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Equity (Tables)
 9 Months Ended
Sep. 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
 
 Nine Months Ended
 
September 30, 2017
 
September 30, 2016
 
September 30, 2017
 
September 30, 2016
Net income attributable to common stockholders
$
18,806

 
$
15,973

 
$
45,375

 
$
34,490

Increase in additional paid-in capital for the conversion of OP Units into common stock
1,953

 
5,016

 
11,087

 
20,217

Change from net income attributable to common stockholders and transfers from non-controlling interests
$
20,759

 
$
20,989

 
$
56,462

 
$
54,707
Summary of Restricted Stock and Long-Term Incentive Plan Activity
The following is a summary of restricted stock and LTIP unit activity for the nine months ended September 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
(17,923
)
 
(323,982
)
 
13.74

Granted
34,407

 
1,372,574

 
13.77

Forfeited or unearned
(2,509
)
 
(77,227
)
 
5.36

Unvested balance at September 30, 2017
121,768

 
3,852,994

 
$
11.11
Earnings Per Share
Earnings per share for the three and nine months ended September 30, 2017 and 2016 is computed as follows (amounts in thousands, except per share amounts):
 
Three Months Ended,
 
Nine Months Ended,
 
September 30, 2017
 
September 30, 2016
 
September 30, 2017
 
September 30, 2016
Numerator - Basic:
 
 
 
 
 
 
 
Net income
$
35,489

 
$
32,897

 
$
85,993

 
$
74,242

Private perpetual preferred unit distributions
(234
)
 
(234
)
 
(702
)
 
(702
)
Net income attributable to non-controlling interests
(16,449
)
 
(16,690
)
 
(39,916
)
 
(39,050
)
Earnings allocated to unvested shares
(11
)
 
(11
)
 
(28
)
 
(27
)
Net income attributable to common stockholders - basic
$
18,795

 
$
15,962

 
$
45,347

 
$
34,463

 
 
 
 
 
 
 
 
Numerator - Diluted:
 
 
 
 
 
 
 
Net income
$
35,489

 
$
32,897

 
$
85,993

 
$
74,242

Private perpetual preferred unit distributions
(234
)
 
(234
)
 
(702
)
 
(702
)
Earnings allocated to unvested shares
(11
)
 
(11
)
 
(28
)
 
(27
)
Net income attributable to common stockholders - diluted
$
35,244

 
$
32,652

 
$
85,263

 
$
73,513

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average shares outstanding - basic
158,102

 
136,831

 
157,796

 
126,740

Operating partnership units
138,287

 
141,908

 
138,593

 
143,648

Effect of dilutive securities:
 
 
 
 
 
 
 
   Stock-based compensation plans
762

 
1,090

 
848

 
378

   Exchangeable senior notes
720

 
785

 
852

 
262

Weighted average shares outstanding - diluted
297,871

 
280,614

 
298,089

 
271,028

 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
Basic
$
0.12

 
$
0.12

 
$
0.29

 
$
0.27

Diluted
$
0.12

 
$
0.12

 
$
0.29

 
$
0.27