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

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Funds From Operations
 2015 Q22014 Q2Y-Y
Ch (%)
2015 Q1Q-Q
Ch (%)
Funds from Operations ($000)37,92334,17910.9539,672(17.63)
FFO per Share ($)0.330.330.000.34(11.76)
FAD per share0.170.23(26.09)0.19(42.11)
Income Statement ($000)
 2015 Q22014 Q2Y-Y
Ch (%)
2015 Q1Q-Q
Ch (%)
Rental Revenue114,252102,20811.78116,915(9.11)
Partnership Income422(557)NM162641.98
Total Revenue125,068103,00921.41117,29626.50
Rental Operating Expense43,58040,4877.6444,994(12.57)
Expenses135,463113,16519.70123,80637.66
Net Income34,525(10,463)NM7,6141,413.76
Rental NOI70,67261,72114.5071,921(6.95)
Diluted EPS after Extraordinary Items ($)0.13(0.10)NM0.07342.86
Dividends Declared per Common Share ($)0.18750.18750.000.18750.00
Avg Diluted Shares Out (actual)116,666,00099,092,00017.74116,531,0000.46
Balance Sheet ($000)
 2015 Q22014 Q2Y-Y
Ch (%)
2015 Q1Q-Q
Ch (%)
Properties at Cost: Operational3,316,8732,787,04819.013,418,060(11.84)
Accumulated Depreciation316,512278,72513.56317,582(1.35)
Net Properties: Operational3,000,3612,508,32319.623,100,478(12.92)
Land Held for Development000.0000.00
Total Real Estate Investments3,104,3292,659,90316.713,233,075(15.93)
Total Assets3,626,7353,131,52115.813,756,697(13.84)
Total Debt1,801,8061,488,38621.061,914,071(23.46)
Total Liabilities1,990,4941,666,87119.412,097,349(20.38)
Common Equity1,381,6291,179,07817.181,383,719(0.60)
Common Shares Outstanding (actual)111,558,07699,269,31112.38111,538,6890.07
Convertible Operating Partnership Units (actual)4,832,9245,199,689(7.05)4,833,311(0.03)
Same Store Operations
 2015 Q22014 Q2Y-Y
Ch (bp)
2015 Q1Q-Q
Ch (bp)
Same-store NOI: Change from Prior (%)(4.40)4.70(910)2.70(710)
EBITDA
 2015 Q22014 Q2Y-Y
Ch (bp)
2015 Q1Q-Q
Ch (bp)
Recurring EBITDA/ Interest Expense (x)3.593.21383.2336
Recurring EBITDA/ Interest & Preferred Dividends (x)3.593.21383.2336
Income Statement Ratios
 2015 Q22014 Q2Y-Y
Ch (bp)
2015 Q1Q-Q
Ch (bp)
Dividend Payout to FFO (%)56.8256.82055.1512
G&A/ Revenue (%)6.235.7297.36(62)
   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.