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Earnings (Loss) Per Share
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share Earnings (Loss) Per Share

Basic earnings (loss) per share is calculated by dividing net income (loss) available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings (loss) per share is calculated by dividing net income (loss) available to common stockholders that has been adjusted for dilutive securities, by the weighted-average number of common shares outstanding including dilutive securities.

Unvested share-based awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per share pursuant to the two-class method. Accordingly, distributed and undistributed earnings attributable to unvested share-based compensation (participating securities) have been excluded, as applicable, from net income or loss available to common stockholders used in the basic and diluted earnings per share calculations.

The following is a reconciliation of the calculation of basic and diluted earnings (loss) per share (in thousands, except share and per share data):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2020
 
2019
 
2020
 
2019
Numerator:
 
 
 
 
 
 
 
Net (loss) income attributable to common stockholders
$
(72,782
)
 
$
28,960

 
$
(107,341
)
 
$
37,905

Dividends declared on unvested share-based compensation
—

 
(35
)
 
—

 
(70
)
Net (loss) income available to common stockholders
$
(72,782
)
 
$
28,925

 
$
(107,341
)
 
$
37,835

Denominator:
 
 
 
 
 
 
 
Weighted-average number of common shares outstanding—basic
200,797,317

 
202,405,507

 
201,002,576

 
202,610,178

Effect of dilutive securities:
 
 
 
 
 
 
 
Unvested restricted common stock
—

 
68,995

 
—

 
58,084

Shares related to unvested PSUs
—

 
426,137

 
—

 
438,228

Weighted-average number of common shares outstanding—diluted
200,797,317

 
202,900,639

 
201,002,576

 
203,106,490

Earnings (loss) per share:


 
 
 
 
 
 
Net (loss) income per share available to common stockholders—basic
$
(0.36
)
 
$
0.14

 
$
(0.53
)
 
$
0.19

Net (loss) income per share available to common stockholders—diluted
$
(0.36
)
 
$
0.14

 
$
(0.53
)
 
$
0.19



For the six months ended June 30, 2020, 171,458 of unvested PSUs were excluded from diluted weighted-average common shares outstanding, as their effect would be anti-dilutive.

The common OP units held by the noncontrolling interest holders have been excluded from the denominator of the diluted earnings (loss) per share calculation as there would be no effect on the amounts since the common OP units' share of income or loss would also be added or subtracted to derive net income (loss) available to common stockholders.