Share and Unit-Based Plans (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of LTIP Units Granted

During the three months ended March 31, 2020, the Company granted the following LTIP Units:

Grant Date	Units	Type	Fair Value per LTIP Unit		Vest Date
1/1/2020	154,158	Service-based	$	26.92	12/31/2022
1/1/2020	321,940	Market-indexed	$	27.80	12/31/2022
3/1/2020	39,176	Service-based	$	20.42	2/28/2023
3/1/2020	37,592	Market-indexed	$	21.28	2/28/2023
	552,866

Summary of activity of non-vested LTIP Units, stock awards, phantom stock and stock units

The following table summarizes the activity of the non-vested LTIP Units, phantom stock units and stock units:

	LTIP Units			Phantom Stock Units			Stock Units
	Units	Value(1)		Units	Value(1)		Units	Value(1)
Balance at January 1, 2020	616,219	$	39.04	7,216	$	43.29	199,987	$	43.59
Granted	552,866	26.59		12,637	25.02		120,913	19.45
Vested	(3,408)	66.02		(6,881)	27.12		(63,849)	52.39
Forfeited	—	—		—	—		—	—
Balance at March 31, 2020	1,165,677	$	33.06	12,972	$	34.06	257,051	$	30.05
(1) Value represents the weighted average grant date fair value.

Summary of activity of SARs and stock options outstanding

The following table summarizes the activity of the stock options outstanding:

	Stock Options
	Units	Value(1)
Balance at January 1, 2020	35,565	$	57.32
Granted	—	—
Exercised	—	—
Balance at March 31, 2020	35,565	$	57.32
(1) Value represents the weighted average exercise price.

Compensation cost under the share and unit-based plans

The following summarizes the compensation cost under the share and unit-based plans:

	For the Three Months Ended March 31,
	2020		2019
LTIP Units	$	3,214	$	3,714
Stock units	2,202		2,660
Stock options	—		51
Phantom stock units	187		240
	$	5,603	$	6,665