v3.19.3

Earnings Per Share | 9 Months Ended
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Sep. 30, 2019
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The components of the computation of basic and diluted EPS are as follows:
| Three-Month Period Ended September 30, 2019 |  | Nine-Month Period Ended September 30, 2019
(In thousands except share amounts) |  |  |
Net income (loss) attributable to common stockholders | $ | 17,293 |  |  | $ | 45,345 |
Add: Net income (loss) attributable to Convertible Non-controlling Interests(1) | 387 |  |  | 1,079 |
Net income (loss) related to common stockholders and Convertible Non-controlling Interests | 17,680 |  |  | 46,424 |
Dividends Paid: |  |  |
Common stockholders | (14,185 | ) |  | (43,038 | )
Convertible Non-controlling Interests | (309 | ) |  | (1,021 | )
Total dividends paid to common stockholders and Convertible Non-controlling Interests | (14,494 | ) |  | (44,059 | )
Undistributed (Distributed in excess of) earnings: |  |  |
Common stockholders | 3,108 |  |  | 2,307 |
Convertible Non-controlling Interests | 78 |  |  | 58 |
Total undistributed (distributed in excess of) earnings attributable to common stockholders and Convertible Non-controlling Interests | $ | 3,186 |  |  | $ | 2,365 |
Weighted average shares outstanding (basic and diluted): |  |  |
Weighted average shares of common stock outstanding | 32,835,652 |  |  | 30,787,634 |
Weighted average Convertible Non-controlling Interest Units outstanding | 735,789 |  |  | 734,186 |
Weighted average shares of common stock and Convertible Non-controlling Interest Units outstanding | 33,571,441 |  |  | 31,521,820 |
Basic earnings per share of common stock and Convertible Non-controlling Interest Unit: |  |  |
Distributed | $ | 0.42 |  |  | $ | 1.39 |
Undistributed (Distributed in excess of) | 0.11 |  |  | 0.08 |
| $ | 0.53 |  |  | $ | 1.47 |
Diluted earnings per share of common stock and Convertible Non-controlling Interest Unit: |  |  |
Distributed | $ | 0.42 |  |  | $ | 1.39 |
Undistributed (Distributed in excess of) | 0.11 |  |  | 0.08 |
| $ | 0.53 |  |  | $ | 1.47 |
(1) | For the three- and nine-month periods ended September 30, 2019, excludes net income (loss) of $1.0 million and $2.4 million, respectively, attributable to joint venture partners, which have non-participating interests as described in Note 15.
Earnings Per Share The components of the computation of basic and diluted EPS were as follows:
|  | Three-Month Period Ended September 30, 2018 |  | Nine-Month Period Ended September 30, 2018
(In thousands except share amounts) |  |  |  |
Net increase in shareholders' equity resulting from operations |  | $ | 6,661 |  |  | $ | 48,892 |
Add: Net increase in equity resulting from operations attributable to the participating non-controlling interest(1) |  | 46 |  |  | 335 |
Net increase in equity resulting from operations related to common shares, LTIP Unit holders, and participating non-controlling interest |  | 6,707 |  |  | 49,227 |
Net increase in shareholders' equity resulting from operations available to common share and LTIP Unit holders: |  |  |  |
Net increase in shareholders' equity resulting from operations– common shares |  | 6,553 |  |  | 48,111 |
Net increase in shareholders' equity resulting from operations– LTIP Units |  | 108 |  |  | 781 |
Dividends Paid(2): |  |  |  |
Common shareholders |  | (12,362 | ) |  | (37,285 | )
LTIP Unit holders |  | (202 | ) |  | (606 | )
Non-controlling interest |  | (87 | ) |  | (261 | )
Total dividends paid to common shareholders, LTIP Unit holders, and non-controlling interest |  | (12,651 | ) |  | (38,152 | )
Undistributed (Distributed in excess of) earnings: |  |  |  |
Common shareholders |  | (5,809 | ) |  | 10,826 |
LTIP Unit holders |  | (94 | ) |  | 175 |
Non-controlling interest |  | (41 | ) |  | 74 |
Total undistributed (distributed in excess of) earnings attributable to common shareholders, LTIP Unit holders, and non-controlling interest |  | $ | (5,944 | ) |  | $ | 11,075 |
Weighted average shares outstanding (basic and diluted): |  |  |  |
Weighted average common shares outstanding |  | 30,151,753 |  |  | 30,392,390 |
Weighted average participating LTIP Units |  | 495,212 |  |  | 493,257 |
Weighted average non-controlling interest units |  | 212,000 |  |  | 212,000 |
Basic earnings per common share: |  |  |  |
Distributed |  | $ | 0.41 |  |  | $ | 1.23 |
Undistributed (Distributed in excess of) |  | (0.19 | ) |  | 0.35 |
|  | $ | 0.22 |  |  | $ | 1.58 |
Diluted earnings per common share: |  |  |  |
Distributed |  | $ | 0.41 |  |  | $ | 1.23 |
Undistributed (Distributed in excess of) |  | (0.19 | ) |  | 0.35 |
|  | $ | 0.22 |  |  | $ | 1.58 |
(1) | For the three- and nine-month periods ended September 30, 2018, excludes net increase (decrease) in equity resulting from operations of $0.8 million and $1.8 million 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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