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Income (Loss) Per Share (Tables) | 9 Months Ended
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Sep. 30, 2018
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 September 30, |  | Nine Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Net income (loss) attributable to common stockholders - basic and diluted: |  |  |  |  |  |  |
Net income (loss) attributable to the Company | $ | (1,869 | ) |  | $ | (1,000 | ) |  | $ | 13,681 |  |  | $ | (1,898 | )
Less: Dividends on preferred stock | (1,707 | ) |  | (1,707 | ) |  | (5,122 | ) |  | (5,087 | )
Less: Dividends on common stock | (5,126 | ) |  | (5,038 | ) |  | (15,364 | ) |  | (15,107 | )
Less: Dividends on unvested performance stock units | (72 | ) |  | (85 | ) |  | (216 | ) |  | (238 | )
Less: Dividends on unvested restricted shares | (78 | ) |  | (75 | ) |  | (243 | ) |  | (200 | )
Undistributed net income (loss) allocated to common stockholders | (8,852 | ) |  | (7,905 | ) |  | (7,264 | ) |  | (22,530 | )
Add back: Dividends on common stock | 5,126 |  |  | 5,038 |  |  | 15,364 |  |  | 15,107 |
Distributed and undistributed net income (loss) - basic and diluted | $ | (3,726 | ) |  | $ | (2,867 | ) |  | $ | 8,100 |  |  | $ | (7,423 | )
Weighted average common shares outstanding: |  |  |  |  |  |  |
Weighted average common shares outstanding – basic | 32,023 |  |  | 31,483 |  |  | 31,905 |  |  | 30,089 |
Advisory services incentive fee shares | — |  |  | — |  |  | 17 |  |  | — |
Weighted average common shares outstanding – diluted | 32,023 |  |  | 31,483 |  |  | 31,922 |  |  | 30,089 |
Income (loss) per share - basic: |  |  |  |  |  |  |
Net income (loss) allocated to common stockholders per share | $ | (0.12 | ) |  | $ | (0.09 | ) |  | $ | 0.25 |  |  | $ | (0.25 | )
Income (loss) per share - diluted: |  |  |  |  |  |  |
Net income (loss) allocated to common stockholders per share | $ | (0.12 | ) |  | $ | (0.09 | ) |  | $ | 0.25 |  |  | $ | (0.25 | )
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 September 30, |  | Nine Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Net income (loss) allocated to common stockholders is not adjusted for: |  |  |  |  |  |  |
Income (loss) allocated to unvested restricted shares | $ | 78 |  |  | $ | 75 |  |  | $ | 243 |  |  | $ | 200 |
Income (loss) allocated to unvested performance stock units | 72 |  |  | 85 |  |  | 216 |  |  | 238 |
Income (loss) attributable to redeemable noncontrolling interests in operating partnership | (452 | ) |  | (360 | ) |  | 1,075 |  |  | (958 | )
Dividends on preferred stock | 1,707 |  |  | 1,707 |  |  | 5,122 |  |  | 5,087 |
Total | $ | 1,405 |  |  | $ | 1,507 |  |  | $ | 6,656 |  |  | $ | 4,567 |
Weighted average diluted shares are not adjusted for: |  |  |  |  |  |  |
Effect of unvested restricted shares | 81 |  |  | 79 |  |  | 57 |  |  | 81 |
Effect of unvested performance stock units | 52 |  |  | — |  |  | 23 |  |  | — |
Effect of assumed conversion of operating partnership units | 4,173 |  |  | 4,256 |  |  | 4,137 |  |  | 4,256 |
Effect of assumed conversion of preferred stock | 6,569 |  |  | 6,569 |  |  | 6,569 |  |  | 5,893 |
Effect of advisory services incentive fee shares | 32 |  |  | 132 |  |  | — |  |  | 146 |
Total | 10,907 |  |  | 11,036 |  |  | 10,786 |  |  | 10,376 |

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