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Income Per Share (Tables) | 6 Months Ended
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Jun. 30, 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 income per share (in thousands, except per share amounts):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Net income attributable to common stockholders - Basic and diluted: |  |  |  |  |  |  |
Net income attributable to the Company | $ | 2,188 |  |  | $ | 6,724 |  |  | $ | 2,054 |  |  | $ | 6,518 |
Less: Dividends on preferred stock | (978 | ) |  | (198 | ) |  | (1,872 | ) |  | (198 | )
Less: Dividends on common stock | (3,140 | ) |  | (2,418 | ) |  | (5,977 | ) |  | (3,616 | )
Less: Dividends on unvested performance stock units | (19 | ) |  | (35 | ) |  | (54 | ) |  | (35 | )
Less: Dividends on unvested restricted shares | (13 | ) |  | (8 | ) |  | (22 | ) |  | (13 | )
Less: Net income allocated to unvested performance stock units | — |  |  | (9 | ) |  | — |  |  | (3 | )
Less: Net income allocated to unvested restricted shares | — |  |  | (14 | ) |  | — |  |  | (10 | )
Undistributed net income (loss) allocated to common stockholders | (1,962 | ) |  | 4,042 |  |  | (5,871 | ) |  | 2,643 |
Add back: Dividends on common stock | 3,140 |  |  | 2,418 |  |  | 5,977 |  |  | 3,616 |
Distributed and undistributed net income - basic | $ | 1,178 |  |  | $ | 6,460 |  |  | $ | 106 |  |  | $ | 6,259 |
Net income attributable to redeemable noncontrolling interests in operating partnership | 184 |  |  | — |  |  | — |  |  | 2,203 |
Dividends on preferred stock | — |  |  | 198 |  |  | — |  |  | — |
Distributed and undistributed net income - diluted | $ | 1,362 |  |  | $ | 6,658 |  |  | $ | 106 |  |  | $ | 8,462 |
Weighted average common shares outstanding: |  |  |  |  |  |  |
Weighted average common shares outstanding – basic | 27,916 |  |  | 24,017 |  |  | 28,121 |  |  | 24,043 |
Effect of assumed conversion of operating partnership units | 4,413 |  |  | — |  |  | — |  |  | 8,476 |
Effect of assumed conversion of preferred stock | — |  |  | 756 |  |  | — |  |  | — |
Incentive fee shares | 89 |  |  | — |  |  | 103 |  |  | — |
Weighted average common shares outstanding – diluted | 32,418 |  |  | 24,773 |  |  | 28,224 |  |  | 32,519 |
Income per share - basic: |  |  |  |  |  |  |
Net income allocated to common stockholders per share | $ | 0.04 |  |  | $ | 0.27 |  |  | $ | — |  |  | $ | 0.26 |
Income per share - diluted: |  |  |  |  |  |  |
Net income allocated to common stockholders per share | $ | 0.04 |  |  | $ | 0.27 |  |  | $ | — |  |  | $ | 0.26 |
Summary of computation of diluted income per share | Due to their anti-dilutive effect, the computation of diluted income per share does not reflect the adjustments for the following items (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Net income allocated to common stockholders is not adjusted for: |  |  |  |  |  |  |
Income allocated to unvested restricted shares | $ | 13 |  |  | $ | 22 |  |  | $ | 22 |  |  | $ | 23 |
Income allocated to unvested performance stock units | 19 |  |  | 44 |  |  | 54 |  |  | 38 |
Income attributable to redeemable noncontrolling interests in operating partnership | — |  |  | 2,275 |  |  | 34 |  |  | — |
Dividends on preferred stock | 978 |  |  | — |  |  | 1,872 |  |  | 198 |
Total | $ | 1,010 |  |  | $ | 2,341 |  |  | $ | 1,982 |  |  | $ | 259 |
Weighted average diluted shares are not adjusted for: |  |  |  |  |  |  |
Effect of unvested restricted shares | 63 |  |  | 14 |  |  | 55 |  |  | 25 |
Effect of unvested performance stock units | 108 |  |  | 27 |  |  | 54 |  |  | 14 |
Effect of assumed conversion of operating partnership units | — |  |  | 8,437 |  |  | 4,589 |  |  | — |
Effect of assumed conversion of preferred stock | 3,562 |  |  | — |  |  | 3,501 |  |  | 378 |
Total | 3,733 |  |  | 8,478 |  |  | 8,199 |  |  | 417 |

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