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,
	2017			2016			2017			2016
Net income (loss) attributable to common stockholders - basic and diluted:
Net income (loss) attributable to the Company	$	(1,000	)	$	16,858		$	(1,898	)	$	18,912
Less: Dividends on preferred stock	(1,707		)	(994		)	(5,087		)	(2,866		)
Less: Dividends on common stock	(5,038		)	(3,064		)	(15,107		)	(9,041		)
Less: Dividends on unvested performance stock units	(85		)	(19		)	(238		)	(73		)
Less: Dividends on unvested restricted shares	(75		)	(12		)	(200		)	(34		)
Less: Net (income) loss allocated to unvested performance stock units	—			(142		)	—			(15		)
Less: Net (income) loss allocated to unvested restricted shares	—			(63		)	—			(32		)
Undistributed net income (loss) allocated to common stockholders	(7,905		)	12,564			(22,530		)	6,851
Add back: Dividends on common stock	5,038			3,064			15,107			9,041
Distributed and undistributed net income (loss) - basic and diluted	$	(2,867	)	$	15,628		$	(7,423	)	$	15,892
Net income (loss) attributable to redeemable noncontrolling interests in operating partnership	—			1,960			—			1,994
Dividends on preferred stock	—			994			—			—
Distributed and undistributed net income (loss) - diluted	$	(2,867	)	$	18,582		$	(7,423	)	$	17,886

Weighted average common shares outstanding:
Weighted average common shares outstanding – basic and diluted	31,483			25,554			30,089			27,261
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	31,483			33,874			30,089			31,887

Income (loss) per share - basic and diluted:
Net income (loss) allocated to common stockholders per share	$	(0.09	)	$	0.61		$	(0.25	)	$	0.58
Income (loss) per share - diluted:
Net income (loss) allocated to common stockholders per share	$	(0.09	)	$	0.55		$	(0.25	)	$	0.56

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,
	2017			2016		2017			2016
Net income (loss) allocated to common stockholders is not adjusted for:
Income (loss) allocated to unvested restricted shares	$	75		$	75	$	200		$	66
Income (loss) allocated to unvested performance stock units	85			161		238			88
Income (loss) attributable to redeemable noncontrolling interests in operating partnership	(360		)	—		(958		)	—
Dividends on preferred stock	1,707			—		5,087			2,866
Total	$	1,507		$	236	$	4,567		$	3,020
Weighted average diluted shares are not adjusted for:
Effect of unvested restricted shares	79			56		81			55
Effect of unvested performance stock units	—			65		—			58
Effect of assumed conversion of operating partnership units	4,256			—		4,256			—
Effect of assumed conversion of preferred stock	6,569			—		5,893			3,608
Effect of incentive fee shares	132			—		146			—
Total	11,036			121		10,376			3,721