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

6 Months Ended

Jun. 30, 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				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Numerator:
Net income	$	10,209	$	7,535	$	18,329	$	28,683
Income attributable to noncontrolling interests		(317)		(52)		(427)		(1,642)
Preferred stock dividends		(7,045)		(7,045)		(14,090)		(14,090)
Earnings attributable to participating securities		(5,552)		(1,880)		(7,148)		(3,814)
Net income (loss) available to common stockholders after allocation to participating securities	$	(2,705)	$	(1,442)	$	(3,336)	$	9,137
Denominator:
Weighted average shares outstanding - basic		59,773		54,713		58,900		53,338
Effect of Class O units, TSR units and options to purchase Class A common stock on an "as if" converted basis		—		—		—		416
Weighted average shares outstanding - diluted		59,773		54,713		58,900		53,754

Basic net income (loss) per share	$	(0.05)	$	(0.03)	$	(0.06)	$	0.17

Diluted net income (loss) per share	$	(0.05)	$	(0.03)	$	(0.06)	$	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,
	2020		2019		2020		2019
Class A Partnership units		6,671		6,669		6,671		6,671
Class O units, TSR units and options to purchase common stock on an "as if" converted basis		1,131		495		1,066		—
Series B Convertible preferred stock on an "as if" converted basis		6,756		6,729		6,753		6,729