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Income (Loss) Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Income (Loss) Per Share

Income (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):

									Year Ended December 31,
															2020						2019						2018
Net income (loss) attributable to common stockholders - basic and diluted:
Net income (loss) attributable to the Company															$	(105,262)					$	371					$	1,320
Less: Dividends on preferred stock															(10,219)						(10,142)						(7,205)
Less: Dividends on common stock															—						(24,145)						(20,495)
Less: Dividends on unvested performance stock units															—						(261)						—
Add: Claw back of dividends on cancelled performance stock units															202						—						114
Less: Dividends on unvested restricted shares															—						(405)						(314)
Undistributed net income (loss) allocated to common stockholders															(115,279)						(34,582)						(26,580)
Add back: Dividends on common stock															—						24,145						20,495
Distributed and undistributed net income (loss) - basic and diluted															$	(115,279)					$	(10,437)					$	(6,085)
Weighted average common shares outstanding:
Weighted average common shares outstanding – basic and diluted															33,998						32,289						31,944
Income (loss) per share - basic:
Net income (loss) allocated to common stockholders per share															$	(3.39)					$	(0.32)					$	(0.19)
Income (loss) per share - diluted:
Net income (loss) allocated to common stockholders per share															$	(3.39)					$	(0.32)					$	(0.19)

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):

									Year Ended December 31,
															2020						2019						2018
Net income (loss) allocated to common stockholders is not adjusted for:
Income (loss) allocated to unvested restricted shares															$	—					$	405					$	314
Income (loss) allocated to unvested performance stock units															—						261						(114)
Income (loss) attributable to redeemable noncontrolling interests in operating partnership															(12,979)						(1,207)						(751)
Dividends on preferred stock - Series B															6,919						6,842						6,829
Total															$	(6,060)					$	6,301					$	6,278
Weighted average diluted shares are not adjusted for:
Effect of unvested restricted shares															22						51						55
Effect of unvested performance stock units															—						193						48
Effect of assumed conversion of operating partnership units															3,923						4,219						4,159
Effect of assumed conversion of preferred stock - Series B															6,728						6,581						6,569
Total															10,673						11,044						10,831

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- References

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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 http://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 http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://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 http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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