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 |
|
|