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Income (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Summary of Amounts Used in Calculating Basic and Diluted Earnings (Loss) Per Share

The following table reconciles the amounts used in calculating basic and diluted income (loss) per share (in thousands, except per-share amounts):

			Three Months Ended June 30,												Six Months Ended June 30,
			2022						2021						2022						2021
Income (loss) allocated to common stockholders - basic and diluted:
Income (loss) attributable to the Company			$	(6,170)					$	(64,292)					$	(61,600)					$	(167,330)
Less: Dividends on preferred stock			(3,104)						—						(6,207)						—
Add: Dividend reversal on preferred stock, net (1)			—						2,709						—						3,527
Add: Gain (loss) on extinguishment of preferred stock			—						(7,887)						—						2,748
Add: Claw back of dividends on cancelled performance stock units			—						—						—						178
Distributed and undistributed income (loss) allocated to common stockholders - basic and diluted			$	(9,274)					$	(69,470)					$	(67,807)					$	(160,877)
Weighted average common shares outstanding:
Weighted average shares outstanding - basic and diluted			34,330						15,957						34,300						12,178
Basic income (loss) per share:
Net income (loss) allocated to common stockholders per share			$	(0.27)					$	(4.35)					$	(1.98)					$	(13.21)
Diluted income (loss) per share:
Net income (loss) allocated to common stockholders per share			$	(0.27)					$	(4.35)					$	(1.98)					$	(13.21)

Summary of Computation of Diluted Income Per Share

Due to their anti-dilutive effect, the computation of diluted income (loss) per share does not reflect adjustments for the following items (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
			2022						2021						2022						2021
Income (loss) allocated to common stockholders is not adjusted for:
Income (loss) attributable to redeemable noncontrolling interests in operating partnership			$	(76)					$	(956)		(1)			$	(448)					$	(3,227)		(1)
Total			$	(76)					$	(956)					$	(448)					$	(3,227)
Weighted average diluted shares are not adjusted for:
Effect of unvested restricted stock			—						77						—						39
Effect of unvested performance stock units			—						37						—						18
Effect of assumed conversion of operating partnership units			281						243						258						222
Effect of assumed issuance of shares for term loan exit fee			1,745						1,745						1,745						1,599
Total			2,026						2,102						2,003						1,878

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(1)Inclusive of preferred stock dividend of $36 and $56 for the three and six months ended June 30, 2021 allocated to redeemable noncontrolling interests in operating partnership.

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- References

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

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- Definition

Tabular disclosure of the effect of income (loss) on an entity's diluted earnings per share.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1278-109256

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

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