v3.22.4
Income (Loss) Per Share (Tables)
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Summary of Amounts Used in Calculating Basic and Diluted Earnings (Loss) Per Share
The following table reconciles the amounts used in calculating basic and diluted income (loss) per share (in thousands, except per share amounts):
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(restated)(restated)
Net income (loss) attributable to common stockholders - basic and diluted:
Net income (loss) attributable to the Company$(8,040)$(6,946)$20,989 $(24,887)
Less: Dividends on preferred stock(6,028)(1,977)(13,395)(6,258)
Less: Deemed dividends on redeemable preferred stock(2,649)— (4,802)— 
Less: Dividends on common stock(710)— (2,124)— 
Less: Loss on extinguishment of preferred stock - Series B— (111)— (4,595)
Less: Dividends on unvested performance stock units(5)— (19)— 
Less: Dividends on unvested restricted shares(4)— (16)— 
Less: Net (income) loss allocated to performance stock units— — (43)— 
Less: Net (income) loss allocated to unvested restricted shares— — (49)— 
Undistributed net income (loss) allocated to common stockholders$(17,436)$(9,034)$541 $(35,740)
Add back: Dividends on common stock710 — 2,124 — 
Distributed and undistributed net income (loss) - basic and diluted$(16,726)$(9,034)$2,665 $(35,740)
Weighted average common shares outstanding:
Weighted average common shares outstanding – basic70,956 59,207 69,213 48,954 
Effect of assumed exercise of warrants— — 1 — 
Weighted average common shares outstanding – diluted70,956 59,207 69,214 48,954 
Income (loss) per share - basic:
Net income (loss) allocated to common stockholders per share$(0.24)$(0.15)$0.04 $(0.73)
Income (loss) per share - diluted:
Net income (loss) allocated to common stockholders per share$(0.24)$(0.15)$0.04 $(0.73)
Summary of Computation of Diluted Income Per Share
Due to their anti-dilutive effect, the computation of diluted income (loss) per share does not reflect the adjustments for the following items (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(restated)(restated)
Net income (loss) allocated to common stockholders is not adjusted for:
Income (loss) allocated to unvested restricted shares$4 $— $65 $— 
Income (loss) allocated to unvested performance stock units5 — 62 — 
Income (loss) attributable to redeemable noncontrolling interests in operating partnership(1,166)(823)647 (3,184)
Dividends on preferred stock - Series B1,059 1,058 3,175 3,689 
Loss on extinguishment of preferred stock - Series B— 111 — 4,595 
Interest expense on Convertible Senior Notes1,111 1,361 3,322 2,010 
Dividends on preferred stock - Series E (inclusive of deemed dividends)6,059 90 11,434 90 
Dividends on preferred stock - Series M (inclusive of deemed dividends)734 4 1,113 4 
Total$7,806 $1,801 $19,818 $7,204 
Weighted average diluted shares are not adjusted for:
Effect of unvested restricted shares47 89 33 100 
Effect of assumed conversion of operating partnership units5,956 5,564 5,893 4,543 
Effect of assumed conversion of preferred stock - Series B4,116 4,115 4,116 4,781 
Effect of assumed conversion of exchanged preferred stock - Series B— — — 485 
Effect of assumed conversion of Convertible Senior Notes13,609 13,609 13,609 6,730 
Effect of assumed conversion of preferred stock - Series E41,008 700 24,491 233 
Effect of assumed conversion of preferred stock - Series M4,563 32 1,941 11 
Total69,299 24,109 50,083 16,883