Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Operations

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Consolidated Statements Of Operations (USD $)
In Thousands, except Share data
3 Months Ended 9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues        
Rental income $ 50,332 $ 46,196 $ 145,472 $ 136,606
Other operating income 3,922 2,427 9,027 6,610
Total operating revenues 54,254 48,623 154,499 143,216
Expenses        
Property operations and maintenance 13,888 13,197 40,291 38,673
Real estate taxes 5,243 4,940 15,331 15,290
General and administrative 6,637 4,960 18,344 14,954
Acquisition costs 2,913 23 3,048 136
Depreciation and amortization 8,940 8,215 26,222 24,617
Total operating expenses 37,621 31,335 103,236 93,670
Income from operations 16,633 17,288 51,263 49,546
Other income (expenses)        
Interest expense (13,760) (7,954) (29,739) (23,762)
Interest income 5 24 31 65
Equity in (losses) income of joint ventures (512) 16 (408) 154
Income from continuing operations     21,147 26,003
Income from discontinued operations (including gain on disposal of $6,944 in 2010)       7,562
Net income 2,366 9,374 21,147 33,565
Net income attributable to noncontrolling interest (27) (451) (811) (1,454)
Net income attributable to common shareholders $ 2,339 $ 8,923 $ 20,336 $ 32,111
Earnings per common share attributable to common shareholders - basic        
Continuing operations $ 0.08 $ 0.32 $ 0.74 $ 0.89
Discontinued operations       $ 0.28
Earnings per share - basic $ 0.08 $ 0.32 $ 0.74 $ 1.17
Earnings per common share attributable to common shareholders - diluted        
Continuing operations $ 0.08 $ 0.32 $ 0.74 $ 0.89
Discontinued operations       $ 0.28
Earnings per share - diluted $ 0.08 $ 0.32 $ 0.74 $ 1.17
Common shares used in basic earnings per share calculation 27,593,338 27,485,416 27,563,536 27,464,672
Common shares used in diluted earnings per share calculation 27,634,029 27,525,279 27,607,567 27,504,175
Dividends declared per common share $ 0.45 $ 0.45 $ 1.35 $ 1.35