| Reconciliation of Cash, Cash Equivalents and Restricted Cash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Years Ended December 31, |
|
2020 |
|
2019 |
|
2018 |
Consolidated balance sheets |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
69,083 |
|
$ |
62,786 |
|
$ |
37,379 |
Restricted cash included in |
|
|
|
|
|
|
|
|
Land and building held for development, net |
|
1,088 |
|
|
1,088 |
|
|
1,088 |
Cash, cash equivalents and restricted cash |
|
|
|
|
|
|
|
|
at the end of the period |
$ |
70,171 |
|
$ |
63,874 |
|
$ |
38,467 |
|
| Calculation Of Earnings Per Share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2020 |
|
2019 |
|
2018 |
Calculation of net income allocable to common shareholders |
|
|
|
|
|
|
|
|
Net income |
$ |
206,705 |
|
$ |
203,972 |
|
$ |
271,901 |
Net (income) loss allocated to |
|
|
|
|
|
|
|
|
Preferred shareholders based upon distributions |
|
(48,186) |
|
|
(54,346) |
|
|
(51,880) |
Preferred shareholders based upon redemptions |
|
— |
|
|
(11,007) |
|
|
— |
Noncontrolling interests—joint venture |
|
(17) |
|
|
(44) |
|
|
1,030 |
Restricted stock unit holders |
|
(716) |
|
|
(910) |
|
|
(1,923) |
Net income allocable to common shareholders |
|
|
|
|
|
|
|
|
and noncontrolling interests—common units |
|
157,786 |
|
|
137,665 |
|
|
219,128 |
Net income allocation to noncontrolling interests— |
|
|
|
|
|
|
|
|
common units |
|
(33,141) |
|
|
(28,962) |
|
|
(46,229) |
Net income allocable to common shareholders |
$ |
124,645 |
|
$ |
108,703 |
|
$ |
172,899 |
|
|
|
|
|
|
|
|
|
Calculation of common partnership units as a percentage of common share equivalents |
|
Weighted average common shares outstanding |
|
27,475 |
|
|
27,418 |
|
|
27,321 |
Weighted average common partnership units outstanding |
|
7,305 |
|
|
7,305 |
|
|
7,305 |
Total common share equivalents |
|
34,780 |
|
|
34,723 |
|
|
34,626 |
Common partnership units as a percentage of common |
|
|
|
|
|
|
|
|
share equivalents |
|
21.0% |
|
|
21.0% |
|
|
21.1% |
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding |
|
|
|
|
|
|
|
|
Basic weighted average common shares outstanding |
|
27,475 |
|
|
27,418 |
|
|
27,321 |
Net effect of dilutive stock compensation—based on |
|
|
|
|
|
|
|
|
treasury stock method using average market price |
|
88 |
|
|
108 |
|
|
101 |
Diluted weighted average common shares outstanding |
|
27,563 |
|
|
27,526 |
|
|
27,422 |
|