| Computation Of Basic And Diluted EPS |
The components of the computation of basic and diluted EPS were as follows: | | | | | | | | | | | | | | | | | | | | Three-Month Period Ended June 30, | | Six-Month Period Ended June 30, | | | 2018 | | 2017 | | 2018 | | 2017 | (In thousands except share amounts) | | | | | | | | | Net increase (decrease) in shareholders' equity resulting from operations | | $ | 21,193 |
| | $ | 5,064 |
| | $ | 42,232 |
| | $ | 20,342 |
| Add: Net increase (decrease) in equity resulting from operations attributable to the participating non-controlling interest(1) | | 146 |
| | 33 |
| | 289 |
| | 132 |
| Net increase (decrease) in equity resulting from operations related to common shares, LTIP Unit holders, and participating non-controlling interest | | 21,339 |
| | 5,097 |
| | 42,521 |
| | 20,474 |
| Net increase (decrease) in shareholders' equity resulting from operations available to common share and LTIP Unit holders: | | | | | | | | | Net increase (decrease) in shareholders' equity resulting from operations– common shares | | 20,853 |
| | 4,991 |
| | 41,561 |
| | 20,049 |
| Net increase (decrease) in shareholders' equity resulting from operations– LTIP Units | | 340 |
| | 73 |
| | 671 |
| | 293 |
| Dividends Paid(2): | | | | | | | | | Common shareholders | | (12,361 | ) | | (14,451 | ) | | (24,923 | ) | | (28,965 | ) | LTIP Unit holders | | (202 | ) | | (211 | ) | | (404 | ) | | (423 | ) | Non-controlling interest | | (87 | ) | | (95 | ) | | (174 | ) | | (191 | ) | Total dividends paid to common shareholders, LTIP Unit holders, and non-controlling interest | | (12,650 | ) | | (14,757 | ) | | (25,501 | ) | | (29,579 | ) | Undistributed (Distributed in excess of) earnings: | | | | | | | | | Common shareholders | | 8,492 |
| | (9,460 | ) | | 16,638 |
| | (8,916 | ) | LTIP Unit holders | | 138 |
| | (138 | ) | | 267 |
| | (130 | ) | Non-controlling interest | | 59 |
| | (62 | ) | | 115 |
| | (59 | ) | Total undistributed (distributed in excess of) earnings attributable to common shareholders, LTIP Unit holders, and non-controlling interest | | $ | 8,689 |
| | $ | (9,660 | ) | | $ | 17,020 |
| | $ | (9,105 | ) | Weighted average shares outstanding (basic and diluted): | | | | | | | | | Weighted average common shares outstanding | | 30,202,262 |
| | 32,117,492 |
| | 30,514,702 |
| | 32,182,690 |
| Weighted average participating LTIP Units | | 492,882 |
| | 469,539 |
| | 492,263 |
| | 469,539 |
| Weighted average non-controlling interest units | | 212,000 |
| | 212,000 |
| | 212,000 |
| | 212,000 |
| Basic earnings per common share: | | | | | | | | | Distributed | | $ | 0.41 |
| | $ | 0.45 |
| | $ | 0.82 |
| | $ | 0.90 |
| Undistributed (Distributed in excess of) | | 0.28 |
| | (0.29 | ) | | 0.54 |
| | (0.28 | ) | | | $ | 0.69 |
| | $ | 0.16 |
| | $ | 1.36 |
| | $ | 0.62 |
| Diluted earnings per common share: | | | | | | | | | Distributed | | $ | 0.41 |
| | $ | 0.45 |
| | $ | 0.82 |
| | $ | 0.90 |
| Undistributed (Distributed in excess of) | | 0.28 |
| | (0.29 | ) | | 0.54 |
| | (0.28 | ) | | | $ | 0.69 |
| | $ | 0.16 |
| | $ | 1.36 |
| | $ | 0.62 |
|
| | (1) | For the three-month periods ended June 30, 2018 and 2017, excludes net increase (decrease) in equity resulting from operations of $0.8 million and $0.3 million, respectively, attributable to joint venture partners, which have non-participating interests as described in Note 9. For the six-month periods ended June 30, 2018 and 2017, excludes net increase (decrease) in equity resulting from operations of $1.0 million and $0.7 million, respectively attributable to joint venture partners, which have non-participating interests as described in Note 11. |
| | (2) | The Company pays quarterly dividends in arrears, so a portion of the dividends paid in each calendar year relate to the prior year's earnings. |
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