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Earnings Per Share
9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The two class method is used to determine earnings per share because unvested restricted shares and unvested LTIP units are considered to be participating shares. Unvested restricted shares and unvested LTIP units that could potentially dilute basic earnings per share in the future would not be included in the computation of diluted loss per share, for the periods where a loss has been recorded, because they would have been anti-dilutive for the periods presented. The following is a reconciliation of the amounts used in calculating basic and diluted net income (loss) per share (in thousands, except share and per share data):
 
For the three months ended
 
For the nine months ended
 
September 30,
 
September 30,
 
2015
 
2014
 
2015
 
2014
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareholders
$
14,315

 
$
8,700

 
$
28,476

 
$
72,174

Dividends paid on unvested shares and units
(55
)
 
(36
)
 
(107
)
 
(181
)
Net income attributable to common shareholders
$
14,260

 
$
8,664

 
$
28,369

 
$
71,993

Denominator:
 
 
 
 
 
 
 
Weighted average number of common shares - basic
38,212,028

 
27,370,815

 
37,818,340

 
26,697,483

Effect of dilutive securities:
 
 
 
 
 
 
 
Unvested shares
402,332

 
324,532

 
403,600

 
297,174

Weighted average number of common shares - diluted
38,614,360

 
27,695,347

 
38,221,940

 
26,994,657

Basic income per Common Share:
 
 
 
 
 
 
 
Net income attributable to common shareholders per weighted average basic common share
$
0.37

 
$
0.32

 
$
0.75

 
$
2.70

Diluted income per Common Share:
 
 
 
 
 
 
 
Net income attributable to common shareholders per weighted average diluted common share
$
0.37

 
$
0.31

 
$
0.74

 
$
2.67