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Equity Compensation Plans (Tables)
 6 Months Ended
Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of unvested restricted shares and restricted stock units
The following table summarizes the Company’s unvested restricted shares as of and for the six months ended June 30, 2018:

Unvested
Restricted
Shares

Weighted Average
Grant Date
Fair Value per
Restricted Share
Balance as of January 1, 2018
496


$
14.81

Shares granted (a)
382


$
12.81

Shares vested
(345
)

$
14.64

Shares forfeited
(12
)
 
$
13.26

Balance as of June 30, 2018 (b)
521


$
13.50

(a)
Shares granted vest over periods ranging from 0.9 years to three years in accordance with the terms of applicable award agreements.
(b)
As of June 30, 2018, total unrecognized compensation expense related to unvested restricted shares was $3,984, which is expected to be amortized over a weighted average term of 1.4 years.
The following table summarizes the Company’s unvested performance restricted stock units (RSUs) as of and for the six months ended June 30, 2018:
 
Unvested
RSUs
 
Weighted Average
Grant Date
Fair Value
per RSU
RSUs eligible for future conversion as of January 1, 2018
555

 
$
14.60

RSUs granted (a)
291

 
$
14.36

Conversion of RSUs to common stock and restricted shares (b)
(141
)
 
$
14.10

RSUs ineligible for conversion
(56
)
 
$
15.36

RSUs eligible for future conversion as of June 30, 2018 (c)
649

 
$
14.54

(a)
Assumptions and inputs as of the grant dates included a weighted average risk-free interest rate of 2.04%, the Company’s historical common stock performance relative to the peer companies within the National Association of Real Estate Investment Trusts (NAREIT) Shopping Center Index and the Company’s weighted average common stock dividend yield of 5.00%. Subject to continued employment, in 2021, following the performance period which concludes on December 31, 2020, one-third of the RSUs that are earned will convert into shares of common stock and two-thirds will convert into restricted shares with a one year vesting term.
(b)
On February 5, 2018, 141 RSUs converted into 42 shares of common stock and 65 restricted shares that will vest on December 31, 2018, subject to continued employment through such date, after applying a conversion rate of 76% based upon the Company’s Total Shareholder Return (TSR) relative to the TSRs of its peer companies, for the performance period that concluded on December 31, 2017. An additional 16 shares of common stock were also issued representing the dividends that would have been paid on the earned awards during the performance period.
(c)
As of June 30, 2018, total unrecognized compensation expense related to unvested RSUs was $5,683, which is expected to be amortized over a weighted average term of 2.7 years.