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Capital (Tables)
6 Months Ended
Jun. 30, 2019
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, 2019:
 
Restricted Stock
 
LTIP Units
 
Weighted Average Grant Fair Value
Unvested balance at December 31, 2018
91,158

 
5,702,821

 
$
9.68

Vested
(35,724
)
 
(598,402
)
 
15.98

Granted
69,358

 
2,848,726

 
9.55

Forfeited or unearned
(4,834
)
 
(1,338,267
)
 
7.11

Unvested balance at June 30, 2019
119,958

 
6,614,878

 
$
9.54


Earnings Per Unit
Earnings per unit for the three and six months ended June 30, 2019 and 2018 is computed as follows (amounts in thousands, except per share amounts):
 
Three Months Ended
 
Six Months Ended
 
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Numerator:
 
 
 
 
 
 
 
Net income
$
18,930

 
$
30,184

 
$
28,786

 
$
48,242

Private perpetual preferred unit distributions
(234
)
 
(234
)
 
(468
)
 
(468
)
Earnings allocated to unvested units
(250
)
 
(212
)
 
(403
)
 
(374
)
Net income attributable to common unitholders - basic and diluted
$
18,446

 
$
29,738

 
$
27,915

 
$
47,400

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average units outstanding - basic
298,131

 
297,244

 
298,100

 
297,028

Effect of dilutive securities:
 
 
 
 
 
 
 
  Stock-based compensation plans


 

 

 
1

Weighted average units outstanding - diluted
298,131

 
297,244

 
298,100

 
297,029

 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
Basic
$
0.06

 
$
0.10

 
$
0.09

 
$
0.16

Diluted
$
0.06

 
$
0.10

 
$
0.09

 
$
0.16