Earnings Per Share

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

A portion of the Company's non-vested share-based payment awards are considered participating securities and as such, the Company is required to use the two-class method for the computation of basic and diluted earnings per share. Under the two-class computation method, net losses are not allocated to participating securities unless the holder of the security has a contractual obligation to share in the losses. The non-vested share-based payment awards are not allocated losses as the awards do not have a contractual obligation to share in losses of the Company.

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the three and six months ended June 30, 2026 and 2025:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
BASIC
Net income (loss) attributable to common shareholders	$	(1,630)	$	27,450	$	(3,572)	$	44,729
Weighted-average number of common shares outstanding - basic	58,094,324		58,374,448		58,128,487		58,357,922
Net income (loss) attributable to common shareholders - per common share basic	$	(0.03)	$	0.47	$	(0.06)	$	0.77
DILUTED
Net income (loss) attributable to common shareholders - basic	$	(1,630)	$	27,450	$	(3,572)	$	44,729
Weighted-average common shares outstanding - basic	58,094,324		58,374,448		58,128,487		58,357,922
Effect of dilutive securities:
Unvested share-based payment awards	—		67,185		—		92,814
Weighted-average common shares outstanding - diluted	58,094,324		58,441,633		58,128,487		58,450,736
Net income (loss) attributable to common shareholders - per common share diluted	$	(0.03)	$	0.47	$	(0.06)	$	0.77

For per common share amounts, all incremental shares are considered anti-dilutive for periods that have a loss from continuing operations attributable to common shareholders. In addition, other common share equivalents may be anti-dilutive in certain periods.

Calculation of dilutive earnings requires certain potentially dilutive shares to be excluded when the inclusion of such shares would be anti-dilutive. The following table summarizes the potentially dilutive shares excluded from the dilutive earnings per share calculation as the inclusion of such shares would be anti-dilutive:

	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Unvested participating securities	8,807	—	8,411	1,203
Nonvested participating shares	272,160	—	237,173	—
Preferred shares - Series C	942,106	942,114	942,110	942,114