Equity (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Schedule of Change in Net Income Attributable to Common Shareholders

The following is net income attributable to common stockholders and the issuance of our class A shares in exchange for the conversion of OP Units into common stock (amounts in thousands):

	Year ended December 31,
	2021		2020		2019
Net income (loss) attributable to common stockholders	$	(10,711)	$	(16,712)	$	49,445
Increase in additional paid-in capital for the conversion of OP Units into common stock	10,384		30,170		27,740
Change from net income attributable to common stockholders and transfers from noncontrolling interests	$	(327)	$	13,458	$	77,185

Schedule of Equity Securities Repurchased

The following table summarizes our purchases of equity securities for the year ended December 31, 2021:    

Period	Total Number of Shares Purchased	Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plan	Maximum Approximate Dollar Value Available for Future Purchase (in thousands)
Year ended December 31, 2021	4,886,932	$	9.56	4,886,932	$	453,296

Schedule of Dividends Declared

The following table summarizes the dividends paid on our Class A common stock and Class B common stock for the years ended December 31, 2021, 2020 and 2019:    

Record Date	Payment Date	Amount per Share
December 20, 2021	December 31, 2021	$0.035
September 15, 2021	September 30, 2021	$0.035
June 15, 2021	June 30, 2021	$0.035
June 19, 2020	June 30, 2020	$0.105
March 16, 2020	March 31, 2020	$0.105
December 23, 2019	December 31, 2019	$0.105
September 16, 2019	September 30, 2019	$0.105
June 14, 2019	June 28, 2019	$0.105
March 15, 2019	March 29, 2019	$0.105

Schedule of Restricted Stock and Long-Term Incentive Plan Activity

The following is a summary of restricted stock and LTIP unit activity for the year ended December 31, 2021:

	Restricted Stock	LTIP Units	Weighted Average Grant Fair Value
Unvested balance at December 31, 2020	217,700	7,750,284	$	6.94
Vested	(72,520)	(992,776)	11.54
Granted	120,313	2,230,579	8.52
Forfeited or unearned	(51,085)	(1,449,361)	5.70
Unvested balance at December 31, 2021	214,408	7,538,726	$	7.02

Schedule of Earnings Per Share, Basic and Diluted

Earnings per share for the years ended December 31, 2021, 2020 and 2019 is computed as follows (amounts in thousands, except per share amounts):

	For the Year Ended December 31,
	2021		2020		2019
Numerator - Basic:
Net income (loss)	$	(13,037)	$	(22,889)	$	84,290
Private perpetual preferred unit distributions	(4,201)		(4,197)		(1,743)
Net (income) loss attributable to non-controlling interest in operating partnership	6,527		10,374		(33,102)
Earnings allocated to unvested shares	(26)		(60)		(45)
Net income (loss) attributable to common stockholders - basic	$	(10,737)	$	(16,772)	$	49,400
Numerator - Diluted:
Net income (loss)	$	(13,037)	$	(22,889)	$	84,290
Private perpetual preferred unit distributions	(4,201)		(4,197)		(1,743)
Earnings allocated to unvested shares	(26)		(60)		(45)
Net income (loss) attributable to common stockholders - diluted	$	(17,264)	$	(27,146)	$	82,502
Denominator:
Weighted average shares outstanding - basic	172,445		175,169		178,340
Operating partnership units	104,975		108,657		119,458
Effect of dilutive securities:
Stock-based compensation plans	—		11		—
Weighted average shares outstanding - diluted	277,420		283,837		297,798
Earnings per share - basic	$	(0.06)	$	(0.10)	$	0.28
Earnings per share - diluted	$	(0.06)	$	(0.10)	$	0.28