Net Income per Common Share (Tables)

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Summary of Calculation of Net Income Per Common Share

The following summarizes the calculation of net income per common share attributable to common shareholders for the three and nine months ended September 30, 2017 and 2016.

	Three Months Ended    September 30,						Nine Months Ended    September 30,
(in thousands, except per share data)	2017			2016			2017			2016
Numerator:
Net income	$	10,871		$	29,831		$	49,796		$	81,682
Less: income allocated to unvested restricted shares	(279		)	(291		)	(738		)	(855		)
Net income attributable to common shareholders - basic	10,592			29,540			49,058			80,827
Add: undistributed income attributable to unvested restricted shares - basic	—			80			16			216
Less: undistributed income attributable to unvested restricted shares - diluted	—			(80		)	(16		)	(216		)
Net income attributable to common shareholders - diluted	$	10,592		$	29,540		$	49,058		$	80,827
Denominator:
Weighted average shares outstanding - basic and diluted	59,849			61,015			60,010			61,405
Net income per share attributable to common shareholders:
Basic and diluted	$	0.18		$	0.48		$	0.82		$	1.32