Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The table below presents the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2018, aggregated by the level in the fair value hierarchy within which those measurements fall.



				Fair Value Measurements at Reporting Date Using
Description	December 31, 2018			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Other assets - Cash Flow Hedge Swap Agreements	$	42,324		$	—	$	42,324		$	—
Other liabilities - Cash Flow Hedge Swap Agreements	$	(2,131	)	$	—	$	(2,131	)	$	—

Schedule of Fair Value of Financial Instruments

The fair values of the Company’s fixed-rate assets and liabilities were as follows for the periods indicated:



	December 31, 2018				December 31, 2017
	Fair Value		Carrying Value		Fair Value		Carrying Value
Notes receivable from Preferred and Common Operating Partnership unit holders	$	115,467	$	119,735	$	113,683	$	120,230
Fixed rate notes receivable	$	—	$	—	$	20,942	$	20,608
Fixed rate notes payable and notes payable to trusts	$	2,985,731	$	3,022,414	$	2,774,242	$	2,815,085
Exchangeable senior notes	$	620,149	$	575,000	$	719,056	$	624,259

Schedule of Unpaid Claims Liability

The following table presents information on the portion of the Company’s unpaid claims liability, which is included in other liabilities on the Company's consolidated balance sheets, that relates to tenant insurance for the periods indicated:



	For the Year Ended December 31,
Tenant Reinsurance Claims:	2018			2017			2016
Unpaid claims liability at beginning of year	$	5,167		$	3,896		$	3,908
Claims and claim adjustment expense for claims incurred in the current year	15,800			11,700			7,250
Claims and claim adjustment expense (benefit) for claims incurred in the prior years	107			(203		)	87
Payments for current year claims	(11,010		)	(8,895		)	(5,423		)
Payments for prior year claims	(2,738		)	(1,331		)	(1,926		)
Unpaid claims liability at the end of the year	$	7,326		$	5,167		$	3,896

Schedule of Antidilutive Shares Excluded from Computation of Earnings Per Share

The following table presents the number of weighted OP Units and Preferred OP Units, and the potential common shares, that were excluded from the computation of earnings per share as their effect would have been anti-dilutive:



	For the Year Ended December 31,
	2018	2017	2016
	Equivalent Shares (if converted)	Equivalent Shares (if converted)	Equivalent Shares (if converted)
Common OP Units	—	—	5,564,631
Series A Units (Variable Only)	—	—	875,480
Series B Units	464,033	533,174	499,966
Series C Units	312,075	377,135	353,646
Series D Units	1,019,524	—	552,796
	1,795,632	910,309	7,846,519

Schedule of Computation of Earnings Per Common Share

The computation of earnings per share is as follows for the periods presented:



	For the Year Ended December 31,
	2018			2017			2016
Net income attributable to common stockholders	$	415,289		$	479,013		$	366,127
Earnings and dividends allocated to participating securities	(723		)	(975		)	(792		)
Earnings for basic computations	414,566			478,038			365,335
Earnings and dividends allocated to participating securities	723			—			792
Income allocated to noncontrolling interest - Preferred Operating Partnership Units and Operating Partnership Units	22,831			30,088			—
Fixed component of income allocated to noncontrolling interest - Preferred Operating Partnership (Series A Units)	(2,288		)	(3,119		)	—
Net income for diluted computations	$	435,832		$	505,007		$	366,127

Weighted average common shares outstanding:
Average number of common shares outstanding - basic	126,087,487			125,967,831			125,087,554
OP Units	5,675,547			5,590,831			—
Series A Units	875,480			875,480			—
Series D Units	—			1,081,561			—
Unvested restricted stock awards included for treasury stock method	244,215			—			299,585
Shares related to exchangeable senior notes and dilutive stock options	276,304			640,068			560,937
Average number of common shares outstanding - diluted	133,159,033			134,155,771			125,948,076
Earnings per common share
Basic	$	3.29		$	3.79		$	2.92
Diluted	$	3.27		$	3.76		$	2.91