NET INCOME PER SHARE (Tables)

9 Months Ended

Sep. 30, 2023

The computation of basic and diluted net income per share for the periods presented in the condensed consolidated financial statements is shown in the tables below.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022

	(In thousands, except per share amounts)
Net income attributable to Class A common shareholders	$	15,580	$	14,936	$	42,030	$	25,239
Less: Net income available to participating unvested restricted Class A common shareholders(1)	(4,414)		(4,174)		(12,996)		(8,358)
Excess preferred carrying amount over consideration paid(2)	—		32,900		—		32,900
Total net income attributable to Class A common shareholders	$	11,166	$	43,662	$	29,034	$	49,781

Weighted average shares outstanding - basic(3)	53,340		41,816		50,464		40,042
Dilutive effect of unvested Class A common shares(4)(5)	123		39		255		33
Weighted average shares outstanding - diluted	53,463		41,855		50,719		40,075

Net income available per common share - basic	$	0.21	$	1.04	$	0.58	$	1.24
Net income available per common share - diluted	$	0.21	$	1.04	$	0.57	$	1.24

(1)Represents dividends paid to unvested restricted Class A common shareholders.

(2)Represented excess of carrying value of redeemable noncontrolling interest Preferred Units over redemption price at redemption. For further detail, refer to Note 12—Series A Cumulative Redeemable Preferred Units in the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2022.

(3)Share and per share amounts have been retrospectively restated to reflect the Company’s reverse stock split, which was effected June 8, 2022.

(4)The effect of an assumed exchange of the outstanding public and private warrants for shares of Class A Common Stock would have been anti-dilutive for all periods presented in which the public and private warrants were outstanding.

(5)The effect of an assumed exchange of outstanding Common Units (and the cancellation of a corresponding number of shares of outstanding Class C Common Stock) would have been anti-dilutive for all periods presented in which the Common Units were outstanding.