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Earnings Per Share | 3 Months Ended
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Mar. 31, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | 9. Earnings Per Share 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 |
| Ended March 31, |
| 2023 |  |  | 2022 |
Numerators – Basic and Diluted |  |  |  |  |
Net income | $ | 15,302 |  |  | $ | 13,955 |
Income attributable to non-controlling interests |  | (18 | ) |  |  | (18 | )
Preferred dividends |  | (2,789 | ) |  |  | (2,789 | )
Earnings attributable to unvested shares and OP units |  | (107 | ) |  |  | (126 | )
Net income attributable to common shareholders after allocation to participating securities | $ | 12,388 |  |  | $ | 11,022 |
Denominators – Number of Shares |  |  |  |  |
Basic—Average shares outstanding |  | 209,971 |  |  |  | 212,103 |
Assumed conversion of dilutive securities: |  |  |  |  |
PRSUs |  | 436 |  |  |  | 1,100 |
Diluted—Average shares outstanding |  | 210,407 |  |  |  | 213,203 |
Earnings Per Share: |  |  |  |  |
Basic | $ | 0.06 |  |  | $ | 0.05 |
Diluted | $ | 0.06 |  |  | $ | 0.05 |
For the three months ended March 31, 2023, Performance Restricted Stock Units (“PRSUs”) issued to certain executives in March 2021 were considered in the computation of diluted EPS and the PRSUs issued in March 2023 and March 2022 were not considered in computing diluted EPS because they were antidilutive. For the three months ended March 31, 2022, PRSUs issued to certain executives in March 2022, 2021 and 2020 were considered in the computation of diluted EPS. In March 2023, the Company issued 559,559 common shares in settlement of PRSUs granted in 2020.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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