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Earnings Per Share
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 8: Earnings Per Share

The following table presents a reconciliation of basic and diluted earnings per share for the three and nine months ended September 30, 2019 and 2018:

 

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Net income

 

$

4,912

 

 

$

4,836

 

 

$

22,334

 

 

$

11,881

 

Income allocated to noncontrolling interest

 

 

(49

)

 

 

(49

)

 

 

(222

)

 

 

(173

)

Net income allocable to common shares

 

 

4,863

 

 

 

4,787

 

 

 

22,112

 

 

 

11,708

 

Weighted-average shares outstanding—Basic

 

 

90,027,540

 

 

 

87,702,078

 

 

 

89,513,834

 

 

 

86,559,294

 

Weighted-average shares outstanding—Diluted

 

 

90,691,368

 

 

 

88,046,311

 

 

 

90,234,840

 

 

 

86,818,337

 

Earnings per share—Basic

 

$

0.05

 

 

$

0.05

 

 

$

0.25

 

 

$

0.14

 

Earnings per share—Diluted

 

$

0.05

 

 

$

0.05

 

 

$

0.25

 

 

$

0.13

 

 

Certain IROP units and unvested shares were excluded from the earnings per share computation because their effect would have been anti-dilutive, totaling 881,107 for the three and nine months ended September 30, 2019, and 881,107 and 962,066 for the three and nine months ended September 30, 2018, respectively.