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Trend Analysis--Quarterly (click here for Annual Analysis)

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Funds From Operations
 2014 Q32013 Q3Y-Y
Ch (%)
2014 Q2Q-Q
Ch (%)
Funds from Operations ($000)110,35298,01512.59102,11432.27
FFO per Share ($)0.410.3710.810.3920.51
AFFO per Share0.340.319.680.340.00
Income Statement ($000)
 2014 Q32013 Q3Y-Y
Ch (%)
2014 Q2Q-Q
Ch (%)
Rental Revenue203,587190,3796.94200,9595.23
Partnership Income(939)(3,794)(75.25)(428)477.57
Total Revenue214,874190,62112.72204,51220.27
Rental Operating Expense71,39068,7593.8368,24518.43
Expenses206,755190,0448.79202,3438.72
Net Income41,9923,2351,198.0531,086140.33
Rental NOI132,197121,6208.70132,714(1.56)
Diluted EPS before Extraordinary Items ($)0.160.011,500.000.12133.33
Diluted EPS after Extraordinary Items ($)0.160.011,500.000.12133.33
Dividends Declared per Common Share ($)0.26000.235010.640.26000.00
Avg Diluted Shares Out (actual)253,732,000251,454,0000.91252,191,0002.44
Balance Sheet ($000)
 2014 Q32013 Q3Y-Y
Ch (%)
2014 Q2Q-Q
Ch (%)
Properties at Cost: Operational8,106,6847,626,5866.307,957,1857.52
Accumulated Depreciation2,378,5202,153,14110.472,290,00815.46
Net Properties: Operational5,728,1645,473,4454.655,667,1774.30
Land Held for Development47,038112,091(58.04)47,0380.00
Total Real Estate Investments6,718,0176,558,8122.436,654,4653.82
Total Assets6,898,0886,756,0662.106,932,405(1.98)
Total Debt3,628,1923,463,1724.763,747,794(12.77)
Total Liabilities3,869,1563,706,1974.403,982,421(11.38)
Common Equity2,731,6892,781,448(1.79)2,635,96214.53
Common Shares Outstanding (actual)255,215,905250,743,0211.78251,492,4205.92
Convertible Operating Partnership Units (actual)7,415,8007,571,702(2.06)7,559,861(7.62)
Same Store Operations
 2014 Q32013 Q3Y-Y
Ch (bp)
2014 Q2Q-Q
Ch (bp)
Same-store NOI: Change from Prior (%)5.106.00(90)5.50(40)
EBITDA
 2014 Q32013 Q3Y-Y
Ch (bp)
2014 Q2Q-Q
Ch (bp)
Recurring EBITDA/ Interest Expense (x)3.993.57423.935
Recurring EBITDA/ Interest & Preferred Dividends (x)3.883.47413.826
Income Statement Ratios
 2014 Q32013 Q3Y-Y
Ch (bp)
2014 Q2Q-Q
Ch (bp)
Dividend Payout to FFO (%)63.4163.51(0)66.67(20)
G&A/ Revenue (%)5.305.96(11)6.13(54)
Profitability Ratios
 2014 Q32013 Q3Y-Y
Ch (bp)
2014 Q2Q-Q
Ch (bp)
Return on Average Assets (%)2.430.192241.8162
Return on Average Equity (%)6.150.455704.58157
   Q-Q Ch(%)= most recent quarter minus prior quarter annualized e.g. [(Q4-Q3)/Q3]*4

  * Percentages presented for individual quarters are annualized by taking the quarter amount and multiplying by four.



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