Net Income Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Net Income Per Share

Schedule of earnings per share, basic and diluted

Computations of net income per basic and diluted share (in thousands, except share and per share data) were as follows:

	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Net income	$	37,616	$	30,094	$	112,880	$	85,360
Preferred stock dividends		(338)		(338)		(1,014)		(1,014)
Distribution to participating securities		(213)		(147)		(622)		(410)
Net income attributable to common stockholders used to compute net income per share - basic		37,065		29,609		111,244		83,936
Dilutive effect of Exchangeable Senior Notes		72		1,885		474		5,636
Net income attributable to common stockholders used to compute net income per share - diluted	$	37,137	$	31,494	$	111,718	$	89,572
Weighted-average common shares outstanding:
Basic		27,938,568		23,890,537		27,144,953		23,889,903
Restricted stock and RSUs		118,567		98,093		115,445		95,527
PSUs		—		78,582		—		78,582
Dilutive effect of Exchangeable Senior Notes		100,799		2,193,492		235,753		2,193,492
Diluted		28,157,934		26,260,704		27,496,151		26,257,504
Net income attributable to common stockholders per share:
Basic	$	1.33	$	1.24	$	4.10	$	3.51
Diluted	$	1.32	$	1.20	$	4.06	$	3.41