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Income (Loss) Per Share
9 Months Ended
Sep. 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 September 30,Nine Months Ended September 30,
2025202420252024
Net income (loss) attributable to common stockholders - basic and diluted:
Net income (loss) attributable to the Company$5,742 $12,596 $11,273 $16,960 
Less: dividends on preferred stock(8,667)(9,857)(26,928)(30,593)
Less: deemed dividends on preferred stock(5,251)(4,151)(11,086)(6,175)
Less: dividends on common stock(3,410)(3,326)(10,174)(9,977)
Less: dividends on unvested performance stock units(20)(22)(58)(63)
Undistributed net income (loss) allocated to common stockholders(11,606)(4,760)(36,973)(29,848)
Add back: dividends on common stock3,410 3,326 10,174 9,977 
Distributed and undistributed net income (loss) - basic and diluted
$(8,196)$(1,434)$(26,799)$(19,871)
Weighted average common shares outstanding:
Weighted average common shares outstanding – basic and diluted
68,219 66,522 67,419 66,493 
Income (loss) per share - basic and diluted:
Net income (loss) allocated to common stockholders per share$(0.12)$(0.02)$(0.40)$(0.30)
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,
2025202420252024
Net income (loss) allocated to common stockholders is not adjusted for:
Income (loss) allocated to unvested performance stock units20 22 $58 $64 
Income (loss) attributable to redeemable noncontrolling interests in operating partnership(607)(124)(2,358)(1,747)
Dividends on preferred stock - Series B1,058 1,059 3,174 3,175 
Interest expense on Convertible Senior Notes1,135 1,127 3,399 3,374 
Dividends on preferred stock - Series E (inclusive of deemed dividends)11,292 11,288 30,097 28,285 
Dividends on preferred stock - Series M (inclusive of deemed dividends)743 836 2,268 2,833 
Total$13,641 $14,208 $36,638 $35,984 
Weighted average diluted shares are not adjusted for:
Effect of unvested performance stock units63 50 77 34 
Effect of assumed conversion of operating partnership units5,092 6,558 6,057 6,275 
Effect of assumed conversion of preferred stock - Series B4,116 4,116 4,116 4,116 
Effect of assumed conversion of Convertible Senior Notes16,889 15,706 16,581 14,927 
Effect of assumed conversion of preferred stock - Series E116,179 117,946 126,870 160,729 
Effect of assumed conversion of preferred stock - Series M12,633 12,241 13,417 17,226 
Total154,972 156,617 167,118 203,307