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

3 Months Ended

Mar. 31, 2020

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,
	2020		2019
Numerator:
Net income	$	8,120	$	21,148
Income attributable to noncontrolling interests		(110)		(1,590)
Preferred stock dividends		(7,045)		(7,045)
Earnings attributable to participating securities		(1,596)		(1,935)
Net income (loss) available to common stockholders after allocation to participating securities	$	(631)	$	10,578
Denominator:
Weighted average shares outstanding - basic		58,038		51,948
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		58,038		52,295

Basic net income (loss) per share	$	(0.01)	$	0.20

Diluted net income (loss) per share	$	(0.01)	$	0.20

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
	March 31,
	2020		2019
Class A Partnership units		6,671		6,674
Class O units, TSR units and options to purchase common stock on an "as if" converted basis		655		—
Series B Convertible preferred stock on an "as if" converted basis		6,749		6,729