Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

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.

	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2019	2018	2019	2018
	Equivalent Shares (if converted)	Equivalent Shares (if converted)	Equivalent Shares (if converted)	Equivalent Shares (if converted)
Series B Units	362,382	451,386	396,276	465,115
Series C Units (1)	—	319,283	—	328,994
Series D Units	1,038,538	—	1,074,417	1,021,901
	1,400,920	770,669	1,470,693	1,816,010

(1)    The remainder of the Series C Units were converted to OP Units on April 25, 2019.

Schedule of Computation of Earnings Per Common Share

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

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2019			2018			2019			2018
Net income attributable to common stockholders	$	108,087		$	130,418		$	307,685		$	313,827
Earnings and dividends allocated to participating securities	(165		)	(219		)	(508		)	(550		)
Earnings for basic computations	107,922			130,199			307,177			313,277
Earnings and dividends allocated to participating securities	165			—			—			550
Income allocated to noncontrolling interest - Preferred Operating Partnership Units and Operating Partnership Units	6,100			7,336			17,539			17,191
Fixed component of income allocated to noncontrolling interest - Preferred Operating Partnership (Series A Units)	(572		)	(572		)	(1,716		)	(1,716		)
Net income for diluted computations	$	113,615		$	136,963		$	323,000		$	329,302
Weighted average common shares outstanding:
Average number of common shares outstanding - basic	128,776,549			126,466,837			127,830,272			125,959,926
OP Units	6,050,028			5,636,845			6,032,656			5,650,599
Series A Units	875,480			875,480			875,480			875,480
Series D Units	—			991,738			—			—
Unvested restricted stock awards included for treasury stock method	209,963			—			—			250,630
Shares related to exchangeable senior notes and dilutive stock options	1,406,455			269,390			1,425,891			279,055
Average number of common shares outstanding - diluted	137,318,475			134,240,290			136,164,299			133,015,690
Earnings per common share
Basic	$	0.84		$	1.03		$	2.40		$	2.49
Diluted	$	0.83		$	1.02		$	2.37		$	2.48