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Stock-Based Compensation (Tables)
 12 Months Ended
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 UnitRelative TSR Performance Unit
Maximum bonus pool, in millions$14.9$14.9
Performance period1/1/2020 to 12/31/20201/1/2020 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 period1/1/2019 to 12/31/20211/1/2018 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 Company17.00%
Expected price volatility for the particular REIT index14.00%
Risk-free rate1.66%
Dividend yield2.80%
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:
20192018
Expected price volatility for the Company 22.00%20.00%
Expected price volatility for the particular REIT index18.00%18.00%
Risk-free rate2.57%2.37%
Dividend yield3.00%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 Company23.00%
Expected price volatility for the particular REIT index18.00%
Risk-free rate1.63%
Dividend yield3.20%
Summary of Activity and Status of Unvested Stock Awards
The following table summarizes the activity and status of all unvested stock awards:
202020192018
SharesWeighted-Average Grant-Date Fair ValueSharesWeighted-Average Grant-Date Fair ValueSharesWeighted-Average Grant-Date Fair Value
Unvested at January 1459,784 $33.67 703,796 $32.93 1,087,186 $33.64 
Granted404,779 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 31442,645 $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:
202020192018
UnitsWeighted-Average Grant-Date Fair ValueUnitsWeighted-Average Grant-Date Fair ValueUnitsWeighted-Average Grant-Date Fair Value
Unvested at January 1608,679 $32.70 318,549 $28.41 — $— 
Granted571,978 23.49 481,215 35.74 318,549 28.41 
Vested(409,225)30.42 (191,085)30.37 — — 
Canceled— — — — — — 
Unvested at December 31771,432 $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,
202020192018
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.