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Earnings Per Common Share | 12 Months Ended
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Dec. 31, 2017
Earnings Per Share [Abstract] |
Earnings Per Common Share | Earnings Per Common Share Basic and fully diluted earnings per share are based on the weighted average shares outstanding during each year and basic earnings per share exclude any dilutive effects of options, unvested restricted shares and convertible securities. The conversion of OP Units has been excluded from the basic earnings per share calculation. The conversion of an OP Unit for a share of common stock has no material effect on earnings per common share on a fully diluted basis. The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2017, 2016 and 2015 (amounts in thousands, except per share data):
| Years Ended December 31,
| 2017 |  | 2016 |  | 2015
Numerators: |  |  |  |  |
Net Income Available for Common Stockholders: |  |  |  |  |
Consolidated net income | $ | 210,377 |  |  | $ | 187,132 |  |  | $ | 150,512 |
Amounts allocated to dilutive securities | (12,788 | ) |  | (13,869 | ) |  | (11,141 | )
Preferred Stock distributions | (7,685 | ) |  | (9,226 | ) |  | (9,226 | )
Net income available to Common Stockholders – basic | 189,904 |  |  | 164,037 |  |  | 130,145 |
Amounts allocated to dilutive securities | 12,788 |  |  | 13,869 |  |  | 11,141 |
Net income available to Common Stockholders – fully diluted | $ | 202,692 |  |  | $ | 177,906 |  |  | $ | 141,286 |
Denominator: |  |  |  |  |
Weighted average Common Stock outstanding—basic | 86,997 |  |  | 84,778 |  |  | 84,031 |
Effect of dilutive securities: |  |  |  |  |
Redemption of Common OP Units for Common Stock | 6,033 |  |  | 7,204 |  |  | 7,216 |
Stock options and restricted stock | 395 |  |  | 587 |  |  | 660 |
Weighted average Common Stock outstanding—fully diluted | 93,425 |  |  | 92,569 |  |  | 91,907 |
Earnings per Common Share—Basic: |  |  |  |  |
Net income available for Common Stockholders | $ | 2.18 |  |  | $ | 1.93 |  |  | $ | 1.55 |
Earnings per Common Share—Fully Diluted: |  |  |  |  |
Net income available for Common Stockholders | $ | 2.17 |  |  | $ | 1.92 |  |  | $ | 1.54 |

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