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Condensed Consolidated Statements of Operations and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenues:        
Rentals, net $ 127,548 $ 119,211 $ 374,266 $ 342,507
Other 3,119 3,108 9,486 8,346
Total 130,667 122,319 383,752 350,853
Expenses:        
Depreciation and amortization 37,122 34,591 112,347 97,845
Operating 25,530 25,191 74,213 69,048
Real estate taxes, net 15,624 14,499 45,242 41,306
Impairment loss 2,358 197 2,579 9,585
General and administrative 5,966 6,417 18,818 21,101
Total 86,600 80,895 253,199 238,885
Operating Income 44,067 41,424 130,553 111,968
Interest Expense, net (27,660) (27,482) (73,689) (86,692)
Interest and Other Income, net 1,864 1,818 5,788 4,786
Gain on Sale of Real Estate Joint Venture and Partnership Interests 7 0 11,599 5,562
Equity in Earnings (Losses) of Real Estate Joint Ventures and Partnerships, net 5,125 4,905 14,467 (6,715)
Gain on Acquisition 0 1,869 0 1,869
Benefit (Provision) for Income Taxes 215 (722) 214 (378)
Income from Continuing Operations 23,618 21,812 88,932 30,400
Operating Income from Discontinued Operations 394 5,074 5,656 16,463
Gain on Sale of Property from Discontinued Operations 38,214 14,826 116,226 49,724
Income from Discontinued Operations 38,608 19,900 121,882 66,187
Gain on Sale of Property 163 335 570 859
Net Income 62,389 42,047 211,384 97,446
Less: Net Income Attributable to Noncontrolling Interests (1,847) (1,774) (41,056) (4,557)
Net Income Adjusted for Noncontrolling Interests 60,542 40,273 170,328 92,889
Dividends on Preferred Shares (2,710) (8,869) (15,463) (26,607)
Redemption Costs of Preferred Shares 0 0 (17,944) 0
Net Income Attributable to Common Shareholders 57,832 31,404 136,921 66,282
Earnings Per Common Share - Basic:        
Income from continuing operations attributable to common shareholders $ 0.16 $ 0.10 $ 0.43 $ 0.01
Income from discontinued operations $ 0.32 $ 0.16 $ 0.70 $ 0.54
Net income attributable to common shareholders $ 0.48 $ 0.26 $ 1.13 $ 0.55
Earnings Per Common Share - Diluted:        
Income from continuing operations attributable to common shareholders $ 0.16 $ 0.10 $ 0.43 $ 0.01
Income from discontinued operations $ 0.31 $ 0.16 $ 0.69 $ 0.53
Net income attributable to common shareholders $ 0.47 $ 0.26 $ 1.12 $ 0.54
Comprehensive Income:        
Net Income 62,389 42,047 211,384 97,446
Other Comprehensive Income:        
Net unrealized loss on investments, net of taxes (34) 0 (34) 0
Net unrealized gain (loss) on derivatives (293) (49) 6,735 (181)
Amortization of loss on derivatives 480 664 1,802 1,985
Retirement liability adjustment 364 0 1,093 0
Total 517 615 9,596 1,804
Comprehensive Income 62,906 42,662 220,980 99,250
Comprehensive Income Attributable to Noncontrolling Interests (1,847) (1,774) (41,056) (4,557)
Comprehensive Income Adjusted for Noncontrolling Interests $ 61,059 $ 40,888 $ 179,924 $ 94,693