Income (Loss) Per Share

9 Months Ended

Sep. 30, 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 September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net income (loss) attributable to common stockholders - basic and diluted:
Net income (loss) attributable to the Company	$	(6,946)	$	(18,677)	$	(24,887)	$	(79,538)
Less: Dividends on preferred stock	(1,977)		(2,554)		(6,258)		(7,664)

Less: Loss on extinguishment of preferred stock - Series B	(111)		—		(4,595)		—





Undistributed net income (loss) allocated to common stockholders	(9,034)		(21,231)		(35,740)		(87,202)

Distributed and undistributed net income (loss) - basic and diluted	$	(9,034)	$	(21,231)	$	(35,740)	$	(87,202)








Weighted average common shares outstanding:
Weighted average common shares outstanding – basic and diluted	59,207		33,923		48,954		33,103






Income (loss) per share - basic:


Net income (loss) allocated to common stockholders per share	$	(0.15)	$	(0.63)	$	(0.73)	$	(2.63)
Income (loss) per share - diluted:


Net income (loss) allocated to common stockholders per share	$	(0.15)	$	(0.63)	$	(0.73)	$	(2.63)

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 September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net income (loss) allocated to common stockholders is not adjusted for:


Income (loss) attributable to redeemable noncontrolling interests in operating partnership	$	(823)	$	(2,381)	$	(3,184)	$	(10,036)
Dividends on preferred stock - Series B	1,058		1,729		3,689		5,189

Loss on extinguishment of preferred stock - Series B	111		—		4,595		—
Interest expense on Convertible Senior Notes	1,361		—		2,010		—
Dividends on preferred stock - Series E	90		—		90		—
Dividends on preferred stock - Series M	4		—		4		—
Total	$	1,801	$	(652)	$	7,204	$	(4,847)
Weighted average diluted shares are not adjusted for:
Effect of unvested restricted shares	89		—		100		25

Effect of assumed conversion of operating partnership units	5,564		3,863		4,543		3,940
Effect of assumed conversion of preferred stock - Series B	4,115		6,728		4,781		6,728
Effect of assumed conversion of exchanged preferred stock - Series B	—		269		485		288
Effect of contingently issuable shares	—		10		—		3
Effect of assumed conversion of Convertible Senior Notes	13,609		—		6,730		—
Effect of assumed conversion of preferred stock - Series E	700		—		233		—
Effect of assumed conversion of preferred stock - Series M	32		—		11		—
Total	24,109		10,870		16,883		10,984