Computation Of Basic And Diluted EPS |
The components of the computation of basic and diluted EPS were as follows: | | | | | | | | | | | | Three Month Period Ended March 31, | | | 2017 | | 2016 | (In thousands except share amounts) | | | | | Net increase (decrease) in shareholders' equity resulting from operations | | $ | 15,278 |
| | $ | (23,200 | ) | Add: Net increase (decrease) in equity resulting from operations attributable to the participating non-controlling interest(1) | | 99 |
| | (147 | ) | Net increase (decrease) in equity resulting from operations related to common shares, LTIP unit holders, and participating non-controlling interest | | 15,377 |
| | (23,347 | ) | 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 | | 15,059 |
| | (22,889 | ) | Net increase (decrease) in shareholders' equity resulting from operations– LTIP Units | | 219 |
| | (311 | ) | Dividends Paid(2): | | | | | Common shareholders | | (14,515 | ) | | (16,541 | ) | LTIP unit holders | | (211 | ) | | (225 | ) | Non-controlling interest | | (95 | ) | | (106 | ) | Total dividends paid to common shareholders, LTIP unit holders, and non-controlling interest | | (14,821 | ) | | (16,872 | ) | Undistributed (Distributed in excess of) earnings: | | | | | Common shareholders | | 544 |
| | (39,430 | ) | LTIP unit holders | | 8 |
| | (536 | ) | Non-controlling interest | | 4 |
| | (253 | ) | Total undistributed (distributed in excess of) earnings attributable to common shareholders, LTIP unit holders, and non-controlling interest | | $ | 556 |
| | $ | (40,219 | ) | Weighted average shares outstanding (basic and diluted): | | | | | Weighted average common shares outstanding | | 32,248,613 |
| | 33,083,682 |
| Weighted average participating LTIP Units | | 469,539 |
| | 449,938 |
| Weighted average non-controlling interest units | | 212,000 |
| | 212,000 |
| Basic earnings per common share: | | | | | Distributed | | $ | 0.45 |
| | $ | 0.50 |
| Undistributed (Distributed in excess of) | | 0.02 |
| | (1.19 | ) | | | $ | 0.47 |
| | $ | (0.69 | ) | Diluted earnings per common share: | | | | | Distributed | | $ | 0.45 |
| | $ | 0.50 |
| Undistributed (Distributed in excess of) | | 0.02 |
| | (1.19 | ) | | | $ | 0.47 |
| | $ | (0.69 | ) |
| | (1) | For the three month periods ended March 31, 2017 and 2016, excludes net increase in equity resulting from operations of $0.4 million and $0.2 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. |
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