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Earnings Per Share
 9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Earnings Per Share
11. EARNINGS PER SHARE
We use the two-class method of computing earnings per share (“EPS”), which is an earnings allocation formula that determines EPS for common stock and any participating securities according to dividends declared (whether paid or unpaid). Under the two-class method, basic EPS is computed by dividing Net Loss Attributable to Stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted EPS reflects the potential dilution that could occur from share equivalent activity.

OP units held by limited partners other than us are considered to be participating securities because they contain non-forfeitable rights to dividends or dividend equivalents, and have the potential to be exchanged for an equal number of shares of our common stock in accordance with the terms of the Partnership Agreement.
The impact of OP units on basic and diluted EPS has been calculated using the two-class method whereby earnings are allocated to the OP units based on dividends declared and the units’ participation rights in undistributed earnings. The effects of the two-class method on basic and diluted EPS were immaterial to the consolidated financial statements as of September 30, 2018 and 2017.
The following table provides a reconciliation of the numerator and denominator of the earnings per share calculations for the three and nine months ended September 30, 2018 and 2017 (in thousands, except per share amounts):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Numerator:
 
 
 
 
 
 
 
Net loss attributable to stockholders - basic
$
(13,228
)
 
$
(8,232
)
 
$
(26,179
)
 
$
(8,319
)
Net loss attributable to convertible OP units(1)
(3,180
)
 
(144
)
 
(6,270
)
 
(144
)
Net loss attributable to stockholders and convertible noncontrolling interests - diluted
$
(16,408
)
 
$
(8,376
)
 
$
(32,449
)
 
$
(8,463
)
Denominator:
 
 
 
 
 
 
 
Weighted-average shares - basic
183,699

 
183,843

 
184,676

 
183,402

OP units(1)
44,453


2,649

 
44,453

 
2,739

Adjusted weighted-average shares - diluted
228,152

 
186,492

 
229,129

 
186,141

Earnings per common share:
 
 
 
 
 
 
 
Net loss attributable to stockholders -
   basic and diluted
$
(0.07
)
 
$
(0.04
)
 
$
(0.14
)
 
$
(0.05
)
(1) OP units include units previously issued for asset management services provided under our former advisory agreement (see Note 13), as well as units issued as part of the PELP transaction (Note 4), all of which are convertible into common stock. The Operating Partnership loss attributable to these OP units, which is included as a component of Net Income Attributable to Noncontrolling Interests on the consolidated statements of operations, has been added back in the numerator as these OP units were included in the denominator for all years presented.
As of September 30, 2018, approximately 1.0 million unvested restricted stock awards granted to employees and directors were outstanding. These securities were anti-dilutive and, as a result, were excluded from the weighted-average common shares used to calculate diluted EPS. The unvested restricted stock awards outstanding at September 30, 2017, were immaterial. There were 2.7 million unvested Class B units outstanding as of September 30, 2017. As these units were unvested, they were not included in the diluted earnings per share calculation. We had no unvested Class B units outstanding as of September 30, 2018.