Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share of Common Stock

v3.8.0.1
Earnings Per Share of Common Stock
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
EARNINGS PER SHARE OF COMMON STOCK
EARNINGS PER SHARE OF COMMON STOCK
The following table sets forth the computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2017 and 2016, computed using the weighted average number of shares outstanding during the respective periods. The non-controlling limited partners’ outstanding OP Units (which may be redeemed for shares of common stock) have been excluded from the diluted earnings per share calculations, as there would be no effect on the amounts since the non-controlling limited partners’ share of income would also be added back to net income. Net income figures are presented net of non-controlling interests in the earnings per share calculations.
 
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
 
2017
 
2016
 
2017
 
2016
 
 
(Dollars in thousands, except per-share amounts)
Net (loss) income attributable to the Company
 
$
(221
)
 
$
32

 
$
158

 
$
374

Weighted average number of common shares outstanding – basic and diluted
 
12,271,925

 
10,018,331

 
11,512,968

 
10,001,466

(Loss) earnings per common share – basic and diluted
 
$
(0.02
)
 
$
0.00

 
$
0.01

 
$
0.04


The weighted-average number of OP Units held by non-controlling limited partners was 1,444,435 and 1,447,633 for the three and nine months ended September 30, 2017, respectively, and 854,116 and 613,446 for the three and nine months ended September 30, 2016, respectively.