EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2023

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,
	2023		2022
NUMERATOR:
Basic and Diluted*
Net loss	$	(9,501)	$	(16,599)
Loss allocated to Noncontrolling Interests	606		408
Distributions to Preferred Shareholders	(6,044)		(6,044)
Dividends Paid on Unvested Restricted Shares and LTIP Units	(116)		—

Net loss applicable to Common Shareholders	$	(15,055)	$	(22,235)

DENOMINATOR:
Weighted average number of common shares - basic	39,626,231		39,231,550
Effect of dilutive securities:
Restricted Stock Awards and LTIP Units (unvested)	—		—
Contingently Issued Shares and Units	—		—

Weighted average number of common shares - diluted	39,626,231		39,231,550

*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 loss applicable to common shareholders.