Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Reconciliation of Net Income (Loss) and Number of Common Shares Used in Computations of Basic Earnings Per Share

The table below provides a reconciliation of net income (loss) and the number of common shares used in the computations of “basic” earnings per share (“EPS”), which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares.  Potentially dilutive securities consist of shares of non-vested restricted stock and the redeemable non-controlling interests in the Operating Partnership.

All outstanding non-vested shares that contain non-forfeitable rights to dividends are considered participating securities and are included in computing EPS pursuant to the two-class method which specifies that all outstanding non-vested share-based payment awards that contain non-forfeitable rights to distributions are considered participating securities and should be included in the computation of EPS.

Earnings per share has not been presented for Class B shareholders, as they do not have economic rights.

(in thousands except per share amounts)	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Numerator
Net income (loss)	$	(10,602	)	$	(34,867	)	$	5,599		$	(67,711	)
Net (income) loss attributable to non-controlling interests		3,831			13,648			(2,042	)		26,654
Preferred dividends		(1,225	)		—			(2,453	)		—
Net income (loss) attributable to common shareholders	$	(7,996	)	$	(21,219	)	$	1,104		$	(41,057	)
Earnings allocated to unvested participating securities		—			—			(4	)		—
Net income (loss) available to common shareholders    - Basic and diluted	$	(7,996	)	$	(21,219	)	$	1,100		$	(41,057	)
Denominator
Weighted average Class A common shares outstanding		35,372			27,922			34,527			27,835
Weighted average Class C common shares outstanding		111			5,844			922			5,803
Weighted average Class A and Class C common shares    outstanding - Basic		35,483			33,766			35,449			33,638
Restricted shares and share units		—			—			139			—
Weighted average Class A and Class C common shares    outstanding - Diluted		35,483			33,766			35,588			33,638
Net income (loss) per share attributable to Class A and    Class C common shareholders - Basic	$	(0.23	)	$	(0.63	)	$	0.03		$	(1.22	)
Net income (loss) per share attributable to Class A and    Class C common shareholders - Diluted	$	(0.23	)	$	(0.63	)	$	0.03		$	(1.22	)