Equity (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of dividends declared by the Company (on a per share basis)

Dividends declared (on a per share basis) for the year ended December 31, 2019 are as follows:


Common Stock			Preferred Stock
				Dividend (1)
Declaration Date	Dividend		Declaration Date	Series A		Series B		Series C
February 13, 2019	$	0.27	February 1, 2019	$	0.515625	$	0.484375	$	0.53125
May 1, 2019	$	0.28	May 1, 2019	$	0.515625	$	0.484375	$	0.53125
July 31, 2019	$	0.29	July 31, 2019	$	0.515625	$	0.484375	$	0.53125
October 30, 2019	$	0.30	October 30, 2019	$	0.515625	$	0.484375	$	0.53125

(1)

The dividend declared on February 1, 2019 was for December 1, 2018 through February 28, 2019. The dividend declared on May 1, 2019 was for March 1, 2019 through May 31, 2019. The dividend declared on July 31, 2019 was for June 1, 2019 through August 31, 2019. The dividend declared on October 30, 2019 was for September 1, 2019 through November 30, 2019.

Schedule of reconciliation of the numerator and denominator of the basic and diluted EPS computations

A reconciliation of the numerator and denominator of our basic and diluted EPS computations ($ in thousands, except share and per share data) is as follows:


	Year Ended December 31,
	2019				2018				2017
	Basic		Diluted		Basic		Diluted		Basic		Diluted
Net income attributable to common stockholders (1)	$	121,074	$	121,074	$	108,312	$	108,312	$	65,835	$	65,835
Net income attributable to noncontrolling interest (2)		—		26,610		—		32,185		—		24,120
Net income attributable to common stockholders and noncontrolling interest	$	121,074	$	147,684	$	108,312	$	140,497	$	65,835	$	89,955
Weighted average shares outstanding		92,851,327		92,851,327		70,208,165		70,208,165		57,890,574		57,890,574
Dilutive effect of OP Units (2)		—		20,502,128		—		21,033,103		—		21,230,769
Dilutive effect of restricted stock units (3)		—		1,421,528		—		1,476,653		—		1,092,072
Dilutive effect of convertible notes (4)		—		1,417,968		—		908,861		—		97,837
Dilutive effect of stock dividend (5)		—		—		—		15,386		—		—
Weighted average shares outstanding		92,851,327		116,192,951		70,208,165		93,642,168		57,890,574		80,311,252
Net income per common share (1)	$	1.30	$	1.27	$	1.54	$	1.50	$	1.14	$	1.12

(1)

Net of preferred stock dividends.

(2)

We consider OP Units to be common stock equivalents as the holders have voting rights, the right to distributions and the right to redeem the OP Units for the cash value of a corresponding number of shares of common stock or a corresponding number of shares of common stock, at our election.

(3)

Mr. Kaufman is granted restricted stock units annually, which vest at the end of a four-year performance period based upon our achievement of total stockholder return objectives.

(4)

The convertible senior unsecured notes impact diluted earnings per share if the average price of our common stock exceeds the conversion price, as calculated in accordance with the terms of the indenture.

(5)

Represents the dilutive effect of the portion of the special dividend that was paid with common shares.