Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2021

Reconciliation of Net Income and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS

The following table provides a reconciliation of net income and the number of common shares used in the computations of “basic” earnings per share (“EPS”), which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts).

	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2021			2020			2021			2020
Numerators – Basic and Diluted
Net income	$	28,157		$	7,403		$	66,325		$	37,628
Income attributable to non-controlling interests		(93	)		(116	)		(384	)		(621	)
Write-off of preferred share original issuance costs		—			—			(5,156	)		—
Preferred dividends		(2,789	)		(5,133	)		(10,867	)		(15,399	)
Earnings attributable to unvested shares and OP units		(150	)		—			(450	)		(149	)
Net income attributable to common shareholders after allocation to participating securities	$	25,125		$	2,154		$	49,468		$	21,459
Denominators – Number of Shares
Basic—Average shares outstanding		211,048			193,203			206,918			193,366
Assumed conversion of dilutive securities:
PRSUs		1,114			162			1,146			—
Forward equity		29			—			10			—
Diluted—Average shares outstanding		212,191			193,365			208,074			193,366
Earnings Per Share:
Basic	$	0.12		$	0.01		$	0.24		$	0.11
Diluted	$	0.12		$	0.01		$	0.24		$	0.11