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Earnings (Loss) Per Share of Common Stock | 3 Months Ended
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Mar. 31, 2022
Earnings Per Share [Abstract] |
Earnings (Loss) Per Share of Common Stock | Earnings (Loss) Per Share of Common Stock The following tables set forth the computation of basic and diluted earnings (loss) per share of common stock for the three months ended March 31, 2022 and 2021. The operating partnership units in the Operating Partnership (“OP Units”) held by holders who do not control the Operating Partnership (“Non-controlling OP Unitholders”) (which may be redeemed for shares of common stock) have been excluded from the diluted earnings (loss) per share calculations, as there would be no effect on the amounts since the Non-controlling OP Unitholders’ share of earnings (loss) would also be added back to net income (loss). Net income (loss) figures are presented net of such non-controlling interests in the earnings (loss) per share calculation. We computed basic earnings (loss) per share for the three months ended March 31, 2022 and 2021 using the weighted average number of shares outstanding during the respective periods. Diluted earnings (loss) per share for the three months ended March 31, 2022 and 2021 reflects additional shares of common stock related to our convertible senior common stock (the “Senior Common Stock”), if the effect of conversion would be dilutive, that would have been outstanding if such dilutive potential shares of common stock had been issued, as well as an adjustment to net income (loss) attributable to common stockholders as applicable to common stockholders that would result from their assumed issuance (dollars in thousands, except per share amounts).
|  | For the three months ended March 31, |  |
|  | 2022 |  | 2021 |  |  |  |
Calculation of basic earnings (loss) per share of common stock: |  |  |  |  |  |  |  |
Net income (loss) available (attributable) to common stockholders |  | $ | 322 |  |  | $ | (2,955) |  |  |  |  |
Denominator for basic weighted average shares of common stock (1) |  | 37,902,653 |  |  | 35,714,107 |  |  |  |  |
Basic earnings (loss) per share of common stock |  | $ | 0.01 |  |  | $ | (0.08) |  |  |  |  |
Calculation of diluted earnings (loss) per share of common stock: |  |  |  |  |  |  |  |
Net income (loss) available (attributable) to common stockholders |  | $ | 322 |  |  | $ | (2,955) |  |  |  |  |
Net income (loss) available (attributable) to common stockholders plus assumed conversions (2) |  | $ | 322 |  |  | $ | (2,955) |  |  |  |  |
Denominator for basic weighted average shares of common stock (1) |  | 37,902,653 |  |  | 35,714,107 |  |  |  |  |
Effect of convertible Senior Common Stock (2) |  | — |  |  | — |  |  |  |  |
Denominator for diluted weighted average shares of common stock (2) |  | 37,902,653 |  |  | 35,714,107 |  |  |  |  |
Diluted earnings (loss) per share of common stock |  | $ | 0.01 |  |  | $ | (0.08) |  |  |  |  |
(1)The weighted average number of OP Units held by Non-controlling OP Unitholders was 256,994 and 500,299 for the three months ended March 31, 2022 and 2021, respectively. (2)We excluded convertible shares of Senior Common Stock of 374,123 and 592,156 from the calculation of diluted earnings (loss) per share for the three months ended March 31, 2022 and 2021, respectively, because they were anti-dilutive.

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