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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES        
Rental income $ 95,383 $ 92,095 $ 285,867 $ 267,877
Mortgage interest 29 44 91 3,634
Other operating 1,313 1,474 3,931 4,345
Revenues 96,725 93,613 289,889 275,856
EXPENSES        
Property operating 35,247 34,204 103,437 100,671
General and administrative 6,258 5,185 19,709 16,818
Depreciation 26,571 25,345 79,511 73,503
Amortization 2,386 2,656 7,528 8,190
Bad debts, net of recoveries (21) 3 (202) 123
Total Expenses 70,441 67,393 209,983 199,305
OTHER INCOME (EXPENSE)        
Gain on sales of properties 5,915 0 47,464 0
Interest expense (15,113) (18,192) (50,649) (54,176)
Loss on extinguishment of debt 0 0 (27,998) 0
Pension termination 0 0 (5,260) 0
Impairment of real estate assets (310) 0 (3,638) 0
Impairment of internally-developed software 0 0 (654) 0
Interest and other income, net 72 409 311 2,545
Total other income (expense) (9,436) (17,783) (40,424) (51,631)
INCOME FROM CONTINUING OPERATIONS 16,848 8,437 39,482 24,920
DISCONTINUED OPERATIONS        
Income from discontinued operations 61 221 725 238
Impairments of real estate assets 0 (4,505) 0 (11,034)
Gain on sale of property 10,571 0 10,571 3
INCOME (LOSS) FROM DISCONTINUED OPERATIONS 10,632 (4,284) 11,296 (10,793)
NET INCOME 27,480 4,153 50,778 14,127
Less: Net income attributable to noncontrolling interests 0 (162) 0 (313)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 27,480 $ 3,991 $ 50,778 $ 13,814
BASIC EARNINGS (LOSS) PER COMMON SHARE:        
Income from continuing operations (in dollars per share) $ 0.17 $ 0.09 $ 0.40 $ 0.26
Discontinued operations (in dollars per share) 0.11 (0.05) 0.11 (0.11)
Net income attributable to common stockholders (in dollars per share) 0.28 0.04 0.51 0.15
DILUTED EARNINGS (LOSS) PER COMMON SHARE:        
Income from continuing operations (in dollars per share) 0.17 0.09 0.40 0.26
Discontinued operations (in dollars per share) 0.10 (0.05) 0.11 (0.12)
Net income attributable to common stockholders (in dollars per share) $ 0.27 $ 0.04 $ 0.51 $ 0.14
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - BASIC (in shares) 99,337,084 95,858,034 98,993,602 94,845,532
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in shares) 99,996,555 97,329,044 99,693,670 96,310,418
DIVIDENDS DECLARED, PER COMMON SHARE, DURING THE PERIOD (in dollars per share) $ 0.30 $ 0.30 $ 0.90 $ 0.90