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EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 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
September 30,
 
 For the Nine Months Ended
September 30,
 
 
2016
 
2015
 
2016
 
2015
Numerator:
 
 

 
 

 
 

 
 

Net income
 
$
27,198

 
$
13,606

 
$
97,887

 
$
40,498

Less: Preferred dividends
 
(4,993
)
 
(4,147
)
 
(13,287
)
 
(12,441
)
Allocation to participating securities
 
(47
)
 
(29
)
 
(127
)
 
(89
)
Attributable to non-controlling interest
 
(115
)
 
(66
)
 
(454
)
 
(220
)
Net income attributable to common stockholders, net of amount allocated to participating securities
 
$
22,043

 
$
9,364

 
$
84,019

 
$
27,748

Denominator:
 
 

 
 

 
 

 
 

Weighted average common shares outstanding - basic
 
86,492

 
85,995

 
86,428

 
85,844

Dilutive effect of equity-based compensation awards
 
909

 
1,070

 
891

 
1,156

Weighted average common shares outstanding - diluted
 
87,401

 
87,065

 
87,319

 
87,000

Earnings per share:
 
 

 
 

 
 

 
 

Basic
 
$
0.25

 
$
0.11

 
$
0.97

 
$
0.32

Diluted
 
$
0.25

 
$
0.11

 
$
0.96

 
$
0.32