Earnings Per Share

9 Months Ended

Sep. 30, 2022

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


	Three-Month Period Ended				Nine-Month Period Ended
(In thousands except share amounts)	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Net income (loss) attributable to common stockholders	$	(33,290)	$	20,564	$	(108,073)	$	91,075
Add: Net income (loss) attributable to Convertible Non-controlling Interests(1)	(424)		281		(1,374)		1,363
Net income (loss) attributable to common stockholders and Convertible Non-controlling Interests	(33,714)		20,845		(109,447)		92,438
Dividends declared:
Common stockholders	(27,131)		(22,854)		(80,328)		(55,253)
Convertible Non-controlling Interests	(346)		(307)		(1,020)		(805)
Total dividends declared to common stockholders and Convertible Non-controlling Interests	(27,477)		(23,161)		(81,348)		(56,058)
Undistributed (Distributed in excess of) earnings:
Common stockholders	(60,421)		(2,290)		(188,401)		35,822
Convertible Non-controlling Interests	(770)		(26)		(2,394)		558
Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests	$	(61,191)	$	(2,316)	$	(190,795)	$	36,380
Weighted average shares outstanding (basic and diluted):
Weighted average shares of common stock outstanding	60,215,948		49,853,267		59,295,566		45,827,785
Weighted average Convertible Non-controlling Interest Units outstanding	766,527		680,066		754,224		674,964
Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding	60,982,475		50,533,333		60,049,790		46,502,749
Basic earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed	$	0.45	$	0.45	$	1.35	$	1.19
Undistributed (Distributed in excess of)	(1.00)		(0.04)		(3.17)		0.80
	$	(0.55)	$	0.41	$	(1.82)	$	1.99
Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed	$	0.45	$	0.45	$	1.35	$	1.19
Undistributed (Distributed in excess of)	(1.00)		(0.04)		(3.17)		0.80
	$	(0.55)	$	0.41	$	(1.82)	$	1.99

(1)For the three-month periods ended September 30, 2022 and 2021, excludes net income (loss) of $0.2 million and $1.2 million, respectively, attributable to joint venture partners, which have non-participating interests as described in Note 15. For the nine-month periods ended September 30, 2022 and 2021, excludes net income (loss) of $0.3 million and $3.4 million, respectively, attributable to joint venture partners, which have non-participating interests as described in Note 15.