Earnings per Share and Unit (Tables)

9 Months Ended

Sep. 30, 2015

Parent Company [Member]

Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per share:

	Three months ended September 30,			Nine months ended September 30,
(in thousands, except per share data)	2015		2014	2015		2014
Numerator:
Income from operations	$	31,979	25,882	$	94,789	80,061
Gain on sale of real estate	27,755		27,558	34,215		29,598
Less: income attributable to noncontrolling interests	737		232	1,823		1,048
Income from operations attributable to the Company	58,997		53,208	127,181		108,611
Less: preferred stock dividends and other	5,266		5,415	15,797		16,245
Income from operations attributable to common stockholders - basic	$	53,731	47,793	111,384		92,366
Income from operations attributable to common stockholders - diluted	$	53,731	47,817	111,384		92,416
Denominator:
Weighted average common shares outstanding for basic EPS	94,158		92,345	94,080		92,071
Weighted average common shares outstanding for diluted EPS	94,595		92,396	94,483		92,107
Income per common share – basic	$	0.57	0.52	$	1.18	1.00
Income per common share – diluted	$	0.57	0.52	$	1.18	1.00

Partnership Interest [Member]

Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per unit:

	Three months ended September 30,			Nine months ended September 30,
(in thousands, except per share data)	2015		2014	2015		2014
Numerator:
Income from operations	$	31,979	25,882	$	94,789	80,061
Gain on sale of real estate	27,755		27,558	34,215		29,598
Less: income attributable to noncontrolling interests	643		142	1,619		863
Income from operations attributable to the Partnership	59,091		53,298	127,385		108,796
Less: preferred unit distributions and other	5,266		5,415	15,797		16,245
Income from operations attributable to common unit holders - basic	53,825		47,883	111,588		92,551
Income from operations attributable to common unit holders - diluted	53,825		47,907	111,588		92,601
Denominator:
Weighted average common units outstanding for basic EPU	94,312		92,505	94,234		92,231
Weighted average common units outstanding for diluted EPU	94,749		92,556	94,637		92,267
Income per common unit – basic	$	0.57	0.52	$	1.18	1.00
Income per common unit – diluted	$	0.57	0.52	$	1.18	1.00