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Income (Loss) Per Share
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Income (Loss) Per Share
Income (Loss) Per Share
The following table reconciles the amounts used in calculating basic and diluted income (loss) per share (in thousands, except per share amounts):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Net income (loss) attributable to common stockholders - Basic and diluted:
 
 
 
 
 
 
 
Net income (loss) attributable to the Company
$
16,858

 
$
(6,840
)
 
$
18,912

 
$
(322
)
Less: Dividends on preferred stock
(994
)
 
(895
)
 
(2,866
)
 
(1,093
)
Less: Dividends on common stock
(3,064
)
 
(2,833
)
 
(9,041
)
 
(6,449
)
Less: Dividends on unvested performance stock units
(19
)
 
(35
)
 
(73
)
 
(70
)
Less: Dividends on unvested restricted shares
(12
)
 
(14
)
 
(34
)
 
(27
)
Less: Net income allocated to unvested performance stock units
(142
)
 
—

 
(15
)
 
—

Less: Net income allocated to unvested restricted shares
(63
)
 
—

 
(32
)
 
—

Undistributed net income (loss) allocated to common stockholders
12,564

 
(10,617
)
 
6,851

 
(7,961
)
Add back: Dividends on common stock
3,064

 
2,833

 
9,041

 
6,449

Distributed and undistributed net income (loss) - basic
$
15,628

 
$
(7,784
)
 
$
15,892

 
$
(1,512
)
Net income attributable to redeemable noncontrolling interests in operating partnership
1,960

 
—

 
1,994

 
—

Dividends on preferred stock
994

 
—

 
—

 
—

Distributed and undistributed net income (loss) - diluted
$
18,582

 
$
(7,784
)
 
$
17,886

 
$
(1,512
)
 
 
 
 
 
 
 
 
Weighted average common shares outstanding:
 
 
 
 
 
 
 
Weighted average common shares outstanding – basic
25,554

 
27,162

 
27,261

 
25,109

Effect of assumed conversion of operating partnership units
4,395

 
—

 
4,524

 
—

Effect of assumed conversion of preferred stock
3,824

 
—

 
—

 
—

Incentive fee shares
101

 
—

 
102

 
—

Weighted average common shares outstanding – diluted
33,874

 
27,162

 
31,887

 
25,109

 
 
 
 
 
 
 
 
Income (loss) per share - basic
 
 
 
 
 
 
 
Net income (loss) allocated to common stockholders per share
$
0.61

 
$
(0.29
)
 
$
0.58

 
$
(0.06
)
Income (loss) per share - diluted
 
 
 
 
 
 
 
Net income (loss) allocated to common stockholders per share
$
0.55

 
$
(0.29
)
 
$
0.56

 
$
(0.06
)

Due to their anti-dilutive effect, the computation of diluted income (loss) per share does not reflect the adjustments for the following items (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Net income (loss) allocated to common stockholders is not adjusted for:
 
 
 
 
 
 
 
Income allocated to unvested restricted shares
$
75

 
$
14

 
$
66

 
$
27

Income allocated to unvested performance stock units
161

 
35

 
88

 
70

Income (loss) attributable to redeemable noncontrolling interests in operating partnership
—

 
(1,532
)
 
—

 
671

Dividends on preferred stock
—

 
895

 
2,866

 
1,093

Total
$
236

 
$
(588
)
 
$
3,020

 
$
1,861

Weighted average diluted shares are not adjusted for:
 
 
 
 
 
 
 
Effect of unvested restricted shares
56

 
64

 
55

 
38

Effect of unvested performance stock units
65

 
181

 
58

 
69

Effect of assumed conversion of operating partnership units
—

 
5,385

 
—

 
7,446

Effect of assumed conversion of preferred stock
—

 
3,439

 
3,608

 
1,398

Total
121

 
9,069

 
3,721

 
8,951