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Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Schedule of Calculation of Numerator and Denominator in Earnings Per Share

 

 

 

 

 

 

 

Years ended December 31,

 

 

2012

 

2011

 

 

 

 

 

Numerator

 

 

 

 

Income (loss) from continuing operations

 

$       25,377,000 

 

$    (26,068,000)

Preferred stock dividends

 

(14,819,000)

 

(14,200,000)

Preferred stock redemption costs

 

(4,998,000)

 

 -

Net loss attributable to noncontrolling interests

 

375,000 

 

920,000 

Net earnings allocated to unvested shares

 

(806,000)

 

(810,000)

Income (loss) from continuing operations attributable to common shareholders

 

5,129,000 

 

(40,158,000)

Results from discontinued operations, net of noncontrolling interests

 

3,954,000 

 

(78,413,000)

Net income (loss) attributable to common shareholders, basic and diluted

 

$         9,083,000 

 

$  (118,571,000)

 

 

 

 

 

Denominator

 

 

 

 

Weighted average number of vested common shares outstanding

 

68,017,000 

 

66,387,000 

 

 

 

 

 

Earnings (loss) per common share, basic and diluted

 

 

 

 

Continuing operations

 

$                  0.07 

 

$               (0.61)

Discontinued operations

 

$                  0.06 

 

$               (1.18)

 

 

$                  0.13 

 

$               (1.79)