Earnings Per Share

3 Months Ended

Dec. 31, 2023

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


	Year Ended December 31,
(In thousands except share amounts)	2023		2022		2021
Net income (loss) attributable to common stockholders	$	60,902	$	(85,339)	$	125,346
Add: Net income (loss) attributable to Convertible Non-controlling Interests(1)	730		(1,082)		1,783
Net income (loss) attributable to common stockholders and Convertible Non-controlling Interests	61,632		(86,421)		127,129
Dividends declared:
Common stockholders	(123,381)		(108,263)		(81,104)
Convertible Non-controlling Interests	(1,458)		(1,378)		(1,120)
Total dividends declared to common stockholders and Convertible Non-controlling Interests	(124,839)		(109,641)		(82,224)
Undistributed (Distributed in excess of) earnings:
Common stockholders	(62,479)		(193,602)		44,242
Convertible Non-controlling Interests	(728)		(2,460)		663
Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests	$	(63,207)	$	(196,062)	$	44,905
Weighted average shares outstanding (basic and diluted):
Weighted average shares of common stock outstanding	68,252,096		59,852,647		48,535,221
Weighted average Convertible Non-controlling Interest Units outstanding	811,067		763,043		679,710
Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding	69,063,163		60,615,690		49,214,931
Basic earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed	$	1.80	$	1.80	$	1.64
Undistributed (Distributed in excess of)	(0.91)		(3.23)		0.94
	$	0.89	$	(1.43)	$	2.58
Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed	$	1.80	$	1.80	$	1.64
Undistributed (Distributed in excess of)	(0.91)		(3.23)		0.94
	$	0.89	$	(1.43)	$	2.58

(1)For the years ended December 31, 2023, 2022, and 2021, excludes net income (loss) of $3.1 million, $0.3 million, and $5.3 million, respectively, attributable to joint venture partners and Longbridge, as applicable, which have non-participating interests as described in Note 18.