XML 41 R29.htm IDEA: XBRL DOCUMENT v3.4.0.3
Loss Per Share (Tables)
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Summary of amounts used in calculating basic and diluted earnings (loss) per share
The following table reconciles the amounts used in calculating basic and diluted loss per share (in thousands, except per share amounts):
 
Three Months Ended March 31,
 
2016
 
2015
Net income (loss) attributable to common stockholders – Basic and diluted:
 
 
 
Net loss attributable to the Company
$
(134
)
 
$
(206
)
Less: Dividends on preferred stock
(894
)
 
—

Less: Dividends on common stock
(2,837
)
 
(1,198
)
Less: Dividends on unvested performance stock units
(35
)
 
—

Less: Dividends on unvested restricted shares
(9
)
 
(5
)
Undistributed net loss allocated to common stockholders
(3,909
)
 
(1,409
)
Add back: Dividends on common stock
2,837

 
1,198

Distributed and undistributed net loss – basic
$
(1,072
)
 
$
(211
)
Net income attributable to redeemable noncontrolling interests in operating partnership
—

 
—

Distributed and undistributed net loss – diluted
$
(1,072
)
 
$
(211
)
 
 
 
 
Weighted average common shares outstanding:
 
 
 
Weighted average common shares outstanding – basic
28,343

 
24,070

Effect of assumed conversion of operating partnership units
—

 
—

Weighted average common shares outstanding – diluted
28,343

 
24,070

 
 
 
 
Loss per share – basic:
 
 
 
Net loss allocated to common stockholders per share
$
(0.04
)
 
$
(0.01
)
Loss per share – diluted:
 
 
 
Net loss allocated to common stockholders per share
$
(0.04
)
 
$
(0.01
)
Summary of computation of diluted income per share
Due to their anti-dilutive effect, the computation of diluted loss per share does not reflect the adjustments for the following items (in thousands):
 
Three Months Ended March 31,
 
2016
 
2015
Net loss allocated to common stockholders is not adjusted for:
 
 
 
Income allocated to unvested restricted shares
$
9

 
$
5

Income allocated to unvested performance stock units
35

 
—

Loss attributable to redeemable noncontrolling interests in operating partnership
(150
)
 
(72
)
Dividends on preferred stock
894

 
—

Total
$
788

 
$
(67
)
Weighted average diluted shares are not adjusted for:
 
 
 
Effect of unvested restricted shares
46

 
36

Effect of assumed conversion of operating partnership units
4,764

 
8,516

Effect of assumed conversion of preferred stock
3,439

 
—

Effect of incentive fee shares
116

 
—

Total
8,365

 
8,552