EXHIBIT 11 STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS Summarized unaudited consolidated quarterly information for the years ended December 31, 2000 and 1999 is provided below (amounts in thousands, except per share amounts). For the Quarters ended 2000 --------------------------------------------------------- First Second Third Fourth Quarter Quarter Quarter Quarter ------------ ----------- ----------- ------------------- Revenues..................................................... $59,100 $59,974 $60,879 $ 62,369 Income (Loss) before Extraordinary Item...................... $ 6,940 $ 7,512 $ 8,581 $(84,278)(1) Extraordinary Item........................................... (4,207) -- -- -- Net Income (Loss)............................................ $ 2,733 $ 7,512 $ 8,581 $(84,278)(1) Earnings per share Basic....................................................... Income (Loss) before Extraordinary Item................... $ .10 $ .11 $ .13 $ (1.24)(1) Extraordinary Item........................................ (.06) -- -- -- Net Income (Loss)......................................... $ .04 $ .11 $ .13 $ (1.24)(1) Diluted..................................................... Income (Loss) before Extraordinary Item................... $ .10 $ .11 $ .13 $ (1.24)(1) Extraordinary Item........................................ (.06) -- -- -- Net Income (loss)......................................... $ .04 $ .11 $ .13 $ (1.24)(1) For the Quarters ended 1999 ------------------------------------------------------ First Second Third Fourth Quarter Quarter Quarter Quarter ----------- ----------- ----------- ----------------- Revenues..................................................... $56,633 $57,909 $59,057 $ 59,392 Net Income (Loss)............................................ $20,338 $20,166 $13,027 $(10,996)(2) Earnings per share Basic Net Income (Loss)........................................ $ .30 $ .30 $ .19 $ (.16)(2) Diluted Net Income (Loss)............................................ $ .30 $ .30 $ .19 $ (.16)(2) - -------------- (1) Reflects the charge for the United States Settlement and the waiver fee on the Amended Credit Agreement. (2) Reflects the write-off of uncollectible amounts due from tenants and loss from impairment of assets as described in Notes 8 and 9.