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Net Income per Share (Tables)
3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Basic and Diluted Net (Loss) Income per Share of Common Stock Using Two-Class Method

The table below presents basic and diluted net (loss) income per share of common stock using the two-class method for the three months ended March 31, 2013 and 2012:

 

     For the three
months ended
March 31, 2013
    For the three
months ended
March 31, 2012
 

Numerator:

    

Net income

   $ 11,932      $ 9,093   

Preferred dividends

     (1,860     —     
  

 

 

   

 

 

 

Net income available to common stockholders

     10,072        9,093   
  

 

 

   

 

 

 

Dividends declared on common stock

     (14,748     (8,224

Dividends on participating securities

     (195     (168
  

 

 

   

 

 

 

Net income (loss) attributable to common stockholders

   $ (4,871   $ 701   
  

 

 

   

 

 

 

Denominator:

    

Weighted average shares of common stock outstanding

     30,105,939        20,966,426   

Basic and diluted net income (loss) per weighted average share of common stock

    

Distributable Earnings

   $ 0.49      $ 0.40   

Undistributed income (loss)

   $ (0.16   $ 0.03   
  

 

 

   

 

 

 

Basic and diluted net income (loss) per share of common stock

   $ 0.33      $ 0.43