Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2016

NOTE 9: Earnings (Loss) Per Share

The following table presents a reconciliation of basic and diluted earnings (loss) per share for the three and six months ended June 30, 2016 and 2015:

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2016			2015			2016			2015
Net income (loss)	$	30,790		$	353		$	30,744		$	112
(Income) loss allocated to non-controlling interests		(1,803	)		(16	)		(1,832	)		(8	)
Net income (loss) allocable to common shares		28,987			337			28,912			104
Weighted-average shares outstanding—Basic		47,183,804			31,794,822			47,138,573			31,781,718
Weighted-average shares outstanding—Diluted		47,229,736			33,066,770			47,159,220			33,060,578
Earnings (loss) per share—Basic	$	0.61		$	0.01		$	0.61		$	-
Earnings (loss) per share—Diluted	$	0.61		$	0.01		$	0.61		$	-

Certain IROP units, stock appreciation rights, or SARs, and unvested shares were excluded from the earnings (loss) per share computation because their effect would have been anti-dilutive, totaling 2,950,816 and 3,111,201 for the three and six months ended June 30, 2016, respectively, and 0 and 25,989 for the three and six months ended June 30, 2015, respectively.