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Earnings per Share and Unit
 9 Months Ended
Sep. 30, 2020
Earnings Per Share And Unit [Abstract]  
Earnings per Share and Unit

12.

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 September 30,

 

 

Nine months ended September 30,

 

(in thousands, except per share data)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income attributable to common stockholders - basic

 

$

12,688

 

 

 

56,965

 

 

$

6,402

 

 

 

199,139

 

Income attributable to common stockholders - diluted

 

$

12,688

 

 

 

56,965

 

 

$

6,402

 

 

 

199,139

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding for basic EPS

 

 

169,671

 

 

 

167,559

 

 

 

169,081

 

 

 

167,512

 

Weighted average common shares outstanding for diluted EPS

 

 

169,970

 

 

 

167,944

 

 

 

169,356

 

 

 

167,834

 

Income per common share – basic

 

$

0.07

 

 

 

0.34

 

 

$

0.04

 

 

 

1.19

 

Income per common share – diluted

 

$

0.07

 

 

 

0.34

 

 

$

0.04

 

 

 

1.19

 

 

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 be anti-dilutive. Weighted average exchangeable Operating Partnership units outstanding for the three months ended September 30, 2020 and 2019, was 765,046 and 405,934, respectively.  Weighted average exchangeable Operating Partnership units outstanding for the nine months ended September 30, 2020 and 2019, was 765,046 and 368,854, respectively.  

Operating Partnership Earnings per Unit

The following summarizes the calculation of basic and diluted earnings per unit:

 

 

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

(in thousands, except per share data)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income attributable to common unit holders - basic

 

$

12,745

 

 

 

57,122

 

 

$

6,431

 

 

 

199,595

 

Income attributable to common unit holders - diluted

 

$

12,745

 

 

 

57,122

 

 

$

6,431

 

 

 

199,595

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common units outstanding for basic EPU

 

 

170,436

 

 

 

167,965

 

 

 

169,846

 

 

 

167,881

 

Weighted average common units outstanding for diluted EPU

 

 

170,735

 

 

 

168,350

 

 

 

170,121

 

 

 

168,203

 

Income per common unit – basic

 

$

0.07

 

 

 

0.34

 

 

$

0.04

 

 

 

1.19

 

Income per common unit – diluted

 

$

0.07

 

 

 

0.34

 

 

$

0.04

 

 

 

1.19