|
Condensed Consolidated Unaudited Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2013
|
Jun. 30, 2012
|
Jun. 30, 2013
|
Jun. 30, 2012
|
|
| Revenues: | ||||
| Rental and other property income | $ 64,101 | $ 65,525 | $ 130,531 | $ 130,529 |
| Tenant reimbursement income | 4,310 | 3,259 | 8,471 | 7,783 |
| Earned income from direct financing leases | 458 | 472 | 947 | 944 |
| Interest income on mortgage notes receivable | 1,448 | 1,548 | 2,937 | 3,113 |
| Total revenue | 70,317 | 70,804 | 142,886 | 142,369 |
| Expenses: | ||||
| General and administrative expenses | 2,479 | 1,848 | 4,720 | 4,093 |
| Property operating expenses | 5,407 | 5,546 | 10,973 | 11,311 |
| Property and asset management expenses | 4,541 | 4,281 | 9,140 | 8,942 |
| Merger related expenses | 2,725 | 1,419 | 14,159 | 1,419 |
| Depreciation | 15,269 | 15,205 | 30,504 | 30,417 |
| Amortization | 6,687 | 7,328 | 13,457 | 14,310 |
| Impairment of real estate assets | 0 | 1,979 | 1,152 | 1,979 |
| Total operating expenses | 37,108 | 37,606 | 84,105 | 72,471 |
| Operating income | 33,209 | 33,198 | 58,781 | 69,898 |
| Other income (expense): | ||||
| Gain on sale of real estate assets, equity in income of unconsolidated joint venture and other income | 73 | 412 | 323 | 540 |
| Interest expense | (26,164) | (26,855) | (52,133) | (53,880) |
| Total other expense | (26,091) | (26,443) | (51,810) | (53,340) |
| Net income | $ 7,118 | $ 6,755 | $ 6,971 | $ 16,558 |
| Weighted average number of common shares outstanding: | ||||
| Basic (in shares) | 208,584,611 | 210,142,692 | 208,587,290 | 210,159,439 |
| Diluted (in shares) | 208,586,172 | 210,143,788 | 208,588,851 | 210,160,535 |
| Net income per common share: | ||||
| Basic and diluted (in dollars per share) | $ 0.03 | $ 0.03 | $ 0.03 | $ 0.08 |
| Distributions declared per common share (in dollars per share) | $ 0.16 | $ 0.16 | $ 0.31 | $ 0.31 |