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Earnings Per Share | 9 Months Ended
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Sep. 30, 2024
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 nine months ended September 30, 2024 and 2023:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
BASIC |  |  |  |  |  |  |
Net income attributable to common shareholders | $ | 4,689 |  |  | $ | 11,039 |  |  | $ | 6,533 |  |  | $ | 10,878 |
Weighted-average number of common shares outstanding - basic | 291,529,849 |  |  | 290,291,609 |  |  | 291,407,853 |  |  | 290,187,124 |
Net income attributable to common shareholders - per common share basic | $ | 0.02 |  |  | $ | 0.04 |  |  | $ | 0.02 |  |  | $ | 0.04 |
DILUTED |  |  |  |  |  |  |
Net income attributable to common shareholders - basic | $ | 4,689 |  |  | $ | 11,039 |  |  | $ | 6,533 |  |  | $ | 10,878 |
Impact of assumed conversions | — |  |  | 15 |  |  | — |  |  | (63) |
Net income attributable to common shareholders | $ | 4,689 |  |  | $ | 11,054 |  |  | $ | 6,533 |  |  | $ | 10,815 |
Weighted-average common shares outstanding - basic | 291,529,849 |  |  | 290,291,609 |  |  | 291,407,853 |  |  | 290,187,124 |
Effect of dilutive securities: |  |  |  |  |  |  |
Unvested share-based payment awards | 71,145 |  |  | 136,054 |  |  | 94,170 |  |  | 133,032 |
Operating partnership units | — |  |  | 825,342 |  |  | — |  |  | 828,653 |
Weighted-average common shares outstanding - diluted | 291,600,994 |  |  | 291,253,005 |  |  | 291,502,023 |  |  | 291,148,809 |
Net income attributable to common shareholders - per common share diluted | $ | 0.02 |  |  | $ | 0.04 |  |  | $ | 0.02 |  |  | $ | 0.04 |
For amounts per common share, 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 the inclusion of such shares would be anti-dilutive:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Preferred shares - Series C | 4,710,570 |  |  | 4,710,570 |  |  | 4,710,570 |  |  | 4,710,570 |

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