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Fundamentals

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

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Funds From Operations
	2013 Q1	2012 Q1	Y-Y Ch (%)	2012 Q4	Q-Q Ch (%)^†
Funds from Operations ($000)	17,282	10,135	70.52	(31,328)	NM
FFO per Share ($)	0.30	0.43	(30.23)	(0.70)	NM
FAD per share	0.22	0.16	37.50	0.20	40.00

Income Statement ($000)
	2013 Q1	2012 Q1	Y-Y Ch (%)	2012 Q4	Q-Q Ch (%)^†
Rental Revenue	67,760	45,855	47.77	56,744	77.65
Partnership Income	0	0	0.00	0	0.00
Total Revenue	67,825	46,634	45.44	57,321	73.30
Rental Operating Expense	25,617	18,334	39.72	21,945	66.93
Expenses	69,817	49,167	42.00	109,788	(145.63)
Net Income	(2,425)	5,327	NM	(50,798)	(380.90)
Rental NOI	42,143	27,521	53.13	34,799	84.42
Diluted EPS after Extraordinary Items ($)	(0.07)	0.09	NM	(1.16)	(375.86)
Dividends Declared per Common Share ($)	0.1500	0.0750	100.00	0.1125	133.33
Avg Diluted Shares Out (actual)	56,849,000	21,568,000	163.58	44,476,000	111.28

Balance Sheet ($000)
	2013 Q1	2012 Q1	Y-Y Ch (%)	2012 Q4	Q-Q Ch (%)^†
Properties at Cost: Operational	1,934,000	1,204,885	60.51	1,762,566	38.91
Accumulated Depreciation	215,777	172,480	25.10	199,849	31.88
Net Properties: Operational	1,718,223	1,032,405	66.43	1,562,717	39.80
Land Held for Development	0	0	0.00	0	0.00
Total Real Estate Investments	1,718,473	1,121,833	53.18	1,562,967	39.80
Total Assets	2,077,634	1,414,767	46.85	1,906,611	35.88
Total Debt	893,005	692,461	28.96	867,946	11.55
Total Liabilities	982,185	773,026	27.06	950,605	13.29
Common Equity	740,124	243,219	204.30	565,072	123.91
Common Shares Outstanding (actual)	68,765,182	21,954,105	213.22	56,138,209	89.97
Convertible Operating Partnership Units (actual)	1,318	1,803,895	(99.93)	1,318	0.00

Same Store Operations
	2013 Q1	2012 Q1	Y-Y Ch (bp)	2012 Q4	Q-Q Ch (bp)
Same-store NOI: Change from Prior (%)	11.10	(11.20)	2,230	4.70	640

EBITDA
	2013 Q1	2012 Q1	Y-Y Ch (bp)	2012 Q4	Q-Q Ch (bp)
Recurring EBITDA/ Interest Expense (x)	3.51	2.59	91	3.14	37
Recurring EBITDA/ Interest & Preferred Dividends (x)	2.79	2.00	79	2.42	37

Income Statement Ratios
	2013 Q1	2012 Q1	Y-Y Ch (bp)	2012 Q4	Q-Q Ch (bp)
Dividend Payout to FFO (%)	50.00	17.44	187	NM	NM
G&A/ Revenue (%)	6.21	7.72	(19)	8.99	(124)

^† 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.