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Earnings Per Common Share
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Common Share Earnings (Loss) Per Common Share

Shareholders' Equity
In April 2019, we closed an underwritten public offering of 11.5 million common shares (including 1.5 million common shares related to the exercise of the underwriters' option to cover overallotments) at $42.00 per share, which generated net proceeds, after deducting the underwriting discounts and commissions and other offering expenses, of $472.8 million.

Earnings (Loss) Per Common Share
The following is a summary of the calculation of basic and diluted earnings (loss) per common share and a reconciliation of the amounts of net income (loss) available to common shareholders used in calculating basic and diluted earnings per common share to net income (loss):
 
Year Ended December 31,
 
2019
 
2018
 
2017
 
(In thousands, except per share amounts)
Net income (loss)
$
74,144

 
$
46,613

 
$
(79,084
)
Net (income) loss attributable to redeemable
   noncontrolling interests
(8,573
)
 
(6,710
)
 
7,328

Net loss attributable to noncontrolling interests
—

 
21

 
3

Net income (loss) attributable to common shareholders
65,571

 
39,924

 
(71,753
)
Distributions to participating securities
(2,489
)
 
(2,599
)
 
(1,655
)
Net income (loss) available to common shareholders
  — basic and diluted
$
63,082

 
$
37,325

 
$
(73,408
)
 
 
 
 
 
 
Weighted average number of common shares
   outstanding — basic and diluted
130,687

 
119,176

 
105,359

 
 
 
 
 
 
Earnings (loss) per common share:
 
 
 
 
 
Basic
$
0.48

 
$
0.31

 
$
(0.70
)
Diluted
$
0.48

 
$
0.31

 
(0.70
)

The effect of the redemption of OP Units and Time-Based LTIP Units that were outstanding as of December 31, 2019 and 2018 is excluded in the computation of diluted earnings per common share as the assumed exchange of such units for common shares on a one-for-one basis was antidilutive (the assumed redemption of these units would have no impact on the determination of diluted earnings per share). Since OP Units and Time-Based LTIP Units, which are held by noncontrolling interests, are attributed gains at an identical proportion to the common shareholders, the gains attributable and their equivalent weighted average OP Unit
and Time-Based LTIP Unit impact are excluded from net income available to common shareholders and from the weighted average number of common shares outstanding in calculating diluted earnings per common share. Performance-Based LTIP Units, Special Performance-Based LTIP Units and Formation Awards, which totaled 4.7 million, 3.9 million and 3.3 million for each of the three years in the period ended December 31, 2019, were excluded from the calculation of diluted earnings per common share as they were antidilutive, but potentially could be dilutive in the future.