Earnings per Share and Unit (Tables)

3 Months Ended

Mar. 31, 2015

Parent Company [Member]

Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per share (in thousands, except per share data):

	Three months ended March 31,
	2015		2014
Numerator:
Income from operations	$	30,189	24,341
Gain on sale of real estate	803		715
Less: income attributable to noncontrolling interests	552		401
Income from operations attributable to the Company	30,440		24,655
Less: preferred stock dividends	5,266		5,266
Less: dividends paid on unvested restricted stock	176		197
Income from operations attributable to common stockholders - basic	$	24,998	19,192
Add: dividends paid on Treasury Method restricted stock	28		11
Income from operations attributable to common stockholders - diluted	$	25,026	19,203
Denominator:
Weighted average common shares outstanding for basic EPS	93,842		92,167
Incremental shares to be issued under unvested restricted stock	58		24
Incremental shares to be issued under Forward Equity Offering	7		—
Weighted average common shares outstanding for diluted EPS	93,907		92,191
Income per common share – basic	$	0.27	0.21
Income per common share – diluted	$	0.27	0.21

Partnership Interest [Member]

Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per unit (in thousands except per unit data):

	Three months ended March 31,
	2015		2014
Numerator:
Income from operations	$	30,189	24,341
Gain on sale of real estate	803		715
Less: income attributable to noncontrolling interests	503		359
Income from operations attributable to the Partnership	30,489		24,697
Less: preferred unit distributions	5,266		5,266
Less: dividends paid on unvested restricted units	176		197
Income from operations attributable to common unit holders - basic	25,047		19,234
Add: dividends paid on Treasury Method restricted units	28		11
Income from operations attributable to common unit holders - diluted	25,075		19,245
Denominator:
Weighted average common units outstanding for basic EPU	93,996		92,167
Incremental units to be issued under unvested restricted stock	58		24
Incremental shares to be issued under Forward Equity Offering	7		—
Weighted average common units outstanding for diluted EPU	94,061		92,191
Income per common unit – basic	$	0.27	0.21
Income per common unit – diluted	$	0.27	0.21