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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share:

 
Year Ended December 31,
 
2011
 
2010
 
2009
Earnings per common share - basic:
 
 
 
 
 
Numerator:
 
 
 
 
 
Income from continuing operations
$
44,501

 
$
70,910

 
$
46,458

Net (income) attributable to noncontrolling  interests in the Operating Partnership from continuing operations
(1,918
)
 
(3,250
)
 
(2,339
)
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(755
)
 
(485
)
 
(11
)
Dividends on Preferred Stock
(4,553
)
 
(6,708
)
 
(6,708
)
Excess of Preferred Stock redemption/repurchase cost over carrying value
(1,895
)
 
—

 
—

Income from continuing operations available for common stockholders
35,380

 
60,467

 
37,400

Income from discontinued operations
3,470

 
1,393

 
15,236

Net (income) attributable to noncontrolling interests in the Operating Partnership from discontinued operations
(173
)
 
(70
)
 
(858
)
Income from discontinued operations available for common stockholders
3,297

 
1,323

 
14,378

Net income available for common stockholders
$
38,677

 
$
61,790

 
$
51,778

Denominator:
 
 
 
 
 
Denominator for basic earnings per Common Share – weighted average shares (1) (2)
72,281

 
71,578

 
67,971

Earnings per common share - basic:
 
 
 
 
 
Income from continuing operations available for common stockholders
$
0.49

 
$
0.84

 
$
0.55

Income from discontinued operations available for common stockholders
0.05

 
0.02

 
0.21

Net income available for common stockholders
$
0.54

 
$
0.86

 
$
0.76

Earnings per common share - diluted:
 
 
 
 
 
Numerator:
 
 
 
 
 
Income from continuing operations
$
44,501

 
$
70,910

 
$
46,458

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(755
)
 
(485
)
 
(11
)
Dividends on Preferred Stock
(4,553
)
 
(6,708
)
 
(6,708
)
Excess of Preferred Stock redemption/repurchase cost over carrying value
(1,895
)
 
—

 
—

Income from continuing operations available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
37,298

 
63,717

 
39,739

Income from discontinued operations available for common stockholders
3,470

 
1,393

 
15,236

Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$
40,768

 
$
65,110

 
$
54,975

Denominator:
 
 
 
 
 
Denominator for basic earnings per Common Share –weighted average shares (1) (2)
72,281

 
71,578

 
67,971

Add:
 
 
 
 
 
Stock options using the treasury method
136

 
198

 
79

Noncontrolling interests partnership units
3,772

 
3,802

 
4,029

Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions (1)
76,189

 
75,578

 
72,079

Earnings per common share - diluted:
 
 
 
 
 
Income from continuing operations available for common stockholders
$
0.49

 
$
0.84

 
$
0.55

Income from discontinued operations available for common stockholders
0.05

 
0.02

 
0.21

Net income available for common stockholders
$
0.54

 
$
0.86

 
$
0.76

__________

17.
Earnings Per Share - Continued

(1)
There were 0.4 million, 0.7 million and 1.0 million options outstanding during the years ended December 31, 2011, 2010 and 2009, respectively, that were not included in the computation of diluted earnings per share because the impact of including such options would be anti-dilutive.
(2)
Includes all unvested restricted stock since dividends on such restricted stock are non-forfeitable.