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Equity (Tables)
 9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
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
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, 2019
 
September 30, 2018
 
September 30, 2019
 
September 30, 2018
Net income attributable to common stockholders
$
15,882

 
$
16,342

 
$
32,646

 
$
42,761

Increase in additional paid-in capital for the conversion of OP Units into common stock
12,908

 
5,765

 
21,773

 
31,605

Change from net income attributable to common stockholders and transfers from non-controlling interests
$
28,790

 
$
22,107

 
$
54,419

 
$
74,366
Summary of restricted stock and LTIP unit activity
The following is a summary of restricted stock and LTIP unit activity for the nine months ended September 30, 2019:
 
Restricted Stock
 
LTIP Units
 
Weighted Average Grant Fair Value
Unvested balance at December 31, 2018
91,158

 
5,702,821

 
$
9.68

Vested
(35,724
)
 
(598,402
)
 
15.98

Granted
69,358

 
2,848,726

 
9.55

Forfeited or unearned
(5,762
)
 
(1,972,548
)
 
7.34

Unvested balance at September 30, 2019
119,030

 
5,980,597

 
$
9.72
Earnings per share
Earnings per share for the three and nine months ended September 30, 2019 and 2018 is computed as follows (amounts in thousands, except per share amounts):
 
Three Months Ended
 
Nine Months Ended
 
September 30, 2019
 
September 30, 2018
 
September 30, 2019
 
September 30, 2018
Numerator - Basic:
 
 
 
 
 
 
 
Net income
$
26,784

 
$
29,230

 
$
55,570

 
$
77,472

Private perpetual preferred unit distributions
(234
)
 
(234
)
 
(702
)
 
(702
)
Net income attributable to non-controlling interests
(10,668
)
 
(12,654
)
 
(22,222
)
 
(34,009
)
Earnings allocated to unvested shares
(13
)
 
(10
)
 
(33
)
 
(26
)
Net income attributable to common stockholders - basic
$
15,869

 
$
16,332

 
$
32,613

 
$
42,735

 
 
 
 
 
 
 
 
Numerator - Diluted:
 
 
 
 
 
 
 
Net income
$
26,784

 
$
29,230

 
$
55,570

 
$
77,472

Private perpetual preferred unit distributions
(234
)
 
(234
)
 
(702
)
 
(702
)
Earnings allocated to unvested shares
(13
)
 
(10
)
 
(33
)
 
(26
)
Net income attributable to common stockholders - diluted
$
26,537

 
$
28,986

 
$
54,835

 
$
76,744

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average shares outstanding - basic
178,352

 
167,657

 
177,428

 
165,613

Operating partnership units
119,799

 
129,821

 
120,689

 
131,567

Effect of dilutive securities:
 
 
 
 
 
 
 
   Stock-based compensation plans
—

 
—

 
—

 
1

Weighted average shares outstanding - diluted
298,151

 
297,478

 
298,117

 
297,181

 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
Basic
$
0.09

 
$
0.10

 
$
0.18

 
$
0.26

Diluted
$
0.09

 
$
0.10

 
$
0.18

 
$
0.26