Earnings Per Share

12 Months Ended

Dec. 31, 2022

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


	Year Ended December 31,
(In thousands except share amounts)	2022		2021		2020
Net income (loss) attributable to common stockholders	$	(85,339)	$	125,346	$	17,245
Add: Net income (loss) attributable to Convertible Non-controlling Interests(1)	(1,082)		1,783		(3)
Net income (loss) attributable to common stockholders and Convertible Non-controlling Interests	(86,421)		127,129		17,242
Dividends declared:
Common stockholders	(108,263)		(81,104)		(55,211)
Convertible Non-controlling Interests	(1,378)		(1,120)		(812)
Total dividends declared to common stockholders and Convertible Non-controlling Interests	(109,641)		(82,224)		(56,023)
Undistributed (Distributed in excess of) earnings:
Common stockholders	(193,602)		44,242		(37,966)
Convertible Non-controlling Interests	(2,460)		663		(815)
Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests	$	(196,062)	$	44,905	$	(38,781)
Weighted average shares outstanding (basic and diluted):
Weighted average shares of common stock outstanding	59,852,647		48,535,221		43,486,336
Weighted average Convertible Non-controlling Interest Units outstanding	763,043		679,710		635,245
Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding	60,615,690		49,214,931		44,121,581
Basic earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed	$	1.80	$	1.64	$	1.26
Undistributed (Distributed in excess of)	(3.23)		0.94		(0.87)
	$	(1.43)	$	2.58	$	0.39
Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed	$	1.80	$	1.64	$	1.26
Undistributed (Distributed in excess of)	(3.23)		0.94		(0.87)
	$	(1.43)	$	2.58	$	0.39

(1)For the years ended December 31, 2022, 2021, and 2020, excludes net income (loss) of $0.3 million, $5.3 million, and $3.4 million, respectively, attributable to joint venture partners, which have non-participating interests as described in Note 17.