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CONSOLIDATED STATEMENTS OF CASH FLOWS - Unaudited (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
OPERATING ACTIVITIES    
Net Income $ 20,502 $ 16,308
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization from continuing operations 46,817 42,552
Depreciation and amortization from discontinued operations 176 238
Stock-based compensation expense 2,781 1,910
Gain (Loss) on Sale of Property Plant Equipment (2,036) (27)
Changes in operating assets and liabilities:    
Accrued income and other assets 2,832 1,007
Accounts payable, accrued expenses and prepaid rent 1,977 7,042
Other 134 (104)
NET CASH PROVIDED BY OPERATING ACTIVITIES 73,183 68,926
INVESTING ACTIVITIES    
Real estate development (34,834) (28,982)
Purchases of real estate (10,950) (23,450)
Real estate improvements (13,670) (14,089)
Proceeds from sales of real estate investments 7,399 0
Changes in accrued development costs 72 2,313
Changes in other assets and other liabilities (6,426) (5,014)
NET CASH USED IN INVESTING ACTIVITIES (58,409) (69,222)
FINANCING ACTIVITIES    
Proceeds from bank borrowings 186,072 213,034
Repayments on bank borrowings (294,137) (160,030)
Proceeds from mortgage notes payable 54,000 65,000
Principal payments on mortgage notes payable (68,282) (75,222)
Proceeds from Issuance of Long-term Debt 80,000 0
Debt issuance costs (1,474) (632)
Distributions paid to stockholders (45,035) (41,880)
Proceeds from common stock offerings 74,903 450
Proceeds from exercise of stock options 108 133
Proceeds from dividend reinvestment plan 168 184
Other (244) (431)
NET CASH USED IN FINANCING ACTIVITIES (13,921) 606
DECREASE IN CASH AND CASH EQUIVALENTS 853 310
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 174 137
CASH AND CASH EQUIVALENTS AT END OF PERIOD 1,027 447
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest, net of amount capitalized of $3,362 and $2,695 for 2012 and 2011, respectively $ 26,162 $ 25,340