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Equity (Tables)
 6 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Change in Net Income Attributable to Common Shareholders
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
 
Six Months Ended
 
June 30, 2017
 
June 30, 2016
 
June 30, 2017
 
June 30, 2016
Net income attributable to common stockholders
$
16,584

 
$
11,089

 
$
26,569

 
$
18,517

Increase in additional paid-in capital for the conversion of OP Units into common stock
1,323

 
8,343

 
9,134

 
15,201

Change from net income attributable to common stockholders and transfers from non-controlling interests
$
17,907

 
$
19,432

 
$
35,703

 
$
33,718
Summary of Restricted Stock and Long-Term Incentive Plan Activity
The following is a summary of restricted stock and LTIP unit activity for the six months ended June 30, 2017:
 
Restricted Stock
 
LTIP Units
 
Weighted Average Grant Fair Value
Unvested balance at December 31, 2016
107,793

 
2,881,629

 
$
10.01

Vested
(17,552
)
 
(307,500
)
 
13.66

Granted
34,407

 
1,372,574

 
13.77

Forfeited or unearned
(1,531
)
 
(77,227
)
 
5.27

Unvested balance at June 30, 2017
123,117

 
3,869,476

 
$
11.13
Earnings Per Share
Earnings per share for the three and six months ended June 30, 2017 and 2016 is computed as follows (amounts in thousands, except per share amounts):
 
Three Months Ended,
 
Six Months Ended,
 
June 30, 2017
 
June 30, 2016
 
June 30, 2017
 
June 30, 2016
Numerator - Basic:
 
 
 
 
 
 
 
Net income
$
31,359

 
$
24,640

 
$
50,504

 
$
41,345

Private perpetual preferred unit distributions
(234
)
 
(234
)
 
(468
)
 
(468
)
Net income attributable to non-controlling interests
(14,541
)
 
(13,317
)
 
(23,467
)
 
(22,360
)
Earnings allocated to unvested shares
(10
)
 
(10
)
 
(17
)
 
(18
)
Net income attributable to common stockholders - basic
$
16,574

 
$
11,079

 
$
26,552

 
$
18,499

 
 
 
 
 
 
 
 
Numerator - Diluted:
 
 
 
 
 
 
 
Net income
$
31,359

 
$
24,640

 
$
50,504

 
$
41,345

Private perpetual preferred unit distributions
(234
)
 
(234
)
 
(468
)
 
(468
)
Earnings allocated to unvested shares
(10
)
 
(215
)
 
(17
)
 
(387
)
Net income attributable to common stockholders - diluted
$
31,115

 
$
24,191

 
$
50,019

 
$
40,490

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average shares outstanding - basic
157,921

 
122,502

 
157,265

 
121,640

Operating partnership units
138,467

 
143,665

 
139,123

 
144,511

Effect of dilutive securities:
 
 
 
 
 
 
 
   Stock-based compensation plans
973

 
—

 
874

 
970

   Exchangeable senior notes
1,037

 
—

 
918

 
—

Weighted average shares outstanding - diluted
298,398

 
266,167

 
298,180

 
267,121

 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
Basic
$
0.10

 
$
0.09

 
$
0.17

 
$
0.15

Diluted
$
0.10

 
$
0.09

 
$
0.17

 
$
0.15