v3.26.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share The following table presents a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations and the calculation of basic and diluted earnings per share for the three months ended March 31, 2026 and 2025 (in thousands, except share and per share data):
Three Months Ended March 31,
Basic Numerator20262025
Net income/(loss)$12,292 $23,705 
Net (income)/loss from non-controlling interest(312)353 
Less: Preferred stock dividends(5,916)(6,748)
Net income/(loss) applicable to common stock$6,064 $17,310 
Less: Participating securities' share in earnings(326)(524)
Basic net income/(loss) applicable to common stockholders$5,738 $16,786 
Diluted Numerator
Basic net income/(loss) applicable to common stockholders$5,738 $16,786 
Diluted net income/(loss) applicable to common stockholders$5,738 $16,786 
Denominator
Weighted-average common shares outstanding for basic earnings per share79,926,118 82,053,686 
Weighted-average common shares outstanding for diluted earnings per share(1)(2)
79,926,118 82,053,686 
Basic earnings per share$0.07 $0.20 
Diluted earnings per share$0.07 $0.20 
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(1) The effect of the weighted average dilutive shares excluded restricted shares and stock units for the three months ended March 31, 2026 and 2025 of 76,977 and 221,663, respectively, as the effect was anti-dilutive. Additionally, the effect of dilutive shares excluded 5,370,498 weighted average common share equivalents of convertible preferred stock for the three months ended March 31, 2026 and 2025, respectively, as the effect was anti-dilutive.
(2) The effect of the weighted average dilutive shares excluded Class A units of FBRT OP LLC for the three months ended March 31, 2026 of 8,385,951 as the effect was anti-dilutive.