Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Reconciliation of Amounts Used in Calculating Basic and Diluted Net Income (Loss) Per Share

The following is a reconciliation of the amounts used in calculating basic and diluted net income per share (in thousands, except share and per share data):

	For the year ended
	December 31,
	2015			2014			2013
Numerator:
Net income	$	32,966		$	66,873		$	2,982
Dividends paid on unvested shares and LTIP units	(151		)	(216		)	(294		)
Undistributed earnings allocated to unvested shares and LTIP units	$	—		$	(324	)	$	—
Net income attributable to common shareholders	$	32,815		$	66,333		$	2,688
Denominator:
Weighted average number of common shares - basic	37,917,871			28,531,094			21,035,892
Effect of dilutive securities:
Unvested shares	404,414			315,630			247,939
Weighted average number of common shares - diluted	38,322,285			28,846,724			21,283,831
Basic income per Common Share:
Net income attributable to common shareholders per weighted average common share	$	0.87		$	2.32		$	0.13
Diluted income per Common Share:
Net income attributable to common shareholders per weighted average common share	$	0.86		$	2.30		$	0.13