EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

Schedule of Components used to Calculate Basic and Diluted Earnings Per Share

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Numerator:
Net income	$	2,037	$	38,698	$	2,660	$	41,531
Adjusted for:
Distributions to and accretion of redeemable non-controlling interests	(657)		(657)		(1,314)		(1,314)
Preferred dividends	(3,968)		(3,968)		(7,938)		(7,938)
(Income) loss from non-controlling interests in joint ventures	769		1,375		(514)		737
Dividends paid on unvested time-based restricted stock	(117)		(88)		(210)		(140)
Allocation of loss (income) to participating securities	210		(4,822)		782		(4,412)
Numerator for (loss) income per common stockholder - basic	(1,726)		30,538		(6,534)		28,464
Adjusted for:
Allocation of income to participating securities (1)	—		3,533		—		2,180
Numerator for (loss) income per common stockholder - diluted	$	(1,726)	$	34,071	$	(6,534)	$	30,644
Denominator:
Weighted average common shares outstanding - basic	107,633		105,918		107,820		105,819
Adjusted for:
Dilutive effect of equity-based compensation awards	—		1,968		—		1,896
Effect of assumed conversion of convertible debt	—		25,617		—		25,448
Effect of assumed conversion of Operating Partnership units	—		15,948		—		15,949
Weighted average common shares outstanding - diluted	107,633		149,451		107,820		149,112
Net (loss) income per share available to common stockholders:
Basic	$	(0.02)	$	0.29	$	(0.06)	$	0.27
Diluted	$	(0.02)	$	0.23	$	(0.06)	$	0.21

(1)    Balances reflect potentially dilutive securities issuable based on the estimated vesting of performance-based restricted stock assuming that the reporting date is the vesting date and unvested time-based restricted stock using the treasury stock method. These shares were not included for the three and six months ending June 30, 2025 since their inclusion would have been anti-dilutive.