Organization, Basis of Presentation and Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2013

Organization, Basis of Presentation and Significant Accounting Policies

Schedule of earnings per common share

The Company’s earnings per common share are determined as follows (dollars in thousands, except per share data):

	For the three months ended						For the six months ended
	6-30-13			6-30-12			6-30-13			6-30-12
Basic and diluted shares outstanding
Weighted average common shares - basic	129,179,471			95,308,163			124,456,232			95,082,172
Weighted average DownREIT units outstanding	7,500			7,500			7,500			7,500
Effect of dilutive securities	408,428			677,162			415,931			730,531
Weighted average common shares - diluted	129,595,399			95,992,825			124,879,663			95,820,203
Calculation of Earnings per Share - basic
Net income attributable to common stockholders	$	36,218		$	156,909		$	111,648		$	214,667
Net income allocated to unvested restricted shares	(59		)	(547		)	(193		)	(845		)
Net income attributable to common stockholders, adjusted	$	36,159		$	156,362		$	111,455		$	213,822
Weighted average common shares - basic	129,179,471			95,308,163			124,456,232			95,082,172
Earnings per common share - basic	$	0.28		$	1.64		$	0.90		$	2.25
Calculation of Earnings per Share - diluted
Net income attributable to common stockholders	$	36,218		$	156,909		$	111,648		$	214,667
Add: noncontrolling interests of DownREIT unitholders in consolidated partnerships, including discontinued operations	8			7			16			13
Adjusted net income attributable to common stockholders	$	36,226		$	156,916		$	111,664		$	214,680
Weighted average common shares - diluted	129,595,399			95,992,825			124,879,663			95,820,203
Earnings per common share - diluted	$	0.28		$	1.63		$	0.89		$	2.24