Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2014

Accounting Policies [Abstract]

Reconciliation of Earnings Attributable to Common Shares Outstanding for the Basic and Diluted EPS

The reconciliation of earnings attributable to Common Shares outstanding for the basic and diluted earnings per share calculation is as follows (in thousands, except per share data):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
Basic
Income (loss) from continuing operations	$	210		$	1,050		$	(4,972	)	$	10,648
Loss attributable to non-controlling interest		1,980			653			3,369			1,473
Preferred dividend of Series D Preferred Shares		(2,786	)		(2,786	)		(5,573	)		(5,573	)
Amount allocated to Restricted Shares		(97	)		(98	)		(192	)		(124	)
Income (loss) from continuing operations applicable to Common Shares		(693	)		(1,181	)		(7,368	)		6,424
Income from discontinued operations		6,772			6,695			11,151			10,048
(Income) loss attributable to non-controlling interests from discontinued operations		—			(24	)		54			(49	)
Net income applicable to Common Shares for earnings per share purposes	$	6,079		$	5,490		$	3,837		$	16,423
Basic weighted-average Common Shares		35,824			33,037			35,820			33,032
Income (loss) from continuing operations	$	(0.02	)	$	(0.03	)	$	(0.20	)	$	0.20
Income from discontinued operations		0.19			0.20			0.31			0.30
Net income per Common Share - Basic	$	0.17		$	0.17		$	0.11		$	0.50
Diluted
Income (loss) from continuing operations	$	210		$	1,050		$	(4,972	)	$	10,648
Loss attributable to non-controlling interest		1,980			653			3,369			1,473
Preferred dividend of Series D Preferred Shares		(2,786	)		(2,786	)		(5,573	)		(5,573	)
Amount allocated to Restricted Shares		(97	)		(98	)		(192	)		(124	)
Income (loss) from continuing operations applicable to Common Shares		(693	)		(1,181	)		(7,368	)		6,424
Income from discontinued operations		6,772			6,695			11,151			10,048
(Income) loss attributable to non-controlling interests from discontinued operations		—			(24	)		54			(49	)
Net income applicable to Common Shares for earnings per share purposes	$	6,079		$	5,490		$	3,837		$	16,423
Basic weighted-average Common Shares		35,824			33,037			35,820			33,032
Stock options (1)		—			—			—			2
Restricted shares (2)		—			—			—			7
Diluted weighted-average Common Shares		35,824			33,037			35,820			33,041
Income (loss) from continuing operations	$	(0.02	)	$	(0.03	)	$	(0.20	)	$	0.20
Income from discontinued operations		0.19			0.20			0.31			0.30
Net income per Common Share - Diluted	$	0.17		$	0.17		$	0.11		$	0.50

(1) The Trust’s stock options were exercised in 2013. The resulting shares were included in the basic weighted-average shares outstanding for the three and six months ended June 30, 2014. The Trust’s outstanding stock options were anti-dilutive for the three months ended June 30, 2013 and are not included in the weighted-average shares outstanding for the calculation of diluted earnings per Common Share. The Trust’s outstanding stock options were dilutive for the six months ended June 30, 2013.

(2) The Trust’s Restricted Shares were anti-dilutive for the three months ended June 30, 2013 and the three and six months ended June 30, 2014 and are not included in the weighted-average shares outstanding for the calculation of diluted earnings per Common Share. The Trust’s Restricted Shares were dilutive for the six months ended June 30, 2013.