BENEFICIARIES’ EQUITY OF THE PARENT COMPANY

Earnings per Share (EPS)

The following table details the number of shares and net income used to calculate basic and diluted earnings per share (in thousands, except share and per share amounts; results may not add due to rounding):



	Three-month periods ended June 30,
	2012						2011
	Basic			Diluted			Basic			Diluted
Numerator
Loss from continuing operations	$	(4,147	)	$	(4,147	)	$	(11,813	)	$	(11,813	)
Net income from continuing operations attributable to non-controlling interests	169			169			276			276
Amount allocable to unvested restricted shareholders	(95		)	(95		)	(121		)	(121		)
Preferred share dividends	(3,049		)	(3,049		)	(1,998		)	(1,998		)
Preferred share redemption charge	(2,090		)	(2,090		)	—			—
Loss from continuing operations available to common shareholders	(9,212		)	(9,212		)	(13,656		)	(13,656		)
Income from discontinued operations	10,949			10,949			5,579			5,579
Discontinued operations attributable to non-controlling interests	(200		)	(200		)	(111		)	(111		)
Discontinued operations attributable to common shareholders	10,749			10,749			5,468			5,468
Net income (loss) attributable to common shareholders	$	1,537		$	1,537		$	(8,188	)	$	(8,188	)
Denominator
Weighted-average shares outstanding	143,300,637			143,300,637			135,342,538			135,342,538
Earnings per Common Share:
Loss from continuing operations attributable to common shareholders	$	(0.07	)	$	(0.07	)	$	(0.10	)	$	(0.10	)
Discontinued operations attributable to common shareholders	0.08			0.08			0.04			0.04
Net income (loss) attributable to common shareholders	$	0.01		$	0.01		$	(0.06	)	$	(0.06	)



	Six-month periods ended June 30,
	2012						2011
	Basic			Diluted			Basic			Diluted
Numerator
Loss from continuing operations	$	(10,494	)	$	(10,494	)	$	(14,139	)	$	(14,139	)
Net income (loss) from continuing operations attributable to non-controlling interests	322			322			364			364
Amount allocable to unvested restricted shareholders	(191		)	(191		)	(263		)	(263		)
Preferred share dividends	(5,047		)	(5,047		)	(3,996		)	(3,996		)
Preferred share redemption charge	(2,090		)	(2,090		)	—			—
Loss from continuing operations available to common shareholders	(17,500		)	(17,500		)	(18,034		)	(18,034		)
Income from discontinued operations	26,632			26,632			7,415			7,415
Discontinued operations attributable to non-controlling interests	(487		)	(487		)	(148		)	(148		)
Discontinued operations attributable to common shareholders	26,145			26,145			7,267			7,267
Net income (loss) attributable to common shareholders	$	8,645		$	8,645		$	(10,767	)	$	(10,767	)
Denominator
Weighted-average shares outstanding	143,060,796			143,060,796			134,962,093			134,962,093
Earnings per Common Share:
Loss from continuing operations attributable to common shareholders	$	(0.12	)	$	(0.12	)	$	(0.13	)	$	(0.13	)
Discontinued operations attributable to common shareholders	0.18			0.18			0.05			0.05
Net income (loss) attributable to common shareholders	$	0.06		$	0.06		$	(0.08	)	$	(0.08	)