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Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Reconciliation of Net Income (Loss) and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS

The following table provides a reconciliation of net income (loss) and the number of common shares used in the computations of “basic” earnings per share (“EPS”), which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts).  Further, all per share amounts and average shares outstanding have been restated to reflect the May 2018 reverse stock split.

 

 

Three Months

 

 

Ended March 31,

 

 

2019

 

 

2018

 

Numerators Basic and Diluted

 

 

 

 

 

 

 

Net income (loss)

$

36,095

 

 

$

(53,897

)

Plus: Income attributable to non-controlling interests

 

(305

)

 

 

(256

)

Less: Preferred dividends

 

(8,383

)

 

 

(8,383

)

Less: Earnings attributable to unvested shares and operating

   partnership units

 

(172

)

 

 

(203

)

Net income (loss) attributable to common shareholders after

   allocation to participating securities

$

27,235

 

 

$

(62,739

)

Denominators Number of Shares

 

 

 

 

 

 

 

BasicAverage shares outstanding

 

180,546

 

 

 

184,560

 

Assumed conversion of diluted securities

 

545

 

 

 

 

DilutedAverage shares outstanding

 

181,091

 

 

 

184,560

 

Earnings (Loss) Per Share:

 

 

 

 

 

 

 

Basic

$

0.15

 

 

$

(0.34

)

Diluted

$

0.15

 

 

$

(0.34

)