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Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenues:      
Rental and other property $ 468,778 $ 408,734 $ 404,556
Management and other fees from affiliates 6,780 4,551 4,325
Total revenues 475,558 413,285 408,881
Expenses:      
Property operating, excluding real estate taxes 116,583 105,054 102,126
Real estate taxes 44,002 39,411 36,578
Depreciation 152,228 129,011 117,296
General and administrative 25,304 25,962 28,062
Impairment and other charges 0 2,302 13,084
Total expenses 338,117 301,740 297,146
Earnings from operations 137,441 111,545 111,735
Interest expense before amortization (91,694) (82,756) (81,196)
Amortization expense (11,474) (4,828) (4,820)
Interest and other income 17,139 27,841 13,040
Equity (loss) income from co-investments (467) (1,715) 670
Gain (loss) on early retirement of debt (1,163) (10) 4,750
Gain on sale of real estate 0 0 103
Income before discontinued operations 49,782 50,077 44,282
Income from discontinued operations 7,734 705 9,457
Net income 57,516 50,782 53,739
Net income attributable to noncontrolling interest (10,446) (14,848) (16,631)
Net income attributable to controlling interest 47,070 35,934 37,108
Dividends to preferred stockholders (4,753) (2,170) (4,860)
Excess (deficit) of the carrying amount of preferred stock redeemed over the cash paid to redeem preferred stock (1,949) 0 49,952
Net income available to common stockholders $ 40,368 $ 33,764 $ 82,200
Basic:      
Income before discontinued operations available to common stockholders (in dollars per share) $ 1.02 $ 1.12 $ 2.69
Income from discontinued operations available to common stockholders (in dollars per share) $ 0.22 $ 0.02 $ 0.32
Net income available to common stockholders (in dollars per share) $ 1.24 $ 1.14 $ 3.01
Weighted average number of shares outstanding during the year (in shares) 32,541,792 29,667,064 27,269,547
Diluted:      
Income before discontinued operations available to common stockholders (in dollars per share) $ 1.02 $ 1.11 $ 2.59
Income from discontinued operations available to common stockholders (in dollars per share) $ 0.22 $ 0.03 $ 0.32
Net income available to common stockholders (in dollars per share) $ 1.24 $ 1.14 $ 2.91
Weighted average number of shares outstanding during the year (in shares) 32,628,714 29,734,383 29,746,614