Equity (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Schedule of Restricted Stock and Long-Term Incentive Plan Activity

The following is a summary of restricted stock and LTIP unit activity for the three months ended March 31, 2024:

	Restricted Stock	Time-based LTIPs	Market-based LTIPs	Performance-based LTIPs	Weighted Average Grant Fair Value
Unvested balance at December 31, 2023	598,289	3,297,550	2,738,812	1,276,363	$	6.60
Vested	(184,914)	(994,308)	(422,430)	—	7.53
Granted	259,927	1,321,257	1,010,132	781,401	7.74
Forfeited or unearned	(180)	—	(228,660)	—	6.98
Unvested balance at March 31, 2024	673,122	3,624,499	3,097,854	2,057,764	$	6.84

Schedule of Earnings (Loss) Per Share, Basic and Diluted

For the three months ended March 31, 2024 and 2023, earnings per share is computed as follows (amounts in thousands, except per share amounts):

	Three Months Ended
	March 31, 2024		March 31, 2023
Numerator - Basic:
Net income	$	10,215	$	11,694
Private perpetual preferred unit distributions	(1,050)		(1,050)
Net income attributable to non-controlling interests	(3,504)		(4,125)
Net income attributable to common stockholders – basic	$	5,661	$	6,519
Numerator - Diluted:
Net income	$	10,215	$	11,694
Private perpetual preferred unit distributions	(1,050)		(1,050)
Net (income) loss attributable to non-controlling interests in other partnerships	(4)		43
Net income attributable to common stockholders – diluted	$	9,161	$	10,687
Denominator:
Weighted average shares outstanding – basic	163,491		161,339
Operating partnership units	101,071		103,154
Effect of dilutive securities:
Stock-based compensation plans	2,932		704

Weighted average shares outstanding – diluted	267,494		265,197
Earnings per share:
Basic	$	0.03	$	0.04
Diluted	$	0.03	$	0.04