Equity (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of Change in Net Income Attributable to Common Shareholders [Table Text Block]

The following is net income attributable to common stockholders and the issuance of our class A shares in exchange for the conversion of OP units into common stock (amounts in thousands):



	Three Months Ended March 31, 2015
Net income attributable to common stockholders	$	3,138
Increase in additional paid-in capital for the conversion of OP units into common stock	19,493
Change from net income attributable to common stockholders and transfers from noncontrolling interests	$	22,631

Summary of Restricted Stock and Long-Term Incentive Plan Activity

The following is a summary of restricted stock and LTIP unit activity for the three months ended March 31, 2015:



	Restricted Stock		LTIP Units		Weighted Average Grant Price
Unvested balance at December 31, 2014	102,296		1,194,660		$	13.78
Vested	(6,261	)	(50,932	)	14.76
Granted	28,630		426,098		18.14
Forfeited	(3,255	)	—		13.77
Unvested balance at March 31, 2015	121,410		1,569,826		$	14.92

Schedule of Earnings Per Share, Basic and Diluted

Earnings per share for the three months ended March 31, 2015 and 2014 is computed as follows (amounts in thousands, except per share amounts):



	Three Months Ended
	March 31, 2015			March 31, 2014
Numerator - Basic:
Net income	$	7,888		$	11,231
Private perpetual preferred unit distributions	(234		)	—
Net income attributable to non-controlling interests	(4,516		)	(6,862		)
Earnings allocated to unvested shares	(7		)	(10		)
Net income attributable to common stockholders - basic	$	3,131		$	4,359

Numerator - Diluted:
Net income	$	7,888		$	11,231
Private perpetual preferred unit distributions	(234		)	—
Earnings allocated to unvested shares and LTIP units	(144		)	(122		)
Net income attributable to common stockholders - diluted	$	7,510		$	11,109

Denominator:
Weighted average shares outstanding - basic	109,400			95,466
Operating partnership units	156,410			148,959
Weighted average shares outstanding - diluted	265,810			244,425

Earnings per share:
Basic	$	0.03		$	0.05
Diluted	$	0.03		$	0.05

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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