Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Earnings Per Share, Basic and Diluted

The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted earnings per share for the years ended December 31, 2019, 2018 and 2017:



	Year Ended
	December 31,
(in thousands, except share data)	2019		2018		2017
Numerator:
Net income attributable to common stockholders - basic	$	70,114	$	62,975	$	25,773
Interest expense attributable to convertible notes ⁽¹⁾	—		10,742		—
Net income attributable to common stockholders - diluted	$	70,114	$	73,717	$	25,773
Denominator:
Weighted average common shares outstanding	52,615,977		43,123,222		43,084,671
Weighted average restricted stock shares	471,418		322,162		150,000
Basic weighted average shares outstanding	53,087,395		43,445,384		43,234,671
Effect of dilutive shares issued in an assumed conversion of the convertible senior notes	—		8,594,613		—
Diluted weighted average shares outstanding	53,087,395		52,039,997		43,234,671
Earnings Per Share
Basic	$	1.32	$	1.45	$	0.60
Diluted	$	1.32	$	1.42	$	0.60

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(1)

Includes a nondiscretionary adjustment for the assumed change in the management fee calculation.