Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share of Common Stock

v3.19.1
Earnings per Share of Common Stock
 3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Earnings per Share of Common Stock
Earnings per Share of Common Stock
Both the net income or loss attributable to the non-controlling OP units and the non-controlling limited partners’ outstanding OP units have been excluded from the basic earnings per share and the diluted earnings per share calculations attributable to common stockholders. Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per share pursuant to the two-class method.
The computation of basic and diluted earnings per common share of common stock is as follows:
 
Three Months Ended March 31,
Numerator:
2019
 
2018
 
(in millions, except share and per share data)
Net income (loss) attributable to controlling stockholders and participating securities
$
13.6

 
$
(1.2
)
Less: Dividends paid on participating securities
(0.3
)
 
(0.5
)
Undistributed earnings attributable to participating securities
—

 
—

Net income (loss) attributable to controlling stockholders
$
13.3

 
$
(1.7
)
Denominator:
 
 
 
Weighted-average number of common shares — basic
61,748,906

 
51,710,910

Weighted-average number of common shares — diluted
62,365,271

 
51,710,910

Basic earnings per common share
$
0.22

 
$
(0.03
)
Diluted earnings per common share
$
0.21

 
$
(0.03
)
Other Information:
 
 
 
Weighted-average number of OP units
277,586

 
283,963

Unvested restricted common stock outstanding (i.e., participating securities)
983,655

 
1,112,940