EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Reconciliation of Numerator and Denominator Used To Calculate Basic and Diluted Earnings per Share

The following table presents a reconciliation of the numerator and denominator used to calculate basic and diluted earnings per share reported in the consolidated financial statements for the years ended December 31, 2021, 2020, and 2019:

	(in thousands, except per share data)
	Year Ended December 31,
	2021		2020		2019
NUMERATOR
Net income (loss) attributable to controlling interests	(29)		4,441		78,669
Dividends to preferred shareholders	(6,428)		(6,528)		(6,821)
Redemption of preferred shares	—		297		—
Numerator for basic earnings per share – net income (loss) available to common shareholders	(6,457)		(1,790)		71,848
Noncontrolling interests – Operating Partnership and Series E preferred units	(2,806)		(212)		6,752
Dividends to preferred unitholders	640		640		537
Numerator for diluted earnings (loss) per share	$	(8,623)	$	(1,362)	$	79,137
DENOMINATOR
Denominator for basic earnings per share weighted average shares	13,803		12,564		11,744
Effect of redeemable operating partnership units	899		1,030		1,237
Effect of Series D preferred units	228		—		193
Effect of Series E preferred units	729		—		—
Effect of diluted restricted stock awards and restricted stock units	45		—		8
Denominator for diluted earnings per share	15,704		13,594		13,182
NET EARNINGS (LOSS) PER COMMON SHARE – BASIC	$	(0.47)	$	(0.15)	$	6.06
NET EARNINGS (LOSS) PER COMMON SHARE – DILUTED	$	(0.47)	$	(0.15)	$	6.00