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Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Computation of Company's Earnings Per Share (EPS) and Reconciliation of Net Income (Loss) from Continuing Operations and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS

The following table provides a reconciliation of net (loss) income from continuing operations and the number of common shares used in the computations of “basic” earnings per share (“EPS”), which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts):

 

 

For the Year Ended December 31,

 

 

2015

 

 

2014

 

 

2013

 

Numerators Basic and Diluted

 

 

 

 

 

 

 

 

 

 

 

Continuing Operations:

 

 

 

 

 

 

 

 

 

 

 

(Loss) income from continuing operations

$

(237,881

)

 

$

21,107

 

 

$

21,419

 

Plus: Gain on disposition of real estate

 

167,571

 

 

 

3,060

 

 

 

467

 

Plus: (Income) loss attributable to non-controlling interests

 

(1,858

)

 

 

2,356

 

 

 

(640

)

Less: Write-off of preferred share original issuance costs

 

 

 

 

(1,943

)

 

 

(5,246

)

Less: Preferred dividends

 

(22,375

)

 

 

(24,054

)

 

 

(27,721

)

Less: Earnings attributable to unvested shares and OP Units

 

(1,286

)

 

 

(1,684

)

 

 

(1,367

)

Loss from continuing operations

 

(95,829

)

 

 

(1,158

)

 

 

(13,088

)

Discontinued Operations:

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations

 

 

 

 

89,398

 

 

 

(31,267

)

Plus: loss (income) attributable to non-controlling interests

 

 

 

 

1,361

 

 

 

(154

)

Net (loss) income attributable to common shareholders after allocation

   to participating securities

$

(95,829

)

 

$

89,601

 

 

$

(44,509

)

Denominators Number of Shares

 

 

 

 

 

 

 

 

 

 

 

Basic and DilutedAverage shares outstanding

 

360,946

 

 

 

358,122

 

 

 

326,426

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings Per Share:

 

 

 

 

 

 

 

 

 

 

 

Loss from continuing operations attributable to common

   shareholders

$

(0.27

)

 

$

0.00

 

 

$

(0.04

)

Income (loss) from discontinued operations attributable to common

   shareholders

 

 

 

 

0.25

 

 

 

(0.10

)

Net (loss) income attributable to common shareholders

$

(0.27

)

 

$

0.25

 

 

$

(0.14

)

Diluted Earnings Per Share:

 

 

 

 

 

 

 

 

 

 

 

Loss from continuing operations attributable to common

   shareholders

$

(0.27

)

 

$

0.00

 

 

$

(0.04

)

Income (loss) from discontinued operations attributable to common

   shareholders

 

 

 

 

0.25

 

 

 

(0.10

)

Net (loss) income attributable to common shareholders

$

(0.27

)

 

$

0.25

 

 

$

(0.14

)