Earnings Per Share

3 Months Ended

Mar. 31, 2023

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, 2023 and 2022:


	Three Months Ended March 31,
	2023		2022
BASIC


Net income attributable to common shareholders	$	9,522	$	8,989
Weighted-average number of common shares outstanding - basic	290,080,508		283,640,465

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

DILUTED
Net income attributable to common shareholders - basic	$	9,522	$	8,989


Impact of assumed conversions	3		—
Net income attributable to common shareholders	$	9,525	$	8,989

Weighted-average common shares outstanding - basic	290,080,508		283,640,465
Effect of dilutive securities:
Unvested share-based payment awards	127,871		1,078,891
Shares issuable under forward sales agreements	—		4,348,422


Operating partnership units	832,087		—

Weighted-average common shares outstanding - diluted	291,040,466		289,067,778


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

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.