Earnings Per Share

6 Months Ended

Jun. 30, 2022

The components of the computation of basic and diluted EPS are as follows:


	Three-Month Period Ended				Six-Month Period Ended
(In thousands except share amounts)	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Net income (loss) attributable to common stockholders	$	(64,881)	$	32,655	$	(74,783)	$	70,511
Add: Net income (loss) attributable to Convertible Non-controlling Interests(1)	(824)		505		(949)		1,082
Net income (loss) attributable to common stockholders and Convertible Non-controlling Interests	(65,705)		33,160		(75,732)		71,593
Dividends declared:
Common stockholders	(27,008)		(19,265)		(53,197)		(32,399)
Convertible Non-controlling Interests	(342)		(298)		(674)		(498)
Total dividends declared to common stockholders and Convertible Non-controlling Interests	(27,350)		(19,563)		(53,871)		(32,897)
Undistributed (Distributed in excess of) earnings:
Common stockholders	(91,889)		13,390		(127,980)		38,112
Convertible Non-controlling Interests	(1,166)		207		(1,623)		584
Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests	$	(93,055)	$	13,597	$	(129,603)	$	38,696
Weighted average shares outstanding (basic and diluted):
Weighted average shares of common stock outstanding	60,028,141		43,781,684		58,827,747		43,781,684
Weighted average Convertible Non-controlling Interest Units outstanding	762,427		678,178		747,971		672,371
Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding	60,790,568		44,459,862		59,575,718		44,454,055
Basic earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed	$	0.45	$	0.44	$	0.90	$	0.74
Undistributed (Distributed in excess of)	(1.53)		0.31		(2.17)		0.87
	$	(1.08)	$	0.75	$	(1.27)	$	1.61
Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed	$	0.45	$	0.44	$	0.90	$	0.74
Undistributed (Distributed in excess of)	(1.53)		0.31		(2.17)		0.87
	$	(1.08)	$	0.75	$	(1.27)	$	1.61

(1)For the three-month periods ended June 30, 2022 and 2021, excludes net income (loss) of $0.4 million and $1.4 million, respectively, attributable to joint venture partners, which have non-participating interests as described in Note 15. For the six-month periods ended June 30, 2022 and 2021, excludes net income (loss) of $0.1 million and $2.3 million, respectively, attributable to joint venture partners, which have non-participating interests as described in Note 15.