Annual report pursuant to Section 13 and 15(d)

Earnings per Share of Common Stock (Tables)

v3.19.3.a.u2
Earnings per Share of Common Stock (Tables)
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Basic and Diluted Loss Per Share of Common Stock
The following tables set forth the computation of basic and diluted (loss) earnings per share of common stock for the years ended December 31, 2019, 2018 and 2017, respectively. The OP Units held by Non-controlling OP Unitholders (which may be redeemed for shares of common stock) have been excluded from the diluted earnings per share calculation, as there would be no effect on the amounts since the Non-controlling OP Unitholders’ share of income would also be added back to net income. Net income figures are presented net of such non-controlling interests in the earnings per share calculation.

We computed basic (loss) earnings per share for the years ended December 31, 2019, 2018 and 2017, respectively, using the weighted average number of shares outstanding during the periods. Diluted (loss) earnings per share for the years ended December 31, 2019, 2018 and 2017, reflects additional shares of common stock related to our convertible Senior Common Stock, if the effect would be dilutive, that would have been outstanding if dilutive potential shares of common stock had been issued, as well as an adjustment to net (loss) income (attributable) available to common stockholders as applicable to common stockholders that would result from their assumed issuance (dollars in thousands, except per share amounts).

 
 
For the year ended December 31,
 
 
2019
 
2018
 
2017
Calculation of basic (loss) earnings per share of common stock:
 
 
 
 
 
 
Net (loss) income (attributable) available to common stockholders
 
$
(4,760
)
 
$
973

 
$
(4,939
)
Denominator for basic weighted average shares of common stock (1)
 
30,695,902

 
28,675,934

 
26,358,237

Basic (loss) earnings per share of common stock
 
$
(0.16
)
 
$
0.03

 
$
(0.19
)
Calculation of diluted (loss) earnings per share of common stock:
 
 
 
 
 
 
Net (loss) income (attributable) available to common stockholders
 
$
(4,760
)
 
$
973

 
$
(4,939
)
Net (loss) income (attributable) available to common stockholders plus assumed conversions (2)
 
$
(4,760
)
 
$
973

 
$
(4,939
)
Denominator for basic weighted average shares of common stock (1)
 
30,695,902

 
28,675,934

 
26,358,237

Effect of convertible Senior Common Stock (2)
 
—

 
—

 
—

Denominator for diluted weighted average shares of common stock (2)
 
30,695,902

 
28,675,934

 
26,358,237

Diluted (loss) earnings per share of common stock
 
$
(0.16
)
 
$
0.03

 
$
(0.19
)
 
(1)
The weighted average number of OP Units held by Non-controlling OP Unitholders was 700,924 and 128,233 for the years ended December 31, 2019 and 2018, respectively. The Company was the sole holder of OP Units during December 31, 2017.
(2)
We excluded convertible shares of Senior Common Stock of 674,611, 724,336 and 753,881 from the calculation of diluted earnings per share for the years ended December 31, 2019, 2018 and 2017, respectively, because it was anti-dilutive.