Annual report pursuant to Section 13 and 15(d)

Income Taxes (Details 2)

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Income Taxes (Details 2) (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Other income tax information      
Approximate amount by which basis of assets and liabilities for tax reporting purposes is lower than amount reported on consolidated balance sheet $ 387,000,000    
Current income tax (benefit) expense      
Total income tax (benefit) expense (381,000) 6,710,000 (119,000)
Income tax expense      
Income tax (expense) benefit (381,000) 6,710,000 (108,000)
Reported on line entitled gain on sale of real estate, net 0 0 (11,000)
Total income tax (benefit) expense (381,000) 6,710,000 (119,000)
Reconciliation of Federal statutory rate to the effective tax rate      
Income taxes at U.S. statutory rate (as a percent) 34.00% 34.00% 34.00%
State and local, net of U.S. Federal tax benefit (as a percent) 4.60% 4.60% 4.20%
Other (as a percent) 0.00% 0.00% (3.50%)
Effective tax rate (as a percent) 38.60% 38.60% 34.70%
TRS
     
Dividends      
Operating Loss Carryforwards 16,000,000    
Other income tax information      
(Loss) income before income taxes 11,300,000 (27,700,000) 345,000
Deferred income tax (benefit) expense      
Federal (312,000) 5,510,000 64,000
State (69,000) 1,219,000 14,000
Total deferred income tax (benefit) expense (381,000) 6,729,000 78,000
Current income tax (benefit) expense      
Federal 0 (16,000) (161,000)
State 0 (3,000) (36,000)
Total current income tax (benefit) expense 0 (19,000) (197,000)
Total income tax (benefit) expense (381,000) 6,710,000 (119,000)
Income tax expense      
Total income tax (benefit) expense (381,000) 6,710,000 (119,000)
Deferred Tax Assets, Net [Abstract]      
Operating loss and interest deduction carry forwards 6,014,000 1,758,000  
Share-based compensation 598,000 497,000  
Property (1) 0 4,668,000  
Net deferred tax asset $ 6,612,000 $ 6,923,000  
Common Shares
     
Dividends      
Ordinary income (as a percent) 33.20% 56.90% 59.70%
Long term capital gain (as a percent) 0.00% 9.40% 8.00%
Return of capital (as a percent) 66.80% 33.70% 32.30%
Preferred Shares
     
Dividends      
Ordinary income (as a percent) 100.00% 85.90% 88.30%
Long term capital gain (as a percent) 0.00% 14.10% 11.70%
Return of capital (as a percent) 0.00% 0.00% 0.00%