Quarterly report pursuant to Section 13 or 15(d)

Earnings per Common Share (Tables)

v2.4.0.8
Earnings per Common Share (Tables)
9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings per Share
The computations of basic and diluted earnings per share for the three and nine months ended September 30, 2014 and 2013 were as follows (in thousands, except per share data):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
3,658

 
$
1,709

 
$
2,761

 
$
4,104

Net loss attributable to noncontrolling interests
10

 

 
17

 

Allocation of earnings to unvested restricted share awards
(44
)
 
(32
)
 
11

 
(83
)
Adjusted income from continuing operations attributable to the controlling interests
3,624

 
1,677

 
2,789

 
4,021

Income from discontinued operations, including gain on sale of real estate, net of taxes

 
4,131

 
106,531

 
14,334

Allocation of earnings to unvested restricted share awards

 
(77
)
 
(335
)
 
(288
)
Adjusted income from discontinuing operations attributable to the controlling interests

 
4,054

 
106,196

 
14,046

Adjusted net income attributable to the controlling interests
$
3,624

 
$
5,731

 
$
108,985

 
$
18,067

Denominator:
 
 
 
 

 

Weighted average shares outstanding – basic
66,738

 
66,410

 
66,725

 
66,403

Effect of dilutive securities:
 
 
 
 
 
 
 
Operating partnership units

 
117

 

 
117

Employee stock options and restricted share awards
52

 
34

 
35

 
25

Weighted average shares outstanding – diluted
66,790

 
66,561

 
66,760

 
66,545

Earnings per common share, basic:
 
 
 
 
 
 
 
Continuing operations
$
0.05

 
$
0.03

 
$
0.04

 
$
0.06

Discontinued operations

 
0.06

 
1.59

 
0.21

 
$
0.05

 
$
0.09

 
$
1.63

 
$
0.27

Earnings per common share, diluted:

 

 

 

Continuing operations
$
0.05

 
$
0.03

 
$
0.04

 
$
0.06

Discontinued operations

 
0.06

 
1.59

 
0.21

 
$
0.05

 
$
0.09

 
$
1.63

 
$
0.27