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Income (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2022

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,
															2022						2021
Net income (loss) attributable to common stockholders - basic and diluted:
Net income (loss) attributable to the Company															$	14,663					$	(8,708)
Less: Dividends on preferred stock															(3,303)						(2,388)
Less: Dividends on common stock															(707)						—
Less: Loss on extinguishment of preferred stock - Series B															—						(73)
Less: Dividends on unvested performance stock units															(7)						—
Less: Dividends on unvested restricted shares															(6)						—
Less: Net (income) loss allocated to performance stock units															(112)						—
Less: Net (income) loss allocated to unvested restricted shares															(89)						—
Undistributed net income (loss) allocated to common stockholders															$	10,439					$	(11,169)
Add back: Dividends on common stock															707						—
Distributed and undistributed net income (loss) - basic															$	11,146					$	(11,169)
Interest expense on Convertible Senior Notes															1,103						—
Dividends on preferred stock - Series E															1,399						—
Dividends on preferred stock - Series M															$	21					$	—
Distributed and undistributed net income (loss) - diluted															$	13,669					$	(11,169)
Weighted average common shares outstanding:
Weighted average common shares outstanding – basic															65,878						39,605
Effect of assumed exercise of warrants															3						—
Effect of assumed conversion of Convertible Senior Notes															13,609						—
Effect of assumed conversion of preferred stock - Series E															10,258						—
Effect of assumed conversion of preferred stock - Series M															147						—
Weighted average common shares outstanding – diluted															89,895						39,605
Income (loss) per share - basic:
Net income (loss) allocated to common stockholders per share															$	0.17					$	(0.28)
Income (loss) per share - diluted:
Net income (loss) allocated to common stockholders per share															$	0.15					$	(0.28)

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,
															2022						2021
Net income (loss) allocated to common stockholders is not adjusted for:
Income (loss) allocated to unvested restricted shares															$	95					$	—
Income (loss) allocated to unvested performance stock units															120						—
Income (loss) attributable to redeemable noncontrolling interests in operating partnership															967						(1,079)
Dividends on preferred stock - Series B															1,058						1,563
Loss on extinguishment of preferred stock - Series B															—						73
Total															$	2,240					$	557
Weighted average diluted shares are not adjusted for:
Effect of unvested restricted shares															17						83
Effect of unvested performance stock units															1						—
Effect of assumed conversion of operating partnership units															5,856						4,006
Effect of assumed conversion of preferred stock - Series B															4,116						6,078
Effect of assumed conversion of exchanged preferred stock - Series B															—						551
Total															9,990						10,718

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- References

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

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- Definition

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

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1278-109256

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-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
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