EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2022

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 March 31,
	2022		2021
NUMERATOR:
Basic and Diluted*
Net (loss) income	$	(16,966)	$	9,090
Loss (Income) allocated to Noncontrolling Interests	451		(164)
Distributions to Preferred Shareholders	(6,044)		(6,043)


Net (loss) income applicable to Common Shareholders	$	(22,559)	$	2,883

DENOMINATOR:
Weighted average number of common shares - basic	39,231,550		38,970,893
Effect of dilutive securities:
Restricted Stock Awards and LTIP Units (unvested)	—		114,668
Contingently Issued Shares and Units	—		754,913

Weighted average number of common shares - diluted	39,231,550		39,840,474

*Loss (Income) 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 (loss) income applicable to common shareholders.