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Earning Per Share (Tables)
6 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
Schedule of Calculation of Numerator and Denominator in Earnings Per Share

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

 

June 30, 2012

 

June 30, 2012

 

 

 

 

 

Numerator

 

 

 

 

Income (loss) from continuing operations

 

$                 4,658,000 

 

$            (3,264,000)

Preferred stock dividends

 

 (3,607,000)

 

 (7,138,000)

Preferred stock redemption costs

 

 (382,000)

 

 (382,000)

Net loss attributable to noncontrolling interests

 

 124,000 

 

 301,000 

Net earnings allocated to unvested shares

 

 (295,000)

 

 (448,000)

Income (loss) from continuing operations available for common shareholders

 

 498,000 

 

 (10,931,000)

Results from discontinued operations, net of noncontrolling interests

 

 443,000 

 

 2,379,000 

Net income (loss) available for common shareholders, basic and diluted

 

$                    941,000 

 

$            (8,552,000)

 

 

 

 

 

Denominator

 

 

 

 

Weighted average number of vested common shares outstanding

 

 68,038,000 

 

 67,787,000 

 

 

 

 

 

Earnings (loss) per common share, basic and diluted

 

 

 

 

Continuing operations

 

$                          0.01 

 

$                     (0.16)

Discontinued operations

 

$                          0.00 

 

$                      0.03 

 

 

$                          0.01 

 

$                     (0.13)