Stockholders' Equity of the Company

3 Months Ended

Mar. 31, 2013

Equity [Abstract]

Stockholders' Equity of the Company

Stockholders' Equity of the Company

At-The-Market Stock Offering Program

Under our at-the-market stock offering program, which commenced in July 2011, we may offer and sell shares of our common stock having an aggregate gross sales price of up to $200.0 million from time to time in "at the market" offerings. During the three months ended March 31, 2013, we sold 453,679 shares of common stock under this program at a weighted average price of $52.65 per share, before selling commissions, for aggregate gross proceeds of approximately $23.9 million and net proceeds of approximately $23.4 million, after sales agent compensation. The proceeds from the sales were used to fund development and redevelopment expenditures and general corporate purposes. Since commencement of the program, we have sold 1,596,102 shares of common stock and, as of March 31, 2013, approximately $126.1 million remains available to be sold under this program. Actual future sales will depend upon a variety of factors including but not limited to market conditions, the trading price of the Company's common stock and our capital needs. We have no obligation to sell the remaining shares available for sale under this program.