XML 55 R38.htm IDEA: XBRL DOCUMENT v3.6.0.2
Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Computation Of Basic And Diluted EPS
The components of the computation of basic and diluted EPS were as follows:
 
 
Year Ended December 31,
 
 
2016
 
2015
 
2014
(In thousands except share amounts)
 
 
 
 
 
 
Net increase (decrease) in shareholders' equity resulting from operations
 
$
(16,007
)
 
$
38,089

 
$
59,167

Add: Net (decrease) increase in equity resulting from operations attributable to the participating non-controlling interest(1)
 
(101
)
 
239

 
472

Net increase (decrease) in equity resulting from operations related to common shares, LTIP unit holders, and participating non-controlling interest
 
(16,108
)
 
38,328

 
59,639

Net increase (decrease) in shareholders' equity resulting from operations available to common share and LTIP unit holders:
 
 
 
 
 
 
Net increase (decrease) in shareholders' equity resulting from operations– common shares
 
(15,789
)
 
37,604

 
58,306

Net increase (decrease) in shareholders' equity resulting from operations– LTIP Units
 
(218
)
 
485

 
861

Dividends Paid(2):
 
 
 
 
 
 
Common shareholders
 
(63,855
)
 
(81,886
)
 
(84,527
)
LTIP unit holders
 
(880
)
 
(1,054
)
 
(1,269
)
Non-controlling interest
 
(413
)
 
(520
)
 
(653
)
Total dividends paid to common shareholders, LTIP unit holders, and non-controlling interest
 
(65,148
)
 
(83,460
)
 
(86,449
)
Undistributed (Distributed in excess of) earnings:
 
 
 
 
 
 
Common shareholders
 
(79,644
)
 
(44,282
)
 
(26,221
)
LTIP unit holders
 
(1,098
)
 
(569
)
 
(408
)
Non-controlling interest
 
(514
)
 
(281
)
 
(181
)
Total undistributed (distributed in excess of) earnings attributable to common shareholders, LTIP unit holders, and non-controlling interest
 
$
(81,256
)
 
$
(45,132
)
 
$
(26,810
)
Weighted average shares outstanding (basic and diluted):
 
 
 
 
 
 
Weighted average common shares outstanding
 
32,758,050

 
33,422,053

 
27,962,304

Weighted average participating LTIP Units
 
452,436

 
431,640

 
413,105

Weighted average non-controlling interest units
 
212,000

 
212,000

 
212,000

Basic earnings per common share:
 
 
 
 
 
 
Distributed
 
$
1.95

 
$
2.45

 
$
3.08

Undistributed (Distributed in excess of)
 
(2.43
)
 
(1.32
)
 
(0.99
)
 
 
$
(0.48
)
 
$
1.13

 
$
2.09

Diluted earnings per common share:
 
 
 
 
 
 
Distributed
 
$
1.95

 
$
2.45

 
$
3.08

Undistributed (Distributed in excess of)
 
(2.43
)
 
(1.32
)
 
(0.99
)
 
 
$
(0.48
)
 
$
1.13

 
$
2.09

(1)
For the years ended December 31, 2016, 2015, and 2014, excludes net increase in equity resulting from operations of $0.4 million, $0.1 million and $0.3 million, respectively attributable to joint venture partners, which have non-participating interests as described in Note 9.
(2)
The Company pays quarterly dividends in arrears, so a portion of the dividends paid in each calendar year relate to the prior year's earnings.