STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2018

Stock-Based Compensation [Abstract]

Schedule of activity in restricted stock and RSUs

The following table summarizes the activity in restricted stock and RSUs for the years ended December 31, 2016, 2017 and 2018:

		Weighted -
	Number of	Average Grant-		Compensation
	Shares/Omega	Date Fair Value		Cost (1)
	OP Units	per Share		(in millions)
Non-vested at December 31, 2015	413,628	$	34.45
Granted during 2016	158,506		34.49	$	5.5
Cancelled during 2016	(905)		24.92
Vested during 2016	(235,176)		30.41
Non-vested at December 31, 2016	336,053		37.32
Granted during 2017	185,004		31.25	$	5.8
Cancelled during 2017	(1,000)		34.78
Vested during 2017	(182,548)		39.58
Non-vested at December 31, 2017	337,509		32.78
Granted during 2018	217,717		28.19	$	6.1
Cancelled during 2018	(5,941)		30.82
Vested during 2018	(190,412)		33.89
Non-vested at December 31, 2018	358,873	$	29.44

(1)Total compensation cost to be recognized on the awards based on grant date fair value, which is based on the market price of the Company’s common stock on the date of grant.

Schedule of assumptions used for estimating fair value of stock awards using Monte-Carlo model

	March 17,						January 1,						January 1,
	2016						2017						2018
Closing price on date of grant	$	34.78					$	31.26					$	27.54
Dividend yield		6.56	%					7.81	%					9.44	%
Risk free interest rate at time of grant		0.50	%	to	1.14	%		0.66	%	to	1.58	%		1.60	%	to	2.05	%
Expected volatility		23.92	%	to	24.88	%		22.82	%	to	25.26	%		21.03	%	to	23.24	%

Schedule of activity in PRSU and LTIP Units

The following table summarizes the activity in PRSUs and LTIP Units for the years ended December 31, 2016, 2017 and 2018:

		Weighted-
		Average Grant-		Compensation
	Number of	Date Fair Value		Cost (1)
	Shares	per Share		(in millions)
Non-vested at December 31, 2015	913,087	$	14.87
Granted during 2016	679,549		14.67	$	10.00
Forfeited during 2016	(518,638)		12.10
Vested during 2016 (2)	—		—
Non-vested at December 31, 2016	1,073,998		16.08
Granted during 2017	685,064		14.87	$	10.20
Cancelled during 2017	(5,361)		15.98
Forfeited during 2017	(392,921)		18.33
Vested during 2017	—		—
Non-vested at December 31, 2017	1,360,780		14.82
Granted during 2018	1,012,032		10.40	$	10.50
Cancelled during 2018	—		—
Forfeited during 2018	(203,380)		11.82
Vested during 2018	—		—
Non-vested at December 31, 2018	2,169,432	$	13.04

(1)Total compensation cost to be recognized on the awards was based on the grant date fair value.

(2)PRSUs are shown as vesting in the year that the Compensation Committee determines the level of achievement of the applicable performance measures.

Schedule of Unrecognized Compensation Awards

The following table summarizes our total unrecognized compensation cost as of December 31, 2018 associated with restricted stock, restricted stock units, PRSU awards, and LTIP Unit awards to employees:

							Weighted
							Average
			Grant Date		Total		Period of	Unrecognized
			Average		Compensation		Expense	Compensation
	Grant		Fair Value		Cost (in		Recognition	Cost (in		Performance	Vesting
RSUs	Year	Shares/ Units	Per Unit/Share		millions) (1)		(in months)	millions)		Period	Dates
1/1/2017  RSU	2017	140,416	$	31.26	$	4.40	36	$	1.50	N/A	12/31/2019
1/1/2018  RSU	2018	169,900		27.54		4.70	36		3.10	N/A	12/31/2020
Restricted Stock Units Total		310,316		29.22		9.10			4.60
TSR PRSUs and LTIP Units
3/17/2016 2018 LTIP Units	2016	370,152		13.21		4.90	45		1.30	1/1/2016 - 12/31/2018	Quarterly in 2019
1/1/2017 2019 LTIP Units	2017	399,726		12.61		5.00	48		2.50	1/1/2017 - 12/31/2019	Quarterly in 2020
1/1/2018 2020 LTIP Units	2018	677,488		7.31		5.00	48		3.70	1/1/2018 - 12/31/2020	Quarterly in 2021
TSR PRSUs & LTIP Total		1,447,366		10.28		14.90			7.50
Relative TSR PRSUs
3/17/2016 2018 Relative TSR	2016	305,563		16.44		5.00	45		1.30	1/1/2016 - 12/31/2018	Quarterly in 2019
1/1/2017 2019 Relative TSR	2017	285,338		18.04		5.10	48		2.60	1/1/2017 - 12/31/2019	Quarterly in 2020
1/1/2018 2020 Relative TSR	2018	334,544		16.65		5.60	48		4.20	1/1/2018 - 12/31/2020	Quarterly in 2021
Relative TSR PRSUs Total		925,445		17.01		15.70			8.10
Grand Total		2,683,127	$	14.79	$	39.70		$	20.20

(1)Total shares/units and compensation costs are net of shares/units cancelled.

(2)This table excludes approximately $0.7 million of unrecognized compensation costs related to our directors.