| Computation of basic and diluted income/(loss) per share |
The following table sets forth the computation of basic and diluted income/(loss) per share for the periods presented (dollars and shares in thousands, except per share data): | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | | June 30, | | June 30, | | | | 2024 | | 2023 | | 2024 | | 2023 | | Numerator for income/(loss) per share: | | | | | | | | | | | | | | Net income/(loss) | | $ | 31,013 | | $ | 370,183 | | $ | 77,323 | | $ | 403,108 | | Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | | | (2,013) | | | (22,630) | | | (5,162) | | | (24,583) | | Net (income)/loss attributable to noncontrolling interests | | | (117) | | | (8) | | | (129) | | | (16) | | Net income/(loss) attributable to UDR, Inc. | | | 28,883 | | | 347,545 | | | 72,032 | | | 378,509 | | Distributions to preferred stockholders — Series E (Convertible) | | | (1,210) | | | (1,222) | | | (2,441) | | | (2,405) | | Income/(loss) attributable to common stockholders - basic | | | 27,673 | | | 346,323 | | | 69,591 | | | 376,104 | | Dilutive distributions to preferred stockholders - Series E (Convertible) | | | — | | | 1,222 | | | — | | | 2,405 | | Income/(loss) attributable to common stockholders - diluted | | $ | 27,673 | | $ | 347,545 | | $ | 69,591 | | $ | 378,509 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Denominator for income/(loss) per share: | | | | | | | | | | | | | | Weighted average common shares outstanding | | | 329,428 | | | 329,324 | | | 329,336 | | | 329,242 | | Unvested restricted stock awards | | | (372) | | | (367) | | | (396) | | | (371) | | Denominator for basic income/(loss) per share | | | 329,056 | | | 328,957 | | | 328,940 | | | 328,871 | | Incremental shares issuable from assumed conversion of unvested LTIP Units, conversion of Series E preferred stock, performance units and unvested restricted stock | | | 516 | | | 3,523 | | | 394 | | | 3,541 | | Denominator for diluted income/(loss) per share | | | 329,572 | | | 332,480 | | | 329,334 | | | 332,412 | | | | | | | | | | | | | | | |
Income/(loss) per weighted average common share: | | | | | | | | | | | | | | Basic | | $ | 0.08 | | $ | 1.05 | | $ | 0.21 | | $ | 1.14 | | Diluted | | $ | 0.08 | | $ | 1.05 | | $ | 0.21 | | $ | 1.14 | |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The following table sets forth the additional shares of common stock outstanding, by equity instrument, if converted to common stock for each of the three and six months ended June 30, 2024 and 2023 (in thousands): | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | | June 30, | | June 30, | | | | 2024 | | 2023 | | 2024 | | 2023 | | OP/DownREIT Units | | 24,324 | | 21,250 | | 24,371 | | 21,286 | | Convertible preferred stock | | 2,851 | | 2,908 | | 2,879 | | 2,908 | | Unvested LTIP Units, performance units, and unvested restricted stock | | 516 | | 615 | | 394 | | 633 | |
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