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

9 Months Ended

Sep. 30, 2011

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
	9-30-11			9-30-10			9-30-11			9-30-10
Basic and diluted shares outstanding
Weighted average common shares - basic		91,388,357			84,968,804			88,312,930			83,385,833
Weighted average DownREIT units outstanding		7,707			15,346			8,559			15,349
Effect of dilutive securities		944,304			784,546			878,009			728,712
Weighted average common shares - diluted		92,340,368			85,768,696			89,199,498			84,129,894
Calculation of Earnings per Share - basic
Net income attributable to common stockholders	$	44,824		$	24,654		$	118,537		$	148,304
Net income allocated to unvested restricted shares		(206	)		(68	)		(406	)		(429	)
Net income attributable to common stockholders, adjusted	$	44,618		$	24,586		$	118,131		$	147,875
Weighted average common shares - basic		91,388,357			84,968,804			88,312,930			83,385,833
Earnings per common share - basic	$	0.49		$	0.29		$	1.34		$	1.77
Calculation of Earnings per Share - diluted
Net income attributable to common stockholders	$	44,824		$	24,654		$	118,537		$	148,304
Add: noncontrolling interests of DownREIT unitholders in consolidated partnerships, including discontinued operations		7			14			20			41
Adjusted net income attributable to common stockholders	$	44,831		$	24,668		$	118,557		$	148,345
Weighted average common shares - diluted		92,340,368			85,768,696			89,199,498			84,129,894
Earnings per common share - diluted	$	0.49		$	0.29		$	1.33		$	1.76