EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2022

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


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Net income before amounts allocable to non-controlling interests and participating securities	$	23,313	$	(20,569)	$	14,340	$	(53,440)
Less:
Preferred dividends	(3,968)		(3,709)		(7,938)		(7,418)
Dividends paid on additional performance shares earned	(83)		—		(83)		—
Preferred distributions	(655)		—		(1,210)		—
(Income) loss allocable to participating securities	(1,310)		—		—		—
(Income) loss attributable to non-controlling interest in Operating Partnership	—		34		(678)		88
(Income) loss attributable to non-controlling interest in joint ventures	(9,031)		1,843		(8,949)		3,295
Net income (loss) attributable to common stockholders	$	8,266	$	(22,401)	$	(4,518)	$	(57,475)
Denominator:
Weighted average common shares outstanding - basic	105,199		104,495		105,049		104,387

Net income (loss) per share available to common stockholders - basic	$	0.08	$	(0.21)	$	(0.04)	$	(0.55)

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


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Net income (loss) per share attributable to common stockholders	$	8,266	$	(22,401)	$	(4,518)	$	(57,475)

Denominator:
Weighted average common shares outstanding - basic	105,199		104,495		105,049		104,387
Dilutive effect of equity-based compensation awards	164		—		—		—
Dilutive effect of Common Units of Operating Partnership	15,989		—		—		—
Weighted average common shares outstanding - diluted	121,352		104,495		105,049		104,387

Net income (loss) per share available to common stockholders - diluted	$	0.07	$	(0.21)	$	(0.04)	$	(0.55)