Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per Common Share:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2011			2010			2011			2010
Earnings per Common Share - basic:
Numerator:
Income from continuing operations	$	5,402		$	8,501		$	31,651		$	59,757
Net (income) attributable to noncontrolling  interests in the Operating Partnership from continuing operations		(225	)		(352	)		(1,323	)		(2,761	)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates from continuing operations		(249	)		148			(554	)		(281	)
Dividends on Preferred Stock		(627	)		(1,677	)		(3,926	)		(5,031	)
Excess of Preferred Stock redemption/repurchase cost over carrying value		—			—			(1,895	)		—
Income from continuing operations available for common stockholders		4,301			6,620			23,953			51,684
Income from discontinued operations		2,842			272			3,470			1,147
Net (income) attributable to noncontrolling interests in the Operating Partnership from discontinued operations		(141	)		(14	)		(173	)		(58	)
Income from discontinued operations available for common stockholders		2,701			258			3,297			1,089
Net income available for common stockholders	$	7,002		$	6,878		$	27,250		$	52,773
Denominator:
Denominator for basic earnings per Common Share – weighted average shares		72,492			71,631			72,176			71,549
Earnings per Common Share – basic:
Income from continuing operations available for common stockholders	$	0.06		$	0.10		$	0.33		$	0.72
Income from discontinued operations available for common stockholders		0.04			—			0.05			0.02
Net income available for common stockholders	$	0.10		$	0.10		$	0.38		$	0.74
Earnings per Common Share - diluted:
Numerator:
Income from continuing operations	$	5,402		$	8,501		$	31,651		$	59,757
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates from continuing operations		(249	)		148			(554	)		(281	)
Dividends on Preferred Stock		(627	)		(1,677	)		(3,926	)		(5,031	)
Excess of Preferred Stock redemption/repurchase cost over carrying value		—			—			(1,895	)		—
Income from continuing operations available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership		4,526			6,972			25,276			54,445
Income from discontinued operations available for common stockholders		2,842			272			3,470			1,147
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership	$	7,368		$	7,244		$	28,746		$	55,592
Denominator:
Denominator for basic earnings per Common Share –weighted average shares		72,492			71,631			72,176			71,549
Add:
Stock options using the treasury method		138			210			169			183
Noncontrolling interests partnership units		3,772			3,797			3,782			3,805
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions (1)		76,402			75,638			76,127			75,537
Earnings per Common Share – diluted:
Income from continuing operations available for common stockholders	$	0.06		$	0.10		$	0.33		$	0.72
Income from discontinued operations available for common stockholders		0.04			—			0.05			0.02
Net income available for common stockholders	$	0.10		$	0.10		$	0.38		$	0.74

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(1) There were 0.4 million and 0.7 million options outstanding during the three months ended September 30, 2011 and 2010, respectively, and 0.3 million and 0.7 million options outstanding during the nine months ended September 30, 2011 and 2010, respectively, that were not included in the computation of diluted earnings per share because the impact of including such options would be anti-dilutive.