Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share of Common Stock (Tables)

v3.19.3
Earnings per Share of Common Stock (Tables)
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
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:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Numerator:
2019
 
2018
 
2019
 
2018
 
(in thousands, except share and per share data)
Net income (loss) attributable to controlling stockholders and participating securities
$
9,102

 
$
16,483

 
$
35,487

 
$
32,522

Less: Dividends on participating securities
(300
)
 
(433
)
 
(900
)
 
(1,342
)
Undistributed earnings attributable to participating securities
—

 
—

 
—

 
—

Net income (loss) attributable to controlling stockholders
$
8,802

 
$
16,050

 
$
34,587

 
$
31,180

Denominator:
 
 
 
 
 
 
 
Weighted-average number of common shares — basic
64,922,325

 
52,728,587

 
63,492,884

 
52,167,308

Weighted-average number of common shares — diluted
65,630,711

 
52,728,587

 
64,147,835

 
52,167,308

Basic earnings per common share
$
0.14

 
$
0.30

 
$
0.55

 
$
0.60

Diluted earnings per common share
$
0.13

 
$
0.30

 
$
0.54

 
$
0.60

Other Information:
 
 
 
 
 
 
 
Weighted-average number of OP units
279,415

 
281,289

 
278,202

 
282,171

Unvested restricted common stock outstanding at period end (i.e., participating securities)
 
 
 
 
763,575

 
1,310,796