Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2013

Equity [Abstract]

Reconciliation of total equity

The following table provides a reconciliation of total stockholders' equity for the nine months ended September 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	83		219,960			—			—			—			220,043			—			220,043
Common stock redemptions	—		(247		)	—			—			—			(247		)	—			(247		)
Stock-based compensation	1		4,130			—			—			—			4,131			—			4,131
Total comprehensive loss	—		—			—			(5,439		)	—			(5,439		)	(34		)	(5,473		)
Dividends to common stockholders ($0.90 per share)	—		—			—			—			(82,815		)	(82,815		)	—			(82,815		)
Distributions to non-controlling interests	—		—			—			—			—			—			(3		)	(3		)
Proceeds from non-controlling interests	—		—			—			—			—			—			1,749			1,749
Balance at September 30, 2013	$	959	$	2,324,140		$	(2,092	)	$	795,977		$	(1,862,367	)	$	1,256,617		$	1,712		$	1,258,329

Reconciliation of beginning and ending common stock outstanding

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

	Nine Months Ended	Year Ended
	September 30, 2013	December 31, 2012
Balance, beginning of period	87,514,336	77,843,883
Issuance of common stock	8,280,789	9,275,895
Nonvested share-based awards, net	77,610	394,558
Balance, end of period	95,872,735	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 nine months ended September 30, 2013 and 2012.

	Three Months Ended September 30,						Nine Months Ended September 30,
(Dollars in thousands, except per share data)	2013			2012			2013			2012
Weighted average Common Shares outstanding
Weighted average Common Shares outstanding	95,220,031			78,204,382			91,665,703			78,042,979
Nonvested shares	(1,777,203		)	(1,491,788		)	(1,794,606		)	(1,508,471		)
Weighted average Common Shares outstanding—Basic	93,442,828			76,712,594			89,871,097			76,534,508
Weighted average Common Shares—Basic	93,442,828			76,712,594			89,871,097			76,534,508
Dilutive effect of restricted stock	1,278,902			1,157,948			—			1,127,211
Dilutive effect of employee stock purchase plan	114,264			150,429			—			137,572
Weighted average Common Shares outstanding—Diluted	94,835,994			78,020,971			89,871,097			77,799,291
Net Income (Loss)
Income (loss) from continuing operations	$	4,941		$	876		$	(21,433	)	$	2,271
Noncontrolling interests’ share in net (income) loss	(18		)	(20		)	34			(40		)
Income (loss) from continuing operations attributable to common stockholders	4,923			856			(21,399		)	2,231
Discontinued operations	14,842			4,959			15,960			9,626
Net income (loss) attributable to common stockholders	$	19,765		$	5,815		$	(5,439	)	$	11,857
Basic Earnings (Loss) Per Common Share
Income (loss) from continuing operations	$	0.05		$	0.01		$	(0.24	)	$	0.03
Discontinued operations	0.16			0.07			0.18			0.12
Net income (loss) attributable to common stockholders	$	0.21		$	0.08		$	(0.06	)	$	0.15
Diluted Earnings (Loss) Per Common Share
Income (loss) from continuing operations	$	0.05		$	0.01		$	(0.24	)	$	0.03
Discontinued operations	0.16			0.06			0.18			0.12
Net income (loss) attributable to common stockholders	$	0.21		$	0.07		$	(0.06	)	$	0.15

Summary of the activity under the Incentive Plan

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Stock-based awards, beginning of period	1,778,083		1,508,274		1,770,061		1,430,675
Granted	—		—		87,043		131,089
Vested	(890	)	(282	)	(79,911	)	(53,772	)
Forfeited	—		—		—		—
Stock-based awards, end of period	1,777,193		1,507,992		1,777,193		1,507,992

Summary of employee stock purchase plan activity

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Outstanding and exercisable, beginning of period	433,801		497,736		433,452		425,196
Granted	—		—		246,717		327,936
Exercised	(7,478	)	(24,381	)	(60,483	)	(45,749	)
Forfeited	(14,007	)	(17,781	)	(36,819	)	(69,494	)
Expired	—		—		(170,551	)	(182,315	)
Outstanding and exercisable, end of period	412,316		455,574		412,316		455,574