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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Schedule of earnings per share
The conversions of downREIT operating partnership units and 5.417% Series 1 Cumulative Convertible Preferred Shares are anti-dilutive for all periods presented and accordingly, have been excluded from the weighted average common shares used to compute diluted EPS.

 
Year Ended December 31,
 
2014
 
2013
 
2012
 
(In thousands, except per share data)
NUMERATOR
 
 
 
 
 
Income from continuing operations
$
167,888

 
$
137,811

 
$
142,972

Less: Preferred share dividends
(541
)
 
(541
)
 
(541
)
Less: Income from continuing operations attributable to noncontrolling interests
(7,754
)
 
(4,927
)
 
(4,307
)
Less: Earnings allocated to unvested shares
(1,003
)
 
(889
)
 
(845
)
Income from continuing operations available for common shareholders
158,590

 
131,454

 
137,279

Results from discontinued operations attributable to the Trust
—

 
24,803

 
1,400

Gain on sale of real estate
4,401

 
4,994

 
11,860

Net income available for common shareholders, basic and diluted
$
162,991

 
$
161,251

 
$
150,539

DENOMINATOR
 
 
 
 
 
Weighted average common shares outstanding—basic
67,322

 
65,331

 
63,881

Effect of dilutive securities:
 
 
 
 
 
Stock options
170

 
152

 
175

Weighted average common shares outstanding—diluted
67,492

 
65,483

 
64,056

EARNINGS PER COMMON SHARE, BASIC
 
 
 
 
 
Continuing operations
$
2.35

 
$
2.01

 
$
2.15

Discontinued operations
—

 
0.38

 
0.02

Gain on sale of real estate
0.07

 
0.08

 
0.19

 
$
2.42

 
$
2.47

 
$
2.36

EARNINGS PER COMMON SHARE, DILUTED
 
 
 
 
 
Continuing operations
$
2.34

 
$
2.00

 
$
2.14

Discontinued operations
—

 
0.38

 
0.02

Gain on sale of real estate
0.07

 
0.08

 
0.19

 
$
2.41

 
$
2.46

 
$
2.35

Income from continuing operations attributable to the Trust
$
160,134

 
$
132,884

 
$
138,665