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Earnings Per Share | 12 Months Ended
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Dec. 31, 2016
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The two class method is used to determine earnings per share because unvested restricted shares and unvested LTIP units are considered to be participating shares. The LTIP units held by the non-controlling interest holders, which may be converted to common shares of beneficial interest, have been excluded from the denominator of the diluted earnings per share calculation as there would be no effect on the amounts since limited partners' share of income or loss would also be added back to net income or loss. Unvested restricted shares, unvested long-term incentive plan units and unvested Class A Performance units that could potentially dilute basic earnings per share in the future would not be included in the computation of diluted loss per share, for the periods where a loss has been recorded, because they would have been anti-dilutive for the periods presented. The following is a reconciliation of the amounts used in calculating basic and diluted net income per share (in thousands, except share and per share data):
| For the year ended
| December 31,
| 2016 |  | 2015 |  | 2014
Numerator: |  |  |  |  |
Net income | $ | 31,483 |  |  | $ | 32,966 |  |  | $ | 66,873 |
Dividends paid on unvested shares and LTIP units | (189 | ) |  | (151 | ) |  | (216 | )
Undistributed earnings allocated to unvested shares and LTIP units | — |  |  | — |  |  | (324 | )
Net income attributable to common shareholders | $ | 31,294 |  |  | $ | 32,815 |  |  | $ | 66,333 |
Denominator: |  |  |  |  |
Weighted average number of common shares - basic | 38,299,067 |  |  | 37,917,871 |  |  | 28,531,094 |
Effect of dilutive securities: |  |  |  |  |
Unvested shares | 183,808 |  |  | 404,414 |  |  | 315,630 |
Weighted average number of common shares - diluted | 38,482,875 |  |  | 38,322,285 |  |  | 28,846,724 |
Basic income per Common Share: |  |  |  |  |
Net income attributable to common shareholders per weighted average common share | $ | 0.82 |  |  | $ | 0.87 |  |  | $ | 2.32 |
Diluted income per Common Share: |  |  |  |  |
Net income attributable to common shareholders per weighted average common share | $ | 0.81 |  |  | $ | 0.86 |  |  | $ | 2.30 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1278-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=65016374&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
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