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Earnings Per Share | 3 Months Ended
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Mar. 31, 2016
Earnings Per Share [Abstract] |
Earnings Per Share |
9. | Earnings Per Share
The following table provides a reconciliation of net income (loss) 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):
| Three Months |
| Ended March 31, |
| 2016 |  |  | 2015 |
Numerators – Basic and Diluted |  |  |  |  |  |  |
Income (loss) from continuing operations | $ | 33,492 |  |  | $ | (268,008 | )
Plus: Gain on disposition of real estate |  | 12,381 |  |  |  | 25,094 |
Plus: Income attributable to non-controlling interests |  | (300 | ) |  |  | (873 | )
Less: Preferred dividends |  | (5,594 | ) |  |  | (5,594 | )
Less: Earnings attributable to unvested shares and operating partnership units |  | (210 | ) |  |  | (437 | )
Net income (loss) attributable to common shareholders after allocation to participating securities | $ | 39,769 |  |  | $ | (249,818 | )
Denominators – Number of Shares |  |  |  |  |  |  |
Basic—Average shares outstanding |  | 364,691 |  |  |  | 359,818 |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock options |  | 351 |  |  |  | — |
Diluted—Average shares outstanding |  | 365,042 |  |  |  | 359,818 |
Earnings Per Share: |  |  |  |  |  |  |
Basic | $ | 0.11 |  |  | $ | (0.69 | )
Diluted | $ | 0.11 |  |  | $ | (0.69 | )
The following potentially dilutive securities were considered in the calculation of EPS: Potentially Dilutive Securities
| · | At March 31, 2016 and 2015, the Company had 398,701 and 1,441,890 operating partnership units outstanding, respectively. The exchange into common shares associated with operating partnership units was not included in the computation of diluted shares outstanding for all periods presented because the effect of assuming conversion was anti-dilutive.
| · | Shares subject to issuance under the 2016 VSEP (Note 7) were not considered in the computation of diluted EPS for the three months ended March 31, 2016, as the calculation was anti-dilutive. The 2016 VSEP was not in effect for the three months ended March 31, 2015.
Common Shares Common share dividends declared were $0.19 and $0.1725 per share for the three-months ended March 31, 2016 and 2015, respectively.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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