The following tables set forth the computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2017 and September 30, 2016.



	Three months ended September 30,					Nine months ended September 30,
Earnings Per Share (in thousands, except share data)	2017		2016			2017		2016
Numerator
Net income	$	21,839	$	130		$	23,276	$	2,521
Less: preferred stock dividends	2,449		4,001			7,345		10,914
Less: amount allocated to participating securities	84		95			250		289
Less: income (loss) attributable to noncontrolling interest after preferred stock dividends	828		(190		)	673		(424		)
Net income (loss) attributable to common stockholders	$	18,478	$	(3,776	)	$	15,008	$	(8,258	)
Denominator
Weighted average common shares outstanding — basic	92,786,852		71,130,848			87,632,167		68,984,670
Effect of dilutive securities⁽¹⁾
Unvested shares of restricted common stock	108,417		—			96,836		—
Unvested Performance-based Compensation Plans	539,705		—			509,137		—
Weighted average common shares outstanding — diluted	93,434,974		71,130,848			88,238,140		68,984,670
Net income (loss) per share — basic and diluted
Net income (loss) per share attributable to common stockholders — basic	$	0.20	$	(0.05	)	$	0.17	$	(0.12	)
Net income (loss) per share attributable to common stockholders — diluted	$	0.20	$	(0.05	)	$	0.17	$	(0.12	)

(1)

During the three and nine months ended September 30, 2016, there were 272,337 and 277,720, respectively, unvested shares of restricted common stock on a weighted average basis that were not included in the computation of diluted earnings per share because to do so would have been antidilutive for the period. During the three and nine months ended September 30, 2016, there were 278,788 and 210,617, respectively, unvested Performance-based Compensation Plans on a weighted average basis that were not included in the computation of diluted earnings per share because to do so would have been antidilutive for the period.