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Earnings per Common Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE
Earnings per Common Share
The following is a reconciliation of basic and diluted earnings per common share (in thousands, except share and per-share data):
 
For the three months ended March 31,
 
2013
 
2012
Numerator:
 
 
 
Net income (loss) attributable to common shareholders
$
(4,916
)
 
$
(7,247
)
Less: dividends paid on unvested share-based compensation
(79
)
 
(83
)
Undistributed earnings attributable to share-based compensation
—

 
—

Net income (loss) available to common shareholders
$
(4,995
)
 
$
(7,330
)
Denominator:
 
 
 
Weighted-average number of common shares — basic
60,996,196

 
51,009,904

Effect of dilutive share-based compensation
—

 
—

Weighted-average number of common shares — diluted
60,996,196

 
51,009,904

 
 
 
 
Net income (loss) per share available to common shareholders — basic
$
(0.08
)
 
$
(0.14
)
Net income (loss) per share available to common shareholders — diluted
$
(0.08
)
 
$
(0.14
)

For the three months ended March 31, 2013 and 2012, 130,130 and 204,995 unvested service condition restricted shares and performance based equity awards were excluded from diluted weighted-average common shares, as their effect would have been anti-dilutive. The LTIP units held by the non-controlling interest holders have been excluded from the denominator of the diluted earnings per share as there would be no effect on the amounts since the limited partners' share of income (loss) would also be added or subtracted to derive at net income (loss) available to common shareholders.