XML 15 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues        
Rental income $ 34,852 $ 24,099 $ 67,907 $ 46,050
Interest income 3,399 2,097 6,297 4,206
Expense reimbursements 7,307 5,760 15,278 11,162
Other 378 789 3,754 1,294
Total revenues 45,936 32,745 93,236 62,712
Operating Expenses        
Property operating 5,781 4,620 11,418 9,042
Other operating 421 1,281 1,933 2,316
Real estate taxes 5,695 4,744 10,891 8,883
General and administrative 6,301 5,205 11,927 11,130
Depreciation and amortization 10,976 8,201 21,604 15,351
Total operating expenses 29,174 24,051 57,773 46,722
Operating income 16,762 8,694 35,463 15,990
Equity in earnings of unconsolidated affiliates 815 4,591 3,065 4,535
Impairment of asset (1,500) 0 (1,500) 0
Interest and other finance expense (10,913) (7,070) (21,222) (13,626)
Income from continuing operations before income taxes 5,164 6,215 15,806 6,899
Income tax (provision) benefit (7) (1,039) 133 (1,227)
Income from continuing operations 5,157 5,176 15,939 5,672
Discontinued Operations        
Operating income from discontinued operations 266 3,332 663 5,659
Gain on sale of property 4,191 2,668 4,191 2,668
Income from discontinued operations 4,457 6,000 4,854 8,327
Net income 9,614 11,176 20,793 13,999
Noncontrolling interests        
Continuing operations 3,054 669 1,846 3,661
Discontinued operations (3,911) (5,006) (4,259) (6,811)
Net income attributable to noncontrolling interests (857) (4,337) (2,413) (3,150)
Net income attributable to Common Shareholders $ 8,757 $ 6,839 $ 18,380 $ 10,849
Basic Earnings per Share        
Income from continuing operations (in dollars per share) $ 0.15 $ 0.13 $ 0.33 $ 0.21
Income from discontinued operations (in dollars per share) $ 0.01 $ 0.02 $ 0.01 $ 0.04
Basic earnings per share (in dollars per share) $ 0.16 $ 0.15 $ 0.34 $ 0.25
Diluted Earnings per Share        
Income from continuing operations (in dollars per share) $ 0.15 $ 0.13 $ 0.33 $ 0.21
Income from discontinued operations (in dollars per share) $ 0.01 $ 0.02 $ 0.01 $ 0.04
Diluted earnings per share (in dollars per share) $ 0.16 $ 0.15 $ 0.34 $ 0.25