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Earnings Per Share and Earnings Per Unit
 3 Months Ended
Mar. 31, 2020
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,
 
2020
 
2019
Numerator for earnings per share - basic:
 

 
 

Net income
$
14,960

 
$
11,500

Net income attributable to noncontrolling interests:
 
 
 
Operating Partnership
(404
)
 
(305
)
Partially owned properties
(142
)
 
(138
)
Preferred distributions
(317
)
 
(284
)
Numerator for earnings per share - basic
$
14,097

 
$
10,773

Numerator for earnings per share - diluted:
 
 
 
Numerator for earnings per share - basic
$
14,097

 
$
10,773

Operating Partnership net income
404

 
305

Numerator for earnings per share - diluted
$
14,501

 
$
11,078

Denominator for earnings per share - basic and diluted:
 
 
 
Weighted average number of shares outstanding - basic
196,211,728

 
182,672,863

Effect of dilutive securities:
 
 
 

Noncontrolling interest - Operating Partnership units
5,663,124

 
5,177,912

Restricted common shares
87,322

 
104,784

Restricted share units
880,166

 
541,749

Denominator for earnings per share - diluted:
202,842,340

 
188,497,308

Earnings per share - basic
$
0.07

 
$
0.06

Earnings per share - diluted
$
0.07

 
$
0.06



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,
 
2020
 
2019
Numerator for earnings per unit - basic and diluted:
 
 
 
Net income
$
14,960

 
$
11,500

Net income attributable to noncontrolling interests - partially owned properties
(142
)
 
(138
)
Preferred distributions
(317
)
 
(284
)
Numerator for earnings per unit - basic and diluted
$
14,501

 
$
11,078

Denominator for earnings per unit - basic and diluted:
 
 
 
Weighted average number of units outstanding - basic
201,874,852

 
187,850,775

Effect of dilutive securities:
 
 
 

Restricted common shares
87,322

 
104,784

Restricted share units
880,166

 
541,749

Denominator for earnings per unit - diluted
202,842,340

 
188,497,308

Earnings per unit - basic
$
0.07

 
$
0.06

Earnings per unit - diluted
$
0.07

 
$
0.06