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NET INCOME (LOSS) PER SHARE (Tables) | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Schedule of Reconciliation of Numerator and Denominator Used to Calculate Basic and Diluted Net Income (Loss) per Share | The following table presents a reconciliation of the numerator and denominator used to calculate basic and diluted net income (loss) per share reported in the Condensed Consolidated Financial Statements for the three and six months ended June 30, 2024 and 2023.
| (in thousands, except per share data)
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
NUMERATOR |  |  |  |  |  |  |
Net income (loss) attributable to controlling interests | $ | (1,296) |  |  | $ | (1,863) |  |  | $ | (5,201) |  |  | $ | 41,708 |
Dividends to preferred shareholders | (1,607) |  |  | (1,607) |  |  | (3,214) |  |  | (3,214) |
Numerator for basic income (loss) per share – net income (loss) available to common shareholders | (2,903) |  |  | (3,470) |  |  | (8,415) |  |  | 38,494 |
Noncontrolling interests – Operating Partnership and Series E preferred units (1) | — |  |  | — |  |  | — |  |  | 7,854 |
Dividends to Series D preferred unitholders (2) | — |  |  | — |  |  | — |  |  | 320 |
Numerator for diluted income (loss) per share | $ | (2,903) |  |  | $ | (3,470) |  |  | $ | (8,415) |  |  | $ | 46,668 |
DENOMINATOR |  |  |  |  |  |  |
Denominator for basic income (loss) per share weighted average shares | 14,972 |  |  | 14,949 |  |  | 14,947 |  |  | 14,987 |
Effect of redeemable operating partnership units | — |  |  | — |  |  | — |  |  | 967 |
Effect of Series D preferred units | — |  |  | — |  |  | — |  |  | 228 |
Effect of Series E preferred units | — |  |  | — |  |  | — |  |  | 2,111 |
Effect of dilutive restricted stock units and stock options | — |  |  | — |  |  | — |  |  | 20 |
Denominator for diluted income (loss) per share | 14,972 |  |  | 14,949 |  |  | 14,947 |  |  | 18,313 |
NET INCOME (LOSS) PER COMMON SHARE – BASIC | $ | (0.19) |  |  | $ | (0.23) |  |  | $ | (0.56) |  |  | $ | 2.57 |
NET INCOME (LOSS) PER COMMON SHARE – DILUTED | $ | (0.19) |  |  | $ | (0.23) |  |  | $ | (0.56) |  |  | $ | 2.55 |
(1)For the three and six months ended June 30, 2024 and the three months ended June 30, 2023, the impact of Units and Series E preferred units was excluded from the calculation of net income (loss) per common share - diluted as they were anti-dilutive. (2)For the three and six months ended June 30, 2024 and the three months ended June 30, 2023, dividends to preferred unitholders are excluded from the calculation of net income (loss) per common share - diluted as they were anti-dilutive.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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