Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of reconciliation of numerator and denominator of earnings per share calculations

The following table provides a reconciliation of the numerator and denominator of earnings per share calculations (amounts in thousands, except per share amounts):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Numerator for basic and diluted earnings per share:
Net income	$	4,323		$	3,791		$	20,067		$	16,712
Less net income attributable to non-controlling interests	(24		)	(3		)	(40		)	(1,386		)
Less earnings allocated to unvested restricted stock (a)	(248		)	(210		)	(744		)	(631		)

Net income available for common stockholders, basic and diluted	$	4,051		$	3,578		$	19,283		$	14,695


Denominator for basic earnings per share:
Weighted average common shares	16,845			16,014			16,605			15,892
Effect of diluted securities:
Restricted stock units awarded under Pay-for-Performance program	117			100			117			100

Denominator for diluted earnings per share:

Weighted average shares	16,962			16,114			16,722			15,992


Earnings per common share, basic	$	.24		$	.22		$	1.16		$	.92

Earnings per common share, diluted	$	.24		$	.22		$	1.15		$	.92


Net income attributable to One Liberty Properties, Inc. common stockholders, net of non-controlling interests	$	4,299		$	3,788		$	20,027		$	15,326

(a)

Represents an allocation of distributed earnings to unvested restricted stock which, as participating securities, are entitled to receive dividends.