Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2016

Schedule of Antidilutive Shares Excluded from Computation of Earnings Per Share

The following table presents the number of Preferred Operating Partnership units, and the potential common shares, that were excluded from the computation of earnings per share as their effect would have been anti-dilutive, assuming full conversion at the average share price for the quarter of $90.31.



	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2016		2015		2016		2015
	Number of Units (1)	Equivalent Shares (if converted)	Number of Units (1)	Equivalent Shares (if converted)	Number of Units (1)	Equivalent Shares (if converted)	Number of Units (1)	Equivalent Shares (if converted)
Series B Units	1,676,087	463,982	1,676,087	618,026	1,676,087	472,670	1,676,087	628,124
Series C Units	704,016	328,193	704,016	437,154	704,016	334,338	704,016	444,297
Series D Units	2,749,857	292,443	548,390	202,209	2,749,857	226,285	548,390	205,513
	5,129,960	1,084,618	2,928,493	1,257,389	5,129,960	1,033,293	2,928,493	1,277,934

(1) Represents the number of units outstanding as of the end of the periods presented.

Schedule of Computation of Earnings Per Common Share

The computation of earnings per common share was as follows for the periods presented:



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2016			2015			2016			2015
Net income attributable to common stockholders	$	83,044		$	55,339		$	165,636		$	109,081
Earnings and dividends allocated to participating securities	(214		)	(140		)	(380		)	(259		)
Earnings for basic computations	82,830			55,199			165,256			108,822
Earnings and dividends allocated to participating securities	—			—			380			—
Income allocated to noncontrolling interest - Preferred Operating Partnership (Series A Units) and Operating Partnership	5,398			4,276			10,872			7,911
Fixed component of income allocated to noncontrolling interest - Preferred Operating Partnership (Series A Units)	(1,271		)	(1,271		)	(2,542		)	(2,545		)
Net income for diluted computations	$	86,957		$	58,204		$	173,966		$	114,188

Weighted average common shares outstanding:
Average number of common shares outstanding - basic	124,914,467			116,861,678			124,678,293			116,491,710
Series A Units	875,480			875,480			875,480			875,480
OP Units	5,517,607			5,642,737			5,569,537			5,007,835
Unvested restricted stock awards included for treasury stock method	—			—			309,987			—
Shares related to exchangeable senior notes and dilutive stock options	718,361			1,095,995			719,222			1,102,216
Average number of common shares outstanding - diluted	132,025,915			124,475,890			132,152,519			123,477,241
Earnings per common share
Basic	$	0.66		$	0.47		$	1.33		$	0.93
Diluted	$	0.66		$	0.47		$	1.32		$	0.92