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Earnings Per Common Share
 3 Months Ended
Sep. 30, 2012
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]
Earnings Per Common Share
Earnings per common share are based on the weighted average number of common shares outstanding during each year. Codification Topic “Earnings Per Share” (“FASB ASC 260”) defines the calculation of basic and fully diluted earnings per share. Basic and fully diluted earnings per share are based on the weighted average shares outstanding during each year and basic earnings per share exclude any dilutive effects of options, warrants and convertible securities. The conversion of OP Units has been excluded from the basic earnings per share calculation. The conversion of an OP Unit for a share of common stock has no material effect on earnings per common share on a fully diluted basis.
The following table sets forth the computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2012 and 2011 (amounts in thousands, except per share data):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2012
 
2011
 
2012
 
2011
Numerators:
 
 
 
 
 
 
 
Net Income Available for Common Shares – Fully Diluted:
 
 
 
 
 
 
 
Net income (loss) available for Common Shares – basic
$
16,009

 
$
(2,853
)
 
$
30,504

 
$
22,934

Amounts allocated to dilutive securities
1,503

 
177

 
2,891

 
3,587

Net income (loss) available for Common Shares – fully diluted
$
17,512

 
$
(2,676
)
 
$
33,395

 
$
26,521

Denominator:
 
 
 
 
 
 
 
Weighted average Common Shares outstanding – basic
41,190

 
38,346

 
41,137

 
34,017

Effect of dilutive securities:
 
 
 
 
 
 
 
Redemption of Common OP Units for Common Shares
3,942

 
4,286

 
3,959

 
4,311

Redemption of Series B Preferred Stock
—

 
598

 
—

 
202

Employee stock options and restricted shares
315

 
372

 
322

 
328

Weighted average Common Shares outstanding – fully diluted
45,447

 
43,602

 
45,418

 
38,858

Earnings per Common Share – Basic:
 
 
 
 
 
 
 
Net income (loss) available for Common Shares
$
0.39

 
$
(0.07
)
 
$
0.74

 
$
0.67

Earnings per Common Share – Fully Diluted:
 
 
 
 
 
 
 
Net income (loss) available for Common Shares (a)
$
0.39

 
$
(0.07
)
 
$
0.74

 
$
0.67

________________________________
(a)
During the three months ended September 30, 2011, the Company reported a net loss available for common shares. As a result of the net loss, the Company's unvested restricted stock, common OP Units and Series B Preferred Stock were considered anti-dilutive, and therefore earnings per common share-fully diluted is computed in the same manner as earnings per share-basic.