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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following is a summary of the basic and diluted net income per share computation for the periods presented:

		Three Months Ended September 30,								Nine Months Ended September 30,
(In thousands, except share and per share data)		2018				2017				2018				2017
Net (loss) income attributable to common stockholders		$	177			$	2,104			$	7,826			$	14,733
Adjustments to net (loss) income attributable to common stockholders for common share equivalents		(316		)		(186		)		(526		)		(556		)
Adjusted net (loss) income attributable to common stockholders		$	(139	)		$	1,918			$	7,300			$	14,177
Basic and diluted net (loss) income per share attributable to common stockholders		$	—			$	0.03			$	0.11			$	0.21
Weighted average shares outstanding:
Basic		69,441,639				67,286,615				68,014,855				66,739,723
Diluted		69,441,639				67,286,615				68,417,253				66,739,723

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table shows common share equivalents on a weighted average basis that were excluded from the calculation of diluted earnings per share for the three and nine months ended September 30, 2018 and 2017:

		Three Months Ended September 30,						Nine Months Ended September 30,
		2018			2017			2018			2017
Unvested restricted shares		46,767			49,527			—			49,527
OP Units (1)		—			—			—			61,280
LTIP Units (2)		2,110,594			3,013,933			355,631			3,013,933
Total anti-dilutive common share equivalents		2,157,361			3,063,460			355,631			3,124,740

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⁽¹⁾  On April 3, 2017, all remaining OP Units were converted into Common Stock.

⁽²⁾  Weighted-average number of LTIP Units outstanding. There were 2,554,930 LTIP Units issued and outstanding under the 2018 OPP as of September 30, 2018. The 3,013,933 LTIP Units issued under the 2015 OPP were forfeited as of June 2, 2018 since no LTIP Units were earned under the 2015 OPP. See Note 12 — Share Based Compensation for additional information on the 2018 OPP and 2015 OPP.

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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