Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share of Common Stock

v3.5.0.2
Earnings Per Share of Common Stock
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share of Common Stock
EARNINGS (LOSS) PER SHARE OF COMMON STOCK
The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2016 and 2015, 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 calculation, 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 June 30,
 
For the Six Months Ended June 30,
 
 
2016
 
2015
 
2016
 
2015
Net income (loss) attributable to the Company
 
$
107,813

 
$
(30,289
)
 
$
342,229

 
$
(5,715
)
Weighted average number of common shares outstanding – basic and diluted
 
9,992,941

 
8,439,855

 
9,992,941

 
8,098,681

Earnings (loss) per common share – basic and diluted
 
$
0.01

 
$
0.00

 
$
0.03

 
$
0.00


For the three and six months ended June 30, 2016, the weighted-average number of OP Units held by non-controlling limited partners was 745,879 and 491,788, respectively. There were no OP Units held by anyone other than the Company during 2015.