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Earnings Per Common Share
 3 Months Ended
Mar. 31, 2013
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]
Earnings Per Common Share
Earnings per common share are based on the weighted average number of common shares outstanding during each year. Codification Topic “Earnings Per Share” (“FASB ASC 260”) defines the calculation of basic and fully diluted earnings per share. Basic and fully diluted earnings per share are based on the weighted average shares outstanding during each year and basic earnings per share exclude any dilutive effects of options, unvested restricted shares and convertible securities. The conversion of OP Units has been excluded from the basic earnings per share calculation. The conversion of an OP Unit for a share of common stock has no material effect on earnings per common share on a fully diluted basis.
The following table sets forth the computation of basic and diluted earnings per common share for the quarters ended March 31, 2013 and 2012 (amounts in thousands, except per share data):
 
Quarters Ended
March 31,
 
2013
 
2012
Numerators:
 
 
 
Net Income Available for Common Shares – Fully Diluted:
 
 
 
Net income available for Common Shares – basic
$
35,024

 
$
12,431

Amounts allocated to dilutive securities
3,133

 
1,191

Net income available for Common Shares – fully diluted
$
38,157

 
$
13,622

Denominator:
 
 
 
Weighted average Common Shares outstanding – basic
41,513

 
41,088

Effect of dilutive securities:
 
 
 
Redemption of Common OP Units for Common Shares
3,729

 
3,980

Employee stock options and restricted shares
288

 
301

Weighted average Common Shares outstanding – fully diluted
45,530

 
45,369

Earnings per Common Share – Basic:
 
 
 
Net income available for Common Shares
$
0.84

 
$
0.30

Earnings per Common Share – Fully Diluted:
 
 
 
Net income available for Common Shares
$
0.84

 
$
0.30