NET INCOME (LOSS) PER SHARE (Tables)

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Schedule of Reconciliation of Numerator and Denominator Used to Calculate Basic and Diluted Net Income (Loss) per Share

The following table presents a reconciliation of the numerator and denominator used to calculate basic and diluted net income (loss) per share reported in the Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2025 and 2024.  

	(in thousands, except per share data)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
NUMERATOR
Net income (loss) attributable to controlling interests	$	53,783	$	(1,048)	$	35,534	$	(6,249)
Distributions to preferred shareholders	—		(1,607)		—		(4,821)
Redemption of preferred shares	—		(3,511)		—		(3,511)
Numerator for basic income (loss) per share – net income (loss) available to common shareholders	53,783		(6,166)		35,534		(14,581)
Noncontrolling interests – Operating Partnership and Series E preferred units (1)	9,197		—		6,071		—
Distributions to Series D preferred unitholders (2)	109		—		429		—
Numerator for diluted income (loss) per share (1)	$	63,089	$	(6,166)	$	42,034	$	(14,581)
DENOMINATOR
Denominator for basic income (loss) per share weighted average shares	16,726		15,528		16,731		15,143
Effect of operating partnership units(1)	966		—		972		—
Effect of Series D preferred units(2)	155		—		204		—
Effect of Series E preferred units(1)	1,898		—		1,903		—
Effect of dilutive restricted stock units and stock options	26		—		25		—
Denominator for diluted income (loss) per share	19,771		15,528		19,835		15,143
NET INCOME (LOSS) PER COMMON SHARE – BASIC	$	3.22	$	(0.40)	$	2.12	$	(0.96)
NET INCOME (LOSS) PER COMMON SHARE – DILUTED	$	3.19	$	(0.40)	$	2.12	$	(0.96)

(1)For the three and nine months ended September 30, 2024, the impact of Units and Series E preferred units was excluded from the calculation of net income (loss) per common share - diluted as they were anti-dilutive.

(2)For the three and nine months ended September 30, 2024, distributions to Series D preferred unitholders are excluded from the calculation of net income (loss) per common share - diluted as they were anti-dilutive.