| Schedule of Computation of Basic and Diluted Earnings Per Common Share |
The computation of basic and diluted earnings per common share is
as follows:
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Three Months Ended
June 30, |
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Six Months Ended
June 30,
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Numerator:
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2015 |
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2014 |
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2015 |
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2014 |
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(in thousands,
except share and per share data) |
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Net income attributable to controlling shareholders and
participating securities
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$ |
1,470 |
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$ |
2,828 |
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$ |
3,592 |
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$ |
5,581 |
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Less: Dividends paid on participating securities
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(315 |
) |
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(214 |
) |
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(691 |
) |
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(348 |
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Undistributed earnings attributable to participating securities
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— |
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— |
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— |
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— |
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Net income attributable to controlling shareholders
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$ |
1,155 |
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$ |
2,614 |
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$ |
2,901 |
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$ |
5,233 |
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Denominator:
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Weighted-average number of common shares — basic
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29,479,023 |
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19,973,393 |
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27,941,095 |
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17,944,432 |
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Weighted-average number of common shares — diluted
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29,479,023 |
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19,973,393 |
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27,941,095 |
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17,944,432 |
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Basic earnings per common share
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$ |
0.04 |
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$ |
0.13 |
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$ |
0.10 |
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$ |
0.29 |
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Diluted earnings per common share
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$ |
0.04 |
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$ |
0.13 |
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$ |
0.10 |
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$ |
0.29 |
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Other Information:
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Weighted-average number of OP units
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284,992 |
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345,485 |
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304,940 |
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353,405 |
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Unvested restricted common stock outstanding
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1,277,010 |
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974,406 |
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