Per Common Share Amounts

3 Months Ended

Mar. 31, 2022

We calculate basic earnings per common share by dividing net income (loss) by the weighted average number of our common shares of beneficial interest, $.01 per share, or our common shares, outstanding during the period. We calculate diluted earnings per share using the more dilutive of the two class method or the treasury stock method. Unvested share awards and other potentially dilutive common shares, together with the related impact on earnings, are considered when calculating diluted earnings per share. The calculation of basic and diluted earnings per share is as follows:


	Three Months Ended March 31,
	2022		2021
Numerators:
Net income (loss)	$	(13,407)	$	37,860
Income attributable to unvested participating securities	—		(123)
Net income (loss) used in calculating earnings per share	$	(13,407)	$	37,737

Denominators:
Weighted average common shares outstanding - basic	48,243		48,161
Effect of dilutive securities: unvested share awards (1)	—		35
Weighted average common shares outstanding - diluted	48,243		48,196

Net income (loss) per common share - basic	$	(0.28)	$	0.78
Net income (loss) per common share - diluted	$	(0.28)	$	0.78

(1)For the three months ended March 31, 2022, 22 unvested common shares were not included in the calculation of diluted earnings per share because to do so would have been antidilutive.