| 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, |
|
2020 |
|
2019 |
|
2020 |
|
2019 |
| Numerator: |
(in millions, except share and per share data) |
Net income (loss) attributable to controlling stockholders and participating securities |
$ |
21.2 |
|
|
$ |
9.1 |
|
|
$ |
57.5 |
|
|
$ |
35.5 |
|
Less: Dividends and distributions on participating securities |
(0.2) |
|
|
(0.3) |
|
|
(0.7) |
|
|
(0.9) |
|
|
|
|
|
|
|
|
|
| Net income (loss) attributable to controlling stockholders — basic |
21.0 |
|
|
8.8 |
|
|
56.8 |
|
|
34.6 |
|
Add: Interest expense associated with convertible debt |
0.1 |
|
|
— |
|
|
0.1 |
|
|
— |
|
| Net income (loss) attributable to controlling stockholders — dilutive |
$ |
21.1 |
|
|
$ |
8.8 |
|
|
$ |
56.9 |
|
|
$ |
34.6 |
|
|
|
|
|
|
|
|
|
| Denominator: |
|
|
|
|
|
|
|
| Weighted-average number of common shares — basic |
74,012,788 |
|
|
64,922,325 |
|
|
71,376,004 |
|
|
63,492,884 |
|
| Weighted-average number of common shares — diluted |
76,131,252 |
|
|
65,630,711 |
|
|
72,644,626 |
|
|
64,147,835 |
|
| Basic earnings per common share |
$ |
0.28 |
|
|
$ |
0.14 |
|
|
$ |
0.80 |
|
|
$ |
0.55 |
|
| Diluted earnings per common share |
$ |
0.28 |
|
|
$ |
0.13 |
|
|
$ |
0.78 |
|
|
$ |
0.54 |
|
|
|
|
|
|
|
|
|
| Securities being allocated a portion of earnings: |
|
|
|
|
|
|
|
| Weighted-average number of OP units |
321,261 |
|
|
279,415 |
|
|
301,582 |
|
|
278,202 |
|
|
|
|
|
|
|
|
As of September 30, 2020 |
|
As of September 30, 2019 |
|
|
|
|
| Participating securities: |
|
|
|
|
|
|
|
Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions |
653,071 |
|
|
964,885 |
|
|
|
|
|
| Potentially dilutive securities as of period end: |
|
|
|
|
|
|
|
Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions |
653,071 |
|
|
964,885 |
|
|
|
|
|
| Restricted stock units |
235,866 |
|
|
435,578 |
|
|
|
|
|
| LTIP Units with market-based vesting conditions |
312,704 |
|
|
180,500 |
|
|
|
|
|
| Potential shares of common stock related to convertible notes |
8,485,630 |
|
|
5,508,677 |
|
|
|
|
|
|