EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2021

The following table is a reconciliation of the income or loss (numerator) and the weighted average shares (denominator) used in the calculation of basic and diluted earnings per common share. The computation of basic and diluted earnings per share is presented below.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
NUMERATOR:
Basic and Diluted*
Net Loss	$	(15,932)	$	(48,173)	$	(30,365)	$	(145,925)
Loss allocated to Noncontrolling Interests	2,177		5,032		2,990		18,289
Distributions to Preferred Shareholders	(6,044)		(6,044)		(18,131)		(18,132)


Net loss applicable to Common Shareholders	$	(19,799)	$	(49,185)	$	(45,506)	$	(145,768)

DENOMINATOR:
Weighted average number of common shares - basic	39,139,610		38,639,048		39,070,059		38,604,483
Effect of dilutive securities:
Restricted Stock Awards and LTIP Units (unvested)	—		—		—		—
Contingently Issued Shares and Units	—		—		—		—
Weighted average number of common shares - diluted	39,139,610		38,639,048		39,070,059		38,604,483

*Income (loss) allocated to noncontrolling interest in HHLP has been excluded from the numerator and Common Units and Vested LTIP Units have been omitted from the denominator for the purpose of computing diluted earnings per share since including these amounts in the numerator and denominator would have no impact. In addition, potentially dilutive common shares, if any, have been excluded from the denominator if they are anti-dilutive to income (loss) applicable to common shareholders.