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Net (Loss) Income Available to Common Stockholders Per Share of the Company
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Net Income Available to Common Stockholders Per Share of the Company
Net (Loss) Income Available to Common Stockholders Per Share of the Company
The following table reconciles the numerator and denominator in computing the Company's basic and diluted per-share computations for net (loss) income available to common stockholders for the three and nine months ended September 30, 2012 and 2011:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2012
 
2011
 
2012
 
2011
 
(in thousands, except share and per share amounts)
Numerator:
 
 
 
 
 
 
 
(Loss) income from continuing operations
$
(665
)
 
$
(3,391
)
 
$
1,535

 
$
(3,744
)
Loss from continuing operations attributable to noncontrolling common units of the Operating Partnership
143

 
203

 
404

 
438

Preferred distributions and dividends
(5,342
)
 
(3,799
)
 
(17,775
)
 
(11,397
)
Allocation to participating securities (nonvested shares and time-based RSUs)
(408
)
 
(110
)
 
(1,225
)
 
(759
)
Numerator for basic and diluted loss from continuing operations available to common stockholders
(6,272
)
 
(7,097
)
 
(17,061
)
 
(15,462
)
Income from discontinued operations
3,187

 
17,681

 
81,936

 
26,373

Income from discontinued operations attributable to noncontrolling common units of the Operating Partnership
(76
)
 
(499
)
 
(2,112
)
 
(758
)
Numerator for basic and diluted net (loss) income available to common stockholders
$
(3,161
)
 
$
10,085

 
$
62,763

 
$
10,153

Denominator:
 
 
 
 
 
 
 
Basic weighted average vested shares outstanding
71,889,475

 
58,355,127

 
67,975,309

 
56,136,477

Effect of dilutive securities - contingently issuable shares and stock options
—

 
—

 
—

 
—

Diluted weighted average vested shares and common share equivalents outstanding
71,889,475

 
58,355,127

 
67,975,309

 
56,136,477

Basic earnings per share:
 
 
 
 
 
 
 
Loss from continuing operations available to common stockholders per share
$
(0.08
)
 
$
(0.12
)
 
$
(0.25
)
 
$
(0.28
)
Income from discontinued operations per common share
0.04

 
0.29

 
1.17

 
0.46

Net (loss) income available to common stockholders per share
$
(0.04
)
 
$
0.17

 
$
0.92

 
$
0.18

Diluted earnings per share:
 
 
 
 
 
 
 
Loss from continuing operations available to common stockholders per share
$
(0.08
)
 
$
(0.12
)
 
$
(0.25
)
 
$
(0.28
)
Income from discontinued operations per common share
0.04

 
0.29

 
1.17

 
0.46

Net (loss) income available to common stockholders per share
$
(0.04
)
 
$
0.17

 
$
0.92

 
$
0.18

The impact of the contingently issuable shares, which consist of the 103,238 market measure-based RSUs and the Exchangeable Notes, and the 1,540,000 stock options, were not considered in our diluted earnings per share calculation for the three and nine months ended September 30, 2012 since we reported a loss from continuing operations attributable to common stockholders in the respective period and the effect was anti-dilutive. The impact of stock options and the Exchangeable Notes were not considered in our diluted earnings per share calculation for the three and nine months ended September 30, 2011 since we reported a loss from continuing operations attributable to common stockholders and the effect was anti-dilutive. See Note 5 for additional information regarding the Exchangeable Notes and Note 9 for additional information regarding the outstanding stock options and market measure-based RSUs.