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EARNINGS PER SHARE AND UNIT (Tables)
 6 Months Ended
Jun. 30, 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 June 30,
 
Six Months Ended June 30,
(Amounts in thousands, except per share amounts)
2020
 
2019
 
2020
 
2019
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareholders
$
31,255

 
$
26,571

 
$
80,235

 
$
52,108

Less: Earnings allocated to unvested participating securities
(19
)
 
(22
)
 
(54
)
 
(45
)
Net income available for common shareholders - basic
$
31,236

 
$
26,549


$
80,181


$
52,063

Impact of assumed conversions:
 
 
 
 
 
 
 
OP and LTIP units
—

 
—

 
525

 
—

Net income available for common shareholders - dilutive
$
31,236

 
$
26,549


$
80,706


$
52,063

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding - basic
116,522

 
120,364

 
118,744

 
118,330

Effect of dilutive securities(1):
 
 
 
 
 
 
 
Restricted share awards
73

 
97

 
79

 
106

Assumed conversion of OP and LTIP units
—

 
—

 
784

 
—

Weighted average common shares outstanding - diluted
116,595

 
120,461

 
119,607

 
118,436

 
 
 
 
 
 
 
 
Earnings per share available to common shareholders:
 
 
 
 
 
 
 
Earnings per common share - Basic
$
0.27

 
$
0.22

 
$
0.68

 
$
0.44

Earnings per common share - Diluted
$
0.27

 
$
0.22

 
$
0.67

 
$
0.44

(1) For the three and six months ended June 30, 2019 and the three months ended June 30, 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 June 30,
 
Six Months Ended June 30,
(Amounts in thousands, except per unit amounts)
2020
 
2019
 
2020
 
2019
Numerator:
 
 
 
 
 
 
 
Net income attributable to unitholders
$
32,545

 
$
28,089

 
$
83,833

 
$
55,981

Less: net income attributable to participating securities
(19
)
 
(23
)
 
(54
)
 
(47
)
Net income available for unitholders
$
32,526


$
28,066


$
83,779


$
55,934

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average units outstanding - basic
120,535

 
126,478

 
123,190

 
126,442

Effect of dilutive securities issued by Urban Edge
72

 
97

 
79

 
106

Unvested LTIP units
800

 
5

 
813

 
6

Weighted average units outstanding - diluted
121,407

 
126,580

 
124,082

 
126,554

 
 
 
 
 
 
 
 
Earnings per unit available to unitholders:
 
 
 
 
 
 
 
Earnings per unit - Basic
$
0.27

 
$
0.22

 
$
0.68

 
$
0.44

Earnings per unit - Diluted
$
0.27

 
$
0.22

 
$
0.68

 
$
0.44