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Income (Loss) Per Share (Tables)
 6 Months Ended
Jun. 30, 2023
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 June 30,Six Months Ended June 30,
2023202220232022
Net income (loss) attributable to common stockholders - basic and diluted:
Net income (loss) attributable to the Company$(1,846)$14,366 $14,188 $29,029 
Less: dividends on preferred stock(10,877)(4,064)(21,227)(7,367)
Less: deemed dividends on preferred stock(301)— (2,755)— 
Less: dividends on common stock(3,291)(707)(6,580)(1,414)
Less: dividends on unvested performance stock units(36)(7)(72)(14)
Less: dividends on unvested restricted shares(8)(6)(17)(12)
Less: net (income) loss allocated to performance stock units— (95)— (207)
Less: net (income) loss allocated to unvested restricted shares— (74)— (161)
Undistributed net income (loss) allocated to common stockholders(16,359)9,413 (16,463)19,854 
Add back: dividends on common stock3,291 707 6,580 1,414 
Distributed and undistributed net income (loss) - basic$(13,068)$10,120 $(9,883)$21,268 
Interest expense on Convertible Senior Notes— 1,108 — 2,211 
Dividends on preferred stock - Series E (inclusive of deemed dividends)— 2,053 — 3,452 
Dividends on preferred stock - Series M (inclusive of deemed dividends)— 128 — 149 
Distributed and undistributed net income (loss) - diluted$(13,068)$13,409 $(9,883)$27,080 
Weighted average common shares outstanding:
Weighted average common shares outstanding – basic 65,806 70,740 68,378 68,325 
Effect of assumed exercise of warrants— — — 1 
Effect of assumed conversion of Convertible Senior Notes— 13,610 — 13,610 
Effect of assumed conversion of preferred stock - Series E— 22,207 — 16,232 
Effect of assumed conversion of preferred stock - Series M— 1,112 — 630 
Weighted average common shares outstanding – diluted65,806 107,669 68,378 98,798 
Income (loss) per share - basic:
Net income (loss) allocated to common stockholders per share$(0.20)$0.14 $(0.14)$0.31 
Income (loss) per share - diluted:
Net income (loss) allocated to common stockholders per share$(0.20)$0.12 $(0.14)$0.27 
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 June 30,Six Months Ended June 30,
2023202220232022
Net income (loss) allocated to common stockholders is not adjusted for:
Income (loss) allocated to unvested restricted shares$8 $80 $17 $173 
Income (loss) allocated to unvested performance stock units36 102 72 221 
Income (loss) attributable to redeemable noncontrolling interests in operating partnership(925)846 (664)1,813 
Dividends on preferred stock - Series B1,058 1,058 2,116 2,116 
Interest expense on Convertible Senior Notes1,117 — 2,231 — 
Dividends on preferred stock - Series E (inclusive of deemed dividends)8,162 — 17,892 — 
Dividends on preferred stock - Series M (inclusive of deemed dividends)1,133 — 2,324 — 
Total$10,589 $2,086 $23,988 $4,323 
Weighted average diluted shares are not adjusted for:
Effect of unvested restricted shares— 34 — 25 
Effect of unvested performance stock units340 — 346 1 
Effect of assumed conversion of operating partnership units5,172 5,868 5,576 5,862 
Effect of assumed conversion of preferred stock - Series B4,116 4,116 4,116 4,116 
Effect of assumed conversion of Convertible Senior Notes13,609 — 13,609 — 
Effect of assumed conversion of preferred stock - Series E102,751 — 101,478 — 
Effect of assumed conversion of preferred stock - Series M12,219 — 11,945 — 
Total138,207 10,018 137,070 10,004