EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2023

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 months ended March 31, 2023 and 2022.  

	(in thousands, except per share data)
	Three Months Ended March 31,
	2023		2022
NUMERATOR
Net income (loss) attributable to controlling interests	$	43,571	$	(8,589)
Dividends to preferred shareholders	(1,607)		(1,607)
Numerator for basic earnings (loss) per share – net income available to common shareholders	41,964		(10,196)
Noncontrolling interests – Operating Partnership and Series E preferred units	8,566		(2,157)
Dividends to preferred unitholders	160		160
Numerator for diluted earnings (loss) per share	$	50,690	$	(12,193)
DENOMINATOR
Denominator for basic earnings per share weighted average shares	15,025		15,097
Effect of redeemable operating partnership units	968		—
Effect of Series D preferred units	228		—
Effect of Series E preferred units	2,118		—
Effect of dilutive restricted stock units and stock options	20		—
Denominator for diluted earnings per share	18,359		15,097
NET INCOME (LOSS) PER COMMON SHARE – BASIC	$	2.79	$	(0.68)
NET INCOME (LOSS) PER COMMON SHARE – DILUTED	$	2.76	$	(0.68)