Stockholders’ Equity of the Company and Partners' Capital of the Operating Partnership

3 Months Ended

Mar. 31, 2018

Stockholders' Equity Note [Abstract]

Stockholders' Equity of the Company and Partners' Capital of the Operating Partnership

Stockholders’ Equity of the Company and Partners' Capital of the Operating Partnership

Noncontrolling Interest of the Company

The following table summarizes the changes in noncontrolling interest for the Company for the three months ended March 31, 2018 and 2017:

	2018			2017
Balance as of December 31	$	48,077		$	43,184
Net Income	1,172			782
Other Comprehensive Income	183			76
Common Stock Dividends and Unit Distributions	(775		)	(848		)
Conversion of Limited Partner Units to Common Stock (A)	(5,009		)	—
Retirement of Limited Partner Units (B)	(934		)	—
Reallocation - Additional Paid-in-Capital	292			(38		)
Balance as of March 31	$	43,006		$	43,156

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^(A) For the three months ended March 31, 2018 and 2017, 410,781 and 0 Limited Partner Units, respectively, were converted into an equivalent number of shares of common stock of the Company, resulting in a reclassification of $5,009 and $0, respectively, of noncontrolling interest to the Company’s stockholders’ equity.

^(B) During the three months ended March 31, 2018, 33,333 Limited Partner Units were forfeited by a unitholder and were retired by the Operating Partnership.

Noncontrolling Interest of the Operating Partnership

The following table summarizes the changes in noncontrolling interest for the Operating Partnership for the three months ended March 31, 2018 and 2017:

	2018			2017
Balance as of December 31	$	779		$	956
Net Income	21			27
Contributions	116			7
Distributions	(21		)	(17		)
Balance as of March 31	$	895		$	973

Dividends/Distributions

During the three months ended March 31, 2018, we declared $27,107 common stock dividends and Unit distributions.