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The following table sets forth the computation of basic and diluted earnings (loss) per common share for the years ended December 31, 2020, 2019 and 2018 (in thousands, except per share amounts):
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Year Ended December 31, |
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2020 |
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2019 |
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2018 |
Earnings (loss) per common share - basic and diluted |
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| Numerator |
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| Net income |
$ |
79,478 |
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$ |
66,013 |
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$ |
56,326 |
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Net income attributable to noncontrolling interests |
(30,869) |
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(62,030) |
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(42,217) |
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Net income attributable to National Storage Affiliates Trust |
48,609 |
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3,983 |
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14,109 |
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| Distributions to preferred shareholders |
(13,097) |
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(12,390) |
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(10,350) |
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Distributed and undistributed earnings allocated to participating securities |
(44) |
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(35) |
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(27) |
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Net income (loss) attributable to common shareholders - basic and diluted |
$ |
35,468 |
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$ |
(8,442) |
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$ |
3,732 |
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Denominator |
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Weighted average shares outstanding - basic |
66,547 |
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58,208 |
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53,293 |
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Effect of dilutive securities: |
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| Weighted average effect of outstanding forward offering agreement |
60 |
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— |
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— |
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Weighted average shares outstanding - diluted |
66,607 |
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58,208 |
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53,293 |
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| Earnings (loss) per share - basic and diluted |
$ |
0.53 |
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$ |
(0.15) |
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$ |
0.07 |
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Dividends declared per common share |
$ |
1.35 |
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$ |
1.27 |
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$ |
1.16 |
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