XML 45 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME      
Rental income $ 211,076 $ 178,950 $ 117,219
Expenses:      
Real estate taxes 23,413 19,345 12,177
Utility expenses 16,810 15,316 9,064
Other operating expenses 38,558 31,784 19,937
Depreciation and amortization 51,166 40,089 24,239
Loss on asset impairment 494    
Acquisition related costs 1,614 3,504 5,750
General and administrative 12,355 10,898 7,061
Total expenses 144,410 120,936 78,228
Operating income 66,666 58,014 38,991
Interest and other income 29 104 103
Interest expense (including net amortization of debt premiums and deferred financing fees of $1,332, $1,045 and $2,283, respectively) (16,892) (12,057) (7,351)
Loss on extinguishment of debt     (3,786)
Equity in earnings (losses) of an investee 316 139 (1)
Income before income tax expense 50,119 46,200 27,956
Income tax expense (159) (203) (161)
Net income 49,960 45,997 27,795
Other Comprehensive income:      
Equity in unrealized gain of an investee 22 75 2
Other comprehensive income 22 75 2
Comprehensive income $ 49,982 $ 46,072 $ 27,797
Weighted average common shares outstanding (in shares) 48,617 43,368 34,341
Net income per common share (in dollars per share) $ 1.03 $ 1.06 $ 0.81