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EARNINGS PER SHARE AND UNIT
 6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
EARNINGS PER SHARE AND UNIT EARNINGS PER SHARE AND UNIT
Urban Edge Earnings per Share
We have calculated earnings per share (“EPS”) under the two-class method. The two-class method is an earnings allocation methodology whereby EPS for each class of Urban Edge common shares and participating securities is calculated according to dividends declared and participating rights in undistributed earnings. Restricted shares issued pursuant to our share-based compensation program are considered participating securities, and as such have non-forfeitable rights to receive dividends.
The following table sets forth the computation of our basic and diluted earnings per share:
Three Months Ended June 30,Six Months Ended June 30,
(Amounts in thousands, except per share amounts)2021202020212020
Numerator:
Net income attributable to common shareholders$12,547 $31,255 $32,467 $80,235 
Less: Earnings allocated to unvested participating securities(6)(19)(17)(54)
Net income available for common shareholders - basic$12,541 $31,236 $32,450 $80,181 
Impact of assumed conversions:
OP and LTIP units— — 1,460 525 
Net income available for common shareholders - dilutive$12,541 $31,236 $33,910 $80,706 
Denominator:
Weighted average common shares outstanding - basic116,981 116,522 116,969 118,744 
Effect of dilutive securities(1):
Restricted share awards53 73 60 79 
Assumed conversion of OP and LTIP units— — 5,298 784 
Weighted average common shares outstanding - diluted117,034 116,595 122,327 119,607 
Earnings per share available to common shareholders:
Earnings per common share - Basic$0.11 $0.27 $0.28 $0.68 
Earnings per common share - Diluted$0.11 $0.27 $0.28 $0.67 
(1) For the three months ended June 30, 2021 and 2020, the effect of the redemption of OP and LTIP units for Urban Edge common shares would have an anti-dilutive effect on the calculation of diluted EPS. Accordingly, the impact of such redemption has not been included in the determination of diluted EPS for these periods.
Operating Partnership Earnings per Unit
The following table sets forth the computation of basic and diluted earnings per unit:
Three Months Ended June 30,Six Months Ended June 30,
(Amounts in thousands, except per unit amounts)2021202020212020
Numerator:
Net income attributable to unitholders$13,131 $32,545 $33,926 $83,833 
Less: net income attributable to participating securities(6)(19)(17)(54)
Net income available for unitholders$13,125 $32,526 $33,909 $83,779 
Denominator:
Weighted average units outstanding - basic120,849 120,535 120,806 123,190 
Effect of dilutive securities issued by Urban Edge53 72 60 79 
Unvested LTIP units1,583 800 1,461 813 
Weighted average units outstanding - diluted122,485 121,407 122,327 124,082 
Earnings per unit available to unitholders:
Earnings per unit - Basic$0.11 $0.27 $0.28 $0.68 
Earnings per unit - Diluted$0.11 $0.27 $0.28 $0.68