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EPS | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
EPS | EPS We calculate basic EPS by dividing the net (loss) income attributable to common stockholders for the period by the weighted average number of common shares outstanding during the period. We calculate diluted EPS by dividing the net (loss) income attributable to common stockholders for the period by the weighted average number of common shares and dilutive instruments outstanding during the period using the treasury stock method. We account for unvested LTIP awards that contain non-forfeitable rights to dividends as participating securities and include these securities in the computation of basic and diluted EPS using the two-class method. The table below presents the calculation of basic and diluted EPS:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Numerator (In thousands): |  |  |  |  |  |  |
Net (loss) income attributable to common stockholders | $ | (10,854) |  |  | $ | 4,618 |  |  | $ | 23,111 |  |  | $ | 24,405 |
Allocation to participating securities: Unvested LTIP Units | (335) |  |  | (334) |  |  | (1,019) |  |  | (1,026) |
Net (loss) income attributable to common stockholders - basic and diluted | $ | (11,189) |  |  | $ | 4,284 |  |  | $ | 22,092 |  |  | $ | 23,379 |
Denominator (In thousands): |  |  |  |  |  |  |
Weighted average shares of common stock outstanding - basic and diluted(1) | 167,446 |  |  | 167,411 |  |  | 167,445 |  |  | 167,374 |
Net (loss) income per common share - basic and diluted | $ | (0.07) |  |  | $ | 0.03 |  |  | $ | 0.13 |  |  | $ | 0.14 |
____________________________________________________ (1) Outstanding OP Units and vested LTIP Units are not included in the denominator in calculating diluted EPS, even though they may be exchanged under certain conditions for common stock on a one-for-one basis, because their associated net income or loss (equal on a per unit basis to the Net income or loss per common share - diluted) was already deducted in calculating Net (loss) income attributable to common stockholders. Accordingly, any exchange would not have any effect on diluted EPS. The table below presents the weighted average OP Units and vested LTIP Units outstanding for the respective periods:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
OP Units | 32,798 |  |  | 31,168 |  |  | 32,807 |  |  | 30,990 |
Vested LTIP Units | 2,738 |  |  | 2,509 |  |  | 2,716 |  |  | 2,695 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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