Earnings Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share

8. Earnings Per Share

The components of the computation of basic and diluted EPS were as follows:

	Year Ended December 31,
	2011			2010			2009
(In thousands except share amounts)
Net increase in shareholders' equity resulting from operations	$	10,327		$	40,571		$	93,381
Net increase in shareholders' equity resulting from operations available to common share and LTIP holders:		10,327			40,571			93,381
Net increase in shareholders' equity resulting from operations—common shares		10,090			39,411			90,512
Net increase in shareholders' equity resulting from operations—LTIPs		237			1,160			2,869
Dividends Paid:
Common Shares		(41,414	)		(32,972	)		(29,879	)
LTIPs		(968	)		(934	)		(953	)
Total dividends paid to common share and LTIP holders		(42,382	)		(33,906	)		(30,832	)
Undistributed earnings:
Common Shares		(31,324	)		6,439			60,633
LTIPs		(731	)		226			1,916
Total undistributed earnings attributable to common share and LTIP holders	$	(32,055	)	$	6,665		$	62,549
Weighted average shares outstanding (basic and diluted):
Weighted average common shares outstanding		16,497,983			12,958,969			12,035,261
Weighted average participating LTIPs		385,973			381,339			381,466
Basic earnings per common share:
Distributed	$	2.51		$	2.54		$	2.48
Undistributed		(1.90	)		0.50			5.04
	$	0.61		$	3.04		$	7.52
Diluted earnings per common share:
Distributed	$	2.51		$	2.54		$	2.48
Undistributed		(1.90	)		0.50			5.04
	$	0.61		$	3.04		$	7.52

The Company pays quarterly dividends in arrears. Dividends paid in the table above relate to the respective period's prior period earnings.