EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Summary of components used to calculate basic and diluted earnings per share

Below is a summary of the components used to calculate basic and diluted earnings per share (in thousands, except per share amounts):

 

	2021		2020		2019
Numerator:
Net (loss) income	$	(68,584)	$	(149,245)	$	82,348
Less: Preferred dividends	(15,431)		(14,838)		(14,838)
Premium on redemption of preferred stock	(2,710)		—		—
Allocation to participating securities	—		(81)		(309)
Attributable to non-controlling interest in Operating Partnership	115		271		(157)
Attributable to non-controlling interest in joint venture	2,896		5,635		419
Net (loss) income attributable to common stockholders, net of amount allocated to participating securities	$	(83,714)	$	(158,258)	$	67,463
Denominator:
Weighted average common shares outstanding - basic	104,471		104,141		103,887
Dilutive effect of equity-based compensation awards	—		—		52
Weighted average common shares outstanding - diluted	104,471		104,141		103,939
(Loss) earnings per share:
Basic and diluted	$	(0.80)	$	(1.52)	$	0.65