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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenue:        
Rental $ 35,830 $ 33,606 $ 72,498 $ 64,705
Related party revenue:        
Management fees and interest income from loans 3,045 1,150 5,661 1,958
Other 39 7 73 13
Total revenue 38,914 34,763 78,232 66,676
Expenses:        
Real estate operating expenses 8,828 8,765 17,905 17,495
Real estate taxes and insurance 5,576 5,228 11,389 9,987
Depreciation and amortization 13,224 12,029 26,480 22,774
Selling, general and administrative 2,236 1,602 4,313 3,247
Interest 4,037 3,578 7,714 5,986
Total expenses 33,901 31,202 67,801 59,489
Income before interest income, equity in earnings of non-consolidated REITs and taxes 5,013 3,561 10,431 7,187
Interest income 4 5 12 16
Equity in earnings of non-consolidated REITs 494 1,166 885 2,134
Income before taxes on income 5,511 4,732 11,328 9,337
Taxes on income 77 68 156 118
Income from continuing operations 5,434 4,664 11,172 9,219
Discontinued operations:        
Income from discontinued operations, net of income tax   3,371   3,990
Gain on sale of property less applicable income tax   2,346   21,939
Total discontinued operations   5,717   25,929
Net income $ 5,434 $ 10,381 $ 11,172 $ 35,148
Weighted average number of shares outstanding, basic (in shares) 82,937 81,437 82,937 81,437
Weighted average number of shares outstanding, diluted (in shares) 82,937 81,437 82,937 81,437
Earnings per share, basic and diluted, attributable to:        
Continuing operations (in dollars per share) $ 0.07 $ 0.06 $ 0.13 $ 0.11
Discontinued operations (in dollars per share)   $ 0.07   $ 0.32
Net income per share, basic and diluted (in dollars per share) $ 0.07 $ 0.13 $ 0.13 $ 0.43