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Earnings per Share and Unit
 6 Months Ended
Jun. 30, 2017
Earnings per Share and Unit [Abstract]  
Earnings per Share and Unit
Earnings per Share and Unit
Parent Company Earnings per Share
The following summarizes the calculation of basic and diluted earnings per share:
 
 
Three months ended June 30,
 
Six months ended June 30,
(in thousands, except per share data)
 
2017
 
2016
 
2017
 
2016
Numerator:
 
 
 
 
 
 
 
 
Income from operations attributable to common stockholders - basic
 
$
48,368

 
34,810

 
$
15,144

 
82,687

Income from operations attributable to common stockholders - diluted
 
$
48,368

 
34,810

 
$
15,144

 
82,687

Denominator:
 
 
 
 
 
 
 
 
Weighted average common shares outstanding for basic EPS
 
170,088

 
97,657

 
148,610

 
97,588

Weighted average common shares outstanding for diluted EPS (1)
 
170,420

 
98,218

 
148,930

 
98,075


 
 
 
 
 
 
 
 
Income per common share – basic
 
$
0.28

 
0.36

 
$
0.10

 
0.85

Income per common share – diluted
 
$
0.28

 
0.35

 
$
0.10

 
0.84

(1)  Includes the dilutive impact of unvested restricted stock and shares issuable under the forward equity offering using the treasury stock method.

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 six months ended June 30, 2017 and 2016 were 238,987 and 154,170, respectively.
Operating Partnership Earnings per Unit
The following summarizes the calculation of basic and diluted earnings per unit:
 
 
Three months ended June 30,
 
Six months ended June 30,
(in thousands, except per share data)
 
2017
 
2016
 
2017
 
2016
Numerator:
 
 
 
 
 
 
 
 
Income from operations attributable to common unit holders - basic
 
$
48,472

 
34,874

 
$
15,229

 
82,837

Income from operations attributable to common unit holders - diluted
 
$
48,472

 
34,874

 
$
15,229

 
82,837

Denominator:
 
 
 
 
 
 
 
 
Weighted average common units outstanding for basic EPU
 
170,410

 
97,811

 
148,849

 
97,742

Weighted average common units outstanding for diluted EPU (1)
 
170,742

 
98,372

 
149,169

 
98,229


 
 
 
 
 
 
 
 
Income per common unit – basic
 
$
0.28

 
0.36

 
$
0.10

 
0.85

Income per common unit – diluted
 
$
0.28

 
0.35

 
$
0.10

 
0.84

(1)  Includes the dilutive impact of unvested restricted stock and the forward equity offering using the treasury stock method.