Earnings Per Share |
The following table sets forth the computation of basic and diluted earnings per share of the Company:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2021 | | 2020 | | 2021 | | 2020 | Earnings per Common Share - basic: | | | | | | | | Numerator: | | | | | | | | Net income | $ | 75,587 | | | $ | 42,331 | | | $ | 194,286 | | | $ | 272,627 | | Net (income) attributable to noncontrolling interests in the Operating Partnership | (1,967) | | | (1,107) | | | (5,084) | | | (7,084) | | Net (income) attributable to noncontrolling interests in consolidated affiliates | (894) | | | (298) | | | (1,469) | | | (872) | | Dividends on Preferred Stock | (621) | | | (622) | | | (1,864) | | | (1,866) | | Net income available for common stockholders | $ | 72,105 | | | $ | 40,304 | | | $ | 185,869 | | | $ | 262,805 | | Denominator: | | | | | | | | Denominator for basic earnings per Common Share – weighted average shares (1) | 104,277 | | | 103,896 | | | 104,117 | | | 103,865 | | Net income available for common stockholders | $ | 0.69 | | | $ | 0.39 | | | $ | 1.79 | | | $ | 2.53 | | Earnings per Common Share - diluted: | | | | | | | | Numerator: | | | | | | | | Net income | $ | 75,587 | | | $ | 42,331 | | | $ | 194,286 | | | $ | 272,627 | | Net (income) attributable to noncontrolling interests in consolidated affiliates | (894) | | | (298) | | | (1,469) | | | (872) | | Dividends on Preferred Stock | (621) | | | (622) | | | (1,864) | | | (1,866) | | Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership | $ | 74,072 | | | $ | 41,411 | | | $ | 190,953 | | | $ | 269,889 | | Denominator: | | | | | | | | Denominator for basic earnings per Common Share – weighted average shares (1) | 104,277 | | | 103,896 | | | 104,117 | | | 103,865 | | Add: | | | | | | | | Stock options using the treasury method | 25 | | | 2 | | | 17 | | | 10 | | Noncontrolling interests Common Units | 2,837 | | | 2,842 | | | 2,838 | | | 2,827 | | Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions | 107,139 | | | 106,740 | | | 106,972 | | | 106,702 | | Net income available for common stockholders | $ | 0.69 | | | $ | 0.39 | | | $ | 1.79 | | | $ | 2.53 | |
__________ (1)Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.
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Earnings Per Unit |
The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2021 | | 2020 | | 2021 | | 2020 | Earnings per Common Unit - basic: | | | | | | | | Numerator: | | | | | | | | Net income | $ | 75,587 | | | $ | 42,331 | | | $ | 194,286 | | | $ | 272,627 | | Net (income) attributable to noncontrolling interests in consolidated affiliates | (894) | | | (298) | | | (1,469) | | | (872) | | Distributions on Preferred Units | (621) | | | (622) | | | (1,864) | | | (1,866) | | | | | | | | | | | | | | | | | | | | | | | | | | Net income available for common unitholders | $ | 74,072 | | | $ | 41,411 | | | $ | 190,953 | | | $ | 269,889 | | Denominator: | | | | | | | | Denominator for basic earnings per Common Unit – weighted average units (1) | 106,705 | | | 106,329 | | | 106,546 | | | 106,283 | | | | | | | | | | | | | | | | | | | | | | | | | | Net income available for common unitholders | $ | 0.69 | | | $ | 0.39 | | | $ | 1.79 | | | $ | 2.54 | | Earnings per Common Unit - diluted: | | | | | | | | Numerator: | | | | | | | | Net income | $ | 75,587 | | | $ | 42,331 | | | $ | 194,286 | | | $ | 272,627 | | Net (income) attributable to noncontrolling interests in consolidated affiliates | (894) | | | (298) | | | (1,469) | | | (872) | | Distributions on Preferred Units | (621) | | | (622) | | | (1,864) | | | (1,866) | | | | | | | | | | | | | | | | | | | | | | | | | | Net income available for common unitholders | $ | 74,072 | | | $ | 41,411 | | | $ | 190,953 | | | $ | 269,889 | | Denominator: | | | | | | | | Denominator for basic earnings per Common Unit – weighted average units (1) | 106,705 | | | 106,329 | | | 106,546 | | | 106,283 | | Add: | | | | | | | | Stock options using the treasury method | 25 | | | 2 | | | 17 | | | 10 | | Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions | 106,730 | | | 106,331 | | | 106,563 | | | 106,293 | | | | | | | | | | | | | | | | | | | | | | | | | | Net income available for common unitholders | $ | 0.69 | | | $ | 0.39 | | | $ | 1.79 | | | $ | 2.54 | |
__________ (1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.
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