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Earnings Per Share
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The components of the computation of basic and diluted EPS were as follows:
 
Three Month Period Ended
June 30,
 
Six Month Period Ended
June 30,
 
2013
 
2012
 
2013
 
2012
(In thousands except share amounts)
 
 
 
 
 
 
 
Net increase in equity resulting from operations
$
11,705

 
$
10,768

 
$
52,451

 
$
42,823

Less: Net increase in equity resulting from operations attributable to the non-controlling interest
105

 
—

 
516

 
—

Net increase in shareholders' equity resulting from operations
11,600

 
10,768

 
51,935

 
42,823

Net increase in shareholders' equity resulting from operations available to common share and LTIP unit holders:
 
 
 
 
 
 
 
Net increase in shareholders' equity resulting from operations - common shares
11,404

 
10,518

 
51,003

 
41,830

Net increase in shareholders' equity resulting from operations - LTIP units
196

 
250

 
932

 
993

Dividends Paid(1):
 
 
 
 
 
 
 
Common shareholders
(19,567
)
 
(11,513
)
 
(50,581
)
 
(18,092
)
LTIP unit holders
(306
)
 
(274
)
 
(910
)
 
(430
)
Non-controlling interest
(163
)
 
—

 
(485
)
 
—

Total dividends paid to common shareholders, LTIP unit holders, and non-controlling interest
(20,036
)
 
(11,787
)
 
(51,976
)
 
(18,522
)
Undistributed earnings:
 
 
 
 
 
 
 
Common shareholders
(8,163
)
 
(995
)
 
422

 
23,738

LTIP unit holders
(110
)
 
(24
)
 
22

 
563

Non-controlling interest
(58
)
 
—

 
31

 
—

Total undistributed earnings attributable to common shareholders, LTIP unit holders, and non-controlling interest
$
(8,331
)
 
$
(1,019
)
 
$
475

 
$
24,301

Weighted average shares outstanding (basic and diluted):
 
 
 
 
 
 
 
Weighted average common shares outstanding
23,046,550

 
16,447,651

 
21,724,721

 
16,447,651

Weighted average participating LTIP units
397,096

 
390,500

 
397,096

 
390,500

Weighted average non-controlling interest units
212,000

 
—

 
212,000

 
—

Basic earnings per common share:
 
 
 
 
 
 
 
Distributed
$
0.77

 
$
0.70

 
$
2.29

 
$
1.10

Undistributed
(0.28
)
 
(0.06
)
 
0.06

 
1.44

 
$
0.49

 
$
0.64

 
$
2.35

 
$
2.54

Diluted earnings per common share:
 
 
 
 
 
 
 
Distributed
$
0.77

 
$
0.70

 
$
2.29

 
$
1.10

Undistributed
(0.28
)
 
(0.06
)
 
0.06

 
1.44

 
$
0.49

 
$
0.64

 
$
2.35

 
$
2.54

(1)
The Company pays quarterly dividends in arrears, so a portion of the dividends paid in each calendar year relate to the prior year's earnings.