Income (Loss) Per Share

3 Months Ended

Mar. 31, 2017

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 March 31,
	2017			2016
Net income (loss) attributable to common stockholders - Basic and diluted:
Net income (loss) attributable to the Company	$	(13	)	$	(134	)
Less: Dividends on preferred stock	(1,673		)	(894		)
Less: Dividends on common stock	(5,033		)	(2,837		)
Less: Dividends on unvested performance stock units	(67		)	(35		)
Less: Dividends on unvested restricted shares	(50		)	(9		)
Undistributed net income (loss) allocated to common stockholders	(6,836		)	(3,909		)
Add back: Dividends on common stock	5,033			2,837
Distributed and undistributed net income (loss) - basic and diluted	$	(1,803	)	$	(1,072	)

Weighted average common shares outstanding:
Weighted average common shares outstanding – basic and diluted	27,267			28,343

Income (loss) per share - basic and diluted:
Net income (loss) allocated to common stockholders per share	$	(0.07	)	$	(0.04	)

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 March 31,
	2017			2016
Net income (loss) allocated to common stockholders is not adjusted for:
Income (loss) allocated to unvested restricted shares	$	50		$	9
Income (loss) allocated to unvested performance stock units	67			35
Income (loss) attributable to redeemable noncontrolling interests in operating partnership	(255		)	(150		)
Dividends on preferred stock	1,673			894
Total	$	1,535		$	788
Weighted average diluted shares are not adjusted for:
Effect of unvested restricted shares	50			46
Effect of assumed conversion of operating partnership units	4,223			4,764
Effect of assumed conversion of preferred stock	4,550			3,439
Effect of incentive fee shares	182			116
Total	9,005			8,365