| 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. |
|