Shareholders Equity

12 Months Ended

Dec. 31, 2012

Shareholders' Equity [Abstract]

Shareholders' Equity

12. Shareholders' Equity

Common Shares

As of December 31, 2012, there were 186,734,711 common shares outstanding. During 2012, we paid an aggregate of $699,318,000 of common dividends comprised of quarterly common dividends of $0.69 per share, and a special long-term capital gain dividend of $1.00 per share.On January 17, 2013, weincreased our quarterlycommon dividend to $0.73per share (anew indicated annual rate of $2.92 per share).

12. Shareholders' Equity – continued

Preferred Shares

On July 11, 2012, we sold 12,000,000 5.70% Series K Cumulative Redeemable Preferred Shares at a price of $25.00 per share in an underwritten public offering pursuant to an effective registration statement. We retained aggregate net proceeds of $290,971,000, after underwriters' discounts and issuance costs and contributed the net proceeds to the Operating Partnership in exchange for 12,000,000 Series K Preferred Units (with economic terms that mirror those of the Series K Preferred Shares). Dividends on the Series K Preferred Shares are cumulative and payable quarterly in arrears. The Series K Preferred Shares are not convertible into, or exchangeable for, any of our properties or securities. On or after five years from the date of issuance (or sooner under limited circumstances), we may redeem the Series K Preferred Shares at a redemption price of $25.00 per share, plus accrued and unpaid dividends through the date of redemption. The Series K Preferred Shares have no maturity date and will remain outstanding indefinitely unless redeemed by us.

On August 16, 2012, we redeemed all of the outstanding 7.0% Series E Cumulative Redeemable Preferred Shares at par, for an aggregate of $75,000,000 in cash, plus accrued and unpaid dividends through the date of redemption.

The following table sets forth the details of our preferred shares of beneficial interest as of December 31,2012and2011.

(Amounts in thousands, except share and
per share amounts)		Balance as of				Shares Outstanding at		Per Share		Annual
		December 31,				December 31,		Liquidation		Dividend
Preferred Shares		2012		2011		2012	2011	Preference		Rate(1)
Convertible Preferred:
	6.5% Series A: authorized 83,977 shares(2)	$	1,682	$	1,787	34,609	36,709	$	50.00	$	3.25
Cumulative Redeemable:
	6.75% Series F: authorized 6,000,000 shares(3)		144,720		144,720	6,000,000	6,000,000	$	25.00	$	1.6875
	6.625% Series G: authorized 8,000,000 shares(4)		193,135		193,135	8,000,000	8,000,000	$	25.00	$	1.656
	6.75% Series H: authorized 4,500,000 shares(3)		108,549		108,549	4,500,000	4,500,000	$	25.00	$	1.6875
	6.625% Series I: authorized 10,800,000 shares(4)		262,379		262,379	10,800,000	10,800,000	$	25.00	$	1.656
	6.875% Series J: authorized 9,850,000 shares(4)		238,842		238,842	9,850,000	9,850,000	$	25.00	$	1.71875
	5.70% Series K: authorized 12,000,000 shares(4)		290,971		-	12,000,000	-	$	25.00	$	1.425
	7.0% Series E: authorized 3,000,000 shares(4)		-		72,248	-	3,000,000	$	25.00	$	1.75
		$	1,240,278	$	1,021,660	51,184,609	42,186,709
(1)	Dividends on preferred shares are cumulative and are payable quarterly in arrears.
(2)	Redeemable at our option, under certain circumstances, at a redemption price plus accrued and unpaid dividends or, convertible at anytime at the option of the holder for 1.4334 common shares per Series A Preferred Share.
(3)	Redeemed on February 19, 2013 (See Note 25 - Subsequent Events).
(4)	Redeemable at our option at a redemption price of $25.00 per share, plus accrued and unpaid dividends through the date of redemption.

Accumulated Other Comprehensive Income

Accumulated other comprehensive (loss) income was $(18,946,000) and $73,729,000 as of December 31, 2012 and 2011, respectively, and primarily consists of (i) accumulated unrealized gains from the mark-to-market of marketable securities classified as available-for-sale, (ii) our prorata share of other comprehensive income of non-consolidated subsidiaries and (iii) changes in the value of our interest rate swap.