Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2016

Earnings per Share [Abstract]

Summary of Basic and Diluted Earnings Per Share

The computation of basic and diluted net income per share is as follows (in thousands, except per share data, and unaudited):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
Numerator:
Net income available to common stockholders - basic	$	5,730	$	7,009	$	16,719	$	15,723
Effect of net income attributable to noncontrolling interests		808		1,229		2,485		3,072
Net income available to common stockholders - diluted	$	6,538	$	8,238	$	19,204	$	18,795
Denominator:
Weighted average shares outstanding - basic		47,855		40,994		45,651		36,355
Effect of Class A and Class RS partnership units *		6,767		6,932		6,787		7,103
Effect of Class O units and options to purchase Class A common stock on an "as if" converted basis *		1,066		807		982		724
Weighted average shares outstanding - diluted		55,688		48,733		53,420		44,182
Net income per share attributable to common stockholders - basic	$	0.12	$	0.17	$	0.37	$	0.43
Net income per share attributable to common stockholders - diluted	$	0.12	$	0.17	$	0.36	$	0.43

* The Class A units, Class RS units and Class O units represent limited partnership interests in the Operating Partnership, and are described in more detail in Note 7.