,640,465		275,416,327

Net income attributable to common shareholders - per common share basic	$	0.03	$	0.14

DILUTED
Net income attributable to common shareholders - basic	$	8,989	$	39,401


Impact of assumed conversions	—		240
Net income attributable to common shareholders	$	8,989	$	39,641

Weighted-average common shares outstanding - basic	283,640,465		275,416,327
Effect of dilutive securities:
Shares issuable under forward sales agreements	4,348,422		9,843
Unvested share-based payment awards	1,078,891		775,108


Operating partnership units	—		2,852,419

Weighted-average common shares outstanding - diluted	289,067,778		279,053,697


Net income attributable to common shareholders - per common share diluted	$	0.03	$	0.14

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.