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EARNINGS PER SHARE AND UNIT (Tables)
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Schedule of computation of basic and diluted earnings per share
The following table sets forth the computation of our basic and diluted earnings per share:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(Amounts in thousands, except per share amounts)
2017
 
2016
 
2017
 
2016
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareholders
$
17,178

 
$
19,265

 
$
81,347

 
$
71,771

Less: Earnings allocated to unvested participating securities
(39
)
 
(26
)
 
(133
)
 
(88
)
Net income available for common shareholders - basic
$
17,139

 
$
19,239

 
$
81,214

 
$
71,683

Impact of assumed conversions:
 
 
 
 
 
 
 
OP and LTIP units
—

 
—

 
7,175

 
—

Net income available for common shareholders - dilutive
$
17,139

 
$
19,239

 
$
88,389

 
$
71,683

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding - basic
110,990

 
99,304

 
104,938

 
99,281

Effect of dilutive securities(1):
 
 
 
 
 
 
 
Stock options using the treasury stock method
94

 
436

 
180

 
259

Restricted share awards
176

 
130

 
164

 
109

Assumed conversion of OP and LTIP units
—

 
—

 
10,041

 
62

Weighted average common shares outstanding - diluted
111,260

 
99,870

 
115,323

 
99,711

 
 
 
 
 
 
 
 
Earnings per share available to common shareholders:
 
 
 
 
 
 
 
Earnings per common share - Basic
$
0.15

 
$
0.19

 
$
0.77

 
$
0.72

Earnings per common share - Diluted
$
0.15

 
$
0.19

 
$
0.77

 
$
0.72

(1) For the three and nine months ended September 30, 2016 and the three months ended September 30, 2017 the effect of the redemption of OP and LTIP units for Urban Edge common shares would have an anti-dilutive effect on the calculation of diluted EPS. Accordingly, the impact of such redemption has not been included in the determination of diluted EPS for these periods.













Operating Partnership Earnings per Unit
The following table sets forth the computation of basic and diluted earnings per unit:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(Amounts in thousands, except per unit amounts)
2017
 
2016
 
2017
 
2016
Numerator:
 
 
 
 
 
 
 
Net income attributable to unitholders
$
19,145

 
$
20,504

 
$
88,778

 
$
76,365

Less: net income attributable to participating securities
(39
)
 
(43
)
 
(142
)
 
(174
)
Net income available for unitholders
$
19,106


$
20,461


$
88,636


$
76,191

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average units outstanding - basic
123,433

 
105,404

 
114,979

 
105,370

Effect of dilutive securities issued by Urban Edge
270

 
566

 
344

 
368

Unvested LTIP units
—

 
—

 
—

 
62

Weighted average units outstanding - diluted
123,703

 
105,970

 
115,323

 
105,800

 
 
 
 
 
 
 
 
Earnings per unit available to unitholders:
 
 
 
 
 
 
 
Earnings per unit - Basic
$
0.15

 
$
0.19

 
$
0.77

 
$
0.72

Earnings per unit - Diluted
$
0.15

 
$
0.19

 
$
0.77

 
$
0.72