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Income (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Summary of Amounts Used in Calculating Basic and Diluted Earnings (Loss) Per Share

The following table reconciles the amounts used in calculating basic and diluted income (loss) per share (in thousands, except per share amounts):

	Three Months Ended March 31,
	2020				2019
Net income (loss) attributable to common stockholders - basic and diluted:
Net income (loss) attributable to the Company	$	(12,930	)		$	(981	)
Less: Dividends on preferred stock	(2,555		)		(2,532		)
Less: Dividends on common stock	—				(5,158		)
Less: Dividends on unvested performance stock units	—				(75		)
Less: Dividends on unvested restricted shares	—				(96		)
Undistributed net income (loss) allocated to common stockholders	(15,485		)		(8,842		)
Add back: Dividends on common stock	—				5,158
Distributed and undistributed net income (loss) - basic and diluted	$	(15,485	)		$	(3,684	)
Weighted average common shares outstanding:
Weighted average common shares outstanding – basic and diluted	32,474				32,115
Income (loss) per share - basic:
Net income (loss) allocated to common stockholders per share	$	(0.48	)		$	(0.11	)
Income (loss) per share - diluted:
Net income (loss) allocated to common stockholders per share	$	(0.48	)		$	(0.11	)

Summary of Computation of Diluted Income Per Share

Due to their anti-dilutive effect, the computation of diluted income (loss) per share does not reflect the adjustments for the following items (in thousands):

	Three Months Ended March 31,
	2020				2019
Net income (loss) allocated to common stockholders is not adjusted for:
Income (loss) allocated to unvested restricted shares	$	—			$	96
Income (loss) allocated to unvested performance stock units	—				75
Income (loss) attributable to redeemable noncontrolling interests in operating partnership	(1,885		)		(440		)
Dividends on preferred stock - Series B	1,730				1,707
Total	$	(155	)		$	1,438
Weighted average diluted shares are not adjusted for:
Effect of unvested restricted shares	76				87
Effect of unvested performance stock units	—				288
Effect of assumed conversion of operating partnership units	4,112				4,342
Effect of assumed conversion of preferred stock - Series B	6,728				6,569
Effect of advisory services incentive fee shares	361				73
Total	11,277				11,359

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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.

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Tabular disclosure of the effect of income (loss) on an entity's diluted earnings per share.

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