EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
NUMERATOR:
Basic and Diluted*
Net income (loss)	$	952	$	136,189	$	(2,588)	$	129,174
Loss (Income) Allocated to Noncontrolling Interests	629		(14,668)		3,038		(15,374)
Distributions to Preferred Shareholders	(6,043)		(6,044)		(18,130)		(18,131)
Dividends Paid on Unvested Restricted Shares and LTIP Units	(122)		(101)		(361)		(101)

Net (loss) income applicable to Common Shareholders	$	(4,584)	$	115,376	$	(18,041)	$	95,568

DENOMINATOR:
Weighted average number of common shares - basic	40,012,965		39,465,645		39,831,101		39,325,679
Effect of dilutive securities:
Restricted Stock Awards and LTIP Units (unvested)	—		1,095,727		—		979,938
Contingently Issued Shares and Units	—		401,401		—		364,489

Weighted average number of common shares - diluted	40,012,965		40,962,773		39,831,101		40,670,106

*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 (loss) income applicable to common shareholders.