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Equity (Tables)
 6 Months Ended
Jun. 30, 2020
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
 
Six Months Ended
 
June 30, 2020
 
June 30, 2019
 
June 30, 2020
 
June 30, 2019
Net income attributable to common stockholders
$
(12,793
)
 
$
11,087

 
$
(8,298
)
 
$
16,764

Increase in additional paid-in capital for the conversion of OP Units into common stock
14,073

 
5,594

 
21,734

 
8,865

Change from net income attributable to common stockholders and transfers from non-controlling interests
$
1,280

 
$
16,681

 
$
13,436

 
$
25,629
Schedule of Equity Securities Repurchased
The following table summarizes our purchases of equity securities each of the three months ended June 30, 2020 and the month of July 2020:
Period
Total Number of Shares Purchased
 
Average Price Paid per Share
 
Total Number of Shares Purchased as Part of Publicly Announced Plan
 
Maximum Approximate Dollar Value Available for Future Purchase (in thousands)
April 2020
2,345,129

 
$
8.66

 
2,345,129

 
$
417,023

May 2020
3,913,709

 
$
7.66

 
3,913,709

 
$
387,057

June 2020
240,996

 
$
6.90

 
240,996

 
$
385,395

July 2020
656,318

 
$
6.72

 
656,318

 
$
380,982
Summary of restricted stock and LTIP unit activity
The following is a summary of restricted stock and LTIP unit activity for the six months ended June 30, 2020:
 
Restricted Stock
 
LTIP Units
 
Weighted Average Grant Fair Value
Unvested balance at December 31, 2019
118,918

 
5,986,569

 
$
9.73

Vested
(45,301
)
 
(719,046
)
 
15.62

Granted
161,449

 
5,011,693

 
5.43

Forfeited or unearned
(604
)
 
(864,056
)
 
10.96

Unvested balance at June 30, 2020
234,462

 
9,415,160

 
$
6.85
Earnings per share
Earnings per share for the three and six months ended June 30, 2020 and 2019 is computed as follows (amounts in thousands, except per share amounts):
 
Three Months Ended
 
Six Months Ended
 
June 30, 2020
 
June 30, 2019
 
June 30, 2020
 
June 30, 2019
Numerator - Basic:
 
 
 
 
 
 
 
Net income (loss)
$
(19,618
)
 
$
18,930

 
$
(11,330
)
 
$
28,786

Private perpetual preferred unit distributions
(1,047
)
 
(234
)
 
(2,097
)
 
(468
)
Net income (loss) attributable to non-controlling interests
7,872

 
(7,609
)
 
5,129

 
(11,554
)
Earnings allocated to unvested shares
(25
)
 
(13
)
 
(36
)
 
(20
)
Net income (loss) attributable to common stockholders - basic
$
(12,818
)
 
$
11,074

 
$
(8,334
)
 
$
16,744

 
 
 
 
 
 
 
 
Numerator - Diluted:
 
 
 
 
 
 
 
Net income (loss)
$
(19,618
)
 
$
18,930

 
$
(11,330
)
 
$
28,786

Private perpetual preferred unit distributions
(1,047
)
 
(234
)
 
(2,097
)
 
(468
)
Earnings allocated to unvested shares
(25
)
 
(13
)
 
(36
)
 
(20
)
Net income (loss) attributable to common stockholders - diluted
$
(20,690
)
 
$
18,683

 
$
(13,463
)
 
$
28,298

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average shares outstanding - basic
175,433

 
176,796

 
178,029

 
176,495

Operating partnership units
107,951

 
121,335

 
109,986

 
121,605

Effect of dilutive securities:
 
 
 
 
 
 
 
   Stock-based compensation plans
—

 
—

 
—

 
—

Weighted average shares outstanding - diluted
283,384

 
298,131

 
288,015

 
298,100

 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
Basic
$
(0.07
)
 
$
0.06

 
$
(0.05
)
 
$
0.09

Diluted
$
(0.07
)
 
$
0.06

 
$
(0.05
)
 
$
0.09