XML 44 R28.htm IDEA: XBRL DOCUMENT v3.21.2
EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Schedule of the computation of basic and diluted earnings per common share
The following table sets forth the computation of basic and diluted earnings (loss) per common share for the three and nine months ended September 30, 2021 and 2020 (in thousands, except per share amounts):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2021202020212020
Earnings (loss) per common share - basic and diluted
Numerator
Net income$40,730 $21,411 $104,040 $54,961 
Net income attributable to noncontrolling interests
(10,506)(7,924)(24,260)(24,404)
Net income attributable to National Storage Affiliates Trust
30,224 13,487 79,780 30,557 
Distributions to preferred shareholders
(3,276)(3,275)(9,827)(9,822)
Distributed and undistributed earnings allocated to participating securities
(16)(11)(43)(34)
Net income attributable to common shareholders - basic
26,932 10,201 69,910 20,701 
Effect of assumed conversion of dilutive securities
10,138 — 23,183 — 
Net income attributable to common shareholders - diluted
$37,070 $10,201 $93,093 $20,701 
Denominator
Weighted average shares outstanding - basic
86,257 68,887 78,307 65,643 
Effect of dilutive securities:
Weighted average effect of outstanding forward offering agreement— — 133 — 
Weighted average OP units outstanding
30,103 — 29,940 — 
Weighted average DownREIT OP unit equivalents outstanding
1,925 — 1,925 — 
Weighted average LTIP units outstanding
80 — 101 — 
Weighted average subordinated performance units and DownREIT subordinated performance unit equivalents
21,660 — 20,577 — 
Weighted average shares outstanding - diluted
140,025 68,887 130,983 65,643 
Earnings (loss) per share - basic$0.31 $0.15 $0.89 $0.32 
Earnings (loss) per share - diluted$0.26 $0.15 $0.71 $0.32