Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 29,267,000 $ 18,575,000
Adjustments to reconcile net income to net cash provided by Operating activities:    
Depreciation and amortization, including related intangible assets 47,666,000 47,618,000
Depreciation and amortization on discontinued operations 415,000 441,000
Amortization of stock compensation 934,000 797,000
Amortization of deferred financing costs and debt discount 611,000 584,000
Equity in (earnings) loss of unconsolidated joint venture, net (600,000) 101,000
Realized gains (losses) and unrealized losses on disposition of rental property, net (4,012,000)  
Distributions of cumulative earnings from unconsolidated joint ventures 125,000 369,000
Changes in operating assets and liabilities:    
Increase in unbilled rents receivable, net (756,000) (1,783,000)
Increase in deferred charges and other assets, net (10,910,000) (8,542,000)
(Increase) decrease in accounts receivable, net (737,000) 1,401,000
Increase (decrease) in accounts payable, accrued expenses and other liabilities 6,129,000 (7,724,000)
Increase (decrease) in rents received in advance and security deposits 606,000 (4,575,000)
Decrease in accrued interest payable (11,832,000) (10,992,000)
Net cash provided by operating activities 56,906,000 36,270,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to rental property and related intangibles (21,125,000) (16,787,000)
Investment in unconsolidated joint ventures (32,288,000) (111,000)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 988,000 631,000
Increase in restricted cash (642,000) (2,514,000)
Net cash used in investing activities (53,067,000) (18,781,000)
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 207,526,000 92,000,000
Repayment of revolving credit facility (64,026,000) (304,000,000)
Repayment of senior unsecured notes (100,000,000)  
Proceeds from offering of common stock   227,374,000
Repayment of mortgages, loans payable and other obligations (2,339,000) (2,074,000)
Payment of financing costs   (6,000)
Proceeds from stock options exercised    270,300
Payment of dividends and distributions (44,972,000) (42,176,000)
Net cash used in financing activities (3,811,000) (28,612,000)
Net increase (decrease) in cash and cash equivalents 28,000 (11,123,000)
Cash and cash equivalents, beginning of period 20,496,000 21,851,000
Cash and cash equivalents, end of period $ 20,524,000 $ 10,728,000