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Earnings per Common Share
 6 Months Ended
Jun. 30, 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 June 30,
 
For the six months ended June 30,
 
2013
 
2012
 
2013
 
2012
Numerator:
 
 
 
 
 
 
 
Net income (loss) attributable to common shareholders
$
8,730

 
$
5,407

 
$
3,814

 
$
(1,840
)
Less: dividends paid on unvested share-based compensation
(81
)
 
(83
)
 
(161
)
 
(166
)
Undistributed earnings attributable to share-based compensation
—

 
—

 
—

 
—

Net income (loss) available to common shareholders
$
8,649

 
$
5,324

 
$
3,653

 
$
(2,006
)
Denominator:
 
 
 
 
 
 
 
Weighted-average number of common shares — basic
61,082,770

 
52,908,195

 
61,039,721

 
51,959,049

Effect of dilutive share-based compensation
113,626

 
19,667

 
155,313

 
—

Weighted-average number of common shares — diluted
61,196,396

 
52,927,862

 
61,195,034

 
51,959,049

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

 
$
0.10

 
$
0.06

 
$
(0.04
)
Net income (loss) per share available to common shareholders — diluted
$
0.14

 
$
0.10

 
$
0.06

 
$
(0.04
)

For the six months ended June 30, 2012, 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.