Equity (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of dividends declared by the Company (on a per share basis)

Dividends declared (on a per share basis) during the nine months ended September 30, 2018 were as follows:


Common Stock			Preferred Stock
				Dividend (1)
Declaration Date	Dividend		Declaration Date	Series A		Series B		Series C
February 21, 2018	$	0.21	February 2, 2018	$	0.515625	$	0.484375	$	0.53125
May 2, 2018	$	0.25	May 2, 2018	$	0.515625	$	0.484375	$	0.53125
August 1, 2018	$	0.25	August 1, 2018	$	0.515625	$	0.484375	$	0.53125

(1)

The dividend declared on August 1, 2018 was for June 1, 2018 through August 31, 2018, the dividend declared on May 2, 2018 was for March 1, 2018 through May 31, 2018 and the dividend declared on February 2, 2018 was for December 1, 2017 through February 28, 2018.

Schedule of reconciliation of the numerator and denominator of the basic and diluted EPS computations

The following tables reconcile the numerator and denominator of our basic and diluted EPS computations ($ in thousands, except share and per share data):


	Three Months Ended September 30,
	2018				2017
	Basic		Diluted		Basic		Diluted
Net income attributable to common stockholders (1)	$	27,737	$	27,737	$	16,421	$	16,421
Net income attributable to noncontrolling interest (2)		—		7,799		—		5,662
Net income attributable to common stockholders and noncontrolling interest	$	27,737	$	35,536	$	16,421	$	22,083

Weighted average shares outstanding		74,802,582		74,802,582		61,582,796		61,582,796
Dilutive effect of OP Units (2)		—		21,023,735		—		21,230,769
Dilutive effect of restricted stock units (3)		—		1,559,217		—		1,104,552
Dilutive effect of convertible notes (4)		—		1,050,430		—		—
Weighted average shares outstanding		74,802,582		98,435,964		61,582,796		83,918,117

Net income per common share (1)	$	0.37	$	0.36	$	0.27	$	0.26


	Nine Months Ended September 30,
	2018				2017
Net income attributable to common stockholders (1)	$	71,093	$	71,093	$	43,964	$	43,964
Net income attributable to noncontrolling interest (2)		—		22,347		—		16,597
Net income attributable to common stockholders and noncontrolling interest	$	71,093	$	93,440	$	43,964	$	60,561
Weighted average shares outstanding		67,490,132		67,490,132		56,602,504		56,602,504
Dilutive effect of OP Units (2)		—		21,160,999		—		21,230,769
Dilutive effect of restricted stock units (3)		—		1,441,264		—		1,077,178
Dilutive effect of convertible notes (4)		—		1,041,212		—		32,468
Weighted average shares outstanding		67,490,132		91,133,607		56,602,504		78,942,919

Net income per common share (1)	$	1.05	$	1.03	$	0.78	$	0.77

(1)

Net of preferred stock dividends.

(2)

We consider OP Units to be common stock equivalents as the holders have voting rights, the right to distributions and the right to redeem the OP Units for the cash value of a corresponding number of shares of common stock or a corresponding number of shares of common stock, at our election.

(3)

Mr. Kaufman is granted restricted stock units annually, which vest at the end of a four-year performance period based upon our achievement of total stockholder return objectives.

(4)

The convertible senior unsecured notes impact diluted earnings per share if the average price of our common stock exceeds the conversion price, as calculated in accordance with the terms of the indenture.