Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of the Computation of Basic and Diluted Earnings per Share

The computations of basic and diluted earnings per share for the three and nine months ended September 30, 2020 and 2019 were as follows (in thousands, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator:
Loss from continuing operations	$	(956)	$	(8,432)	$	(4,643)	$	(25,066)

Allocation of earnings to unvested restricted share awards to continuing operations	(151)		47		(453)		118
Adjusted loss from continuing operations attributable to the controlling interests	(1,107)		(8,385)		(5,096)		(24,948)
Income from discontinued operations	—		341,202		—		354,418
Allocation of earnings to unvested restricted share awards to discontinued operations	—		(1,841)		—		(1,870)
Adjusted income from discontinuing operations	—		339,361		—		352,548
Adjusted net (loss) income attributable to the controlling interests	$	(1,107)	$	330,976	$	(5,096)	$	327,600
Denominator:
Weighted average shares outstanding – basic	82,186		79,981		82,142		79,933
Effect of dilutive securities:
Employee restricted share awards	—		—		—		—
Operating partnership units	—		—		—		—
Weighted average shares outstanding – diluted	82,186		79,981		82,142		79,933
Earnings per common share, basic:
Continuing operations	$	(0.01)	$	(0.10)	$	(0.06)	$	(0.31)
Discontinued operations	—		4.24		—		4.41
Basic net (loss) income attributable to the controlling interests per common share (1)	$	(0.01)	$	4.14	$	(0.06)	$	4.10
Earnings per common share, diluted:
Continuing operations	$	(0.01)	$	(0.10)	$	(0.06)	$	(0.31)
Discontinued operations	—		4.24		—		4.41
Diluted net (loss) income attributable to the controlling interests per common share (1)	$	(0.01)	$	4.14	$	(0.06)	$	4.10

Dividends declared per common share	$	0.30	$	0.30	$	0.90	$	0.90

______________________________

(1) Earnings per share may not sum due to rounding.