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EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Summary of 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 amounts):
 
 
 
2019
 
2018
 
2017
Numerator:
 
 

 
 

 
 

Net income
 
$
82,348

 
$
91,126

 
$
99,521

Less: Preferred dividends
 
(14,838
)
 
(16,671
)
 
(17,408
)
Premium on redemption of preferred stock
 
—

 
(3,277
)
 
(2,572
)
Allocation to participating securities
 
(309
)
 
(271
)
 
(307
)
Attributable to non-controlling interest in Operating Partnership
 
(157
)
 
(205
)
 
(307
)
Attributable to non-controlling interest in joint venture
 
419

 
—

 
—

Net income attributable to common stockholders, net of amount allocated to participating securities
 
$
67,463

 
$
70,702

 
$
78,927

Denominator:
 
 

 
 

 
 

Weighted average common shares outstanding - basic
 
103,887

 
103,623

 
99,406

Dilutive effect of equity-based compensation awards
 
52

 
219

 
374

Weighted average common shares outstanding - diluted
 
103,939

 
103,842

 
99,780

Earnings per share:
 
 

 
 

 
 

Basic and diluted
 
$
0.65

 
$
0.68

 
$
0.79