Earnings per share (Tables)

6 Months Ended

Jun. 30, 2021

Summary of Basic and Diluted Earnings Per Share

The computation of basic and diluted net income (loss) per share is as follows (in thousands, except per share data, and unaudited):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Numerator:
Net income	$	4,199	$	10,209	$	12,117	$	18,329
(Income) loss attributable to noncontrolling interests	251		(317)		172		(427)
Preferred stock dividends	(7,045)		(7,045)		(14,090)		(14,090)
Earnings attributable to participating securities	(2,678)		(5,552)		(7,964)		(7,148)
Net loss available to common stockholders after allocation to participating securities	$	(5,273)	$	(2,705)	$	(9,765)	$	(3,336)
Denominator:
Weighted average shares outstanding - basic	69,338		59,773		66,903		58,900
Effect of Class O units, TSR Units, FFO Units and options to purchase Class A common stock on an "as if" converted basis	—		—		—		—
Weighted average shares outstanding - diluted	69,338		59,773		66,903		58,900

Basic net loss per share *	$	(0.08)	$	(0.05)	$	(0.15)	$	(0.06)

Diluted net loss per share *	$	(0.08)	$	(0.05)	$	(0.15)	$	(0.06)

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*Note: The calculations of basic and diluted net income (loss) per share above do not include the following number of Class A partnership units, Class O units, TSR Units, FFO Units and options to purchase common stock on an “as if” converted basis, and the effects of Series B Convertible preferred stock on an “as if” converted basis, as their respective inclusions would have been antidilutive:


	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Class A Partnership units	6,440	6,671	6,453	6,671
Class O units, TSR Units, FFO Units and options to purchase common stock on an "as if" converted basis	1,434	1,131	1,372	1,066
Series B Convertible preferred stock on an "as if" converted basis	6,787	6,756	6,783	6,753