EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Summary of the components used to calculate basic and diluted earnings per share

Below is a summary of the components used to calculate basic and diluted earnings per share (in thousands, except per share):

	For the Three Months Ended March 31,
	2016		2015
Numerator:
Net income	$	48,734	$	10,591
Less: Preferred dividends	4,147		4,147
Allocation to participating securities	29		21
Attributable to non-controlling interest	249		57
Net income attributable to common stockholders, net of amount allocated to participating securities	$	44,309	$	6,366
Denominator:
Weighted average common shares outstanding - basic	86,360		85,704
Dilutive effect of equity-based compensation awards	810		1,171
Weighted average common shares outstanding - diluted	87,170		86,875
Earnings per share:
Basic and diluted net income per share	$	0.51	$	0.07