Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Reconciliation of Basic and Diluted Earnings Per Share

The following tables set forth reconciliations of the basic and diluted earnings per share computations for the periods presented:

	Three Months Ended March 31,
Basic Earnings per Share	2024			2023
Net income	$	22,111		$	16,233
Less:  Income distributed to participating securities		(462	)		(498	)
Less:  Undistributed income allocable to participating securities		(1,657	)		(1,206	)
Net income available to common stockholders—Basic EPS	$	19,992		$	14,529
Weighted average common shares (in thousands)		146,464			143,862
Basic earnings per share	$	0.14		$	0.10

	Three Months Ended March 31,
Diluted Earnings per Share	2024			2023
Net income available to common stockholders	$	19,992		$	14,529
Add back:  Undistributed income allocable to participating securities		1,657			1,206
Less:  Reallocation of undistributed income allocable to participating securities considered potentially dilutive		(1,622	)		(1,202	)
Net income available to common stockholders—Diluted EPS	$	20,027		$	14,533
Weighted average diluted shares (in thousands):
Weighted average common shares		146,464			143,862
Dilutive effect of common stock equivalents, excluding participating securities		3,525			569
Weighted average diluted shares, excluding participating securities (in thousands)		149,989			144,431
Diluted earnings per share	$	0.13		$	0.10

Schedule of Weighted Average Number of Shares

The following table reconciles weighted average diluted shares as reported on the Company’s Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023, which are determined pursuant to the treasury stock method, to the weighted average diluted shares used to calculate diluted earnings/(loss) per share as disclosed in the table above:

	Three Months Ended March 31,
Reconciliation of Weighted Average Diluted Shares (in thousands)	2024			2023
Weighted average diluted shares as disclosed on the Consolidated Statements of Operations		165,268			159,887
Less:  Participating securities:
Weighted average shares of common stock issuable upon conversion of the Series A Preferred Stock (Note 11)		(14,750	)		(14,750	)
Potentially dilutive restricted stock awards		(529	)		(706	)
Weighted average diluted shares used to calculate diluted earnings per share as disclosed in the table above		149,989			144,431