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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
REVENUES        
Master lease rent $ 14,434 $ 13,879 $ 29,452 $ 27,938
Property operating 53,849 46,760 106,203 92,290
Straight-line rent 1,110 725 2,396 1,326
Mortgage interest 1,825 469 3,474 1,107
Other operating 2,054 2,102 4,358 4,272
Revenues 73,272 63,935 145,883 126,933
EXPENSES        
General and administrative 5,158 3,542 10,939 8,270
Property operating 28,477 24,237 56,572 48,435
Bad debt, net 93 (279) 272 (478)
Depreciation 19,120 16,450 38,015 32,654
Amortization 1,770 1,332 3,540 2,633
Expenses 54,618 45,282 109,338 91,514
OTHER INCOME (EXPENSE)        
Loss on extinguishment of debt     (1,986) (480)
Interest expense (17,344) (15,570) (39,618) (31,880)
Interest and other income, net 203 1,176 431 1,612
Other income (expense) (17,141) (14,394) (41,173) (30,748)
INCOME (LOSS) FROM CONTINUING OPERATIONS 1,513 4,259 (4,628) 4,671
DISCONTINUED OPERATIONS        
Income from discontinued operations 498 730 988 2,281
Impairment     (147)  
Gain on sales of real estate properties   1,525 36 4,221
INCOME FROM DISCONTINUED OPERATONS 498 2,255 877 6,502
NET INCOME (LOSS) 2,011 6,514 (3,751) 11,173
Noncontrolling interests share in net income   (40) (27) (105)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 2,011 $ 6,474 $ (3,778) $ 11,068
BASIC EARNINGS (LOSS) PER COMMON SHARE:        
Income (loss) from continuing operations $ 0.02 $ 0.07 $ (0.07) $ 0.08
Discontinued operations $ 0.01 $ 0.04 $ 0.02 $ 0.10
Net income (loss) attributable to common stockholders $ 0.03 $ 0.11 $ (0.05) $ 0.18
DILUTED EARNINGS (LOSS) PER COMMON SHARE:        
Income (loss) from continuing operations $ 0.02 $ 0.07 $ (0.07) $ 0.08
Discontinued operations $ 0.01 $ 0.03 $ 0.02 $ 0.10
Net income (loss) attributable to common stockholders $ 0.03 $ 0.10 $ (0.05) $ 0.18
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - BASIC 72,035,154 61,340,739 69,109,543 60,654,907
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - DILUTED 73,149,232 62,382,409 69,109,543 61,690,322
DIVIDENDS DECLARED, PER COMMON SHARE, DURING THE PERIOD $ 0.30 $ 0.30 $ 0.60 $ 0.60