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Income (Loss) Per Share (Tables) | 6 Months Ended
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Jun. 30, 2017
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 (loss) per share (in thousands, except per share amounts):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Net income (loss) attributable to common stockholders - basic and diluted: |  |  |  |  |  |  |
Net income (loss) attributable to the Company | $ | (885 | ) |  | $ | 2,188 |  |  | $ | (898 | ) |  | $ | 2,054 |
Less: Dividends on preferred stock | (1,707 | ) |  | (978 | ) |  | (3,380 | ) |  | (1,872 | )
Less: Dividends on common stock | (5,036 | ) |  | (3,140 | ) |  | (10,069 | ) |  | (5,977 | )
Less: Dividends on unvested performance stock units | (86 | ) |  | (19 | ) |  | (153 | ) |  | (54 | )
Less: Dividends on unvested restricted shares | (75 | ) |  | (13 | ) |  | (125 | ) |  | (22 | )
Undistributed net income (loss) allocated to common stockholders | (7,789 | ) |  | (1,962 | ) |  | (14,625 | ) |  | (5,871 | )
Add back: Dividends on common stock | 5,036 |  |  | 3,140 |  |  | 10,069 |  |  | 5,977 |
Distributed and undistributed net income (loss) - basic and diluted | $ | (2,753 | ) |  | $ | 1,178 |  |  | $ | (4,556 | ) |  | $ | 106 |
Net income (loss) attributable to redeemable noncontrolling interests in operating partnership | — |  |  | 184 |  |  | — |  |  | — |
Distributed and undistributed net income (loss) - diluted | $ | (2,753 | ) |  | $ | 1,362 |  |  | $ | (4,556 | ) |  | $ | 106 |
Weighted average common shares outstanding: |  |  |  |  |  |  |
Weighted average common shares outstanding – basic and diluted | 31,469 |  |  | 27,916 |  |  | 29,380 |  |  | 28,121 |
Effect of assumed conversion of operating partnership units | — |  |  | 4,413 |  |  | — |  |  | — |
Incentive fee shares | — |  |  | 89 |  |  | — |  |  | 103 |
Weighted average common shares outstanding – diluted | 31,469 |  |  | 32,418 |  |  | 29,380 |  |  | 28,224 |
Income (loss) per share - basic and diluted: |  |  |  |  |  |  |
Net income (loss) allocated to common stockholders per share | $ | (0.09 | ) |  | $ | 0.04 |  |  | $ | (0.16 | ) |  | $ | — |
Income (loss) per share - diluted: |  |  |  |  |  |  |
Net income (loss) allocated to common stockholders per share | $ | (0.09 | ) |  | $ | 0.04 |  |  | $ | (0.16 | ) |  | $ | — |
Summary of computation of diluted income per share | 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 June 30, |  | Six Months Ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Net income (loss) allocated to common stockholders is not adjusted for: |  |  |  |  |  |  |
Income (loss) allocated to unvested restricted shares | $ | 75 |  |  | $ | 13 |  |  | $ | 125 |  |  | $ | 22 |
Income (loss) allocated to unvested performance stock units | 86 |  |  | 19 |  |  | 153 |  |  | 54 |
Income (loss) attributable to redeemable noncontrolling interests in operating partnership | (343 | ) |  | — |  |  | (598 | ) |  | 34 |
Dividends on preferred stock | 1,707 |  |  | 978 |  |  | 3,380 |  |  | 1,872 |
Total | $ | 1,525 |  |  | $ | 1,010 |  |  | $ | 3,060 |  |  | $ | 1,982 |
Weighted average diluted shares are not adjusted for: |  |  |  |  |  |  |
Effect of unvested restricted shares | 113 |  |  | 63 |  |  | 82 |  |  | 55 |
Effect of unvested performance stock units | — |  |  | 108 |  |  | — |  |  | 54 |
Effect of assumed conversion of operating partnership units | 4,290 |  |  | — |  |  | 4,256 |  |  | 4,589 |
Effect of assumed conversion of preferred stock | 6,560 |  |  | 3,562 |  |  | 5,555 |  |  | 3,501 |
Effect of incentive fee shares | 124 |  |  | — |  |  | 153 |  |  | — |
Total | 11,087 |  |  | 3,733 |  |  | 10,046 |  |  | 8,199 |

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