Earnings per Share and Unit (Tables)

3 Months Ended

Mar. 31, 2014

Parent Company [Member]

Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per share for the periods ended March 31, 2014 and 2013, respectively (in thousands except per share data):

		Three months ended March 31,
		2014	2013
Numerator:
Continuing Operations
Income from continuing operations	$	24,341	18,511
Gain on sale of real estate		715	—
Less: income (loss) attributable to noncontrolling interests		401	309
Income from continuing operations attributable to the Company		24,655	18,202
Less: preferred stock dividends		5,266	5,266
Less: dividends paid on unvested restricted stock		197	216
Income from continuing operations attributable to common stockholders - basic		19,192	12,720
Add: dividends paid on Treasury Method restricted stock		11	28
Income from continuing operations attributable to common stockholders - diluted		19,203	12,748
Discontinued Operations
Income from discontinued operations		—	2,623
Less: income from discontinued operations attributable to noncontrolling interests		—	5
Income from discontinued operations attributable to the Company		—	2,618
Net Income
Net income attributable to common stockholders - basic		19,192	15,338
Net income attributable to common stockholders - diluted	$	19,203	15,366
Denominator:
Weighted average common shares outstanding for basic EPS		92,167	90,290
Incremental shares to be issued under unvested restricted stock		24	61
Weighted average common shares outstanding for diluted EPS		92,191	90,351
Income per common share – basic
Continuing operations	$	0.21	0.14
Discontinued operations		—	0.03
Net income attributable to common stockholders	$	0.21	0.17
Income per common share – diluted
Continuing operations	$	0.21	0.14
Discontinued operations		—	0.03
Net income attributable to common stockholders	$	0.21	0.17

Partnership Interest [Member]

Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per unit for the periods ended March 31, 2014 and 2013, respectively (in thousands except per unit data):

		Three months ended March 31,
		2014	2013
Numerator:
Continuing Operations
Income from continuing operations	$	24,341	18,511
Gain on sale of real estate		715	—
Less: income attributable to noncontrolling interests		359	270
Income from continuing operations attributable to the Partnership		24,697	18,241
Less: preferred unit distributions		5,266	5,266
Less: dividends paid on unvested restricted units		197	216
Income from continuing operations attributable to common unit holders - basic		19,234	12,759
Add: dividends paid on Treasury Method restricted units		11	28
Income from continuing operations attributable to common unit holders - diluted		19,245	12,787
Discontinued Operations
Income from discontinued operations		—	2,623
Less: income from discontinued operations attributable to noncontrolling interests		—	5
Income from discontinued operations attributable to the Partnership		—	2,618
Net Income
Net income attributable to common unit holders - basic		19,234	15,377
Net income attributable to common unit holders - diluted	$	19,245	15,405
Denominator:
Weighted average common units outstanding for basic EPU		92,168	90,289
Incremental units to be issued under unvested restricted stock		24	60
Weighted average common units outstanding for diluted EPU		92,192	90,349
Income per common unit – basic
Continuing operations	$	0.21	0.14
Discontinued operations		—	0.03
Net income attributable to common unit holders	$	0.21	0.17
Income per common unit – diluted
Continuing operations	$	0.21	0.14
Discontinued operations		—	0.03
Net income attributable to common unit holders	$	0.21	0.17