Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Summary of the basic and diluted earnings per share

The following table presents a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations and the calculation of basic and diluted earnings per share for the three and six months ended June 30, 2021 and June 30, 2020 (in thousands, except share and per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
Numerator	2021		2020		2021		2020
Net income/(loss)	$	30,010	$	7,814	$	60,156	$	414
Less: Preferred stock dividends	3,725		3,455		7,236		7,970
Less: Undistributed earnings allocated to preferred stock	3,287		—		6,518		—
Net income/(loss) attributable to common stockholders (for basic and diluted earnings per share)	$	22,998	$	4,359	$	46,402	$	(7,556)
Denominator
Weighted-average common shares outstanding for basic earnings per share	44,262,934		44,376,437		44,276,480		44,319,531
Effect of dilutive shares:
Unvested restricted shares	16,005		12,943		15,947		—
Weighted-average common shares outstanding for diluted earnings per share	44,278,939		44,389,380		44,292,427		44,319,531
Basic earnings per share	$	0.52	$	0.10	$	1.05	$	(0.17)
Diluted earnings per share	$	0.52	$	0.10	$	1.05	$	(0.17)