Earnings Per Share (Tables)

3 Months Ended

Sep. 30, 2023

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, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Net income (loss) attributable to common stockholders	$	6,591	$	(33,290)	$	48,405	$	(108,073)
Add: Net income (loss) attributable to Convertible Non-controlling Interests(1)	80		(424)		591		(1,374)
Net income (loss) attributable to common stockholders and Convertible Non-controlling Interests	6,671		(33,714)		48,996		(109,447)
Dividends declared:
Common stockholders	(30,626)		(27,131)		(91,146)		(80,328)
Convertible Non-controlling Interests	(366)		(346)		(1,100)		(1,020)
Total dividends declared to common stockholders and Convertible Non-controlling Interests	(30,992)		(27,477)		(92,246)		(81,348)
Undistributed (Distributed in excess of) earnings:
Common stockholders	(24,035)		(60,421)		(42,741)		(188,401)
Convertible Non-controlling Interests	(286)		(770)		(509)		(2,394)
Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests	$	(24,321)	$	(61,191)	$	(43,250)	$	(190,795)
Weighted average shares outstanding (basic and diluted):
Weighted average shares of common stock outstanding	67,789,827		60,215,948		67,212,137		59,295,566
Weighted average Convertible Non-controlling Interest Units outstanding	814,855		766,527		815,570		754,224
Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding	68,604,682		60,982,475		68,027,707		60,049,790
Basic earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed	$	0.45	$	0.45	$	1.35	$	1.35
Undistributed (Distributed in excess of)	(0.35)		(1.00)		(0.63)		(3.17)
	$	0.10	$	(0.55)	$	0.72	$	(1.82)
Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed	$	0.45	$	0.45	$	1.35	$	1.35
Undistributed (Distributed in excess of)	(0.35)		(1.00)		(0.63)		(3.17)
	$	0.10	$	(0.55)	$	0.72	$	(1.82)

(1)For the three-month periods ended September 30, 2023 and 2022, excludes net income (loss) of $0.4 million and $0.2 million, respectively, and for the nine-month periods ended September 30, 2023 and 2022, excludes net income (loss) of $2.5 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.