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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Schedule of earnings per share
In the dilutive EPS calculation, dilutive stock options were calculated using the treasury stock method consistent with prior periods. There were 682 anti-dilutive stock options in 2018 and 2017, respectively, and no anti-dilutive stock options in 2016. The conversions of downREIT operating partnership units and 5.417% Series 1 Cumulative Convertible Preferred Shares are anti-dilutive for all periods presented and accordingly, have been excluded from the weighted average common shares used to compute diluted EPS.

 
Year Ended December 31,
 
2018
 
2017
 
2016
 
(In thousands, except per share data)
NUMERATOR
 
 
 
 
 
Income from continuing operations
$
237,111

 
$
219,948

 
$
226,425

Less: Preferred share dividends
(8,042
)
 
(2,458
)
 
(541
)
Less: Income from continuing operations attributable to noncontrolling interests
(7,119
)
 
(7,666
)
 
(7,648
)
Less: Earnings allocated to unvested shares
(930
)
 
(942
)
 
(702
)
Income from continuing operations available for common shareholders
221,020

 
208,882

 
217,534

Gain on sale of real estate and change in control of interests, net
11,915

 
77,632

 
31,133

Net income available for common shareholders, basic and diluted
$
232,935

 
$
286,514

 
$
248,667

DENOMINATOR
 
 
 
 
 
Weighted average common shares outstanding—basic
73,274

 
72,117

 
70,877

Effect of dilutive securities:
 
 
 
 
 
Stock options
28

 
116

 
172

Weighted average common shares outstanding—diluted
73,302

 
72,233

 
71,049

 
 
 
 
 
 
EARNINGS PER COMMON SHARE, BASIC
 
 
 
 
 
Net income available for common shareholders
$
3.18

 
$
3.97

 
$
3.51

EARNINGS PER COMMON SHARE, DILUTED
 
 
 
 
 
Net income available for common shareholders
$
3.18

 
$
3.97

 
$
3.50

Income from continuing operations attributable to the Trust
$
229,992

 
$
212,282

 
$
218,777