Earnings Per Share

3 Months Ended

Mar. 31, 2023

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


	Three-Month Period Ended
(In thousands except share amounts)	March 31, 2023		March 31, 2022
Net income (loss) attributable to common stockholders	$	38,916	$	(9,902)
Add: Net income (loss) attributable to Convertible Non-controlling Interests(1)	476		(126)
Net income (loss) attributable to common stockholders and Convertible Non-controlling Interests	39,392		(10,028)
Dividends declared:
Common stockholders	(30,297)		(26,189)
Convertible Non-controlling Interests	(367)		(332)
Total dividends declared to common stockholders and Convertible Non-controlling Interests	(30,664)		(26,521)
Undistributed (Distributed in excess of) earnings:
Common stockholders	8,619		(36,091)
Convertible Non-controlling Interests	109		(458)
Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests	$	8,728	$	(36,549)
Weighted average shares outstanding (basic and diluted):
Weighted average shares of common stock outstanding	66,672,049		57,614,015
Weighted average Convertible Non-controlling Interest Units outstanding	815,933		733,354
Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding	67,487,982		58,347,369
Basic earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed	$	0.45	$	0.45
Undistributed (Distributed in excess of)	0.13		(0.62)
	$	0.58	$	(0.17)
Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed	$	0.45	$	0.45
Undistributed (Distributed in excess of)	0.13		(0.62)
	$	0.58	$	(0.17)

(1)For the three-month periods ended March 31, 2023 and 2022, excludes net income (loss) of $0.2 million and $(0.3) million, respectively, attributable to joint venture partners and Longbridge, as applicable, which have non-participating interests as described in Note 17.