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Earnings Per Share
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share

The following table presents a reconciliation of income from operations used in the basic and diluted earnings per share ("EPS") calculations ($ in thousands, except for per share data):
 
For the Three Months Ended March 31,
 
2020
 
2019
Net loss
$
(12,885
)
 
$
(6,970
)
Net income attributable to noncontrolling interests
(2,691
)
 
(2,471
)
Preferred dividends
(5,874
)
 
(8,124
)
Net loss allocable to common shareholders for basic and diluted earnings per common share
$
(21,450
)
 
$
(17,565
)


 
For the Three Months Ended March 31,
 
2020
 
2019
Earnings allocable to common shares:
 
 
 
Numerator for basic and diluted earnings per share:
 
 
 
Net loss allocable to common shareholders
$
(21,450
)
 
$
(17,565
)
 
 
 
 
Denominator for basic and diluted earnings per share:
 
 
 
Weighted average common shares outstanding for basic and diluted earnings per common share
77,444

 
67,747

 
 
 
 
Basic and diluted earnings per common share:
 
 
 
Net loss allocable to common shareholders
$
(0.28
)
 
$
(0.26
)


For the three months ended March 31, 2019, the following shares were not included in the diluted EPS calculation because they were anti-dilutive (in thousands)(1):
Series J convertible perpetual preferred stock
15,951

_______________________________________________________________________________
(1)
For the three months ended March 31, 2019, the effect of certain of the Company's restricted stock awards were anti-dilutive. The Company will settle conversions of the 3.125% Convertible Notes (refer to Note 11) by paying the conversion value in cash up to the original principal amount of the notes being converted and shares of common stock to the extent of any conversion premium. The amount of cash and shares of common stock, if any, due upon conversion will be based on a daily conversion value calculated for each trading day in a 40 consecutive day observation period. Based upon the conversion price of the 3.125% Convertible Notes, no shares of common stock would have been issuable upon conversion of the 3.125% Convertible Notes for the three months ended March 31, 2020 and 2019 and therefore the 3.125% Convertible Notes had no effect on diluted EPS for such period.