Earnings per share of QTS Realty Trust, Inc.

3 Months Ended

Mar. 31, 2017

Earnings per Share [Abstract]

Earnings per Share

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

Basic income per share is calculated by dividing the net income attributable to common shares by the weighted average number of common shares outstanding during the period. Diluted income per share adjusts basic income 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
	March 31,
	2017		2016
Numerator:
Net income available to common stockholders - basic	$	4,877	$	5,889
Effect of net income attributable to noncontrolling interests		691		970
Net income available to common stockholders - diluted	$	5,568	$	6,859
Denominator:
Weighted average shares outstanding - basic		47,909		41,292
Effect of Class A and Class RS partnership units *		6,783		6,801
Effect of Class O units and options to purchase Class A common stock on an "as if" converted basis *		928		881
Weighted average shares outstanding - diluted		55,620		48,974
Net income per share attributable to common stockholders - basic	$	0.10	$	0.14
Net income per share attributable to common stockholders - diluted	$	0.10	$	0.14

* 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 8.

The computation of diluted net income per share for the three months ended March 31, 2017 does not include 468,875 options with an exercise price of $50.66 as their inclusion would have been antidilutive for that period. The computation of diluted net income per share for the three months ended March 31, 2016 does not include 229,693 options with an exercise price of $45.78 as their inclusion would have been antidilutive for that period.