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Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Schedule of earnings per share
In the dilutive EPS calculation, dilutive stock options were calculated using the treasury stock method consistent with prior periods. There were no anti-dilutive stock options for the three months ended March 31, 2015 and 2014. The conversions of downREIT operating partnership units and 5.417% Series 1 Cumulative Convertible Preferred Shares are anti-dilutive for all periods presented and accordingly, have been excluded from the weighted average common shares used to compute diluted EPS.
 
Three Months Ended
 
March 31,
 
2015
 
2014
 
(In thousands, except per share data)
NUMERATOR
 
 
 
Net income
$
48,203

 
$
40,545

Less: Preferred share dividends
(135
)
 
(135
)
Less: Net income attributable to noncontrolling interests
(2,017
)
 
(1,792
)
Less: Earnings allocated to unvested shares
(210
)
 
(238
)
Net income available for common shareholders, basic and diluted
$
45,841

 
$
38,380

DENOMINATOR
 
 
 
Weighted average common shares outstanding—basic
68,368

 
66,615

Effect of dilutive securities:
 
 
 
Stock options
195

 
158

Weighted average common shares outstanding—diluted
68,563

 
66,773

 
 
 
 
Earnings per common share, basic
$
0.67

 
$
0.58

 
 
 
 
Earnings per common share, diluted
$
0.67

 
$
0.57

Income from continuing operations attributable to the Trust
$
46,186

 
$
38,753