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Earnings Per Share | 3 Months Ended
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Mar. 31, 2017
Earnings Per Share [Abstract] |
Earnings Per Share |
1 1. | Earnings Per Share
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):
| Three Months |
| Ended March 31, |
| 2017 |  |  | 2016 |
Numerators – Basic and Diluted |  |  |  |  |  |  |
(Loss) income from continuing operations | $ | (92,155 | ) |  | $ | 33,492 |
Plus: Gain on disposition of real estate |  | 38,127 |  |  |  | 12,381 |
Plus: Income attributable to non-controlling interests |  | (213 | ) |  |  | (300 | )
Less: Preferred dividends |  | (5,594 | ) |  |  | (5,594 | )
Less: Earnings attributable to unvested shares and operating partnership units |  | (251 | ) |  |  | (210 | )
Net (loss) income attributable to common shareholders after allocation to participating securities | $ | (60,086 | ) |  | $ | 39,769 |
Denominators – Number of Shares |  |  |  |  |  |  |
Basic—Average shares outstanding |  | 366,430 |  |  |  | 364,691 |
Effect of dilutive securities—Stock options |  | — |  |  |  | 351 |
Diluted—Average shares outstanding |  | 366,430 |  |  |  | 365,042 |
(Loss) Earnings Per Share: |  |  |  |  |  |  |
Basic | $ | (0.16 | ) |  | $ | 0.11 |
Diluted | $ | (0.16 | ) |  | $ | 0.11 |
Shares subject to issuance under the Company’s 2016 VSEP were not considered in the computation of diluted EPS for the three months ended March 31, 2017 and 2016, as the calculation was anti-dilutive.

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