v3.25.1
Income (Loss) Per Share
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Income (Loss) Per Share Income (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 March 31,
20252024
Net income (loss) attributable to common stockholders - basic and diluted:
Net income (loss) attributable to the Company$10,998 $15,929 
Less: dividends on preferred stock(9,269)(10,407)
Less: deemed dividends on preferred stock(4,276)(1,998)
Less: dividends on common stock(3,353)(3,324)
Less: dividends on unvested performance stock units(19)(21)
Less: dividends on unvested restricted shares— (2)
Undistributed net income (loss) allocated to common stockholders(5,919)177 
Add back: dividends on common stock3,353 3,324 
Distributed and undistributed net income (loss) - basic and diluted
$(2,566)$3,501 
Dividends on preferred stock - Series E (inclusive of deemed dividends)— 9,401 
Distributed and undistributed net income (loss) - diluted$(2,566)$12,902 
Weighted average common shares outstanding:
Weighted average common shares outstanding – basic and diluted
66,744 66,455 
Effect of assumed conversion of preferred stock - Series E— 202,061 
Weighted average common shares outstanding – diluted66,744 268,516 
Income (loss) per share - basic and diluted:
Net income (loss) allocated to common stockholders per share$(0.04)$0.05 
Income (loss) per share - diluted:
Net income (loss) allocated to common stockholders per share$(0.04)$0.05 
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 March 31,
20252024
Net income (loss) allocated to common stockholders is not adjusted for:
Income (loss) allocated to unvested performance stock units$19 $23 
Income (loss) attributable to redeemable noncontrolling interests in operating partnership(262)296 
Dividends on preferred stock - Series B1,058 1,058 
Interest expense on Convertible Senior Notes1,131 1,123 
Dividends on preferred stock - Series E (inclusive of deemed dividends)10,892 — 
Dividends on preferred stock - Series M (inclusive of deemed dividends)770 1,121 
Total$13,608 $3,621 
Weighted average diluted shares are not adjusted for:
Effect of unvested performance stock units43 13 
Effect of assumed conversion of operating partnership units6,786 5,902 
Effect of assumed conversion of preferred stock - Series B4,116 4,116 
Effect of assumed conversion of Convertible Senior Notes16,267 13,609 
Effect of assumed conversion of preferred stock - Series E135,669 — 
Effect of assumed conversion of preferred stock - Series M13,959 22,340 
Total176,840 45,980