Income (Loss) Per Share

3 Months Ended

Mar. 31, 2021

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,
		2021		2020
Net income (loss) attributable to common stockholders - basic and diluted:
Net income (loss) attributable to the Company		$	(8,708)	$	(12,930)
Less: Dividends on preferred stock		(2,388)		(2,555)

Less: Loss on extinguishment of preferred stock - Series B		(73)		—





Undistributed net income (loss) allocated to common stockholders		(11,169)		(15,485)

Distributed and undistributed net income (loss) - basic and diluted		$	(11,169)	$	(15,485)








Weighted average common shares outstanding:
Weighted average common shares outstanding – basic and diluted		39,605		32,474






Income (loss) per share - basic:


Net income (loss) allocated to common stockholders per share		$	(0.28)	$	(0.48)
Income (loss) per share - diluted:


Net income (loss) allocated to common stockholders per share		$	(0.28)	$	(0.48)

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,
		2021		2020
Net income (loss) allocated to common stockholders is not adjusted for:


Income (loss) attributable to redeemable noncontrolling interests in operating partnership		(1,079)		(1,885)
Dividends on preferred stock - Series B		1,563		1,730

Loss on extinguishment of preferred stock - Series B		73		—
Total		$	557	$	(155)
Weighted average diluted shares are not adjusted for:
Effect of unvested restricted shares		83		76

Effect of assumed conversion of operating partnership units		4,006		4,112
Effect of assumed conversion of preferred stock - Series B		6,078		6,728
Effect of assumed conversion of exchanged preferred stock - Series B		551		361

Total		10,718		11,277