| 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
September 30, |
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Nine Months Ended
September 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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$ |
2,119 |
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$ |
2,564 |
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$ |
5,712 |
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$ |
8,145 |
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Less: Dividends paid on participating securities
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(321 |
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(203 |
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(1,012 |
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(534 |
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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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$ |
1,798 |
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$ |
2,361 |
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$ |
4,700 |
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$ |
7,611 |
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Denominator:
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Weighted-average number of common shares — basic
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31,221,982 |
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21,774,411 |
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29,046,742 |
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19,235,121 |
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Weighted-average number of common shares — diluted
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31,221,982 |
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21,774,411 |
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29,046,742 |
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19,235,121 |
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Basic earnings per common share
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$ |
0.06 |
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$ |
0.11 |
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$ |
0.16 |
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$ |
0.40 |
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Diluted earnings per common share
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$ |
0.06 |
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$ |
0.11 |
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$ |
0.16 |
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$ |
0.40 |
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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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332,852 |
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298,218 |
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346,479 |
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Unvested restricted common stock outstanding
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1,297,584 |
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973,520 |
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