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

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator:
Net income	$	6,907	$	6,588	$	25,236	$	35,271
(Income) loss attributable to noncontrolling interests	18		49		(408)		(1,593)
Preferred stock dividends	(7,045)		(7,045)		(21,135)		(21,135)
Earnings attributable to participating securities	(4,372)		(2,184)		(11,521)		(5,999)
Net income (loss) available to common stockholders after allocation to participating securities	$	(4,492)	$	(2,592)	$	(7,828)	$	6,544
Denominator:
Weighted average shares outstanding - basic	61,036		54,928		59,615		53,874
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	61,036		54,928		59,615		54,337

Basic net income (loss) per share	$	(0.07)	$	(0.05)	$	(0.13)	$	0.12

Diluted net income (loss) per share	$	(0.07)	$	(0.05)	$	(0.13)	$	0.12

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*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 September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
Class A Partnership units	6,658	6,668	6,667	6,670
Class O units, TSR units and options to purchase common stock on an "as if" converted basis	1,176	557	1,126	—
Series B Convertible preferred stock on an "as if" converted basis	6,762	6,729	6,756	6,729