EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Reconciliation of Numerator and Denominator Used To Calculate Basic and Diluted EPS

The following table presents a reconciliation of the numerator and denominator used to calculate basic and diluted earnings per share reported in the Condensed Consolidated Financial Statements for the three and six months ended June 30, 2022 and 2021.  

	(in thousands, except per share data)
	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
NUMERATOR
Net income (loss) attributable to controlling interests	$	(2,991)	$	21,538	$	(11,580)	$	16,671
Dividends to preferred shareholders	(1,607)		(1,607)		(3,214)		(3,214)
Numerator for basic earnings (loss) per share – net income available to common shareholders	(4,598)		19,931		(14,794)		13,457
Noncontrolling interests – Operating Partnership and Series E preferred units	(950)		1,386		(3,107)		917
Dividends to preferred unitholders	160		160		320		320
Numerator for diluted earnings (loss) per share	$	(5,388)	$	21,477	$	(17,581)	$	14,694
DENOMINATOR
Denominator for basic earnings per share weighted average shares	15,369		13,353		15,233		13,216
Effect of redeemable operating partnership units	—		916		—		939
Effect of Series D preferred units	—		228		—		228
Effect of dilutive restricted stock units and stock options	—		17		—		18
Denominator for diluted earnings per share	15,369		14,514		15,233		14,401
NET EARNINGS (LOSS) PER COMMON SHARE – BASIC	$	(0.30)	$	1.49	$	(0.97)	$	1.02
NET EARNINGS (LOSS) PER COMMON SHARE – DILUTED	$	(0.30)	$	1.48	$	(0.97)	$	1.02