XML 42 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
REVENUES:        
Rental property revenues $ 96,177 $ 80,034 $ 186,216 $ 157,518
Fee income 1,704 2,025 3,520 4,363
Other 22 2,446 143 4,347
Total consolidated revenues 97,903 84,505 189,879 166,228
COSTS AND EXPENSES:        
Rental property operating expenses 41,387 35,959 79,340 70,816
Reimbursed expenses 717 988 1,828 1,920
General and administrative expenses 5,936 5,756 9,431 11,366
Interest expense 7,869 6,970 15,546 14,137
Depreciation and amortization 34,879 35,135 71,026 69,274
Separation expenses 0 0 102 84
Acquisition and related costs 2 149 85 171
Other 341 877 698 1,370
Total costs and expenses 91,131 85,834 178,056 169,138
Income (loss) from continuing operations before taxes, unconsolidated joint ventures, and sale of investment properties 6,772 (1,329) 11,823 (2,910)
Benefit for income taxes from operations 0 9 0 21
Income from unconsolidated joint ventures 1,761 2,027 3,372 3,313
Income from continuing operations before gain on sale of investment properties 8,533 707 15,195 424
Gain (loss) on sale of investment properties (576) 1,327 530 1,488
Income from continuing operations 7,957 2,034 15,725 1,912
INCOME (LOSS) FROM DISCONTINUED OPERATIONS:        
Income (loss) from discontinued operations (6) 566 (19) 1,457
Gain (loss) on sale from discontinued operations 0 14 (551) 6,379
Total income from discontinued operations (6) 580 (570) 7,836
Net income 7,951 2,614 15,155 9,748
Net income attributable to noncontrolling interests 0 (129) 0 (284)
Net income attributable to controlling interests 7,951 2,485 15,155 9,464
Dividends to preferred stockholders 0 (1,178) 0 (2,955)
Preferred Share Original Issuance Costs 0 3,530 0 3,530
Net income (loss) available to common stockholders $ 7,951 $ (2,223) $ 15,155 $ 2,979
PER COMMON SHARE INFORMATION - BASIC AND DILUTED:        
Income (loss) from continuing operations attributable to controlling interest $ 0.04 $ (0.01) $ 0.07 $ (0.02)
Income from discontinued operations 0.00 0.00 0.00 0.04
Net income (loss) available to common stockholders $ 0.04 $ (0.01) $ 0.07 $ 0.02
Weighted average shares — basic 216,630 198,440 216,599 195,108
Weighted average shares — diluted 216,766 198,440 216,753 195,347
Dividends declared per common share $ 0.080 $ 0.075 $ 0.160 $ 0.150
Total Segment [Member]        
REVENUES:        
Total consolidated revenues $ 97,903      
COSTS AND EXPENSES:        
Reimbursed expenses 717 $ 988 $ 1,828 $ 1,920
Separation expenses     102 84
INCOME (LOSS) FROM DISCONTINUED OPERATIONS:        
Dividends to preferred stockholders   (4,708)   (6,485)
Net income (loss) available to common stockholders $ 7,951 $ (2,223) $ 15,155 $ 2,979