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Net Income (Loss) per Share (Tables)
3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Basic and Diluted Net Income per Share of Common Stock Using Two-Class Method

The table below presents the computation of basic and diluted net income (loss) per share of common stock for the three months ended March 31, 2025 and 2024 ($ in thousands except per share data):

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Net income (loss)

 

$

25,991

 

 

$

(104,524

)

Less: Preferred dividends

 

 

(3,068

)

 

 

(3,068

)

Less: Earnings attributable to participating securities

 

 

 

 

 

 

Less: Dividends on participating securities

 

 

(561

)

 

 

(886

)

Net income (loss) attributable to common stockholders, basic and diluted

 

$

22,362

 

 

$

(108,478

)

 

 

 

 

 

 

 

Number of Shares:

 

 

 

 

 

 

Basic weighted-average shares of common stock outstanding

 

 

138,639,004

 

 

 

141,869,604

 

Diluted weighted-average shares of common stock outstanding

 

 

138,991,818

 

 

 

141,869,604

 

 

 

 

 

 

 

 

Earnings (Loss) Per Share Attributable to Common Stockholders

 

 

 

 

 

 

Basic

 

$

0.16

 

 

$

(0.76

)

Diluted

 

$

0.16

 

 

$

(0.76

)