Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income

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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenue        
Real estate rental revenue $ 73,413 $ 65,828 $ 214,278 $ 196,303
Expenses        
Real estate expenses 25,914 23,243 77,784 69,467
Depreciation and amortization 24,354 21,168 71,508 63,328
Acquisition costs 69 148 5,047 448
General and administrative 4,523 3,850 13,780 11,717
Operating Expenses 54,860 48,409 168,119 144,960
Gain on sale of real estate 0 0 570 0
Real estate operating income 18,553 17,419 46,729 51,343
Other income (expense)        
Interest expense (15,087) (15,930) (44,602) (47,944)
Other income 192 220 634 705
Total other income (expense) (14,895) (15,710) (43,968) (47,239)
Income from continuing operations 3,658 1,709 2,761 4,104
Discontinued operations:        
Income from operations of properties sold or held for sale 0 4,131 546 11,139
Gain on sale of real estate 0 0 105,985 3,195
Net income 3,658 5,840 109,292 18,438
Net Income (Loss) Attributable to Noncontrolling Interest (10) 0 (17) 0
Net income attributable to the controlling interests $ 3,668 $ 5,840 $ 109,309 $ 18,438
Basic net income per share:        
Continuing operations (in dollars per share) $ 0.05 $ 0.03 $ 0.04 $ 0.06
Discontinued operations (in dollars per share) $ 0.00 $ 0.06 $ 1.59 $ 0.21
Net income per share (in dollars per share) $ 0.05 $ 0.09 $ 1.63 $ 0.27
Diluted net income per share:        
Continuing operations (in dollars per share) $ 0.05 $ 0.03 $ 0.04 $ 0.06
Discontinued operations (in dollars per share) $ 0.00 $ 0.06 $ 1.59 $ 0.21
Net income per share (in dollars per share) $ 0.05 $ 0.09 $ 1.63 $ 0.27
Weighted average shares outstanding - basic (in shares) 66,738 66,410 66,725 66,403
Weighted average shares outstanding - diluted (in shares) 66,790 66,561 66,760 66,545
Dividends declared per share (in dollars per share) $ 0.30 $ 0.30 $ 0.9 $ 0.90