Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Earnings Per Share, Basic and Diluted

The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted earnings per share for the three and nine months ended September 30, 2020 and 2019:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands, except share data)	2020		2019		2020		2019
Numerator:
Net (loss) income attributable to common stockholders - basic	$	(24,691)	$	17,368	$	(63,665)	$	52,464
Interest expense attributable to convertible notes (1)	—		—		—		—
Net (loss) income attributable to common stockholders - diluted	$	(24,691)	$	17,368	$	(63,665)	$	52,464
Denominator:
Weighted average common shares outstanding	54,624,739		54,391,834		54,561,411		52,017,520
Weighted average restricted stock shares	580,343		461,371		578,752		474,804
Basic weighted average shares outstanding	55,205,082		54,853,205		55,140,163		52,492,324
Effect of dilutive shares issued in an assumed conversion of the convertible senior notes	—		—		—		—
Effect of dilutive shares issued in an assumed exercise of warrants issued in conjunction with the term loan facilities	—		—		—		—
Diluted weighted average shares outstanding	55,205,082		54,853,205		55,140,163		52,492,324
(Loss) earnings per share
Basic	$	(0.45)	$	0.32	$	(1.15)	$	1.00
Diluted	$	(0.45)	$	0.32	$	(1.15)	$	1.00

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(1)Includes a nondiscretionary adjustment for the assumed change in the management fee calculation.