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Income (Loss) Per Share
6 Months Ended
Jun. 30, 2025
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 June 30,Six Months Ended June 30,
2025202420252024
Net income (loss) attributable to common stockholders - basic and diluted:
Net income (loss) attributable to the Company$(5,467)$(11,565)$5,531 $4,364 
Less: dividends on preferred stock(8,992)(10,329)(18,261)(20,736)
Less: deemed dividends on preferred stock(1,559)(26)(5,835)(2,024)
Less: dividends on common stock(3,411)(3,326)(6,764)(6,650)
Less: dividends on unvested performance stock units(19)(21)(38)(42)
Undistributed net income (loss) allocated to common stockholders(19,448)(25,267)(25,367)(25,088)
Add back: dividends on common stock3,411 3,326 6,764 6,650 
Distributed and undistributed net income (loss) - basic and diluted
$(16,037)$(21,941)$(18,603)$(18,438)
Weighted average common shares outstanding:
Weighted average common shares outstanding – basic and diluted
67,279 66,501 67,013 66,478 
Income (loss) per share - basic and diluted:
Net income (loss) allocated to common stockholders per share$(0.24)$(0.33)$(0.28)$(0.28)
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,
2025202420252024
Net income (loss) allocated to common stockholders is not adjusted for:
Income (loss) allocated to unvested performance stock units19 21 $38 $42 
Income (loss) attributable to redeemable noncontrolling interests in operating partnership(1,489)(1,919)(1,751)(1,623)
Dividends on preferred stock - Series B1,058 1,058 2,116 2,116 
Interest expense on Convertible Senior Notes1,133 1,124 2,264 2,247 
Dividends on preferred stock - Series E (inclusive of deemed dividends)7,913 7,596 18,805 16,997 
Dividends on preferred stock - Series M (inclusive of deemed dividends)755 876 1,525 1,997 
Total$9,389 $8,756 $22,997 $21,776 
Weighted average diluted shares are not adjusted for:
Effect of unvested performance stock units37 39 40 26 
Effect of assumed conversion of operating partnership units6,255 6,364 6,521 6,133 
Effect of assumed conversion of preferred stock - Series B4,116 4,116 4,116 4,116 
Effect of assumed conversion of Convertible Senior Notes16,586 15,464 16,427 14,537 
Effect of assumed conversion of preferred stock - Series E130,997 162,180 133,333 182,121 
Effect of assumed conversion of preferred stock - Series M13,858 17,098 13,909 19,719 
Total171,849 205,261 174,346 226,652