Earnings Per Common Share

3 Months Ended

Mar. 31, 2020

The following table sets forth the computation of basic and diluted earnings per share:


	Three Months Ended
	March 31,
	2020		2019
	(In thousands, except per share data)
Net income	$	342	$	10,693
Net income attributable to noncontrolling interest	(8)		(250)
Allocation of income to restricted share awards	(136)		(132)
Income attributable to RPT	198		10,311
Preferred share dividends	(1,675)		(1,675)



Net income available to common shareholders - Basic and Diluted	$	(1,477)	$	8,636

Weighted average shares outstanding, Basic	79,909		79,744
Restricted stock awards using the treasury method ⁽¹⁾	—		187

Weighted average shares outstanding, Diluted	79,909		79,931

Income per common share, Basic	$	(0.02)	$	0.11
Income per common share, Diluted	$	(0.02)	$	0.11

⁽¹⁾Restricted stock awards are not included in the diluted per share calculation where the effect of their inclusion would be anti-dilutive.

We exclude certain securities from the computation of diluted earnings per share. 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 (in thousands):


	Three Months Ended March 31,
	2020			2019
	Outstanding	Convertible	Outstanding	Convertible
Operating Partnership Units	1,909	1,909	1,909	1,909
Series D Preferred Shares	1,849	7,014	1,849	6,891
Restricted Stock Awards	1,061	445	—	—
	4,819	9,368	3,758	8,800