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Income (Loss) Per Share
 12 Months Ended
Dec. 31, 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):
 
Year Ended December 31,
 
2016
 
2015
 
2014
Net income (loss) attributable to common stockholders—Basic and diluted:
 
 
 
 
 
Net income (loss) attributable to the Company
$
19,316

 
$
(6,712
)
 
$
1,939

Less: Dividends on preferred stocks
(3,860
)
 
(1,986
)
 
—

Less: Dividends on common stock
(12,170
)
 
(9,282
)
 
(5,013
)
Less: Dividends on unvested performance stock units
(122
)
 
(105
)
 
—

Less: Dividends on unvested restricted shares
(77
)
 
(41
)
 
(18
)
Less: Net (income) loss allocated to unvested performance stock units
(27
)
 
—

 
—

Less: Net (income) loss allocated to unvested restricted shares
(38
)
 
—

 
—

Undistributed net income (loss) allocated to common stockholders
3,022

 
(18,126
)
 
(3,092
)
Add back: Dividends on common stock
12,170

 
9,282

 
5,013

Distributed and undistributed net income (loss)—basic
$
15,192

 
$
(8,844
)
 
$
1,921

Net income (loss) attributable to redeemable noncontrolling interests in operating partnership
1,899

 
—

 
496

Distributed and undistributed net income (loss)—diluted
$
17,091

 
$
(8,844
)
 
$
2,417

 
 
 
 
 
 
Weighted average common shares outstanding:
 
 
 
 
 
Weighted average common shares outstanding—basic
26,648

 
25,888

 
24,473

Effect of assumed conversion of operating partnership units
4,470

 
—

 
8,852

Incentive fee shares
77

 
—

 
—

Weighted average common shares outstanding—diluted
31,195

 
25,888

 
33,325

 
 
 
 
 
 
Income (loss) per share—basic:
 
 
 
 
 
Net income (loss) allocated to common stockholders per share
$
0.57

 
$
(0.34
)
 
$
0.08

Income (loss) per share—diluted:
 
 
 
 
 
Net income (loss) allocated to common stockholders per share
$
0.55

 
$
(0.34
)
 
$
0.07


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):
 
Year Ended December 31,
 
2016
 
2015
 
2014
Net income (loss) allocated to common stockholders is not adjusted for:
 
 
 
 
 
Income (loss) allocated to unvested restricted shares
$
115

 
$
41

 
$
18

Income (loss) allocated to unvested performance stock units
149

 
105

 
—

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

 
(393
)
 
—

Dividends on preferred stock
3,860

 
1,986

 
—

Total
$
4,124

 
$
1,739

 
$
18

Weighted average diluted shares are not adjusted for:
 
 
 
 
 
Effect of unvested restricted shares
87

 
51

 
57

Effect of unvested performance stock units
55

 
52

 
—

Effect of assumed conversion of operating partnership units
—

 
6,642

 
—

Effect of assumed conversion of Preferred Stock
3,662

 
1,909

 
—

Total
3,804

 
8,654

 
57