Earnings Per Common Share

6 Months Ended

Jun. 30, 2020

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:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
	(In thousands, except per share data)
Net (loss) income	$	(2,956)	$	2,962	$	(2,614)	$	13,655
Net loss (income) attributable to noncontrolling interest	68		(69)		60		(319)
Allocation of loss (income) to restricted share awards	—		(116)		(136)		(248)
(Loss) Income attributable to RPT	(2,888)		2,777		(2,690)		13,088
Preferred share dividends	(1,675)		(1,675)		(3,350)		(3,350)
Net (loss) income available to common shareholders - Basic and Diluted	$	(4,563)	$	1,102	$	(6,040)	$	9,738
Weighted average shares outstanding, Basic	79,976		79,764		79,942		79,754
Restricted stock awards using the treasury method (1)	—		392		—		394
Weighted average shares outstanding, Diluted	79,976		80,156		79,942		80,148
Income per common share, Basic	$	(0.06)	$	0.01	$	(0.08)	$	0.12
Income per common share, Diluted	$	(0.06)	$	0.01	$	(0.08)	$	0.12

⁽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 June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
	Outstanding	Convertible	Outstanding	Convertible	Outstanding	Convertible	Outstanding	Convertible
Operating Partnership Units	1,909	1,909	1,909	1,909	1,909	1,909	1,909	1,909
Series D Preferred Shares	1,849	7,014	1,849	6,923	1,849	7,014	1,849	6,923
Restricted Stock Awards	1,073	100	—	—	1,073	299	—	—
	4,831	9,023	3,758	8,832	4,831	9,222	3,758	8,832