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Earnings/Loss per Common Share | 3 Months Ended
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Mar. 31, 2024
Earnings Per Share [Abstract] |
Earnings/Loss per Common Share | Earnings/Loss per Common Share Basic and diluted (loss)/earnings per common share are calculated by dividing the net income or loss attributable to common stockholders by the basic and diluted weighted-average number of common shares outstanding in the period, respectively, using the allocation method prescribed by the two-class method. The Company applies this method to compute earnings per share because it distributes non-forfeitable dividend equivalents on restricted stock units and Operating Partnership units (“OP units”) granted to certain employees and non-employee directors who have the right to participate in the distribution of common dividends while the restricted stock units and OP units are unvested. A reconciliation of the basic and diluted weighted-average number of common shares outstanding for the three months ended March 31, 2024 and 2023 is as follows (in thousands):
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Weighted average common shares outstanding – basic | 284,644 |  |  | 270,230 |  |  |  |  |
Dilutive effect of stock-based awards | 234 |  |  | — |  |  |  |  |
Weighted average common shares outstanding – diluted | 284,878 |  |  | 270,230 |  |  |  |  |
For the three months ended March 31, 2024, potential common shares under the treasury stock method and the if-converted method were dilutive because the company reported a net profit for the period. The table below presents the number of antidilutive potential common shares that are not considered in the calculation of diluted loss per share (in thousands):
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Employee stock options | — |  |  | — |  |  |  |  |
Restricted stock units | 274 |  |  | 57 |  |  |  |  |
OP units | 87 |  |  | 51 |  |  |  |  |
| 361 |  |  | 108 |  |  |  |  |

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