Common Shares

9 Months Ended

Sep. 30, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

4. Common Shares

In May 2012, we created an at the market ("ATM") share offering program through which we can, but have no obligation to, sell common shares having an aggregate offering price of up to $300 million(the "2012 ATM program"), in amounts and at times as we determine, into the existing trading market at current market prices as well as through negotiated transactions. Actual sales from time to time may depend on a variety of factors including, among others, market conditions, the trading price of our common shares, and determinations by management of the appropriate sources of funding for us. The net proceeds for the three and nine months ended September 30, 2014 were used for general corporate purposes, which included repayment of outstanding balances on our unsecured line of credit and short-term borrowings, and funding for development, redevelopment, and capital improvement activities.

The following table presents activity under our 2012 ATM program for the three and nine months ended September 30, 2014 and 2013.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands, except per share amounts)	2014		2013		2014		2013
Total net consideration	$	50,535.3	$	—	$	50,535.3	$	40,097.6
Common shares sold	688.3		—		688.3		555.1
Average price per share	$	74.60	$	—	$	74.60	$	73.73

As of the date of this filing, we had common shares having an aggregate offering price of up to $31.3 million remaining available for sale under the 2012 ATM program.No additional shares were sold subsequent to September 30, 2014 through the date of this filing.

We currently have an automatic shelf registration statement which allows us to offer, from time to time, common shares, preferred shares, debt securities, or warrants. Our Amended and Restated Declaration of Trust provides we may issue up to 185 million shares of beneficial interest, consisting of 175 million common shares and 10 million preferred shares. At September 30, 2014, we had approximately 86.4 million common shares outstanding, net of treasury shares and shares held in our deferred compensation arrangements, and no preferred shares outstanding.