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Share and Unit-Based Plans (Tables) | 3 Months Ended
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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 |

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