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

9 Months Ended

Sep. 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				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Numerator:
Net income (loss)	$	6,588	$	(6,892)	$	35,271	$	(13,577)
Loss (income) attributable to noncontrolling interests		49		1,610		(1,593)		2,641
Preferred stock dividends		(7,045)		(7,045)		(21,135)		(9,621)
Earnings attributable to participating securities		(2,184)		(206)		(5,999)		(743)
Net income (loss) available to common stockholders after allocation of participating securities	$	(2,592)	$	(12,533)	$	6,544	$	(21,300)
Denominator:
Weighted average shares outstanding - basic		54,928		50,469		53,874		50,401
Effect of Class O units, TSR units and options to purchase Class A common stock on an "as if" converted basis		—		—		463		—
Weighted average shares outstanding - diluted		54,928		50,469		54,337		50,401

Basic net income (loss) per share	$	(0.05)	$	(0.25)	$	0.12	$	(0.42)

Diluted net income (loss) per share	$	(0.05)	$	(0.25)	$	0.12	$	(0.42)

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				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Class A Partnership units		6,668		6,677		6,670		6,645
Class O units, TSR units and options to purchase common stock on an "as if" converted basis		557		363		—		375
Series B Convertible preferred stock on an "as if" converted basis		6,729		6,725		6,729		2,412