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EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2017
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,
 
 
2017
 
2016
Numerator:
 
 

 
 

Net income
 
$
33,206

 
$
48,734

Less: Preferred dividends
 
(4,200
)
 
(4,147
)
Allocation to participating securities
 
(114
)
 
(29
)
Attributable to non-controlling interest
 
(120
)
 
(249
)
Net income attributable to common stockholders, net of amount allocated to participating securities
 
$
28,772

 
$
44,309

Denominator:
 
 

 
 

Weighted average common shares outstanding - basic
 
92,762

 
86,360

Dilutive effect of equity-based compensation awards
 
468

 
810

Weighted average common shares outstanding - diluted
 
93,230

 
87,170

Earnings per share:
 
 

 
 

Basic and diluted
 
$
0.31

 
$
0.51