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Income (Loss) Per Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Income (Loss) Per Share Income (Loss) Per Share
Basic income (loss) per common share is calculated using the two-class method by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted income (loss) per common share is calculated using the two-class method, or treasury stock method if more dilutive, and reflects the potential dilution that could occur if securities or other contracts to issue common shares were exercised or converted into common shares, whereby such exercise or conversion would result in lower income per share.
The following table reconciles the amounts used in calculating basic and diluted income (loss) per share (in thousands, except per-share amounts):
Year Ended December 31,
202420232022
Income (loss) allocated to common stockholders - basic and diluted:
Income (loss) attributable to the Company$(60,300)$(178,489)$(139,825)
Less: dividends on preferred stock(22,686)(15,921)(12,433)
Less: deemed dividends on redeemable preferred stock(2,906)(2,673)(946)
Add: gain (loss) on extinguishment of preferred stock
3,370 3,390 — 
Distributed and undistributed income (loss) allocated to common stockholders - basic and diluted
$(82,522)$(193,693)$(153,204)
Weighted average common shares outstanding:
Weighted average shares outstanding - basic and diluted
4,706 3,452 3,434 
Basic income (loss) per share:
Net income (loss) allocated to common stockholders per share$(17.54)$(56.11)$(44.61)
Diluted income (loss) per share:
Net income (loss) allocated to common stockholders per share$(17.54)$(56.11)$(44.61)
Due to their anti-dilutive effect, the computation of diluted income (loss) per share does not reflect adjustments for the following items (in thousands):
Year Ended December 31,
202420232022
Income (loss) allocated to common stockholders is not adjusted for:
Income (loss) attributable to redeemable noncontrolling interests in operating partnership$683 $(2,239)$(1,233)
Dividends on preferred stock - Series J (inclusive of deemed dividends)13,276 6,014 944 
Dividends on preferred stock - Series K (inclusive of deemed dividends)1,169 317 21 
Total$15,128 $4,092 $(268)
Weighted average diluted shares are not adjusted for:
Effect of unvested restricted stock7 — — 
Effect of assumed conversion of operating partnership units64 42 29 
Effect of assumed issuance of shares for term loan exit fee— 175 175 
Effect of assumed conversion of preferred stock - Series J15,713 1,693 3 
Effect of assumed conversion of preferred stock - Series K1,187 93 — 
Total16,971 2,003 207