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Earnings Per Share | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share 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 and six months ended June 30, 2023 and 2022:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
BASIC |  |  |  |  |  |  |
Net income (loss) attributable to common shareholders | $ | (9,683) |  |  | $ | 39,667 |  |  | $ | (161) |  |  | $ | 48,665 |
Weighted-average number of common shares outstanding - basic | 290,186,934 |  |  | 283,568,078 |  |  | 290,134,015 |  |  | 283,604,072 |
Net income (loss) attributable to common shareholders - per common share basic | $ | (0.03) |  |  | $ | 0.14 |  |  | $ | — |  |  | $ | 0.17 |
DILUTED |  |  |  |  |  |  |
Net income (loss) attributable to common shareholders - basic | $ | (9,683) |  |  | $ | 39,667 |  |  | $ | (161) |  |  | $ | 48,665 |
Impact of assumed conversions | (81) |  |  | 47 |  |  | (77) |  |  | 136 |
Net income (loss) attributable to common shareholders | $ | (9,764) |  |  | $ | 39,714 |  |  | $ | (238) |  |  | $ | 48,801 |
Weighted-average common shares outstanding - basic | 290,186,934 |  |  | 283,568,078 |  |  | 290,134,015 |  |  | 283,604,072 |
Effect of dilutive securities: |  |  |  |  |  |  |
Unvested share-based payment awards | — |  |  | 257,371 |  |  | — |  |  | 668,130 |
Shares issuable under forward sales agreements | — |  |  | 750,944 |  |  | — |  |  | 2,549,683 |
Operating partnership units | 828,603 |  |  | 860,048 |  |  | 830,335 |  |  | 865,512 |
Weighted-average common shares outstanding - diluted | 291,015,537 |  |  | 285,436,441 |  |  | 290,964,350 |  |  | 287,687,397 |
Net income (loss) attributable to common shareholders - per common share diluted | $ | (0.03) |  |  | $ | 0.14 |  |  | $ | — |  |  | $ | 0.17 |
For per common share amounts, generally 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. Calculation of dilutive earnings requires certain potentially dilutive shares to be excluded when the inclusion of such shares would be anti-dilutive. The following table summarizes the potentially dilutive shares excluded from the dilutive earnings per share calculation as inclusion of such shares would be anti-dilutive:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Unvested share-based payment awards | 135,172 |  |  | 10,140 |  |  | 131,522 |  |  | 34,762 |
Preferred shares - Series C | 4,710,570 |  |  | 4,710,570 |  |  | 4,710,570 |  |  | 4,710,570 |

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