Equity (Tables)

12 Months Ended

Dec. 31, 2018

Stockholders' Equity Note Disclosure, Disclosure of Compensation Related Costs, Share-based Payments and Earnings Per Share [Abstract]

Schedule of 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):

	Year ended December 31,
	2018		2017		2016
Net income attributable to common stockholders	$	65,603	$	62,647	$	51,456
Increase in additional paid-in capital for the conversion of OP Units into common stock	70,452		23,529		24,044
Change from net income attributable to common stockholders and transfers from noncontrolling interests	$	136,055	$	86,176	$	75,500

Dividends Declared

The following table summarizes the dividends paid on our Class A common stock and Class B common stock for the years ended December 31, 2018, 2017 and 2016:    

Record Date	Payment Date	Amount per Share
December 17, 2018	December 31, 2018	$0.105
September 14, 2018	September 28, 2018	$0.105
June 15, 2018	June 29, 2018	$0.105
March 15, 2018	March 30, 2018	$0.105
December 15, 2017	December 29, 2017	$0.105
September 15, 2017	September 29, 2017	$0.105
June 15, 2017	June 30, 2017	$0.105
March 15, 2017	March 31, 2017	$0.105
December 15, 2016	December 29, 2016	$0.105
September 19, 2016	September 30, 2016	$0.105
June 15, 2016	June 30, 2016	$0.105
March 16, 2016	March 31, 2016	$0.085

Summary of Restricted Stock and Long-Term Incentive Plan Activity

The following is a summary of restricted stock and LTIP unit activity for the year ended December 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	(30,693	)	(495,303	)	14.59
Granted	39,608		2,719,801		8.54
Forfeited or unearned	(8,548	)	(110,286	)	8.50
Unvested balance at December 31, 2018	91,158		5,702,821		$	9.68

Schedule of Earnings Per Share, Basic and Diluted

Earnings per share for the years ended December 31, 2018, 2017 and 2016 is computed as follows (amounts in thousands, except per share amounts):

	For the Year Ended December 31,
	2018			2017			2016
Numerator - Basic:
Net income	$	117,253		$	118,253		$	107,250
Private perpetual preferred unit distributions	(936		)	(936		)	(936		)
Net income attributable to non-controlling interests	(50,714		)	(54,670		)	(54,858		)
Earnings allocated to unvested shares	(38		)	(36		)	(36		)
Net income attributable to common stockholders - basic	$	65,565		$	62,611		$	51,420
Numerator - Diluted:
Net income	$	117,253		$	118,253		$	107,250
Private perpetual preferred unit distributions	(936		)	(936		)	(936		)
Earnings allocated to unvested shares	(38		)	(36		)	(36		)
Net income attributable to common stockholders - diluted	$	116,279		$	117,281		$	106,278
Denominator:
Weighted average shares outstanding - basic	167,571			158,380			133,881
Operating partnership units	129,687			138,075			142,967
Effect of dilutive securities:
Stock-based compensation plans	1			775			454
Exchangeable senior notes	—			819			266
Weighted average shares outstanding - diluted	297,259			298,049			277,568
Earnings per share - basic	$	0.39		$	0.40		$	0.38
Earnings per share - diluted	$	0.39		$	0.39		$	0.38