v3.25.1
Income (Loss) Per Share (Tables)
 3 Months Ended
Mar. 31, 2025
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 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 
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 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