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Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Components of Earnings Per Share - Basic and Diluted
Earnings per common share – basic and diluted components for the periods indicated are as follows (in thousands):
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2012
 
2011
 
2012
 
2011
Numerator:
 
 
 
 
 
 
 
Continuing Operations:
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
24,250

 
$
(24,664
)
 
$
37,100

 
$
(19,807
)
Gain on sale of property
335

 
392

 
859

 
1,588

Net (income) loss attributable to noncontrolling interests
(1,774
)
 
2,738

 
(4,557
)
 
410

Preferred share dividends
(8,869
)
 
(8,869
)
 
(26,607
)
 
(26,607
)
Income (loss) from continuing operations attributable to
common shareholders – basic and diluted
$
13,942

 
$
(30,403
)

$
6,795


$
(44,416
)
Discontinued Operations:
 
 
 
 
 
 
 
Income (loss) from discontinued operations attributable to
common shareholders – basic and diluted
$
17,462

 
$
(11,686
)
 
$
59,487

 
$
2,388

Denominator:
 
 
 
 
 
 
 
Weighted average shares outstanding – basic
120,766

 
120,413

 
120,637

 
120,301

Effect of dilutive securities:
 
 
 
 
 
 
 
Share options and awards
1,078

 
—

 
1,016

 
—

Weighted average shares outstanding – diluted
121,844

 
120,413

 
121,653

 
120,301
Anti-Dilutive Securities
Anti-dilutive securities, which are excluded from the calculation of earnings per common share – diluted, are as follows (in thousands):

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2012
 
2011
 
2012
 
2011
Share options (1)
2,359

 
3,163

 
2,359

 
2,846

Operating partnership units
1,582

 
1,607

 
1,583

 
1,626

Share options and awards
—

 
894

 
—

 
940

Total anti-dilutive securities
3,941

 
5,664

 
3,942

 
5,412

_______________
(1)
Exclusion results as exercise prices were greater than the average market price for each respective period.