Stockholders' Equity

3 Months Ended

Mar. 31, 2013

Stockholders' Equity Note [Abstract]

Stockholders' Equity

6. Stockholders’ Equity

Shares of Common Stock and Noncontrolling Interest

During the three months ended March 31, 2013, we issued 8,400,000 shares of the Company’s common stock in an underwritten public offering. Net proceeds were approximately $132,050.

The following table summarizes the changes in Noncontrolling Interest for the three months ended March 31, 2013 and 2012:

	March 31, 2013			March 31, 2012
Noncontrolling Interest, Beginning of Period	$	42,274		$	45,919
Net Loss	(220		)	(207		)
Distributions	(400		)	—
Other Comprehensive Income	34			33
Conversion of Units to Common Stock	—			(99		)
Reallocation—Additional Paid In Capital	2,268			116
Reallocation—Other Comprehensive Income	22			15
Noncontrolling Interest, End of Period	$	43,978		$	45,777

Restricted Stock

During the three months ended March 31, 2013, we awarded 284,461 shares of restricted stock awards to certain employees, which had a fair value of approximately $4,719 on the date of approval by the Compensation Committee of the Board of Directors. The restricted stock awards granted during the quarter vest over a period of three years. Compensation expense will be charged to earnings over the vesting period for the shares expected to vest except if the recipient is not required to provide future service in exchange for vesting of the shares. If vesting of a recipient's restricted stock is not contingent upon future service, the expense is recognized immediately at the date of grant. During the three months ended March 31, 2013, we recognized $1,008 of compensation expense related to restricted shares granted during the quarter to the Chief Executive Officer for which future service was not required.

During the three months ended March 31, 2013 and 2012, we recognized $1,826 and $1,099, respectively, in restricted stock amortization related to restricted stock and unit awards, of which $11 and $0, respectively, was capitalized in connection with development activities. At March 31, 2013, we had $6,310 in unrecognized compensation related to unvested restricted stock and unit awards. The weighted average period that the unrecognized compensation is expected to be recognized is 1.15 years.

Dividend/Distributions

The coupon rate of our Series F Preferred Stock resets every quarter at 2.375% plus the greater of (i) the 30 year Treasury constant maturity treasury (“CMT”) Rate, (ii) the 10 year Treasury CMT Rate or (iii) 3 month LIBOR. For the first quarter of 2013, the new coupon rate was 5.325%. See Note 10 for additional derivative information related to the Series F Preferred Stock coupon rate reset.

The following table summarizes dividends/distributions accrued during the three months ended March 31, 2013:

	Three Months Ended March 31, 2013
	Dividend/ Distribution per Share		Total Dividend / Distribution
Common Stock/Operating Partnership Units	$	0.085	$	9,536
Series F Preferred Stock	$	1,331.25	$	666
Series G Preferred Stock	$	1,809.00	$	452
Series J Preferred Stock	$	4,531.30	$	1,813
Series K Preferred Stock	$	4,531.30	$	906