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Capital (Tables)
6 Months Ended
Jun. 30, 2018
Stockholders' Equity Note Disclosure, Disclosure of Compensation Related Costs, Share-based Payments and Earnings Per Share [Abstract]  
Summary of ERST Restricted Stock and LTIP Unit
The following is a summary of ESRT restricted stock and LTIP unit activity for the six months ended June 30, 2018:
 
Restricted Stock
 
LTIP Units
 
Weighted Average Grant Fair Value
Unvested balance at December 31, 2017
90,791

 
3,588,609

 
$
11.20

Vested
(30,693
)
 
(492,877
)
 
14.58

Granted
39,608

 
2,719,801

 
8.54

Forfeited or unearned
(7,811
)
 
(103,490
)
 
8.52

Unvested balance at June 30, 2018
91,895

 
5,712,043

 
$
9.68

Earnings Per Unit
Earnings per unit for the three and six months ended June 30, 2018 and 2017 is computed as follows (amounts in thousands, except per share amounts):
 
Three Months Ended,
 
Six Months Ended,
 
June 30, 2018
 
June 30, 2017
 
June 30, 2018
 
June 30, 2017
Numerator:
 
 
 
 
 
 
 
Net income
$
30,184

 
$
31,359

 
$
48,242

 
$
50,504

Private perpetual preferred unit distributions
(234
)
 
(234
)
 
(468
)
 
(468
)
Earnings allocated to unvested units
(212
)
 
(200
)
 
(374
)
 
(354
)
Net income attributable to common unitholders - basic and diluted
$
29,738

 
$
30,925

 
$
47,400

 
$
49,682

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average units outstanding - basic
297,244

 
296,388

 
297,028

 
296,388

Effect of dilutive securities:
 
 
 
 
 
 
 
  Stock-based compensation plans


 
973

 
1

 
874

  Exchangeable senior notes

 
1,037

 

 
918

Weighted average units outstanding - diluted
297,244

 
298,398

 
297,029

 
298,180

 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
Basic
$
0.10

 
$
0.10

 
0.16

 
0.17

Diluted
$
0.10

 
$
0.10

 
$
0.16

 
$
0.17