Organization, Basis of Presentation and Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2017

Accounting Policies [Abstract]

Schedule of earnings per common share

The Company's earnings per common share are determined as follows (dollars in thousands, except per share data):

	For the three months ended						For the six months ended
	6/30/2017			6/30/2016			6/30/2017			6/30/2016
Basic and diluted shares outstanding
Weighted average common shares - basic	137,580,677			136,918,770			137,326,204			136,852,323
Weighted average DownREIT units outstanding	7,500			7,500			7,500			7,500
Effect of dilutive securities	584,974			511,463			519,921			550,564
Weighted average common shares - diluted	138,173,151			137,437,733			137,853,625			137,410,387
Calculation of Earnings per Share - basic
Net income attributable to common stockholders	$	165,225		$	197,444		$	401,100		$	435,377
Net income allocated to unvested restricted shares	(468		)	(516		)	(1,122		)	(1,147		)
Net income attributable to common stockholders, adjusted	$	164,757		$	196,928		$	399,978		$	434,230
Weighted average common shares - basic	137,580,677			136,918,770			137,326,204			136,852,323
Earnings per common share - basic	$	1.20		$	1.44		$	2.91		$	3.17
Calculation of Earnings per Share - diluted
Net income attributable to common stockholders	$	165,225		$	197,444		$	401,100		$	435,377
Add: noncontrolling interests of DownREIT unitholders in consolidated partnerships	10			10			21			20
Adjusted net income attributable to common stockholders	$	165,235		$	197,454		$	401,121		$	435,397
Weighted average common shares - diluted	138,173,151			137,437,733			137,853,625			137,410,387
Earnings per common share - diluted	$	1.20		$	1.44		$	2.91		$	3.17