Earnings Per Share and Per Unit

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share and Per Unit

Earnings Per Share and Per Unit

The following table sets forth the computation of basic and diluted earnings per share of the Company:

	Three Months Ended March 31,
	2020			2019
Earnings per Common Share - basic:
Numerator:
Net income	$	191,340		$	8,386
Net (income) attributable to noncontrolling interests in the Operating Partnership	(4,960		)	(193		)
Net (income) attributable to noncontrolling interests in consolidated affiliates	(285		)	(316		)
Dividends on Preferred Stock	(622		)	(622		)
Net income available for common stockholders	$	185,473		$	7,255
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)	103,813			103,600
Net income available for common stockholders	$	1.79		$	0.07
Earnings per Common Share - diluted:
Numerator:
Net income	$	191,340		$	8,386
Net (income) attributable to noncontrolling interests in consolidated affiliates	(285		)	(316		)
Dividends on Preferred Stock	(622		)	(622		)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership	$	190,433		$	7,448
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)	103,813			103,600
Add:
Stock options using the treasury method	25			20
Noncontrolling interests Common Units	2,795			2,737
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions	106,633			106,357
Net income available for common stockholders	$	1.79		$	0.07

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(1) Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.

The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:

	Three Months Ended March 31,
	2020			2019
Earnings per Common Unit - basic:
Numerator:
Net income	$	191,340		$	8,386
Net (income) attributable to noncontrolling interests in consolidated affiliates	(285		)	(316		)
Distributions on Preferred Units	(622		)	(622		)
Net income available for common unitholders	$	190,433		$	7,448
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)	106,199			105,928
Net income available for common unitholders	$	1.79		$	0.07
Earnings per Common Unit - diluted:
Numerator:
Net income	$	191,340		$	8,386
Net (income) attributable to noncontrolling interests in consolidated affiliates	(285		)	(316		)
Distributions on Preferred Units	(622		)	(622		)
Net income available for common unitholders	$	190,433		$	7,448
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)	106,199			105,928
Add:
Stock options using the treasury method	25			20
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions	106,224			105,948
Net income available for common unitholders	$	1.79		$	0.07

__________

(1)

Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.