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Earnings Per Share (Tables) | 9 Months Ended
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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 |
__________
(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.

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