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

6 Months Ended

Jun. 30, 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				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Numerator:
Net income (loss)	$	7,535	$	(6,433)	$	28,683	$	(6,685)
Loss (income) attributable to noncontrolling interests		(52)		1,002		(1,642)		1,031
Preferred stock dividends		(7,045)		(2,248)		(14,090)		(2,576)
Earnings attributable to participating securities		(1,880)		(227)		(3,814)		(485)
Net income (loss) available to common stockholders after allocation of participating securities	$	(1,442)	$	(7,906)	$	9,137	$	(8,715)
Denominator:
Weighted average shares outstanding - basic		54,713		50,542		53,338		50,366
Effect of Class O units and options to purchase Class A common stock on an "as if" converted basis		—		—		416		—
Weighted average shares outstanding - diluted		54,713		50,542		53,754		50,366

Basic net income (loss) per share	$	(0.03)	$	(0.16)	$	0.17	$	(0.17)

Diluted net income (loss) per share	$	(0.03)	$	(0.16)	$	0.17	$	(0.17)

Note: The calculations of basic and diluted net income (loss) per share above do not include the following number of Class A partnership units, Class O units, TSR units and options to purchase common stock on an “as if” converted basis, and the effects of Series B Convertible preferred stock on an “as if” converted basis as their respective inclusions would have been antidilutive:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Class A Partnership units		6,669		6,677		6,671		6,629
Class O units, TSR units and options to purchase common stock on an "as if" converted basis		495		204		—		373
Series B Convertible preferred stock on an "as if" converted basis		6,729		443		6,729		223