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Equity (Tables)
 3 Months Ended
Mar. 31, 2018
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
 
March 31, 2018
 
March 31, 2017
Net income attributable to common stockholders
$
9,768

 
$
9,985

Increase in additional paid-in capital for the conversion of OP Units into common stock
10,162

 
7,811

Change from net income attributable to common stockholders and transfers from non-controlling interests
$
19,930

 
$
17,796
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, 2018:
 
Restricted Stock
 
LTIP Units
 
Weighted Average Grant Fair Value
Unvested balance at December 31, 2017
90,791

 
3,588,609

 
$
11.20

Vested
(28,123
)
 
(437,558
)
 
14.19

Granted
39,608

 
2,654,801

 
8.38

Forfeited or unearned
(6,101
)
 
(94,173
)
 
8.39

Unvested balance at March 31, 2018
96,175

 
5,711,679

 
$
9.70
Earnings Per Share
Earnings per share for the three months ended March 31, 2018 and 2017 is computed as follows (amounts in thousands, except per share amounts):
 
Three Months Ended,
 
March 31, 2018
 
March 31, 2017
Numerator - Basic:
 
 
 
Net income
$
18,058

 
$
19,145

Private perpetual preferred unit distributions
(234
)
 
(234
)
Net income attributable to non-controlling interests
(8,056
)
 
(8,926
)
Earnings allocated to unvested shares
(6
)
 
(7
)
Net income attributable to common stockholders - basic
$
9,762

 
$
9,978

 
 
 
 
Numerator - Diluted:
 
 
 
Net income
$
18,058

 
$
19,145

Private perpetual preferred unit distributions
(234
)
 
(234
)
Earnings allocated to unvested shares
(6
)
 
(7
)
Net income attributable to common stockholders - diluted
$
17,818

 
$
18,904

 
 
 
 
Denominator:
 
 
 
Weighted average shares outstanding - basic
162,667

 
156,493

Operating partnership units
134,157

 
139,895

Effect of dilutive securities:
 
 
 
   Stock-based compensation plans
3

 
775

   Exchangeable senior notes
—

 
799

Weighted average shares outstanding - diluted
296,827

 
297,962

 
 
 
 
Earnings per share:
 
 
 
Basic
$
0.06

 
$
0.06

Diluted
$
0.06

 
$
0.06