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Earnings (Loss) per Share and Equity Transactions
 9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Earnings (Loss) per Share and Equity Transactions Earnings (Loss) per Share and Equity Transactions
The following table reconciles the amounts used in calculating basic and diluted income (loss) per share:
Three months ended
September 30,		Nine months ended
September 30,
2020201920202019
Numerator:
Net income (loss) from continuing operations$1,677 $24,926 $(11,420)$35,205 
Earnings allocated to unvested restricted shares— (50)— — 
Net income (loss) from continuing operations attributed to common shareholders$1,677 $24,876 $(11,420)$35,205 
Net loss from discontinued operations attributed to common shareholders$— $— $— $(25,500)
Denominator:
Weighted average number of common shares outstanding - basic718,934,723 728,722,763 720,198,772 728,645,975 
Effect of unvested restricted shares (a)633,616 733,959 — 575,251 
Weighted average number of common shares outstanding - diluted719,568,339 729,456,722 720,198,772 729,221,226 
Basic and diluted income (loss) per common share:
Net income (loss) from continuing operations per common share$— $0.03 $(0.02)$0.05 
Net loss from discontinued operations per common share— — — (0.03)
Net income (loss) per common share$— $0.03 $(0.02)$0.02 
(a)For the three and nine months ended September 30, 2020, the Company has excluded the anti-dilutive effect of unvested restricted shares.
On November 1, 2019, the Company adopted a Second Amended and Restated Share Repurchase Program ("SRP"), authorizing redemption of the Company's shares of common stock, subject to certain conditions and limitations, to provide limited liquidity to stockholders. The Company's obligation to repurchase any shares under the SRP was conditioned upon having sufficient funds available to complete the repurchase. The repurchase price per share for all stockholders is equal to a 25% discount to the most recent estimated Net Asset Value ('"NAV") per share of the Company's common stock established by the Company's Board of Directors (the "Board"), which was $3.14 per share as of May 1, 2019. During the nine months ended September 30, 2020, 2,136,119 shares were repurchased in connection with the SRP.
On November 1, 2019, the Company began offering shares of the Company's common stock to existing stockholders pursuant to the Company's Amended and Restated Distribution Reinvestment Plan ("DRP"). Under the DRP, stockholders may elect to reinvest an amount equal to the distributions declared on their shares of common stock into additional shares of the Company's common stock in lieu of receiving cash distributions. In accordance with the DRP, participants may acquire shares of common stock at a 25% discount to the most recent estimated NAV per share of the Company's common stock established by the Board, which was $3.14 per share as of May 1, 2019. During the nine months ended September 30, 2020, 79,040 shares, were issued pursuant to the DRP.
Effective July 11, 2020, the Company suspended the SRP and the DRP until further notice.