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Share and Unit-Based Plans (Tables) | 9 Months Ended
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Sep. 30, 2019
Share-based Payment Arrangement [Abstract] |
Schedule of LTIP Units Granted | During the nine months ended September 30, 2019, the Company granted the following LTIP Units:
Grant Date |  | Units |  | Type |  | Fair Value per LTIP Unit |  | Vest Date
1/1/2019 |  | 81,732 |  |  | Service-based |  | $ | 43.28 |  |  | 12/31/2021
1/1/2019 |  | 250,852 |  |  | Market-indexed |  | $ | 29.25 |  |  | 12/31/2021
9/1/2019 |  | 4,393 |  |  | Service-based |  | $ | 28.53 |  |  | 8/31/2022
9/1/2019 |  | 6,454 |  |  | Market-indexed |  | $ | 19.42 |  |  | 8/31/2022
|  | 343,431 |  |  |  |  |  |  |
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, 2019 | 661,578 |  |  | $ | 48.38 |  |  |  |  |  |  | — |  |  | $ | — |  |  | 129,457 |  |  | $ | 64.21 |
Granted | 343,431 |  |  | 32.40 |  |  |  |  |  |  | 21,580 |  |  | 41.61 |  |  | 159,116 |  |  | 37.57 |
Vested | (7,654) |  |  | 59.85 |  |  |  |  |  |  | (12,756) |  |  | 42.87 |  |  | (83,341) |  |  | 63.63 |
Forfeited | (14,635) |  |  | 34.26 |  |  |  |  |  |  | — |  |  | — |  |  | (5,245) |  |  | 51.48 |
Balance at September 30, 2019 | 982,720 |  |  | $ | 42.91 |  |  |  |  |  |  | 8,824 |  |  | $ | 39.79 |  |  | 199,987 |  |  | $ | 43.59 |
(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, 2019 |  |  |  |  | 35,565 |  |  | $ | 57.32 |
Granted |  |  |  |  | — |  |  | — |
Exercised |  |  |  |  | — |  |  | — |
Balance at September 30, 2019 |  |  |  |  | 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 September 30, |  |  |  | For the Nine Months Ended September 30, |  |
| 2019 |  | 2018 |  | 2019 |  | 2018
LTIP Units | $ | 2,498 |  |  | $ | 3,440 |  |  | $ | 8,859 |  |  | $ | 21,823 |
Stock units | 632 |  |  | 972 |  |  | 3,836 |  |  | 5,717 |
Stock options | — |  |  | 32 |  |  | 51 |  |  | 94 |
Phantom stock units | 185 |  |  | 172 |  |  | 607 |  |  | 585 |
| $ | 3,315 |  |  | $ | 4,616 |  |  | $ | 13,353 |  |  | $ | 28,219 |

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