Earnings Per Share

3 Months Ended

Mar. 31, 2018

NOTE 9: Earnings Per Share

The following table presents a reconciliation of basic and diluted earnings per share for the three months ended March 31, 2018 and 2017:

	For the Three Months Ended March 31,
	2018			2017
Net income	$	3,500		$	4,245
(Income) loss allocated to non-controlling interests		(88	)		(168	)
Net income allocable to common shares		3,412			4,077
Weighted-average shares outstanding—Basic		85,303,010			68,787,155
Weighted-average shares outstanding—Diluted		85,535,089			68,958,786
Earnings per share—Basic	$	0.04		$	0.06
Earnings per share—Diluted	$	0.04		$	0.06

Certain IROP units, stock appreciation rights, or SARs, and unvested restricted shares were excluded from the earnings per share computation because their effect would have been anti-dilutive, totaling 992,680 and 2,916,098 for the three months ended March 31, 2018 and 2017, respectively.