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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES        
Rental income $ 111,538 $ 96,803 $ 216,535 $ 188,359
Other property related income 12,643 11,385 24,406 21,928
Property management fee income 2,345 1,683 4,456 3,272
Total revenues 126,526 109,871 245,397 213,559
OPERATING EXPENSES        
Property operating expenses 41,607 38,210 81,826 75,641
Depreciation and amortization 41,448 38,086 80,804 75,981
General and administrative 7,891 7,114 16,119 14,287
Acquisition related costs 2,563 753 4,905 1,263
Total operating expenses 93,509 84,163 183,654 167,172
OPERATING INCOME 33,017 25,708 61,743 46,387
Interest:        
Interest expense on loans (12,200) (10,868) (24,284) (21,925)
Loan procurement amortization expense (611) (659) (1,216) (1,205)
Equity in losses of real estate ventures (724) (100) (1,236) (338)
Other 901 (208) 1,231 (524)
Total other expense (12,634) (11,835) (25,505) (23,992)
NET INCOME 20,383 13,873 36,238 22,395
NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS        
Noncontrolling interests in the Operating Partnership (227) (161) (399) (252)
Noncontrolling interest in subsidiaries 268 12 335 15
NET INCOME ATTRIBUTABLE TO THE COMPANY 20,424 13,724 36,174 22,158
Distribution to preferred shareholders (1,502) (1,502) (3,004) (3,004)
NET INCOME ATTRIBUTABLE TO THE COMPANY'S COMMON SHAREHOLDERS $ 18,922 $ 12,222 $ 33,170 $ 19,154
Basic earnings per share attributable to common shareholders (in dollars per share) $ 0.11 $ 0.07 $ 0.19 $ 0.12
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.11 $ 0.07 $ 0.19 $ 0.11
Weighted-average basic shares outstanding (in shares) 177,880 166,683 176,838 166,096
Weighted-average diluted shares outstanding (in shares) 179,221 168,224 178,172 167,655