EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Reconciliation of Earnings Per Share

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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
NUMERATOR:
Basic and Diluted*
Net income (loss)	$	5,961	$	9,584	$	(3,540)	$	(7,015)
Loss (Income) Allocated to Noncontrolling Interests	1,803		(1,114)		2,409		(706)
Distributions to Preferred Shareholders	(6,043)		(6,043)		(12,087)		(12,087)
Dividends Paid on Unvested Restricted Shares and LTIP Units	(122)		—		(238)		—

Net income (loss) applicable to Common Shareholders	$	1,599	$	2,427	$	(13,456)	$	(19,808)

DENOMINATOR:
Weighted average number of common shares - basic	39,849,859		39,277,269		39,738,662		39,254,536
Effect of dilutive securities:
Restricted Stock Awards and LTIP Units (unvested)	1,011,129		853,136		—		—
Contingently Issued Shares and Units	426,480		323,380		—		—

Weighted average number of common shares - diluted	41,287,468		40,453,785		39,738,662		39,254,536

*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 net income (loss) applicable to common shareholders.