Earnings per share of QTS Realty Trust, Inc.

9 Months Ended

Sep. 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				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Numerator:
Net income available to common stockholders - basic	$	6,507	$	5,730	$	15,424	$	16,719
Effect of net income attributable to noncontrolling interests and income allocated to participating securities		684		808		1,496		2,485
Net income available to common stockholders	$	7,191	$	6,538	$	16,920	$	19,204
Denominator:
Weighted average shares outstanding - basic		48,714		47,855		47,862		45,651
Effect of Class A and Class RS partnership units		6,669		6,767		6,744		6,787
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 *		788		1,066		799		982
Weighted average shares outstanding - diluted		56,171		55,688		55,405		53,420
Basic net income per share	$	0.13	$	0.12	$	0.31	$	0.37
Diluted net income per share	$	0.13	$	0.12	$	0.31	$	0.36

* The Class A 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 nine months ended September 30, 2017 and 2016, and as such, no securities were excluded from the computation of diluted net income per share for those periods.