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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of Key Components of OPP Plan | The following table outlines key components of the 2020 PSU Plan:
| 2020 PSU Plan
| Operational Performance Unit |  | Relative TSR Performance Unit
Maximum bonus pool, in millions | $14.9 |  | $14.9
Performance period | 1/1/2020 to 12/31/2020 |  | 1/1/2020 to 12/31/2022
The following table outlines key components of the 2019 and 2018 OPP Plans:
| 2019 OPP Plan |  | 2018 OPP Plan
Maximum bonus pool, in millions | $28.0 |  | $25.0
Performance period | 1/1/2019 to 12/31/2021 |  | 1/1/2018 to 12/31/2020
Schedule of Valuation Assumptions | The per unit fair value of the 2020 PSU awards granted was estimated on the date of grant using the following assumptions in the Monte Carlo simulation:
| 2020
Expected price volatility for the Company | 17.00%
Expected price volatility for the particular REIT index | 14.00%
Risk-free rate | 1.66%
Dividend yield | 2.80%
The per unit fair value of OPP awards granted was estimated on the date of grant using the following assumptions in the Monte Carlo simulation:
| 2019 |  | 2018
Expected price volatility for the Company | 22.00% |  | 20.00%
Expected price volatility for the particular REIT index | 18.00% |  | 18.00%
Risk-free rate | 2.57% |  | 2.37%
Dividend yield | 3.00% |  | 2.90%
The per unit fair value of one-time retention awards granted was estimated on the date of grant using the following assumptions in the Monte Carlo simulation:
| Assumptions
Expected price volatility for the Company | 23.00%
Expected price volatility for the particular REIT index | 18.00%
Risk-free rate | 1.63%
Dividend yield | 3.20%
Summary of Activity and Status of Unvested Stock Awards | The following table summarizes the activity and status of all unvested stock awards:
|  | 2020 |  | 2019 |  | 2018
|  | Shares |  | Weighted-Average Grant-Date Fair Value |  | Shares |  | Weighted-Average Grant-Date Fair Value |  | Shares |  | Weighted-Average Grant-Date Fair Value
Unvested at January 1 |  | 459,784 |  |  | $ | 33.67 |  |  | 703,796 |  |  | $ | 32.93 |  |  | 1,087,186 |  |  | $ | 33.64 |
Granted |  | 404,779 |  |  | 24.70 |  |  | 247,521 |  |  | 35.50 |  |  | 190,557 |  |  | 29.53 |
Vested |  | (420,970) |  |  | 31.61 |  |  | (470,019) |  |  | 32.88 |  |  | (571,481) |  |  | 32.74 |
Canceled |  | (948) |  |  | 29.91 |  |  | (21,514) |  |  | 34.16 |  |  | (2,466) |  |  | 33.38 |
Unvested at December 31 |  | 442,645 |  |  | $ | 27.44 |  |  | 459,784 |  |  | $ | 33.67 |  |  | 703,796 |  |  | $ | 32.93 |
Summary of Activity and Status of Unvested Performance Units | The following table summarizes the activity and status of all unvested time-based restricted operating partnership performance units:
| 2020 |  | 2019 |  | 2018
| Units |  | Weighted-Average Grant-Date Fair Value |  | Units |  | Weighted-Average Grant-Date Fair Value |  | Units |  | Weighted-Average Grant-Date Fair Value
Unvested at January 1 | 608,679 |  |  | $ | 32.70 |  |  | 318,549 |  |  | $ | 28.41 |  |  | — |  |  | $ | — |
Granted | 571,978 |  |  | 23.49 |  |  | 481,215 |  |  | 35.74 |  |  | 318,549 |  |  | 28.41 |
Vested | (409,225) |  |  | 30.42 |  |  | (191,085) |  |  | 30.37 |  |  | — |  |  | — |
Canceled | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Unvested at December 31 | 771,432 |  |  | $ | 27.08 |  |  | 608,679 |  |  | $ | 32.70 |  |  | 318,549 |  |  | $ | 28.41 |
Stock-Based Compensation Related to Company's Awards | The following table presents the classification and amount recognized for stock-based compensation related to the Company’s awards:
| For the Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Expensed stock compensation(1) | $ | 22,723 |  |  | $ | 19,481 |  |  | $ | 17,028 |
Capitalized stock compensation(2) | 3,306 |  |  | 951 |  |  | 1,097 |
Total stock compensation(3) | $ | 26,029 |  |  | $ | 20,432 |  |  | $ | 18,125 |
_________________ 1.Amounts are recorded in general and administrative expenses on the Consolidated Statements of Operations. 2.Amounts for the years ended December 31, 2020 and 2019 are recorded in investment in real estate, at cost on the Consolidated Balance Sheets. Amounts for the year ended December 31, 2018 are recorded in deferred leasing costs and lease intangible assets, net and investment in real estate, at cost on the Consolidated Balance Sheet. 3.Amounts are recorded in additional paid-in capital and non-controlling interest—units in the operating partnership on the Consolidated Balance Sheets.

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