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Earnings Per Common Share
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Common Share
 Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per share (“EPS”):
 
Three Months Ended
 
Nine Months Ended
 
 
September 30,
 
September 30,
 
 
2017
 
2016
 
2017
 
2016
 
 
(In thousands, except per share data)
Net income
$
29,629

 
$
13,868

 
$
49,295

 
$
54,031

 
Net income attributable to noncontrolling interest
(696
)
 
(326
)
 
(1,158
)
 
(1,282
)
 
Allocation of income to restricted share awards
(135
)
 
(90
)
 
(310
)
 
(287
)
 
Income attributable to RPT
28,798

 
13,452

 
47,827

 
52,462

 
Preferred share dividends
(1,675
)
 
(1,675
)
 
(5,026
)
 
(5,026
)
 
Net income available to common shareholders
27,123

 
11,777

 
42,801

 
47,436

 
Add back preferred shares for dilution (1)
1,675

 
—

 
—

 
—

 
Net income available to common shareholders - Diluted
$
28,798

 
$
11,777

 
$
42,801

 
$
47,436

 
 
 
 
 
 
 
 
 
 
Weighted average shares outstanding, Basic
79,381

 
79,249

 
79,337

 
79,226

 
Restricted stock awards using the treasury method
165

 
188

 
177

 
178

 
Dilutive effect of securities (1)
6,713

 
—

 
—

 
—

 
Weighted average shares outstanding, Diluted
86,259

 
79,437

 
79,514

 
79,404

 

 
 
 
 
 

 
 

 
Income per common share, Basic
$
0.34

 
$
0.15

 
$
0.54

 
$
0.60

 
Income per common share, Diluted
$
0.33

 
$
0.15

 
$
0.54

 
$
0.60

 
 
 
 
 
 
 
 
 
 


(1) The assumed conversion of preferred shares is dilutive for the three months ended September 30, 2017 and anti-dilutive for all other periods presented.
We exclude certain securities from the computation of diluted earnings per share because the inclusion of these securities would have been anti-dilutive. The following table presents the outstanding securities that were excluded from the computation of diluted earnings per share and the number of common shares each was convertible into (amounts in thousands):
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2017
 
2016
 
2017
 
2016
 
 
Issued
Converted
 
Issued
Converted
 
Issued
Converted
 
Issued
Converted
Operating Partnership Units
 
1,917

1,917

 
1,917

1,917

 
1,917

1,917

 
1,917

1,917

Series D Preferred Shares
 
—

—

 
1,849

6,592

 
1,849

6,713

 
1,849

6,592

Performance Share Units
 
98

—

 
—

—

 
98

—

 
—

—

 
 
2,015

1,917

 
3,766

8,509

 
3,864

8,630

 
3,766

8,509