XML 29 R18.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Income (Loss) Per Share | 3 Months Ended
--- | ---
Mar. 31, 2024
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):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023 |  |
Net income (loss) attributable to common stockholders - basic and diluted: |  |  |  |  |  |  |  |  |
Net income (loss) attributable to the Company |  |  |  |  | $ | 15,929 |  |  | $ | 16,034 |  |  |
Less: dividends on preferred stock |  |  |  |  | (10,407) |  |  | (10,350) |  |  |
Less: deemed dividends on preferred stock |  |  |  |  | (1,998) |  |  | (2,454) |  |  |
Less: dividends on common stock |  |  |  |  | (3,324) |  |  | (3,289) |  |  |
Less: dividends on unvested performance stock units |  |  |  |  | (21) |  |  | (36) |  |  |
Less: dividends on unvested restricted shares |  |  |  |  | — |  |  | (9) |  |  |
Less: net (income) loss allocated to performance stock units |  |  |  |  | (2) |  |  | — |  |  |
Undistributed net income (loss) allocated to common stockholders |  |  |  |  | 177 |  |  | (104) |  |  |
Add back: dividends on common stock |  |  |  |  | 3,324 |  |  | 3,289 |  |  |
Distributed and undistributed net income (loss) - basic |  |  |  |  | $ | 3,501 |  |  | $ | 3,185 |  |  |
Income (loss) attributable to redeemable noncontrolling interest in operating partnership |  |  |  |  | — |  |  | 261 |  |  |
Dividends on preferred stock - Series E (inclusive of deemed dividends) |  |  |  |  | 9,401 |  |  | — |  |  |
Distributed and undistributed net income (loss) - diluted |  |  |  |  | $ | 12,902 |  |  | $ | 3,446 |  |  |
Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding – basic |  |  |  |  | 66,455 |  |  | 66,498 |  |  |
Effect of assumed conversion of operating partnership units |  |  |  |  | — |  |  | 5,980 |  |  |
Effect of assumed conversion of preferred stock - Series E |  |  |  |  | 202,061 |  |  | — |  |  |
Weighted average common shares outstanding – diluted |  |  |  |  | 268,516 |  |  | 72,478 |  |  |
Income (loss) per share - basic: |  |  |  |  |  |  |  |  |
Net income (loss) allocated to common stockholders per share |  |  |  |  | $ | 0.05 |  |  | $ | 0.05 |  |  |
Income (loss) per share - diluted: |  |  |  |  |  |  |  |  |
Net income (loss) allocated to common stockholders per share |  |  |  |  | $ | 0.05 |  |  | $ | 0.05 |  |  |
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,
|  |  |  |  | 2024 |  | 2023 |  |
Net income (loss) allocated to common stockholders is not adjusted for: |  |  |  |  |  |  |  |  |
Income (loss) allocated to unvested restricted shares |  |  |  |  | $ | — |  |  | $ | 9 |  |  |
Income (loss) allocated to unvested performance stock units |  |  |  |  | 23 |  |  | 36 |  |  |
Income (loss) attributable to redeemable noncontrolling interests in operating partnership |  |  |  |  | 296 |  |  | — |  |  |
Dividends on preferred stock - Series B |  |  |  |  | 1,058 |  |  | 1,058 |  |  |
Interest expense on Convertible Senior Notes |  |  |  |  | 1,123 |  |  | 1,114 |  |  |
Dividends on preferred stock - Series E (inclusive of deemed dividends) |  |  |  |  | — |  |  | 9,730 |  |  |
Dividends on preferred stock - Series M (inclusive of deemed dividends) |  |  |  |  | 1,121 |  |  | 1,191 |  |  |
Total |  |  |  |  | $ | 3,621 |  |  | $ | 13,138 |  |  |
Weighted average diluted shares are not adjusted for: |  |  |  |  |  |  |  |  |
Effect of unvested performance stock units |  |  |  |  | 13 |  |  | 353 |  |  |
Effect of assumed conversion of operating partnership units |  |  |  |  | 5,902 |  |  | — |  |  |
Effect of assumed conversion of preferred stock - Series B |  |  |  |  | 4,116 |  |  | 4,116 |  |  |
Effect of assumed conversion of Convertible Senior Notes |  |  |  |  | 13,609 |  |  | 13,609 |  |  |
Effect of assumed conversion of preferred stock - Series E |  |  |  |  | — |  |  | 100,205 |  |  |
Effect of assumed conversion of preferred stock - Series M |  |  |  |  | 22,340 |  |  | 11,671 |  |  |
Total |  |  |  |  | 45,980 |  |  | 129,954 |  |  |

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration