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Earnings (Loss) Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share Earnings (Loss) Per Share
The following is a reconciliation of basic and diluted earnings (loss) per common share (in thousands, except share and per-share data):
 For the three months ended September 30,For the nine months ended September 30,
 2024202320242023
Numerator:
Net income (loss) attributable to common shareholders$33,026 $(68,130)$14,349 $(68,308)
Less: Dividends paid on unvested share-based compensation(9)(10)(28)(31)
Less: Undistributed earnings attributable to share-based compensation(247)— (83)— 
Net income (loss) available to common shareholders — basic$32,770 $(68,140)$14,238 $(68,339)
Plus: Interest expense on convertible notes3,281 — — — 
Net income (loss) available to common shareholders — diluted$36,051 $(68,140)$14,238 $(68,339)
Denominator:
Weighted-average number of common shares — basic119,640,463 120,057,744 119,938,931 122,394,293 
Effect of dilutive share-based compensation270,228 — 428,420 — 
Effect of dilutive convertible notes29,441,175 — — — 
Weighted-average number of common shares — diluted149,351,866 120,057,744 120,367,351 122,394,293 
Net income (loss) per share available to common shareholders — basic$0.27 $(0.57)$0.12 $(0.56)
Net income (loss) per share available to common shareholders — diluted$0.24 $(0.57)$0.12 $(0.56)
For the three and nine months ended September 30, 2024, 467,452 and 157,010, respectively, unvested service condition restricted shares and performance-based equity awards were excluded from diluted weighted-average number of common shares, as their effect would have been anti-dilutive. For the three and nine months ended September 30, 2023, 1,110,184 unvested service condition restricted shares and performance-based equity awards were excluded from diluted weighted-average number of common shares, as their effect would have been anti-dilutive.
For the nine months ended September 30, 2024, 29,441,175 common shares underlying the Convertible Notes were excluded from diluted shares as their effect would have been anti-dilutive. For the three and nine months ended September 30, 2023, 29,441,175 common shares underlying the Convertible Notes were excluded from diluted shares as their effect would have been anti-dilutive.
The LTIP units and OP units held by the non-controlling interest holders have been excluded from the denominator of the diluted earnings per share as there would be no effect on the amounts since the limited partners' share of income (loss) would also be added or subtracted to derive net income (loss) available to common shareholders.