Earnings per share of QTS Realty Trust, Inc. (Tables)

3 Months Ended

Mar. 31, 2019

Summary of Basic and Diluted Earnings Per Share

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,
	2019		2018
Numerator:
Net income (loss)	$	21,148	$	(252)
Loss (income) attributable to noncontrolling interests		(1,590)		29
Preferred stock dividends		(7,045)		(328)
Earnings attributable to participating securities		(1,935)		(258)
Net income (loss) available to common stockholders after allocation of participating securities	$	10,578	$	(809)
Denominator:
Weighted average shares outstanding - basic		51,948		50,279
Effect of Class O units, TSR units and options to purchase Class A common stock on an "as if" converted basis		347		—
Weighted average shares outstanding - diluted		52,295		50,279

Basic net income (loss) per share	$	0.20	$	(0.02)

Diluted net income (loss) per share	$	0.20	$	(0.02)

Note: The table above does not include Class A partnership units of 6.7 million and 6.6 million for the three months ended March 31, 2019, and 2018, respectively, as their inclusion would have been antidilutive. Also does not include 0.5 million reflecting the effects of Class O units and options to purchase common stock on an "as if" converted basis for the three months ended March 31, 2018, and 6.7 million reflecting the effects of Series B Convertible preferred stock on an “as if” converted basis for the three months ended March 31, 2019, as their respective inclusion would have also been antidilutive.