EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Reconciliation of Numerator and Denominator Used To Calculate Basic and Diluted Earnings per Share

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 nine months ended September 30, 2020 and 2019:  

	(in thousands, except per share data)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
NUMERATOR
Net income (loss) attributable to controlling interests	$	19,629	$	31,596	$	8,819	$	30,011
Dividends to preferred shareholders	(1,607)		(1,705)		(4,921)		(5,116)
Redemption of preferred shares	(1)		—		297		—
Numerator for basic earnings (loss) per share – net income available to common shareholders	18,021		29,891		4,195		24,895
Noncontrolling interests – Operating Partnership	1,387		3,145		248		2,550
Dividends to preferred unitholders	160		160		480		377
Numerator for diluted earnings (loss) per share	$	19,568	$	33,196	$	4,923	$	27,822
DENOMINATOR
Denominator for basic earnings per share weighted average shares	12,885		11,625		12,424		11,705
Effect of redeemable operating partnership units	1,020		1,223		1,039		1,282
Effect of Series D preferred units	228		228		—		181
Effect of dilutive restricted stock units and stock options	10		11		—		6
Denominator for diluted earnings per share	14,143		13,087		13,463		13,174
NET EARNINGS (LOSS) PER COMMON SHARE – BASIC	$	1.40	$	2.57	$	0.33	$	2.11
NET EARNINGS (LOSS) PER COMMON SHARE – DILUTED	$	1.38	$	2.54	$	0.33	$	2.11