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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues:        
Rental and other property $ 135,070 $ 117,226 $ 390,308 $ 343,340
Management and other fees 3,072 1,940 8,312 4,585
Total revenues 138,142 119,166 398,620 347,925
Expenses:        
Property operating, excluding real estate taxes 32,951 29,642 92,421 86,426
Real estate taxes 12,358 11,208 35,470 32,619
Depreciation 43,041 37,881 125,575 111,786
General and administrative 5,276 4,966 16,440 15,626
Cost of management and other fees 1,642 1,164 4,893 3,161
Total expenses 95,268 84,861 274,799 249,618
Earnings from operations 42,874 34,305 123,821 98,307
Interest expense before amortization (25,064) (22,096) (74,380) (66,612)
Amortization expense (2,927) (2,936) (8,681) (8,527)
Interest and other income 3,003 2,741 10,869 12,357
Equity income (loss) in co-investments 3,547 317 8,998 (330)
Gain on remeasurement of co investment 0 0 21,947 0
Loss on early retirement of debt (1,211) (567) (2,661) (820)
Income from continuing operations 20,222 11,764 79,913 34,375
Income from discontinued operations 0 (679) 10,037 5,273
Net income 20,222 11,085 89,950 39,648
Net income attributable to noncontrolling interest (2,635) (2,031) (9,827) (7,882)
Net income attributable to controlling interest 17,587 9,054 80,123 31,766
Dividends to preferred stockholders (1,368) (1,367) (4,104) (3,385)
Excess of cash paid to redeem preferred stock and units over the carrying value 0 0 0 (1,949)
Net income available to common stockholders 16,219 7,687 76,019 26,432
Comprehensive income 16,462 10,742 86,034 41,765
Comprehensive income attributable to noncontrolling interest (2,407) (2,007) (9,589) (8,019)
Comprehensive income attributable to controlling interest $ 14,055 $ 8,735 $ 76,445 $ 33,746
Basic:        
Income from continuing operations (in dollars per share) $ 0.46 $ 0.25 $ 1.92 $ 0.67
Income from discontinued operations (in dollars per share) $ 0 $ (0.02) $ 0.27 $ 0.15
Net income available to common stockholders (in dollars per share) $ 0.46 $ 0.23 $ 2.19 $ 0.82
Weighted average number of shares outstanding during the period (in shares) 35,600,772 33,121,728 34,736,311 32,215,549
Diluted:        
Income from continuing operations (in dollars per share) $ 0.45 $ 0.25 $ 1.91 $ 0.67
Income from discontinued operations (in dollars per share) $ 0 $ (0.02) $ 0.27 $ 0.15
Net income available to common stockholders (in dollars per share) $ 0.45 $ 0.23 $ 2.18 $ 0.82
Weighted average number of shares outstanding during the period (in shares) 35,699,666 33,209,289 34,834,076 32,304,686
Dividends per common share (in dollars per share) $ 1.10 $ 1.04 $ 3.30 $ 3.12