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Earnings Per Share and Earnings Per Unit
 3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Earnings Per Share and Earnings Per Unit Earnings Per Share and Earnings Per Unit
 
The following table shows the amounts used in computing the Trust’s basic and diluted earnings per share (in thousands, except share and per share data):
 
Three Months Ended
March 31,
 
2018
 
2017
Numerator for earnings per share - basic:
 

 
 

Net income
$
11,332

 
$
6,716

Net income attributable to noncontrolling interests:
 
 
 
Operating Partnership
(313
)
 
(147
)
Partially owned properties
(111
)
 
(167
)
Preferred distributions
(487
)
 
(211
)
Numerator for earnings per share - basic
$
10,421


$
6,191

Numerator for earnings per share - diluted:
 
 
 
Numerator for earnings per share - basic
$
10,421

 
$
6,191

Operating Partnership net income
313

 
147

Numerator for earnings per share - diluted
$
10,734


$
6,338

Denominator for earnings per share - basic and diluted:
 
 
 
Weighted average number of shares outstanding - basic
181,809,570

 
138,986,629

Effect of dilutive securities:
 

 
 

Noncontrolling interest - Operating Partnership units
5,454,494

 
3,186,117

Restricted common shares
53,179

 
96,643

Restricted share units
—

 
336,541

Denominator for earnings per share - diluted:
187,317,243

 
142,605,930

Earnings per share - basic
$
0.06

 
$
0.04

Earnings per share - diluted
$
0.06

 
$
0.04



For the three months ended March 31, 2018, total restricted share units of 600,313 were excluded from the computation of diluted earnings per share and diluted earnings per unit as their impact would have been anti-dilutive.

The following table shows the amounts used in computing the Operating Partnership’s basic and diluted earnings per unit (in thousands, except unit and per unit data):
 
Three Months Ended
March 31,
 
2018
 
2017
Numerator for earnings per unit - basic and diluted:
 
 
 
Net income
$
11,332

 
$
6,716

Net income attributable to noncontrolling interests - partially owned properties
(111
)
 
(167
)
Preferred distributions
(487
)
 
(211
)
Numerator for earnings per unit - basic and diluted
$
10,734

 
$
6,338

Denominator for earnings per unit - basic and diluted:
 
 
 
Weighted average number of units outstanding - basic
187,264,064

 
142,172,746

Effect of dilutive securities:
 
 
 

Restricted common shares
53,179

 
96,643

Restricted share units
—

 
336,541

Denominator for earnings per unit - diluted
187,317,243

 
142,605,930

Earnings per unit - basic
$
0.06

 
$
0.04

Earnings per unit - diluted
$
0.06

 
$
0.04