Earnings (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Reconciliation of Basic and Diluted Earnings Per Common Share

The following is a reconciliation of basic and diluted earnings (loss) per common share (in thousands, except share and per-share data):

	For the three months ended June 30,				For the six months ended June 30,
	2024		2023		2024		2023
Numerator:
Net income (loss) attributable to common shareholders	$	20,304	$	33,738	$	(18,677)	$	(178)
Less: Dividends paid on unvested share-based compensation	(10)		(10)		(19)		(21)
Less: Undistributed earnings attributable to share-based compensation	(147)		(276)		—		—
Net income (loss) available to common shareholders — basic	$	20,147	$	33,452	$	(18,696)	$	(199)
Plus: Interest expense on convertible notes	3,281		3,281		—		—
Net income (loss) available to common shareholders — diluted	$	23,428	$	36,733	$	(18,696)	$	(199)
Denominator:
Weighted-average number of common shares — basic	120,094,380		121,696,400		120,089,803		123,581,926
Effect of dilutive share-based compensation	209,309		101,380		—		—
Effect of dilutive convertible notes	29,441,175		29,441,175		—		—
Weighted-average number of common shares — diluted	149,744,864		151,238,955		120,089,803		123,581,926
Net income (loss) per share available to common shareholders — basic	$	0.17	$	0.27	$	(0.16)	$	—
Net income (loss) per share available to common shareholders — diluted	$	0.16	$	0.24	$	(0.16)	$	—