Equity (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of dividends declared by the Company (on a per share basis)

The following table presents dividends declared (on a per share basis) during the three months ended March 31, 2018:

Common Stock			Preferred Stock
				Dividend (1)
Declaration Date	Dividend		Declaration Date	Series A		Series B		Series C
February 21, 2018	$	0.21	February 2, 2018	$	0.515625	$	0.484375	$	0.53125

(1)

The dividend declared on February 2, 2018 was for December 1, 2017 through February 28, 2018.

Schedule of reconciliation of the numerator and denominator of the basic and diluted EPS computations

The following tables reconcile the numerator and denominator of our basic and diluted EPS computations ($ in thousands, except share and per share data):

	Three Months Ended March 31,
	2018				2017
	Basic		Diluted		Basic		Diluted

Net income attributable to common stockholders (1)	$	26,189	$	26,189	$	15,614	$	15,614
Net income attributable to noncontrolling interest (2)	—		8,991		—		6,442

Net income attributable to common stockholders and nocontrolling interest	$	26,189	$	35,180	$	15,614	$	22,056


Weighted average shares outstanding	61,842,336		61,842,336		51,461,156		51,461,156
Dilutive effect of OP Units (2)	—		21,230,769		—		21,230,769
Dilutive effect of restricted stock units (3)	—		1,261,382		—		1,038,143
Dilutive effect of convertible notes (4)	—		365,248		—		—

Weighted average shares outstanding	61,842,336		84,699,735		51,461,156		73,730,068


Net income per common share (1)	$	0.42	$	0.42	$	0.30	$	0.30

(1)

Net of preferred stock dividends.

(2)

We consider OP Units to be common stock equivalents as the holders have voting rights, the right to distributions and the right to redeem the OP Units for the cash value of a corresponding number of shares of common stock or a corresponding number of shares of common stock, at our election.

(3)

Mr. Kaufman is granted restricted stock units annually, which vest at the end of a four-year performance period based upon our achievement of total stockholder return objectives.

(4)

The convertible senior unsecured notes impact diluted earnings per share if the average price of our common stock exceeds the conversion price, as calculated in accordance with the terms of the indenture.