EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2014

EARNINGS PER SHARE

Summary of components used to calculate basic and diluted earnings per share

A summary of the components used to calculate basic and diluted earnings per share follows (in thousands, except per share):

	For the Three Months Ended June 30,					For the Six Months Ended June 30,
	2014			2013		2014		2013
Numerator:
Income from continuing operations	$	9,201		$	6,125	$	12,148	$	7,651
Less: Preferred dividends	4,147			3,844		8,294		6,296
Allocation to participating securities	26			18		41		27
Attributable to non-controlling interest	186			198		48		115
Income from continuing operations attributable to common stockholders	4,842			2,065		3,765		1,213
Income (loss) from discontinued operations attributable to common stockholders	(40		)	521		333		860
Net income attributable to common stockholders	$	4,802		$	2,586	$	4,098	$	2,073
Denominator:
Weighted average common shares outstanding - basic	85,165			65,480		85,136		64,090
Dilutive effect of equity-based compensation awards	498			474		460		362
Weighted average common shares outstanding - diluted	85,663			65,954		85,596		64,452
Earnings per common share - basic and diluted:
Net income from continuing operations	$	0.06		$	0.03	$	0.04	$	0.02
Net income from discontinued operations	—			0.01		0.01		0.01
Net income	$	0.06		$	0.04	$	0.05	$	0.03