XML 34 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Rental income $ 25,025 $ 24,539 $ 50,277 $ 49,015
Interest income from mortgage loans 4,139 1,050 8,232 2,109
Interest and other income 63 92 156 185
Total revenues 29,227 25,681 58,665 51,309
Expenses:        
Interest expense 3,088 2,798 6,275 5,931
Depreciation and amortization 6,302 6,124 12,600 12,250
General and administrative expenses 2,704 2,869 5,653 6,287
Total expenses 12,094 11,791 24,528 24,468
Operating income 17,133 13,890 34,137 26,841
Gain on sale of real estate, net 1,140   1,140  
Income from continuing operations 18,273 13,890 35,277 26,841
Discontinued operations:        
Income from discontinued operations   27   52
Loss on sale of real estate, net   (1,014)   (1,014)
Net loss from discontinued operations   (987)   (962)
Net income 18,273 12,903 35,277 25,879
Income allocated to participating securities (117) (91) (220) (189)
Income allocated to preferred stockholders (818) (818) (1,636) (1,636)
Net income available to common stockholders $ 17,338 $ 11,994 $ 33,421 $ 24,054
Basic earnings per common share        
Continuing operations (in dollars per share) $ 0.50 $ 0.39 $ 0.97 $ 0.79
Discontinued operations (in dollars per share)   $ (0.03)   $ (0.03)
Net income available to common stockholders $ 0.50 $ 0.36 $ 0.97 $ 0.76
Diluted earnings per common share        
Continuing operations (in dollars per share) $ 0.50 $ 0.39 $ 0.96 $ 0.79
Discontinued operations (in dollars per share)   $ (0.03)   $ (0.03)
Net income available to common stockholders $ 0.50 $ 0.36 $ 0.96 $ 0.76
Weighted average shares used to calculate earnings per common share        
Basic (in shares) 34,597 32,913 34,592 31,645
Diluted (in shares) 36,621 32,946 36,617 31,679
Dividends declared and paid per common share (in dollars per share) $ 0.510 $ 0.465 $ 1.020 $ 0.930