Earnings Per Share

6 Months Ended

Jun. 30, 2020

A portion of the Company's non-vested share-based payment awards are considered participating securities and as such, the Company is required to use the two-class method for the computation of basic and diluted earnings per share. Under the two-class computation method, net losses are not allocated to participating securities unless the holder of the security has a contractual obligation to share in the losses. The non-vested share-based payment awards are not allocated losses as the awards do not have a contractual obligation to share in losses of the Company.

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the three and six months ended June 30, 2020 and 2019:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
BASIC


Net income attributable to common shareholders	$	17,254	$	21,721	$	33,790	$	48,130
Weighted-average number of common shares outstanding - basic	264,785,583		232,635,137		258,911,872		232,587,083

Net income attributable to common shareholders - per common share basic	$	0.07	$	0.09	$	0.13	$	0.21

DILUTED
Net income attributable to common shareholders - basic	$	17,254	$	21,721	$	33,790	$	48,130
Impact of assumed conversions	77		165		184		166
Net income attributable to common shareholders	$	17,331	$	21,886	$	33,974	$	48,296

Weighted-average common shares outstanding - basic	264,785,583		232,635,137		258,911,872		232,587,083
Effect of dilutive securities:

Unvested share-based payment awards and options	1,210,241		129,810		1,185,016		91,637


OP Units	3,092,807		3,534,931		3,120,464		3,542,610

Weighted-average common shares outstanding - diluted	269,088,631		236,299,878		263,217,352		236,221,330


Net income attributable to common shareholders - per common share diluted	$	0.06	$	0.09	$	0.13	$	0.20

For per common share amounts, all incremental shares are considered anti-dilutive for periods that have a loss from continuing operations attributable to common shareholders. In addition, other common share equivalents may be anti-dilutive in certain periods.