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Net Income Available to Common Stockholders Per Share of the Company
 3 Months Ended
Mar. 31, 2012
Earnings Per Share [Abstract]  
Net Income Available to Common Stockholders Per Share of the Company
Net Income Available to Common Stockholders Per Share of the Company
The following table reconciles the numerator and denominator in computing the Company's basic and diluted per-share computations for net income available to common stockholders for the three months ended March 31, 2012 and 2011:
 
Three Months Ended March 31,
 
 
2012
 
2011
 
 
(in thousands, except share and
per share amounts)
 
Numerator:
 
 
 
 
Income from continuing operations
$
4,962

 
$
1,844

 
Loss from continuing operations attributable to noncontrolling common units of the Operating Partnership
114

 
61

 
Preferred distributions and dividends
(9,336
)
 
(3,799
)
 
Allocation to participating securities (nonvested shares and time-based RSUs)
(380
)
 
(322
)
 
Numerator for basic and diluted loss from continuing operations available to common stockholders
(4,640
)
 
(2,216
)
 
Income from discontinued operations
73,709

 
3,023

 
Income from discontinued operations attributable to noncontrolling common units of the Operating Partnership
(1,909
)
 
(95
)
 
Numerator for basic and diluted net income available to common stockholders
$
67,160

 
$
712

 
Denominator:
 
 
 
 
Basic weighted average vested shares outstanding
63,648,704

 
52,302,075

 
Effect of dilutive securities - contingently issuable shares and stock options(1)
—

 
—

 
Diluted weighted average vested shares and common share equivalents outstanding
63,648,704

 
52,302,075

 
Basic earnings per share:
 
 
 
 
Loss from continuing operations available to common stockholders per share
$
(0.07
)
 
$
(0.04
)
 
Income from discontinued operations per common share
1.13

 
0.05

 
Net income available to common stockholders per share
$
1.06

 
$
0.01

 
Diluted earnings per share:
 
 
 
 
Loss from continuing operations available to common stockholders per share
$
(0.07
)
 
$
(0.04
)
 
Income from discontinued operations per common share
1.13

 
0.05

 
Net income available to common stockholders per share
$
1.06

 
$
0.01

 
______________________
(1)
Dilutive securities were not included in the current period presentation of the 2011 weighted average shares outstanding because we reported a net loss from continuing operations attributable to common stockholders for the three months ended March 31, 2011 resulting from the reclassification of the revenues and expenses of operating properties that were sold during 2011 and 2012.
The impact of the 1,550,000 stock options and contingently issuable shares, which consist of the 103,238 market measure-based RSUs and the Exchangeable Notes, was not considered in our diluted earnings per share calculation for the three months ended March 31, 2012 since we reported a loss from continuing operations attributable to common stockholders in the respective period and the effect was anti-dilutive. The impact of stock options and the Exchangeable Notes were not considered in our diluted earnings per share calculation for the three months ended March 31, 2011 since we reported a loss from continuing operations attributable to common stockholders and the effect was anti-dilutive. See Note 5 for additional information regarding the Exchangeable Notes and Note 10 for additional information regarding the outstanding stock options and market measure-based RSUs.