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CONSOLIDATED STATEMENTS OF INCOME (unaudited) (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
REVENUE        
Rental $ 102,367 $ 82,202 $ 199,956 $ 164,614
Other 259 195 398 301
Total revenue 102,626 82,397 200,354 164,915
EXPENSES        
Depreciation and amortization 29,001 23,287 55,750 46,280
Interest 25,647 21,576 50,769 42,971
General and administrative 7,987 6,650 15,857 13,360
Property 1,656 1,646 3,462 3,623
Income taxes 368 277 735 555
Total expenses 64,659 53,436 126,573 106,789
Income from continuing operations 37,967 28,961 73,781 58,126
Income from discontinued operations:        
Real estate acquired for resale by Crest 220 238 442 449
Real estate held for investment 1,061 1,849 1,024 2,679
Total income from discontinued operations 1,281 2,087 1,466 3,128
Net income 39,248 31,048 75,247 61,254
Preferred stock cash dividends (6,063) (6,063) (12,127) (12,127)
Net income available to common stockholders $ 33,185 $ 24,985 $ 63,120 $ 49,127
Income from continuing operations:        
Basic (in dollars per share) $ 0.25 $ 0.22 $ 0.50 $ 0.44
Diluted (in dollars per share) $ 0.25 $ 0.22 $ 0.50 $ 0.44
Net income:        
Basic (in dollars per share) $ 0.26 $ 0.24 $ 0.52 $ 0.47
Diluted (in dollars per share) $ 0.26 $ 0.24 $ 0.51 $ 0.47
Weighted average common shares outstanding:        
Basic (in shares) 125,999,323 103,612,454 122,547,027 103,653,250
Diluted (in shares) 126,202,047 103,765,828 122,691,418 103,778,609