Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per share:
Earnings Per Share
 
For the Three Months Ended
 
March 31, 2014
 
March 31, 2013
Net income attributable to CORR Stockholders
$
2,105,159

 
$
2,412,753

Basic and diluted weighted average shares (1)
29,973,357

 
24,141,720

Basic and diluted earnings per share attributable to CORR Stockholders
$
0.07

 
$
0.10

(1)
Warrants to purchase shares of common stock were outstanding during the periods reflected in the table above, but were not included in the computation of diluted earnings per share because the warrants’ exercise price was greater than the average market value of the common shares and, therefore, the effect would be anti-dilutive.
The decrease in earnings per share for the three-month period ended March 31, 2014 as compared to the three-month period ended March 31, 2013 is primarily due to the issuance of 7,475,000 shares of common stock to fund the acquisition of the Portland Terminal Facility and receiving only a pro rata amount of the quarterly rent from the Portland Terminal Facility, from the date of acquisition through March 31, 2014.