EPS (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The table below presents the calculation of basic and diluted EPS:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Numerator (In thousands):
Net income attributable to common stockholders	$	2,030	$	33,966	$	28,953	$	62,667
Allocation to participating securities: Unvested LTIP Units	(206)		(139)		(413)		(265)
Net income attributable to common stockholders - basic and diluted	$	1,824	$	33,827	$	28,540	$	62,402
Denominator (In thousands):
Weighted average shares of common stock outstanding - basic and diluted(2)	175,375		172,498		175,374		171,366
Net income per common share - basic and diluted	$	0.01	$	0.20	$	0.16	$	0.36

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(1) Outstanding OP Units and vested LTIP Units are not included in the denominator in calculating diluted EPS, even though they may be exchanged under certain conditions for common stock on a one-for-one basis, because their associated net income (equal on a per unit basis to the Net income per common share - diluted) was already deducted in calculating Net income attributable to common stockholders. Accordingly, any exchange would not have any effect on diluted EPS. The table below presents the OP Units and vested LTIP Units outstanding for the respective periods:

	Three Months Ended June 30,		Six Months Ended June 30,
(In thousands)	2020	2019	2020	2019
OP Units	28,293	26,283	28,294	26,311
Vested LTIP Units	808	1,830	803	1,830