Shareholders' Equity

6 Months Ended

Jun. 30, 2012

Stockholders' Equity Note [Abstract]

SHAREHOLDERS’ EQUITY

SHAREHOLDERS’ EQUITY

The following table provides a summary of dividends declared and paid per share:

	Six Months Ended June 30,
	2012				2011
	Declared		Paid		Declared		Paid
Common shares	$	1.380	$	1.380	$	1.340	$	1.340
5.417% Series 1 Cumulative Convertible Preferred shares	$	0.677	$	0.677	$	0.677	$	0.677

On May 8, 2012, we replaced our existing at the market (“ATM”) equity program with a new ATM equity program in which we may from time to time offer and sell common shares having an aggregate offering price of up to $300.0 million. We intend to use the net proceeds to fund potential acquisition opportunities, fund our development and redevelopment pipeline, repay amounts outstanding under our revolving credit facility and/or for general corporate purposes. For the three months ended June 30, 2012, we issued 161,324 common shares at a weighted average price per share of $101.23 for net cash proceeds of $16.0 million and paid $0.2 million in commissions related to the sales of these common shares. For the six months ended June 30, 2012, we issued 382,116 common shares at a weighted average price per share of $98.54 for net cash proceeds of $37.0 million and paid $0.5 million in commissions related to the sales of these common shares.