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Earnings per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share
The following table sets forth the components of basic and diluted EPS ($ in thousands, except per share):

Three months ended September 30, 2024Three months ended September 30, 2023
Income
(Numerator)		Shares
(Denominator)		Per Share
Amount		Income
(Numerator)		Shares
(Denominator)		Per Share
Amount
Basic EPS
Net loss attributable to common stockholders$(8,029)45,327,254 $(6,089)24,001,702 
Allocation of loss to participating restricted shares— 62 — 
Net loss attributable to unrestricted common stockholders$(8,029)45,327,254 $(0.18)$(6,027)24,001,702 $(0.25)
Effect of dilutive securities(1,2)
Restricted stock grants and Former Manager and director fee shares(3)
— — (62)242,445 
Diluted EPS
Net loss attributable to common stockholders and dilutive securities$(8,029)45,327,254 $(0.18)$(6,089)24,244,147 $(0.25)
(1)The Company’s outstanding 2020 Warrants for an additional 1,950,672 shares of common stock and effect of the put option share settlement would have an anti-dilutive effect on diluted earnings per share for the three months ended September 30, 2023 and has not been included in the calculation.
(2)The effect of interest expense and assumed conversion of shares from convertible notes on the Company’s diluted EPS calculation for the three months ended September 30, 2024 and 2023 would have been anti-dilutive and have been removed from the calculation.
(3)The effect of restricted stock grants and manager and director fee shares on the Company’s diluted EPS calculation for the three months ended September 30, 2024 would have been anti-dilutive and have been removed from the calculation.

Nine months ended September 30, 2024Nine months ended September 30, 2023
Income
(Numerator)		Shares
(Denominator)		Per Share
Amount		Income
(Numerator)		Shares
(Denominator)		Per Share
Amount
Basic EPS
Net loss attributable to common stockholders$(95,088)38,482,055 $(26,064)23,395,727 
Allocation of loss to participating restricted shares304 — 324 — 
Net loss attributable to unrestricted common stockholders$(94,784)38,482,055 $(2.46)$(25,740)23,395,727 $(1.10)
Effect of dilutive securities(1,2)
Restricted stock grants and Former Manager and director fee shares(3)
— — (324)293,191 
Diluted EPS
Net loss attributable to common stockholders and dilutive securities$(94,784)38,482,055 $(2.46)$(26,064)23,688,918 $(1.10)
(1)The Company’s 2020 Warrants and Rithm Warrants, which were partially outstanding for the nine months ended September 30, 2024 and the 2020 Warrants which were outstanding for the entire nine months ended September 30, 2023, would have an anti-dilutive effect on diluted earnings per share for the respective periods they were outstanding and have not been included in the calculation.
(2)The effect of interest expense and assumed conversion of shares from convertible notes on the Company’s diluted EPS calculation for the nine months ended September 30, 2024 and 2023 would have been anti-dilutive and have been removed from the calculation.
(3)The effect of restricted stock grants and manager and director fee shares on the Company’s diluted EPS calculation for the nine months ended September 30, 2023 would have been anti-dilutive and have been removed from the calculation.