Earnings Per Share

3 Months Ended

Mar. 31, 2024

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


	Three-Month Period Ended
(In thousands except share amounts)	March 31, 2024		March 31, 2023
Net income (loss) attributable to common stockholders	$	26,915	$	38,916
Add: Net income (loss) attributable to Convertible Non-controlling Interests(1)	255		476
Net income (loss) attributable to common stockholders and Convertible Non-controlling Interests	27,170		39,392
Dividends declared:
Common stockholders	(36,589)		(30,297)
Convertible Non-controlling Interests	(347)		(367)
Total dividends declared to common stockholders and Convertible Non-controlling Interests	(36,936)		(30,664)
Undistributed (Distributed in excess of) earnings:
Common stockholders	(9,674)		8,619
Convertible Non-controlling Interests	(92)		109
Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests	$	(9,766)	$	8,728
Weighted average shares outstanding (basic and diluted):
Weighted average shares of common stock outstanding	84,467,546		66,672,049
Weighted average Convertible Non-controlling Interest Units outstanding	800,992		815,933
Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding	85,268,538		67,487,982
Basic earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed	$	0.43	$	0.45
Undistributed (Distributed in excess of)	(0.11)		0.13
	$	0.32	$	0.58
Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit:
Distributed	$	0.43	$	0.45
Undistributed (Distributed in excess of)	(0.11)		0.13
	$	0.32	$	0.58

(1)For each of the three-month periods ended March 31, 2024 and 2023, excludes net income (loss) of $0.2 million, attributable to joint venture partners and Longbridge, as applicable, which have non-participating interests as described in Note 18.