Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2023

The following is a reconciliation of the calculation of basic and diluted EPS (in thousands, except share and per-share data):


	Years Ended December 31,
	2023		2022		2021
Numerator:
Net income (loss) attributable to common stockholders	$	76,523	$	99,511	$	(204,401)


Denominator:
Weighted-average number of common shares outstanding—basic	211,518,826		212,423,873		212,056,923
Effect of dilutive securities:
Unvested restricted common stock	340,981		323,435		—
Shares related to unvested PSUs	444,310		441,679		—

Weighted-average number of common shares outstanding—diluted	212,304,117		213,188,987		212,056,923
Earnings (loss) per share:
Earnings (loss) per share available to common stockholders—basic	$	0.36	$	0.47	$	(0.96)
Earnings (loss) per share available to common stockholders—diluted	$	0.36	$	0.47	$	(0.96)

For the year ended December 31, 2021, 379,767 of unvested restricted common shares and 299,810 of unvested PSU's were excluded from diluted weighted-average common shares outstanding, as their effect would be anti-dilutive. There were no unvested restricted common shares or PSUs excluded from the diluted weighted-average common shares outstanding for the year ended December 31, 2023 and 2022.

The common OP units held by the noncontrolling interest holders have been excluded from the denominator of the diluted EPS calculation as there would be no effect on the amounts since the common OP units' share of income or loss would also be added or subtracted to derive net income (loss) available to common stockholders.