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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Rental income $ 911,948 $ 782,463 $ 764,461
Expenses:      
Operating expenses 392,131 333,049 324,050
Depreciation and amortization 218,688 207,205 178,034
General and administrative 46,758 39,737 36,603
Loss on asset impairment 10,355 127,740 15,179
Acquisition related costs 10,073 21,553 4,082
Total expenses 678,005 729,284 557,948
Operating income 233,943 53,179 206,513
Interest and other income 1,718 2,999 1,195
Interest expense (including net amortization of debt discounts, premiums and deferred financing fees of $6,943, $7,150 and $6,124, respectively) (195,024) (179,642) (166,855)
(Loss) gain on early extinguishment of debt (35) (796) 20,686
Equity in earnings of investees 11,377 8,464 6,546
Gain on issuance of shares by an equity investee 11,177 34,808  
Gain on asset acquisition   20,392  
Income (loss) from continuing operations before income tax expense 63,156 (60,596) 68,085
Income tax expense (1,347) (550) (735)
Income (loss) from continuing operations 61,809 (61,146) 67,350
Discontinued operations:      
Income from discontinued operations 5,423 26,223 34,894
Loss on asset impairment from discontinued operations   (1,524) (16,703)
Loss on early extinguishment of debt from discontinued operations   (248)  
Net gain on sale of properties from discontinued operations 42,752 137,768 79,133
Income before gain on sale of properties 109,984 101,073 164,674
Gain on sale of properties   34,336  
Net income 109,984 135,409 164,674
Preferred distributions (46,985) (47,733) (50,668)
Excess redemption price paid over carrying value of preferred shares   (5,921)  
Net income available for common shareholders $ 62,999 $ 81,755 $ 114,006
Weighted average common shares outstanding - basic (in shares) 77,428 64,703 56,055
Weighted average common shares outstanding - diluted (in shares) 84,726 72,001 63,353
Basic and diluted earnings per common share:      
Income (loss) from continuing operations available for common shareholders (in dollars per share) $ 0.19 $ (1.24) $ 0.30
Income from discontinued operations (in dollars per share) $ 0.62 $ 2.51 $ 1.74
Net income available for common shareholders (in dollars per share) $ 0.81 $ 1.26 $ 2.03