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Share and Unit-Based Plans (Tables) | 6 Months Ended
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Jun. 30, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of LTIP Units Granted | During the six months ended June 30, 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 |  |  |  |  |  |  | 17,836 |  |  | 20.23 |  |  | 247,872 |  |  | 14.24 |
Vested | (3,408) |  |  | 66.02 |  |  |  |  |  |  | (15,825) |  |  | 22.32 |  |  | (100,076) |  |  | 45.18 |
Forfeited | (6,714) |  |  | 39.66 |  |  |  |  |  |  | — |  |  | — |  |  | (399) |  |  | 59.04 |
Balance at June 30, 2020 | 1,158,963 |  |  | $ | 33.02 |  |  |  |  |  |  | 9,227 |  |  | $ | 34.67 |  |  | 347,384 |  |  | $ | 22.17 |
(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(2) |  |  |  |  | 1,950 |  |  | 54.34 |
Exercised |  |  |  |  | — |  |  | — |
Balance at June 30, 2020 |  |  |  |  | 37,515 |  |  | $ | 54.34 |
(1) Value represents the weighted average exercise price. |  |  |  |  |  |  |
(2) Pursuant to the terms of the Company's equity plan, the exercise price |  |  |  |  |  |  |
and number of options were adjusted so that the stock dividend paid on |  |  |  |  |  |  |
June 3, 2020 had no negative impact on the outstanding stock options |  |  |  |  |  |  |
(See Note 14 - Stockholders' Equity). |  |  |  |  |  |  |
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 June 30, |  |  |  | For the Six Months Ended June 30, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
LTIP Units | $ | 3,350 |  |  | $ | 2,647 |  |  | $ | 6,564 |  |  | $ | 6,361 |
Stock units | 694 |  |  | 544 |  |  | 2,896 |  |  | 3,204 |
Stock options | — |  |  | — |  |  | — |  |  | 51 |
Phantom stock units | 166 |  |  | 182 |  |  | 353 |  |  | 422 |
| $ | 4,210 |  |  | $ | 3,373 |  |  | $ | 9,813 |  |  | $ | 10,038 |

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