Earnings per Share and Unit

3 Months Ended

Mar. 31, 2016

Earnings per Share and Unit [Abstract]

Parent Company Earnings per Share

The following summarizes the calculation of basic and diluted earnings per share:



	Three months ended March 31,
(in thousands, except per share data)	2016		2015
Numerator:
Income from operations attributable to the Company	53,143		30,440
Less: preferred stock dividends and other	5,266		5,442
Income from operations attributable to common stockholders - basic	$	47,877	24,998
Income from operations attributable to common stockholders - diluted	$	47,877	25,026
Denominator:
Weighted average common shares outstanding for basic EPS	97,518		93,842
Weighted average common shares outstanding for diluted EPS	97,891		93,907

Income per common share – basic	$	0.49	0.27
Income per common share – diluted	$	0.49	0.27

Income allocated to noncontrolling interests of the Operating Partnership has been excluded from the numerator and exchangeable Operating Partnership units have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these amounts in the numerator and denominator would have no impact. Weighted average exchangeable Operating Partnership units outstanding for the three months ended March 31, 2016 and 2015 were 154,170.

Operating Partnership Earnings per Unit

The following summarizes the calculation of basic and diluted earnings per unit:



	Three months ended March 31,
(in thousands, except per share data)	2016		2015
Numerator:
Income from operations attributable to the Partnership	53,228		30,489
Less: preferred unit distributions and other	5,266		5,442
Income from operations attributable to common unit holders - basic	47,962		25,047
Income from operations attributable to common unit holders - diluted	47,962		25,075
Denominator:
Weighted average common units outstanding for basic EPU	97,672		93,996
Weighted average common units outstanding for diluted EPU	98,045		94,061

Income per common unit – basic	$	0.49	0.27
Income per common unit – diluted	$	0.49	0.27