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Earnings Per Share and Equity Transactions
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share and Equity Transactions Earnings Per Share and Equity Transactions
Basic earnings per share ("EPS") is computed by dividing net income or loss attributed to common shares by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from awards issued pursuant to the Incentive Award Plan.
The following table reconciles the amounts used in calculating basic and diluted earnings per share:
Three months ended September 30Nine months ended September 30
2022202120222021
Numerator:
Net income attributed to common shares$936 $3,992 $52,358 $5,391 
Earnings allocated to unvested restricted shares— — (63)— 
Net income attributed to common shares - basic and diluted936 3,992 52,295 5,391 
Denominator:
Weighted average common shares outstanding - basic67,427,571 71,261,403 67,398,713 71,731,832 
Dilutive effect of unvested restricted shares119,688 134,222 159,602 70,250 
Weighted average common shares outstanding - diluted67,547,259 71,395,625 67,558,315 71,802,082 
Basic and diluted earnings per common share:
Net income per common share - basic$0.01 $0.06 $0.78 $0.08 
Net income per common share - diluted$0.01 $0.06 $0.77 $0.08 
Share Repurchase Program
On February 23, 2022, the Company established a share repurchase program (the "SRP") of up to $150.0 million of the Company's outstanding shares of common stock. The SRP may be suspended or discontinued at any time, and does not obligate the Company to repurchase any dollar amount or particular amount of shares. As of September 30, 2022, the Company has not repurchased any common stock under the SRP.
ATM Program
On March 7, 2022, the Company established an at-the-market equity offering program (the "ATM Program") through which the Company may sell from time to time up to an aggregate of $250.0 million of its common stock. In connection with the ATM Program, the Company may sell shares of its common stock to or through sales agents, or may enter into separate forward sale agreements with one of the agents, or one of their respective affiliates, as a forward purchaser. As of September 30, 2022, the Company has not sold any common stock under the ATM Program.