XML 42 R26.htm IDEA: XBRL DOCUMENT v3.10.0.1
Income (Loss) Per Share
 12 Months Ended
Dec. 31, 2018
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,
 
2018
 
2017
 
2016
Net income (loss) attributable to common stockholders—Basic and diluted:
 
 
 
 
 
Net income (loss) attributable to the Company
$
1,320

 
$
23,022

 
$
19,316

Less: Dividends on preferred stocks
(7,205
)
 
(6,795
)
 
(3,860
)
Less: Dividends on common stock
(20,495
)
 
(20,179
)
 
(12,170
)
Less: Dividends on unvested performance stock units
114

 
(138
)
 
(122
)
Less: Dividends on unvested restricted shares
(314
)
 
(267
)
 
(77
)
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
(26,580
)
 
(4,357
)
 
3,022

Add back: Dividends on common stock
20,495

 
20,179

 
12,170

Distributed and undistributed net income (loss)—basic
$
(6,085
)
 
$
15,822

 
$
15,192

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

 
2,038

 
1,899

Distributed and undistributed net income (loss)—diluted
$
(6,085
)
 
$
17,860

 
$
17,091

 
 
 
 
 
 
Weighted average common shares outstanding:
 
 
 
 
 
Weighted average common shares outstanding—basic
31,944

 
30,473

 
26,648

Effect of assumed conversion of operating partnership units
—

 
4,233

 
4,470

Advisory services incentive fee shares
—

 
—

 
77

Weighted average common shares outstanding—diluted
31,944

 
34,706

 
31,195

 
 
 
 
 
 
Income (loss) per share—basic:
 
 
 
 
 
Net income (loss) allocated to common stockholders per share
$
(0.19
)
 
$
0.52

 
$
0.57

Income (loss) per share—diluted:
 
 
 
 
 
Net income (loss) allocated to common stockholders per share
$
(0.19
)
 
$
0.51

 
$
0.55


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,
 
2018
 
2017
 
2016
Net income (loss) allocated to common stockholders is not adjusted for:
 
 
 
 
 
Income (loss) allocated to unvested restricted shares
$
314

 
$
267

 
$
115

Income (loss) allocated to unvested performance stock units
(114
)
 
138

 
149

Income (loss) attributable to redeemable noncontrolling interests in operating partnership
(751
)
 
—

 
—

Dividends on preferred stock - Series B
6,829

 
6,795

 
3,860

Total
$
6,278

 
$
7,200

 
$
4,124

Weighted average diluted shares are not adjusted for:
 
 
 
 
 
Effect of unvested restricted shares
55

 
77

 
87

Effect of unvested performance stock units
48

 
—

 
55

Effect of assumed conversion of operating partnership units
4,159

 
—

 
—

Effect of assumed conversion of preferred stock - Series B
6,569

 
6,064

 
3,662

Total
10,831

 
6,141

 
3,804