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Earnings Per Share and Earnings Per Unit
 6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Earnings Per Share and Earnings Per Unit Earnings Per Share and Earnings Per Unit
 
For the three and six months ended June 30, 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 Trust’s basic and diluted earnings per share (in thousands, except share and per share data):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2019
 
2018
 
2019
 
2018
Numerator for earnings per share - basic:
 

 
 

 
 

 
 

Net income
$
7,316

 
$
12,062

 
$
18,816

 
$
23,394

Net income attributable to noncontrolling interests:
 
 
 
 
 
 
 
Operating Partnership
(200
)
 
(331
)
 
(505
)
 
(644
)
Partially owned properties
(136
)
 
(144
)
 
(274
)
 
(255
)
Preferred distributions
(294
)
 
(284
)
 
(578
)
 
(771
)
Numerator for earnings per share - basic
$
6,686


$
11,303


$
17,459

 
$
21,724

Numerator for earnings per share - diluted:
 
 
 
 
 
 
 
Numerator for earnings per share - basic
$
6,686

 
$
11,303

 
$
17,459

 
$
21,724

Operating Partnership net income
200

 
331

 
505

 
644

Numerator for earnings per share - diluted
$
6,886


$
11,634


$
17,964

 
$
22,368

Denominator for earnings per share - basic and diluted:
 
 
 
 
 
 
 
Weighted average number of shares outstanding - basic
185,239,471

 
182,002,062

 
183,963,257

 
181,906,348

Effect of dilutive securities:
 

 
 

 
 
 
 

Noncontrolling interest - Operating Partnership units
5,478,242

 
5,392,557

 
5,328,906

 
5,423,354

Restricted common shares
41,551

 
36,513

 
84,604

 
57,509

Restricted share units
56,628

 
—

 
322,517

 
—

Denominator for earnings per share - diluted:
190,815,892

 
187,431,132

 
189,699,284

 
187,387,211

Earnings per share - basic
$
0.04

 
$
0.06

 
$
0.09

 
$
0.12

Earnings per share - diluted
$
0.04

 
$
0.06

 
$
0.09

 
$
0.12



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
June 30,
 
Six Months Ended
June 30,
 
2019
 
2018
 
2019
 
2018
Numerator for earnings per unit - basic and diluted:
 
 
 
 
 
 
 
Net income
$
7,316

 
$
12,062

 
$
18,816

 
$
23,394

Net income attributable to noncontrolling interests - partially owned properties
(136
)
 
(144
)
 
(274
)
 
(255
)
Preferred distributions
(294
)
 
(284
)
 
(578
)
 
(771
)
Numerator for earnings per unit - basic and diluted
$
6,886

 
$
11,634

 
$
17,964

 
$
22,368

Denominator for earnings per unit - basic and diluted:
 
 
 
 
 
 
 
Weighted average number of units outstanding - basic
190,717,713

 
187,394,619

 
189,292,163

 
187,329,702

Effect of dilutive securities:
 
 
 

 
 
 
 

Restricted common shares
41,551

 
36,513

 
84,604

 
57,509

Restricted share units
56,628

 
—

 
322,517

 
—

Denominator for earnings per unit - diluted
190,815,892

 
187,431,132

 
189,699,284

 
187,387,211

Earnings per unit - basic
$
0.04

 
$
0.06

 
$
0.09

 
$
0.12

Earnings per unit - diluted
$
0.04

 
$
0.06

 
$
0.09

 
$
0.12