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Earnings Per Share and Earnings Per Unit
 12 Months Ended
Dec. 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):
 
Year Ended December 31,
 
2018
 
2017
 
2016
Numerator for earnings per share - basic:
 
 
 
 
 
Net income
$
58,321

 
$
39,773

 
$
31,522

Net income attributable to noncontrolling interests:
 
 
 
 
 
Operating Partnership
(1,576
)
 
(1,136
)
 
(825
)
Partially owned properties
(515
)
 
(491
)
 
(716
)
Preferred distributions
(1,340
)
 
(731
)
 
(1,857
)
Numerator for earnings per share - basic:
$
54,890

 
$
37,415

 
$
28,124

Numerator for earnings per share - diluted:
 
 
 
 
 
Numerator for earnings per share - basic:
54,890

 
37,415

 
28,124

Operating Partnership net income
1,576

 
1,136

 
825

Numerator for earnings per share - diluted
$
56,466

 
$
38,551

 
$
28,949

Denominator for earnings per share - basic and diluted:
 
 
 
 
 
Weighted average number of shares outstanding - basic
182,064,064

 
163,123,109

 
126,143,114

Effect of dilutive securities:
 
 
 

 
 
Noncontrolling interest - Operating Partnership units
5,329,270

 
4,839,967

 
3,692,095

Restricted common shares
99,129

 
89,497

 
205,036

Restricted share units
34,299

 
178,726

 
426,648

Denominator for earnings per share - diluted
187,526,762

 
168,231,299

 
130,466,893

Earnings per share - basic
$
0.30

 
$
0.23

 
$
0.22

Earnings per share - diluted
$
0.30

 
$
0.23

 
$
0.22



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):
 
Year Ended December 31,
 
2018
 
2017
 
2016
Numerator for earnings per unit - basic and diluted:
 
 
 
 
 
Net income
$
58,321

 
$
39,773

 
$
31,522

Net income attributable to noncontrolling interests -
partially owned properties
(515
)
 
(491
)
 
(716
)
Preferred distributions
(1,340
)
 
(731
)
 
(1,857
)
Numerator for earnings per unit - basic and diluted
$
56,466

 
$
38,551

 
$
28,949

Denominator for earnings per unit - basic and diluted:
 
 
 
 
 
Weighted average number of units outstanding - basic
187,393,334

 
167,963,076

 
129,835,209

Effect of dilutive securities:
 
 
 

 
 
Restricted common shares
99,129

 
89,497

 
205,036

Restricted share units
34,299

 
178,726

 
426,648

Denominator for earnings per unit - diluted
187,526,762

 
168,231,299

 
130,466,893

Earnings per unit - basic
$
0.30

 
$
0.23

 
$
0.22

Earnings per unit - diluted
$
0.30

 
$
0.23

 
$
0.22