XML 49 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
REVENUES:        
Rental property revenues $ 86,857 $ 47,575 $ 244,375 $ 117,799
Fee income 1,802 2,420 6,165 8,932
Other 439 439 4,786 4,488
Total consolidated revenues 89,098 50,434 255,326 131,219
COSTS AND EXPENSES:        
Rental property operating expenses 38,685 22,035 109,501 55,112
Reimbursed expenses 783 1,097 2,703 4,365
General and administrative expenses 5,021 6,635 16,388 17,257
Interest expense 6,817 5,149 20,954 14,325
Depreciation and amortization 32,704 18,511 101,979 44,686
Separation expenses 0 520 84 520
Acquisition and related costs 644 6,859 815 7,427
Other 481 1,072 1,852 3,258
Total costs and expenses 85,135 61,878 254,276 146,950
Income (loss) from continuing operations before taxes, unconsolidated joint ventures, and sale of investment properties 3,963 (11,444) 1,050 (15,731)
Benefit (provision) for income taxes from operations (1) (1) 20 (3)
Income from unconsolidated joint ventures 2,030 63,078 5,343 65,862
Income from continuing operations before gain on sale of investment properties 5,992 51,633 6,413 50,128
Gain on sale of investment properties 81 3,801 1,569 61,361
Income from continuing operations 6,073 55,434 7,982 111,489
INCOME (LOSS) FROM DISCONTINUED OPERATIONS:        
Income from discontinued operations 348 1,257 1,806 2,724
Gain on sale from discontinued operations 12,993 8,346 19,372 8,550
Total income from discontinued operations 13,341 9,603 21,178 11,274
Net income 19,414 65,037 29,160 122,763
Net income attributable to noncontrolling interests (92) (3,879) (376) (4,901)
Net income attributable to controlling interests 19,322 61,158 28,784 117,862
Dividends to preferred stockholders 0 (1,777) (2,955) (8,231)
Preferred share original issuance costs 0 0 (3,530) (2,656)
Net income available to common stockholders $ 19,322 $ 59,381 $ 22,299 $ 106,975
PER COMMON SHARE INFORMATION - BASIC AND DILUTED:        
Income from continuing operations attributable to controlling interest $ 0.03 $ 0.30 $ 0.00 $ 0.74
Income from discontinued operations $ 0.06 $ 0.06 $ 0.11 $ 0.09
Net income available to common stockholders $ 0.09 $ 0.36 $ 0.11 $ 0.83
Weighted average shares — basic 209,839 163,426 200,073 128,953
Weighted average shares — diluted 210,111 163,603 200,325 129,121
Dividends declared per common share $ 0.075 $ 0.045 $ 0.225 $ 0.135