Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2017

Schedule of reconciliation of the 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 June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
Numerator for basic and diluted earnings per share:
Net income	$	9,993		$	12,459		$	12,879		$	15,743
Less net income attributable to non-controlling interests	(21		)	(18		)	(42		)	(16		)
Less earnings allocated to unvested restricted stock (a)	(332		)	(436		)	(533		)	(554		)

Net income available for common stockholders, basic and diluted	$	9,640		$	12,005		$	12,304		$	15,173


Denominator for basic earnings per share:
Weighted average common shares	17,824			16,579			17,788			16,484
Effect of diluted securities:
Restricted stock units awarded under Pay-for-Performance program	114			107			114			107
Denominator for diluted earnings per share:

Weighted average shares	17,938			16,686			17,902			16,591


Earnings per common share, basic	$	.54		$	.72		$	.69		$	.92

Earnings per common share, diluted	$	.54		$	.72		$	.69		$	.91


Net income attributable to One Liberty Properties, Inc. common stockholders, net of non-controlling interests	$	9,972		$	12,441		$	12,837		$	15,727

(a)

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