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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, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenues:        
Rental and other property $ 152,945 $ 134,518 $ 448,318 $ 388,642
Management and other fees 2,957 3,072 9,139 8,312
Total revenues 155,902 137,590 457,457 396,954
Expenses:        
Property operating, excluding real estate taxes 36,002 32,763 102,790 91,828
Real estate taxes 14,561 12,310 42,852 35,326
Depreciation 48,438 42,897 143,320 125,137
General and administrative 6,075 5,276 18,925 16,440
Cost of management and other fees 1,613 1,642 5,047 4,893
Total expenses 106,689 94,888 312,934 273,624
Earnings from operations 49,213 42,702 144,523 123,330
Interest expense before amortization (26,187) (25,064) (77,724) (74,380)
Amortization expense (3,005) (2,927) (8,937) (8,681)
Interest and other income 2,387 3,003 9,326 10,869
Equity income in co-investments 40,802 3,547 52,295 8,998
(Loss) gain on early retirement of debt (178) (1,211) 846 (2,661)
Gain on sale of land 0 0 1,503 0
Gain on remeasurement of co-investment 0 0 0 21,947
Income from continuing operations 63,032 20,050 121,832 79,422
Income from discontinued operations 12,843 172 13,321 10,528
Net income 75,875 20,222 135,153 89,950
Net income attributable to noncontrolling interest (5,719) (2,635) (12,112) (9,827)
Net income attributable to controlling interest 70,156 17,587 123,041 80,123
Dividends to preferred stockholders (1,368) (1,368) (4,104) (4,104)
Net income available to common stockholders 68,788 16,219 118,937 76,019
Comprehensive income 76,112 16,462 142,206 86,034
Comprehensive income attributable to noncontrolling interest (5,732) (2,407) (12,493) (9,589)
Comprehensive income attributable to controlling interest $ 70,380 $ 14,055 $ 129,713 $ 76,445
Basic:        
Income from continuing operations (in dollars per share) $ 1.52 $ 0.45 $ 2.86 $ 1.90
Income from discontinued operations (in dollars per share) $ 0.32 $ 0.01 $ 0.34 $ 0.29
Net income available to common stockholders (in dollars per share) $ 1.84 $ 0.46 $ 3.20 $ 2.19
Weighted average number of common shares outstanding during the period (in shares) 37,320,562 35,600,772 37,206,895 34,736,311
Diluted:        
Income from continuing operations (in dollars per share) $ 1.52 $ 0.44 $ 2.85 $ 1.90
Income from discontinued operations (in dollars per share) $ 0.32 $ 0.01 $ 0.34 $ 0.28
Net income available to common stockholders (in dollars per share) $ 1.84 $ 0.45 $ 3.19 $ 2.18
Weighted average number of common shares outstanding during the period (in shares) 37,436,983 35,699,666 37,295,691 34,834,076
Dividends per common share (in dollars per share) $ 1.21 $ 1.10 $ 3.63 $ 3.30