Earnings per share of QTS Realty Trust, Inc.

6 Months Ended

Jun. 30, 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				Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Numerator:
Net income available to common stockholders - basic	$	4,040	$	5,100	$	8,917	$	10,989
Effect of net income attributable to noncontrolling interests and income allocated to participating securities		356		707		814		1,677
Net income available to common stockholders	$	4,396	$	5,807	$	9,731	$	12,666
Denominator:
Weighted average shares outstanding - basic		47,666		47,783		47,562		44,538
Effect of Class A and Class RS partnership units		6,783		6,794		6,783		6,797
Effect of Class O units and options to purchase Class A common stock and restricted Class A common stock on an "as if" converted basis *		1,009		998		991		939
Weighted average shares outstanding - diluted		55,458		55,575		55,336		52,274
Basic net income per share	$	0.08	$	0.11	$	0.18	$	0.25
Diluted net income per share	$	0.08	$	0.10	$	0.17	$	0.24

* 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.

No securities were antidilutive for the three and six months ended June 30, 2017 and 2016, and as such, no securities were excluded from the computation of diluted net income per share for those periods.