Earnings Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The components of the computation of basic and diluted EPS are as follows:


						Year Ended
(In thousands except share amounts)						December 31, 2020						December 31, 2019
Net income (loss) attributable to common stockholders						$	17,245					$	56,467
Add: Net income (loss) attributable to Convertible Non-controlling Interests(1)						(3)						1,305
Net income (loss) attributable to common stockholders and Convertible Non-controlling Interests						17,242						57,772
Dividends Paid:
Common stockholders						(55,211)						(58,499)
Convertible Non-controlling Interests						(812)						(1,325)
Total dividends paid to common stockholders and Convertible Non-controlling Interests						(56,023)						(59,824)
Undistributed (Distributed in excess of) earnings:
Common stockholders						(37,966)						(2,032)
Convertible Non-controlling Interests						(815)						(20)
Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests						$	(38,781)					$	(2,052)
Weighted average shares outstanding (basic and diluted):
Weighted average shares of common stock outstanding						43,486,336						32,067,768
Weighted average Convertible Non-controlling Interest Units outstanding						635,245						732,456
Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding						44,121,581						32,800,224
Basic earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed						$	1.26					$	1.81
Undistributed (Distributed in excess of)						(0.87)						(0.05)
						$	0.39					$	1.76
Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed						$	1.26					$	1.81
Undistributed (Distributed in excess of)						(0.87)						(0.05)
						$	0.39					$	1.76

(1)For the years ended December 31, 2020 and 2019, excludes net income (loss) of $3.4 million and $3.9 million, respectively, attributable to joint venture partners, which have non-participating interests as described in Note 15.

Earnings Per Share

The components of the computation of basic and diluted EPS were as follows:


						Year Ended December 31, 2018
(In thousands except share amounts)
Net increase (decrease) in shareholders' equity resulting from operations						$	46,676
Add: Net increase (decrease) in equity resulting from operations attributable to participating non-controlling interests(1)						319
Net increase (decrease) in equity resulting from operations related to common shares, LTIP Unit holders, and participating non-controlling interests						46,995
Net increase (decrease) in shareholders' equity resulting from operations available to common share and LTIP Unit holders:
Net increase (decrease) in shareholders' equity resulting from operations–common shares						45,922
Net increase (decrease) in shareholders' equity resulting from operations–LTIP Units						753
Dividends Paid:
Common shareholders						(49,576)
LTIP Unit holders						(812)
Non-controlling interests						(348)
Total dividends paid to common shareholders, LTIP Unit holders, and non-controlling interests						(50,736)
Undistributed (Distributed in excess of) earnings:
Common shareholders						(3,653)
LTIP Unit holders						(59)
Non-controlling interests						(29)
Total undistributed (distributed in excess of) earnings attributable to common shareholders, LTIP Unit holders, and non-controlling interests						$	(3,741)
Weighted average shares outstanding (basic and diluted):
Weighted average common shares outstanding						30,297,401
Weighted average participating LTIP Units						496,962
Weighted average non-controlling interest units						212,000
Basic earnings per common share:
Distributed						$	1.64
Undistributed (Distributed in excess of)						(0.12)
						$	1.52
Diluted earnings per common share:


Distributed						$	1.64
Undistributed (Distributed in excess of)						(0.12)
						$	1.52

(1)For the year ended December 31, 2018, excludes net increase (decrease) in equity resulting from operations of $2.9 million attributable to joint venture partners, which have non-participating interests as described in Note 11.