| Schedule of Computation of Basic and Diluted Earnings Per Common Share of Common Stock |
The computation of basic and diluted earnings per common share of common stock is as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Numerator: |
(in millions, except share and per share data) |
Net income (loss) attributable to controlling stockholders and participating securities |
$ |
21.4 |
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$ |
34.5 |
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$ |
59.1 |
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$ |
61.4 |
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Less: Dividends and distributions on participating securities |
(0.2) |
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(0.1) |
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(0.8) |
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(0.5) |
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| Less: Undistributed earnings attributable to participating securities |
— |
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— |
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— |
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— |
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| Net income (loss) attributable to controlling stockholders — basic |
21.2 |
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34.4 |
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58.3 |
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60.9 |
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| Add: Interest expense related to Convertible Notes under the if-converted method |
0.2 |
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0.3 |
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0.9 |
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1.0 |
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| Add: Undistributed earnings attributable to participating securities |
— |
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— |
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— |
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— |
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| Net income (loss) attributable to controlling stockholders — dilutive |
$ |
21.4 |
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$ |
34.7 |
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$ |
59.2 |
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$ |
61.9 |
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| Denominator: |
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| Weighted-average number of common shares — basic |
107,715,057 |
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87,721,756 |
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98,665,598 |
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86,784,895 |
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| Weighted-average number of common shares — diluted |
109,145,088 |
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90,762,820 |
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101,142,782 |
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89,928,741 |
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| Basic earnings per common share |
$ |
0.20 |
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$ |
0.39 |
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$ |
0.59 |
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$ |
0.70 |
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| Diluted earnings per common share |
$ |
0.20 |
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$ |
0.38 |
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$ |
0.59 |
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$ |
0.69 |
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| Securities being allocated a portion of earnings: |
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| Weighted-average number of OP units |
1,365,040 |
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1,136,809 |
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1,294,511 |
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955,574 |
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As of September 30, 2023 |
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As of September 30, 2022 |
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| Participating securities: |
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| Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions outstanding at period end |
613,373 |
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392,602 |
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Potentially dilutive securities as of period end that were not dilutive for the presented periods: |
Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions |
613,373 |
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392,602 |
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613,373 |
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392,602 |
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| Restricted stock units |
97,890 |
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39,438 |
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97,890 |
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39,438 |
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| LTIP Units with market-based vesting conditions |
493,858 |
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211,824 |
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493,858 |
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211,824 |
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| Potential shares of common stock related to Convertible Notes |
18,374,760 |
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3,537,460 |
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18,374,760 |
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3,537,460 |
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