|
Condensed Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Share data, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2012
|
Mar. 31, 2011
|
| Revenues: |
|
|
| Rental and other property income |
$ 65,004 |
$ 60,983 |
| Tenant reimbursement income |
4,524 |
4,787 |
| Earned income from direct financing leases |
472 |
486 |
| Interest income on mortgage notes receivable |
1,565 |
1,621 |
| Interest income on marketable securities |
|
1,938 |
| Total revenue |
71,565 |
69,815 |
| Expenses: |
|
|
| General and administrative expenses |
2,228 |
2,002 |
| Property operating expenses |
5,765 |
5,812 |
| Property and asset management expenses |
4,661 |
4,356 |
| Acquisition related expenses |
17 |
362 |
| Depreciation |
15,212 |
14,657 |
| Amortization |
6,982 |
7,397 |
| Total operating expenses |
34,865 |
34,586 |
| Operating income |
36,700 |
35,229 |
| Other income (expense): |
|
|
| Equity in income of unconsolidated joint ventures and other income |
128 |
168 |
| Gain on sale of marketable securities |
|
7,859 |
| Interest expense |
(27,025) |
(26,521) |
| Total other expense |
(26,897) |
(18,494) |
| Net income |
$ 9,803 |
$ 16,735 |
| Weighted average number of common shares outstanding: |
|
|
| Basic |
210,176,186 |
209,271,540 |
| Diluted |
210,177,282 |
209,271,540 |
| Net income per common share: |
|
|
| Basic and diluted |
$ 0.05 |
$ 0.08 |
| Distributions declared per common share: |
|
|
| Basic and diluted |
$ 0.16 |
$ 0.15 |