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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Reconciliation of Net Income (Loss) and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS

The following table provides a reconciliation of net income (loss) 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). Further, all per share amounts and average shares outstanding have been restated to reflect the May 2018 reverse stock split described in    Note 1.

 

For the Year Ended December 31,

 

 

2018

 

 

2017

 

 

2016

 

Numerators – Basic and Diluted

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

116,105

 

 

$

(243,132

)

 

$

61,199

 

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

 

(1,671

)

 

 

1,447

 

 

 

(1,187

)

Less: Preferred dividends

 

(33,531

)

 

 

(28,759

)

 

 

(22,375

)

Less: Earnings attributable to unvested shares and OP Units

 

(1,137

)

 

 

(989

)

 

 

(786

)

Net income (loss) attributable to common shareholders after allocation

   to participating securities

$

79,766

 

 

$

(271,433

)

 

$

36,851

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominators – Number of Shares

 

 

 

 

 

 

 

 

 

 

 

Basic – Average shares outstanding

 

184,528

 

 

 

183,681

 

 

 

182,647

 

Effect of dilutive securities – Stock options

 

7

 

 

—

 

 

 

134

 

Diluted – Average shares outstanding

 

184,535

 

 

 

183,681

 

 

 

182,781

 

Earnings (Loss) Per Share:

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.43

 

 

$

(1.48

)

 

$

0.20

 

Diluted

$

0.43

 

 

$

(1.48

)

 

$

0.20