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EARNINGS PER SHARE AND UNIT (Tables)
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Earnings per Share and Unit
The following table sets forth the computation of our basic and diluted earnings per share:
 
Three Months Ended March 31,
(Amounts in thousands, except per share amounts)
2020
 
2019
Numerator:
 
 
 
Net income attributable to common shareholders
$
48,980

 
$
25,537

Less: Earnings allocated to unvested participating securities
(34
)
 
(23
)
Net income available for common shareholders - basic
$
48,946

 
$
25,514

Impact of assumed conversions:
 
 
 
OP and LTIP units
—

 
2,245

Net income available for common shareholders - dilutive
$
48,946

 
$
27,759

 
 
 
 
Denominator:
 
 
 
Weighted average common shares outstanding - basic
120,966

 
116,274

Effect of dilutive securities(1):
 
 
 
Restricted share awards
85

 
114

Assumed conversion of OP and LTIP units
—

 
10,116

Weighted average common shares outstanding - diluted
121,051

 
126,504

 
 
 
 
Earnings per share available to common shareholders:
 
 
 
Earnings per common share - Basic
$
0.40

 
$
0.22

Earnings per common share - Diluted
$
0.40

 
$
0.22

(1) For the three months ended March 31, 2020, the effect of the redemption of OP and LTIP units for Urban Edge common shares would have an anti-dilutive effect on the calculation of diluted EPS. Accordingly, the impact of such redemption has not been included in the determination of diluted EPS for this period.















Operating Partnership Earnings per Unit
The following table sets forth the computation of basic and diluted earnings per unit:
 
Three Months Ended March 31,
(Amounts in thousands, except per unit amounts)
2020
 
2019
Numerator:
 
 
 
Net income attributable to unitholders
$
51,288

 
$
27,892

Less: net income attributable to participating securities
(34
)
 
(25
)
Net income available for unitholders
$
51,254


$
27,867

 
 
 
 
Denominator:
 
 
 
Weighted average units outstanding - basic
125,844

 
126,391

Effect of dilutive securities issued by Urban Edge
85

 
114

Unvested LTIP units
826

 
—

Weighted average units outstanding - diluted
126,755

 
126,505

 
 
 
 
Earnings per unit available to unitholders:
 
 
 
Earnings per unit - Basic
$
0.41

 
$
0.22

Earnings per unit - Diluted
$
0.40

 
$
0.22