Quarterly report pursuant to Section 13 or 15(d)

(Loss) Earnings Per Share of Common Stock

v3.19.3
(Loss) Earnings Per Share of Common Stock
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
(LOSS) EARNINGS PER SHARE OF COMMON STOCK
(LOSS) EARNINGS PER SHARE OF COMMON STOCK
The following table sets forth the computation of basic and diluted (loss) earnings per common share for the three and nine months ended September 30, 2019 and 2018, computed using the weighted average number of shares outstanding during the respective periods. Net (loss) earnings figures are presented net of non-controlling interests in the earnings per share calculations. The non-controlling limited partners’ outstanding OP Units (which may be redeemed for shares of common stock) have been excluded from the diluted per-share calculation, as there would be no effect on the amounts since the non-controlling limited partners’ share of earnings would also be added back to net (loss) earnings.
 
Three months ended September 30,
 
Nine months ended September 30,
 
2019
 
2018
 
2019
 
2018
 
(Dollars in thousands, except per-share amounts)
Net (loss) earnings attributable to common stockholders
$
(644
)
 
$
5,593

 
$
(1,860
)
 
$
3,551

Weighted average shares of common shares outstanding – basic and diluted
20,763,615

 
16,057,957

 
19,154,744

 
15,181,760

(Loss) earnings per common share – basic and diluted
$
(0.03
)
 
$
0.35

 
$
(0.10
)
 
$
0.23


The weighted-average number of OP Units held by non-controlling limited partners was 222,495 and 217,857 for the three and nine months ended September 30, 2019, respectively, and 683,527 and 857,041 for the three and nine months ended September 30, 2018, respectively.