Earnings per Share

9 Months Ended

Sep. 30, 2016

Earnings per Share [Abstract]

Earnings per Share

10. Earnings per share of QTS Realty Trust, Inc.

Basic income (loss) per share is calculated by dividing the net income (loss) attributable to common shares by the weighted average number of common shares outstanding during the period. Diluted income (loss) per share adjusts basic income (loss) per share for the effects of potentially dilutive common shares.

The computation of basic and diluted net income per share is as follows (in thousands, except per share data, and unaudited):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
Numerator:
Net income available to common stockholders - basic	$	5,730	$	7,009	$	16,719	$	15,723
Effect of net income attributable to noncontrolling interests		808		1,229		2,485		3,072
Net income available to common stockholders - diluted	$	6,538	$	8,238	$	19,204	$	18,795
Denominator:
Weighted average shares outstanding - basic		47,855		40,994		45,651		36,355
Effect of Class A and Class RS partnership units *		6,767		6,932		6,787		7,103
Effect of Class O units and options to purchase Class A common stock on an "as if" converted basis *		1,066		807		982		724
Weighted average shares outstanding - diluted		55,688		48,733		53,420		44,182
Net income per share attributable to common stockholders - basic	$	0.12	$	0.17	$	0.37	$	0.43
Net income per share attributable to common stockholders - diluted	$	0.12	$	0.17	$	0.36	$	0.43

* The Class A units, Class RS units and Class O units represent limited partnership interests in the Operating Partnership, and are described in more detail in Note 7.

No securities were antidilutive for the three months ended September 30, 2016 and 2015, or the nine months ended September 30, 2016 and 2015, and as such, no securities were excluded from the computation of diluted net income per share for those periods.