Organization, Basis of Presentation and Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2013

Organization, Basis of Presentation and Significant Accounting Policies

Schedule of earnings per common share

The Company’s earnings per common share are determined as follows (dollars in thousands, except per share data):

	For the three months ended						For the nine months ended
	9-30-13			9-30-12			9-30-13			9-30-12
Basic and diluted shares outstanding
Weighted average common shares - basic	129,208,839			97,044,603			126,057,793			95,742,676
Weighted average DownREIT units outstanding	7,500			7,500			7,500			7,500
Effect of dilutive securities (1)	—			494,466			411,821			651,382
Weighted average common shares - diluted	129,216,339			97,546,569			126,477,114			96,401,558
Calculation of Earnings per Share - basic
Net (loss) income attributable to common stockholders	$	(10,715	)	$	86,844		$	100,929		$	301,512
Net loss (income) allocated to unvested restricted shares	16			(186		)	(166		)	(1,003		)
Net (loss) income attributable to common stockholders, adjusted	$	(10,699	)	$	86,658		$	100,763		$	300,509
Weighted average common shares - basic	129,208,839			97,044,603			126,057,793			95,742,676
(Loss) earnings per common share - basic	$	(0.08	)	$	0.89		$	0.80		$	3.14
Calculation of Earnings per Share - diluted
Net (loss) income attributable to common stockholders	$	(10,715	)	$	86,844		$	100,929		$	301,512
Add: noncontrolling interests of DownREIT unitholders in consolidated partnerships, including discontinued operations	8			7			24			21
Adjusted net (loss) income attributable to common stockholders	$	(10,707	)	$	86,851		$	100,953		$	301,533
Weighted average common shares - diluted	129,216,339			97,546,569			126,477,114			96,401,558
(Loss) earnings per common share - diluted	$	(0.08	)	$	0.89		$	0.80		$	3.13

(1) Securities considered antidilutive for the three months ended September 30, 2013 due to recognition of net loss.