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Earnings Per Share
6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share

6. Earnings Per Share

Basic earnings or loss per share of common stock (“EPS”) is calculated by dividing net income or loss attributable to common stockholders by the weighted average shares of common stock outstanding for the periods presented. Diluted EPS is computed after adjusting the basic EPS computation for the effect of dilutive common equivalent shares outstanding during the periods presented. Unvested restricted shares and LTIP units are considered participating securities which require the use of the two-class method for the computation of basic and diluted earnings per share. The following table sets forth the computation of the Company’s basic and diluted earnings per share of common stock for the three and six months ended June 30, 2016 and 2015 (amounts in thousands, except per share amounts):

 

 

 

For the three months ended June 30,

 

 

For the six months ended June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

1,037

 

 

$

965

 

 

$

2,146

 

 

$

(7,036

)

Less: Non-controlling interest in Operating Partnership

 

 

(338

)

 

 

(377

)

 

 

(772

)

 

 

4,739

 

Net income (loss) available to Easterly Government

   Properties, Inc.

 

 

699

 

 

 

588

 

 

 

1,374

 

 

 

(2,297

)

Less: Dividends on participating securities

 

 

(25

)

 

 

(13

)

 

 

(51

)

 

 

(13

)

Net income (loss) available to common stockholders

 

$

674

 

 

$

575

 

 

$

1,323

 

 

$

(2,310

)

Denominator for basic EPS

 

 

27,484,075

 

 

 

24,141,712

 

 

 

25,812,893

 

 

 

18,673,374

 

Dilutive effect of share-based compensation awards

 

 

11,629

 

 

 

8,272

 

 

 

12,753

 

 

 

 

Dilutive effect of LTIP units

 

 

1,638,738

 

 

 

1,285,026

 

 

 

1,625,785

 

 

 

 

Dilutive effect of forward shares

 

 

132,816

 

 

 

 

 

 

86,992

 

 

 

 

Denominator for diluted EPS

 

 

29,267,258

 

 

 

25,435,010

 

 

 

27,538,423

 

 

 

18,673,374

 

Basic EPS

 

$

0.02

 

 

$

0.02

 

 

$

0.05

 

 

$

(0.12

)

Diluted EPS

 

$

0.02

 

 

$

0.02

 

 

$

0.05

 

 

$

(0.12

)