Numerator:

Net income

$

7,723

$

2,521

$

19,813

$

17,887

Less: Net income attributable to noncontrolling interests

(99

)

(35

)

(257

)

(248

)

Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares

$

7,624

$

2,486

$

19,556

$

17,639

Denominator:

Weighted average number of common shares - basic

50,297

49,534

50,067

49,472

Effect of dilutive securities:

Unvested restricted shares

1,008

1,103

1,039

927

Weighted average number of common shares - dilutive

51,305

50,637

51,106

50,399

Earnings Per Share:

Basic:

Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares

$

0.15

$

0.05

$

0.39

$

0.36

Diluted:

Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares

$

0.15

$

0.05

$

0.38

$

0.35