EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Reconciliation of Numerator and Denominator Used To Calculate Basic and Diluted EPS

The following table presents a reconciliation of the numerator and denominator used to calculate basic and diluted earnings per share reported in the Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2021 and 2020:  

	(in thousands, except per share data)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
NUMERATOR
Net income (loss) attributable to controlling interests	$	(9,492)	$	19,629	$	7,179	$	8,819
Dividends to preferred shareholders	(1,607)		(1,607)		(4,821)		(4,921)
Redemption of preferred shares	—		(1)		—		297
Numerator for basic earnings (loss) per share – net income available to common shareholders	(11,099)		18,021		2,358		4,195
Noncontrolling interests – Operating Partnership and Series E preferred units	(1,930)		1,387		(1,013)		248
Dividends to preferred unitholders	160		160		480		480
Numerator for diluted earnings (loss) per share	$	(12,869)	$	19,568	$	1,825	$	4,923
DENOMINATOR
Denominator for basic earnings per share weighted average shares	14,065		12,885		13,501		12,424
Effect of redeemable operating partnership units	865		1,020		917		1,039
Effect of Series D preferred units	228		228		228		—
Effect of Series E preferred units	705		—		239		—
Effect of dilutive restricted stock units and stock options	59		10		32		—
Denominator for diluted earnings per share	15,922		14,143		14,917		13,463
NET EARNINGS (LOSS) PER COMMON SHARE – BASIC	$	(0.79)	$	1.40	$	0.17	$	0.33
NET EARNINGS (LOSS) PER COMMON SHARE – DILUTED	$	(0.81)	$	1.38	$	0.12	$	0.33