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BENEFICIARIES' EQUITY OF THE PARENT COMPANY (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Schedule of Earnings Per Share, Basic and Diluted | The following table details the number of shares and net income used to calculate basic and diluted earnings per share (in thousands, except share and per share amounts; results may not add due to rounding):
| Three Months Ended June 30,
| 2024 |  | 2023
| Basic |  | Diluted |  | Basic |  | Diluted
Numerator |  |  |  |  |  |  |
Net income (loss) | $ | 30,267 |  |  | $ | 30,267 |  |  | $ | (12,737) |  |  | $ | (12,737) |
Net (income) loss attributable to noncontrolling interests | (94) |  |  | (94) |  |  | 41 |  |  | 41 |
Nonforfeitable dividends allocated to unvested restricted shareholders | (277) |  |  | (277) |  |  | (204) |  |  | (204) |
Net income (loss) attributable to common shareholders | $ | 29,896 |  |  | $ | 29,896 |  |  | $ | (12,900) |  |  | $ | (12,900) |
Denominator |  |  |  |  |  |  |
Weighted-average shares outstanding | 172,563,136 |  |  | 172,563,136 |  |  | 171,962,162 |  |  | 171,962,162 |
Contingent securities/Share based compensation | — |  |  | 2,132,515 |  |  | — |  |  | — |
Weighted-average shares outstanding | 172,563,136 |  |  | 174,695,651 |  |  | 171,962,162 |  |  | 171,962,162 |
Earnings (loss) per Common Share: |  |  |  |  |  |  |
Net income (loss) attributable to common shareholders | $ | 0.17 |  |  | $ | 0.17 |  |  | $ | (0.08) |  |  | $ | (0.08) |
| Six Months Ended June 30,
| 2024 |  | 2023
| Basic |  | Diluted |  | Basic |  | Diluted
Numerator |  |  |  |  |  |  |
Net income (loss) | $ | 13,853 |  |  | $ | 13,853 |  |  | $ | (18,013) |  |  | $ | (18,013) |
Net (income) loss attributable to noncontrolling interests | (48) |  |  | (48) |  |  | 58 |  |  | 58 |
Nonforfeitable dividends allocated to unvested restricted shareholders | (613) |  |  | (613) |  |  | (274) |  |  | (274) |
Net income (loss) attributable to common shareholders | $ | 13,192 |  |  | $ | 13,192 |  |  | $ | (18,229) |  |  | $ | (18,229) |
Denominator |  |  |  |  |  |  |
Weighted-average shares outstanding | 172,385,087 |  |  | 172,385,087 |  |  | 171,818,463 |  |  | 171,818,463 |
Contingent securities/Share based compensation | — |  |  | 1,957,064 |  |  | — |  |  | — |
Weighted-average shares outstanding | 172,385,087 |  |  | 174,342,151 |  |  | 171,818,463 |  |  | 171,818,463 |
Earnings (loss) per Common Share: |  |  |  |  |  |  |
Net income (loss) attributable to common shareholders | $ | 0.08 |  |  | $ | 0.08 |  |  | $ | (0.11) |  |  | $ | (0.11) |
The following table details the number of units and net income used to calculate basic and diluted earnings per common partnership unit (in thousands, except unit and per unit amounts; results may not add due to rounding):
| Three Months Ended June 30,
| 2024 |  | 2023
| Basic |  | Diluted |  | Basic |  | Diluted
Numerator |  |  |  |  |  |  |
Net income (loss) | $ | 30,267 |  |  | $ | 30,267 |  |  | $ | (12,737) |  |  | $ | (12,737) |
Net income attributable to noncontrolling interests | (3) |  |  | (3) |  |  | — |  |  | — |
Nonforfeitable dividends allocated to unvested restricted unitholders | (277) |  |  | (277) |  |  | (204) |  |  | (204) |
Net income (loss) attributable to common unitholders | $ | 29,987 |  |  | $ | 29,987 |  |  | $ | (12,941) |  |  | $ | (12,941) |
Denominator |  |  |  |  |  |  |
Total weighted-average units outstanding | 173,078,731 |  |  | 175,211,246 |  |  | 172,478,629 |  |  | 172,478,629 |
Earnings (loss) per Common Partnership Unit: |  |  |  |  |  |  |
Net income (loss) attributable to common unitholders | $ | 0.17 |  |  | $ | 0.17 |  |  | $ | (0.08) |  |  | $ | (0.08) |
| Six Months Ended June 30,
| 2024 |  | 2023
| Basic |  | Diluted |  | Basic |  | Diluted
Numerator |  |  |  |  |  |  |
Net income (loss) | $ | 13,853 |  |  | $ | 13,853 |  |  | $ | (18,013) |  |  | $ | (18,013) |
Net (income) loss attributable to noncontrolling interests | (6) |  |  | (6) |  |  | 1 |  |  | 1 |
Nonforfeitable dividends allocated to unvested restricted unitholders | (613) |  |  | (613) |  |  | (274) |  |  | (274) |
Net income (loss) attributable to common unitholders | $ | 13,234 |  |  | $ | 13,234 |  |  | $ | (18,286) |  |  | $ | (18,286) |
Denominator |  |  |  |  |  |  |
Weighted-average units outstanding | 172,900,681 |  |  | 172,900,681 |  |  | 172,334,930 |  |  | 172,334,930 |
Contingent securities/Share based compensation | — |  |  | 1,957,064 |  |  | — |  |  | — |
Total weighted-average units outstanding | 172,900,681 |  |  | 174,857,745 |  |  | 172,334,930 |  |  | 172,334,930 |
Earnings (loss) per Common Partnership Unit: |  |  |  |  |  |  |
Net income (loss) attributable to common unitholders | $ | 0.08 |  |  | $ | 0.08 |  |  | $ | (0.11) |  |  | $ | (0.11) |

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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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