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Share-Based Compensation
9 Months Ended
Sep. 30, 2011
Share-based Compensation [Abstract] 
Share-Based Compensation
Share-Based Compensation
 
Share-based compensation expense was $252 and $371 for the three months ended September 30, 2011 and 2010, respectively, and $1,708 and $1,932 for the nine months ended September 30, 2011 and 2010, respectively. Share-based compensation cost capitalized as part of real estate assets was $52 and $37 for the three months ended September 30, 2011 and 2010, respectively, and $137 and $131 for the nine months ended September 30, 2011 and 2010, respectively.

The Company’s stock option activity for the nine months ended September 30, 2011 is summarized as follows: 
    
 
Shares
 
Weighted
Average
Exercise
Price
Outstanding at January 1, 2011
447,825

 
$
16.92

Cancelled
(6,600
)
 
$
18.27

Exercised
(134,500
)
 
$
13.91

Outstanding at
September 30, 2011
306,725

 
$
18.26

Vested and exercisable at September 30, 2011
306,725

 
$
18.26


 
 
A summary of the status of the Company’s stock awards as of September 30, 2011, and changes during the nine months ended September 30, 2011, is presented below: 
    
 
Shares
 
Weighted
 Average
Grant-Date
Fair Value
Nonvested at January 1, 2011
187,140

 
$
18.42

Granted
179,750

 
$
17.48

Vested
(71,880
)
 
$
25.59

Forfeited
(2,580
)
 
$
17.44

Nonvested at September 30, 2011
292,430

 
$
16.09



As of September 30, 2011, there was $3,190 of total unrecognized compensation cost related to nonvested stock awards granted under the plan, which is expected to be recognized over a weighted average period of 3.2 years.