XML 38 R25.htm IDEA: XBRL DOCUMENT v3.24.3
NET INCOME (LOSS) PER SHARE (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30, 2024 and 2023.  
 (in thousands, except per share data)
 Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
NUMERATOR  
Net income (loss) attributable to controlling interests
$(1,048)$7,774 $(6,249)$49,482 
Dividends to preferred shareholders(1,607)(1,607)(4,821)(4,821)
Redemption of preferred shares(3,511)— (3,511)— 
Numerator for basic income (loss) per share – net income (loss) available to common shareholders
(6,166)6,167 (14,581)44,661 
Noncontrolling interests – Operating Partnership and Series E preferred units (1)
— 1,204 — 6,233 
Dividends to Series D preferred unitholders (2)
— — — 480 
Numerator for diluted income (loss) per share
$(6,166)$7,371 $(14,581)$51,374 
DENOMINATOR    
Denominator for basic income (loss) per share weighted average shares15,528 14,989 15,143 14,988 
Effect of redeemable operating partnership units— 908 — — 
Effect of Series D preferred units— — — 228 
Effect of Series E preferred units— 2,093 — 2,105 
Effect of dilutive restricted stock units and stock options— 28 — 23 
Denominator for diluted income (loss) per share15,528 18,018 15,143 17,344 
NET INCOME (LOSS) PER COMMON SHARE – BASIC
$(0.40)$0.41 $(0.96)$2.98 
NET INCOME (LOSS) PER COMMON SHARE – DILUTED
$(0.40)$0.41 $(0.96)$2.96 
(1)For the three and nine months ended September 30, 2024, 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 nine months ended September 30, 2024 and the three months ended September 30, 2023, dividends to preferred unitholders are excluded from the calculation of net income (loss) per common share - diluted as they were anti-dilutive.