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Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenues:      
Rental and other property $ 531,936 $ 465,713 $ 405,728
Management and other fees from affiliates 11,489 6,780 4,551
Total revenues 543,425 472,493 410,279
Expenses:      
Property operating, excluding real estate taxes 125,437 115,528 104,049
Real estate taxes 48,651 43,706 39,115
Depreciation 170,592 151,428 128,221
General and administrative 23,307 20,694 23,255
Cost of management and other fees 6,513 4,610 2,707
Impairment and other charges 0 0 2,302
Total expenses 374,500 335,966 299,649
Earnings from operations 168,925 136,527 110,630
Interest expense before amortization (100,244) (91,694) (82,756)
Amortization expense (11,644) (11,474) (4,828)
Interest and other income 13,833 17,139 27,841
Equity income (loss) from co-investments 41,745 (467) (1,715)
Gain on remeasurement of co-investment 21,947 0 0
Loss on early retirement of debt (5,009) (1,163) (10)
Income before discontinued operations 129,553 48,868 49,162
Income from discontinued operations 10,037 8,648 1,620
Net income 139,590 57,516 50,782
Net income attributable to noncontrolling interest (14,306) (10,446) (14,848)
Net income attributable to controlling interest 125,284 47,070 35,934
Dividends to preferred stockholders (5,472) (4,753) (2,170)
Excess of cash paid to redeem preferred stock and units over the carrying value 0 (1,949) 0
Net income available to common stockholders $ 119,812 $ 40,368 $ 33,764
Basic:      
Income before discontinued operations available to common stockholders (in dollars per share) $ 3.15 $ 0.99 $ 1.09
Income from discontinued operations available to common stockholders (in dollars per share) $ 0.27 $ 0.25 $ 0.05
Net income available to common stockholders (in dollars per share) $ 3.42 $ 1.24 $ 1.14
Weighted average number of shares outstanding during the year (in shares) 35,032,491 32,541,792 29,667,064
Diluted:      
Income before discontinued operations available to common stockholders (in dollars per share) $ 3.14 $ 0.99 $ 1.09
Income from discontinued operations available to common stockholders (in dollars per share) $ 0.27 $ 0.25 $ 0.05
Net income available to common stockholders (in dollars per share) $ 3.41 $ 1.24 $ 1.14
Weighted average number of shares outstanding during the year (in shares) 35,124,921 32,628,714 29,734,383