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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
Summarized quarterly financial data is as follows:
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(In thousands, except per share data)
2015
 
 
 
 
 
 
 
Revenue
$
184,792

 
$
181,461

 
$
185,252

 
$
192,507

Operating income
$
72,122

 
$
76,201

 
$
75,917

 
$
75,914

Net income(1)
$
48,203

 
$
45,673

 
$
54,550

 
$
69,998

Net income attributable to the Trust(1)
$
46,186

 
$
43,632

 
$
52,447

 
$
67,954

Net income available for common shareholders(1)
$
46,051

 
$
43,497

 
$
52,311

 
$
67,819

Earnings per common share—basic(1)
$
0.67

 
$
0.63

 
$
0.75

 
$
0.98

Earnings per common share—diluted(1)
$
0.67

 
$
0.63

 
$
0.75

 
$
0.97

 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(In thousands, except per share data)
2014
 
 
 
 
 
 
 
Revenue
$
170,828

 
$
167,947

 
$
170,938

 
$
176,377

Operating income
$
63,444

 
$
68,361

 
$
67,622

 
$
71,610

Net income(1)
$
40,545

 
$
45,416

 
$
49,049

 
$
37,279

Net income attributable to the Trust(1)
$
38,753

 
$
43,545

 
$
47,075

 
$
35,162

Net income available for common shareholders(1)
$
38,618

 
$
43,410

 
$
46,939

 
$
35,027

Earnings per common share—basic(1)
$
0.58

 
$
0.64

 
$
0.69

 
$
0.51

Earnings per common share—diluted(1)
$
0.57

 
$
0.64

 
$
0.69

 
$
0.51

 
(1)
Second and fourth quarter 2015 include an $11.5 million and $16.8 million gain on sale, respectively, from our Houston Street and Courtyard Shops properties as further discussed in Note 3. Third quarter 2014 includes a $4.4 million gain on sale reflecting our share of the Partnership's sale of Pleasant Shops as further discussed in Note 5.