Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Components of basic and diluted earnings per share

The following table sets forth the components of basic and diluted EPS ($ in thousands, except per share):

	Three months ended March 31, 2024					Three months ended March 31, 2023
	Income (Numerator)		Shares (Denominator)	Per Share Amount		Income (Numerator)		Shares (Denominator)	Per Share Amount
Basic EPS
Consolidated net loss attributable to common stockholders	$	(74,319)	30,700,278			$	(7,941)	22,920,943
Allocation of loss to participating restricted shares	465		—			111		—
Consolidated net loss attributable to unrestricted common stockholders	$	(73,854)	30,700,278	$	(2.41)	$	(7,830)	22,920,943	$	(0.34)
Effect of dilutive securities(1,2)
Restricted stock grants and Manager and director fee shares(3)	(465)		193,113			—		—
Diluted EPS
Consolidated net loss attributable to common stockholders and dilutive securities	$	(74,319)	30,893,391	$	(2.41)	$	(7,830)	22,920,943	$	(0.34)

(1)The Company's warrants, which were partially outstanding for the three months ended March 31, 2024 and outstanding for the entire three months ended March 31, 2023, for an additional 1,950,672 shares of common stock and effect of the put option share settlement would have an anti-dilutive effect on diluted earnings per share for the three months ended March 31, 2024 and 2023 and have not been included in the calculation.

(2)The effect of interest expense and assumed conversion of shares from convertible notes on the Company's diluted EPS calculation for the three months ended March 31, 2024 and 2023 would have been anti-dilutive and have been removed from the calculation.

(3)The effect of restricted stock grants and manager and director fee shares on the Company's diluted EPS calculation for the three months ended March 31, 2023 would have been anti-dilutive and have been removed from the calculation.