EARNINGS PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of impact to the diluted weighted average number of shares of common stock related to the RSUs

Year Ended

December 31, 2018

December 31, 2017

Return on

Capital

Stockholder

Capital

Stockholder

Date of Award and Total Number of Underlying Shares

metric

Return metric

Total

metric

Return metric

Total

September 26, 2017

76,250 shares(a)

34,633

4,462

39,095

33,353

38,125

71,478

July 1, 2018

76,250 shares(b)

33,388

—

33,388

n/a

68,021

4,462

72,483

33,353

38,125

71,478

(a)

Includes shares that would be issued pursuant to the respective metrics, assuming the end of the period was the June 30, 2020 vesting date. None of the remaining 37,155 shares and 4,772 shares are included at December 31, 2018 and 2017, respectively, as the applicable metrics had not been met for these shares.

(b)

Includes shares that would be issued pursuant to the respective metrics, assuming the end of the period was the June 30, 2021 vesting date. None of the remaining 42,862 shares are included at December 31, 2018, as the applicable metrics had not been met for these shares.

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):


	Year Ended December 31,
	2018		2017		2016
Numerator for basic and diluted earnings per share:
Net income	$	21,564	$	24,249	$	24,481
Less net income attributable to non-controlling interests		(899)		(102)		(59)
Less earnings allocated to unvested restricted stock (a)		(1,173)		(1,072)		(999)
Net income available for common stockholders: basic and diluted	$	19,492	$	23,075	$	23,423
Denominator for basic earnings per share:
Weighted average number of common shares		18,575		17,944		16,768
Effect of diluted securities:
RSUs		13		103		114
Denominator for diluted earnings per share:
Weighted average number of shares		18,588		18,047		16,882

Earnings per common share, basic	$	1.05	$	1.29	$	1.40
Earnings per common share, diluted	$	1.05	$	1.28	$	1.39

(a)

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