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Share and Unit-Based Plans (Tables) | 9 Months Ended
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Sep. 30, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of LTIP units granted | During the nine months ended September 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 |  |  |  |  |  |  | 23,222 |  |  | 17.46 |  |  | 250,889 |  |  | 14.17 |
Vested | (4,872) |  |  | 54.75 |  |  |  |  |  |  | (20,948) |  |  | 20.90 |  |  | (111,856) |  |  | 42.89 |
Forfeited | (6,714) |  |  | 39.66 |  |  |  |  |  |  | — |  |  | — |  |  | (3,102) |  |  | 32.62 |
Balance at September 30, 2020 | 1,157,499 |  |  | $ | 33.03 |  |  |  |  |  |  | 9,490 |  |  | $ | 29.51 |  |  | 335,918 |  |  | $ | 21.95 |
(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 September 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 September 30, |  | For the Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
LTIP Units | $ | 3,354 |  |  | $ | 2,498 |  |  | $ | 9,918 |  |  | $ | 8,859 |
Stock units | 684 |  |  | 632 |  |  | 3,580 |  |  | 3,836 |
Stock options | — |  |  | — |  |  | — |  |  | 51 |
Phantom stock units | 85 |  |  | 185 |  |  | 438 |  |  | 607 |
| $ | 4,123 |  |  | $ | 3,315 |  |  | $ | 13,936 |  |  | $ | 13,353 |

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