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Earnings Per Common Share (Tables)
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share
The following table sets forth the computation of basic earnings per share (“EPS”):
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2014
 
2013
 
2014
 
2013
 
 
(In thousands, except per share data)
Income from continuing operations
 
$
1,120

 
$
4,092

 
$
3,881

 
$
8,919

Net income from continuing operations attributable to noncontrolling interest
 
(34
)
 
(147
)
 
(123
)
 
(357
)
Preferred share dividends
 
(1,813
)
 
(1,813
)
 
(3,625
)
 
(3,625
)
Allocation of continuing income to restricted share awards
 
(44
)
 
(38
)
 
(94
)
 
(76
)
(Loss) income from continuing operations attributable to RPT
 
$
(771
)
 
$
2,094

 
$
39

 
$
4,861

 
 
 
 
 
 
 
 
 
Income from discontinued operations
 
—

 
1,690

 
—

 
2,137

Net income from discontinued operations attributable to noncontrolling interest
 
—

 
(61
)
 
—

 
(76
)
Allocation of discontinued income to restricted share awards
 
—

 
(11
)
 
—

 
(15
)
Income from discontinued operations attributable to RPT
 
—

 
1,618

 
—

 
2,046

Net (loss) income available to common shareholders
 
$
(771
)
 
$
3,712

 
$
39

 
$
6,907

 
 
 
 
 
 
 
 
 
Weighted average shares outstanding, Basic
 
68,853

 
59,911

 
67,966

 
55,867

 
 
 
 
 
 
 
 
 
(Loss) income per common share, Basic
 
 

 
 

 
 

 
 

Continuing operations
 
$
(0.01
)
 
$
0.03

 
$
—

 
$
0.08

Discontinued operations
 
—

 
0.03

 
—

 
0.04

Net (loss) income available to common shareholders
 
$
(0.01
)
 
$
0.06

 
$
—

 
$
0.12

 
 
 
 
 
 
 
 
 


The following table sets forth the computation of diluted EPS:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2014
 
2013
 
2014
 
2013
 
 
(In thousands, except per share data)
Income from continuing operations
 
$
1,120

 
$
4,092

 
$
3,881

 
$
8,919

Net income from continuing operations attributable to noncontrolling interest
 
(34
)
 
(147
)
 
(123
)
 
(357
)
Preferred share dividends
 
(1,813
)
 
(1,813
)
 
(3,625
)
 
(3,625
)
Allocation of continuing income to restricted share awards
 
(44
)
 
(38
)
 
(94
)
 
(76
)
Allocation of over distributed continuing income to restricted share awards
 
—

 
(4
)
 
—

 
(8
)
(Loss) income from continuing operations attributable to RPT
 
$
(771
)
 
$
2,090

 
$
39

 
$
4,853

 
 
 
 
 
 
 
 
 
Income from discontinued operations
 
—

 
1,690

 
—

 
2,137

Net income from discontinued operations attributable to noncontrolling interest
 
—

 
(61
)
 
—

 
(76
)
Allocation of discontinued income to restricted share awards
 
—

 
(2
)
 
—

 
(2
)
Income from discontinued operations attributable to RPT
 
—

 
1,627

 
—

 
2,059

Net (loss) income available to common shareholders
 
$
(771
)
 
$
3,717

 
$
39

 
$
6,912

 
 
 
 
 
 
 
 
 
Weighted average shares outstanding, Basic
 
68,853

 
59,911

 
67,966

 
55,867

Stock options and restricted stock awards using the treasury method
 
244

 
408

 
243

 
410

Dilutive effect of securities (1)
 
—

 
—

 
—

 
—

Weighted average shares outstanding, Diluted
 
69,097

 
60,319

 
68,209

 
56,277

 
 
 
 
 
 
 
 
 
(Loss) income per common share, Basic
 
 

 
 

 
 

 
 

Continuing operations
 
$
(0.01
)
 
$
0.03

 
$
—

 
$
0.08

Discontinued operations
 
—

 
0.03

 
—

 
0.04

Net (loss) income available to common shareholders
 
$
(0.01
)
 
$
0.06

 
$
—

 
$
0.12

 
 
 
 
 
 
 
 
 
 
(1) 
The assumed conversion of preferred shares are anti-dilutive for all periods presented and accordingly, have been excluded from the weighted average common shares used to compute diluted EPS.