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

9 Months Ended

Sep. 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 nine months ended
	9/30/2017			9/30/2016			9/30/2017			9/30/2016
Basic and diluted shares outstanding
Weighted average common shares - basic	137,715,192			136,997,756			137,457,293			136,901,164
Weighted average DownREIT units outstanding	7,500			7,500			7,500			7,500
Effect of dilutive securities	584,354			499,798			541,399			533,642
Weighted average common shares - diluted	138,307,046			137,505,054			138,006,192			137,442,306
Calculation of Earnings per Share - basic
Net income attributable to common stockholders	$	238,248		$	356,392		$	639,348		$	791,767
Net income allocated to unvested restricted shares	(672		)	(872		)	(1,794		)	(2,036		)
Net income attributable to common stockholders, adjusted	$	237,576		$	355,520		$	637,554		$	789,731
Weighted average common shares - basic	137,715,192			136,997,756			137,457,293			136,901,164
Earnings per common share - basic	$	1.73		$	2.60		$	4.64		$	5.77
Calculation of Earnings per Share - diluted
Net income attributable to common stockholders	$	238,248		$	356,392		$	639,348		$	791,767
Add: noncontrolling interests of DownREIT unitholders in consolidated partnerships	11			10			32			30
Adjusted net income attributable to common stockholders	$	238,259		$	356,402		$	639,380		$	791,797
Weighted average common shares - diluted	138,307,046			137,505,054			138,006,192			137,442,306
Earnings per common share - diluted	$	1.72		$	2.59		$	4.63		$	5.76