Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2013

Equity [Abstract]

Reconciliation of total equity

The following table provides a reconciliation of total stockholders' equity for the six months ended June 30, 2013:

(Dollars in thousands, except per share data)	Common Stock		Additional Paid-In Capital			Accumulated Other Comprehensive Loss			Cumulative Net Income Attributable to Common Stockholders			Cumulative Dividends			Total Stockholders’ Equity			Non-controlling Interests			Total Equity
Balance at December 31, 2012	$	875	$	2,100,297		$	(2,092	)	$	801,416		$	(1,779,552	)	$	1,120,944		$	—		$	1,120,944
Issuance of common stock	49		132,368			—			—			—			132,417			—			132,417
Common stock redemptions	—		(246		)	—			—			—			(246		)	—			(246		)
Stock-based compensation	1		2,984			—			—			—			2,985			—			2,985
Total comprehensive loss	—		—			—			(25,204		)	—			(25,204		)	(52		)	(25,256		)
Dividends to common stockholders ($0.60 per share)	—		—			—			—			(54,061		)	(54,061		)	—			(54,061		)
Distributions to non-controlling interests	—		—			—			—			—			—			(3		)	(3		)
Proceeds from non-controlling interests	—		—			—			—			—			—			1,388			1,388
Balance at June 30, 2013	$	925	$	2,235,403		$	(2,092	)	$	776,212		$	(1,833,613	)	$	1,176,835		$	1,333		$	1,178,168

Reconciliation of beginning and ending common stock outstanding

The following table provides a reconciliation of the beginning and ending common stock outstanding for the six months ended June 30, 2013 and the year ended December 31, 2012:

	Six Months Ended	Year Ended
	June 30, 2013	December 31, 2012
Balance, beginning of period	87,514,336	77,843,883
Issuance of common stock	4,904,646	9,275,895
Restricted stock-based awards, net of forfeitures	77,667	394,558
Balance, end of period	92,496,649	87,514,336

Earnings (loss) per share

The following table sets forth the computation of basic and diluted earnings (loss) per common share for the three and six months ended June 30, 2013 and 2012.

	Three Months Ended June 30,						Six Months Ended June 30,
(Dollars in thousands, except per share data)	2013			2012			2013			2012
Weighted average Common Shares outstanding
Weighted average Common Shares outstanding	90,988,589			77,977,278			89,859,083			77,961,391
Nonvested shares	(1,784,422		)	(1,515,012		)	(1,803,451		)	(1,516,904		)
Weighted average Common Shares outstanding—Basic	89,204,167			76,462,266			88,055,632			76,444,487
Weighted average Common Shares—Basic	89,204,167			76,462,266			88,055,632			76,444,487
Dilutive effect of restricted stock	—			1,127,522			—			1,108,456
Dilutive effect of employee stock purchase plan	—			122,705			—			125,419
Weighted average Common Shares outstanding—Diluted	89,204,167			77,712,493			88,055,632			77,678,362
Net Income (Loss)
Income (loss) from continuing operations	$	(26,522	)	$	2,220		$	(24,461	)	$	3,654
Noncontrolling interests’ share in net (income) loss	33			(20		)	52			(20		)
Income (loss) from continuing operations attributable to common stockholders	(26,489		)	2,200			(24,409		)	3,634
Discontinued operations	2,284			708			(795		)	2,408
Net income (loss) attributable to common stockholders	$	(24,205	)	$	2,908		$	(25,204	)	$	6,042
Basic Earnings (Loss) Per Common Share
Income (loss) from continuing operations	$	(0.30	)	$	0.03		$	(0.28	)	$	0.05
Discontinued operations	0.03			0.01			(0.01		)	0.03
Net income (loss) attributable to common stockholders	$	(0.27	)	$	0.04		$	(0.29	)	$	0.08
Diluted Earnings (Loss) Per Common Share
Income (loss) from continuing operations	$	(0.30	)	$	0.03		$	(0.28	)	$	0.05
Discontinued operations	0.03			0.01			(0.01		)	0.03
Net income (loss) attributable to common stockholders	$	(0.27	)	$	0.04		$	(0.29	)	$	0.08

Summary of the activity under the Incentive Plan

A summary of the activity under the stock-based incentive plans for the three and six months ended June 30, 2013 and 2012 is included in the table below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Stock-based awards, beginning of period	1,813,073		1,518,512		1,770,061		1,430,675
Granted	20,256		27,864		87,043		131,089
Vested	(55,246	)	(38,102	)	(79,021	)	(53,490	)
Forfeited	—		—		—		—
Stock-based awards, end of period	1,778,083		1,508,274		1,778,083		1,508,274

Summary of employee stock purchase plan activity

A summary of the activity under the Employee Stock Purchase Plan for the three and six months ended June 30, 2013 and 2012 is included in the table below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Outstanding and exercisable, beginning of period	458,694		530,070		433,452		425,196
Granted	—		—		246,717		327,936
Exercised	(13,490	)	(8,787	)	(53,005	)	(21,368	)
Forfeited	(11,403	)	(23,547	)	(22,812	)	(51,713	)
Expired	—		—		(170,551	)	(182,315	)
Outstanding and exercisable, end of period	433,801		497,736		433,801		497,736