Earnings Per Share

3 Months Ended

Mar. 31, 2016

NOTE 9 – EARNINGS PER SHARE

The following table is a reconciliation of the income or loss (numerator) and the weighted average shares (denominator) used in the calculation of basic and diluted earnings per common share. The computation of basic and diluted earnings per share is presented below.



	Three Months Ended March 31,
		2016		2015
NUMERATOR:
Basic and Diluted*
Loss from Continuing Operations	$	(8,419)	$	(4,389)
Loss from Continuing Operations allocated to Noncontrolling Interests		687		443
Distributions to Preferred Shareholders		(3,589)		(3,589)
Dividends Paid on Unvested Restricted Shares and LTIP Units		(144)		(141)
Net Loss attributable to Common Shareholders	$	(11,465)	$	(7,676)

DENOMINATOR:
Weighted average number of common shares - basic		44,379,327		49,582,790
Weighted average number of common shares - diluted		44,379,327		49,582,790

*Income (loss) allocated to noncontrolling interest in HHLP has been excluded from the numerator and Common Units and Vested LTIP Units have been omitted from the denominator for the purpose of computing diluted earnings per share since including these amounts in the numerator and denominator would have no impact. In addition, potentially dilutive common shares, if any, have been excluded from the denominator if they are anti-dilutive to income (loss) from continuing operations applicable to common shareholders.