The following table sets forth selected financial and operating information. The financial and operating data has been extracted from our consolidated financial statements for each of the periods presented.

The following selected financial and operating information should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and the financial statements and related notes included elsewhere in this Annual Report:
Year Ended December 31,
(in thousands, except per share data) 2000 1999 1998 1997 1996
Operating Data:
  Real Estate Operating Revenue (from continuing operations):   
  Rental revenue $ 531,859   $ 498,849   $ 440,455   $ 325,502   $ 154,165
  Real estates service revenue 26,172 17,054 16,167 15,998 12,512
Consolidated Data:
  Income from continuing operations 147,159 151,079 (1) 119,979 (1) 77,800 24,802 (2)
  Income (loss) from discontinued operations 456 (7,862 ) 6,518 940 —
  Gain on sale of discontinued operations, net of tax 31,852 — — — —
  Dividends paid to common stockholders 123,245 125,876 127,188 97,195 42,914
Per Share Data:
  Basic income from continuing operations $ 1.69 $ 1.71 $ 1.23 $ 1.21 $ 0.90
  Diluted income from continuing operations 1.65 1.71 1.23 1.21 0.90
  Income (loss) from discontinued operations—diluted 0.01 (0.12 ) 0.09 0.02 —
  Gain on sale of discontinued operations—diluted 0.47 — — — —
  Dividends paid to common shareholders 1.85 1.85 1.85 1.75 1.75
  Weighted average shares outstanding—basic 66,221 67,858 68,577 54,873 26,932
  Weighted average shares outstanding—diluted 67,649 67,982 68,778 59,597 26,999

As of Year Ended December 31,
(in thousands) 2000 1999 1998 1997 1996
Balance Sheet Data:
  Real estate, before accumulated depreciation $ 2,813,320 $ 3,067,822 $ 2,934,653 $ 2,384,668 $ 1,475,998
  Total assets 3,072,841 3,479,072 3,627,260 2,730,556 1,536,564
  Mortgages and notes payable 1,211,158 1,603,371 1,610,859 1,025,145 655,449
  Minority interest 89,687 92,586 88,815 73,955 50,597
  Total stockholders’ equity 1,646,706 1,686,715 1,813,939 1,552,697 787,478
  Total common shares outstanding 65,018 66,826 71,760 59,994 43,789

Year Ended December 31,
(in thousands) 2000 1999 1998 1997 1996
Other Data:
  Net cash provided by operating activities $ 173,536 $ 175,002 $ 239,752 $ 133,077 $ 82,300
  Net cash provided by (used by) investing activities 572,995 83,714 (985,321 ) (998,733 ) (876,947 )
  Net cash (used by) provided by financing activities (773,713 ) (238,366 ) 757,760 861,864 813,067
  Funds from continuing operations before
   allocation to the unitholders(3) 254,714 226,587 (3) 211,094 (3) 151,900 64,496 (2)

1.  Net income from continuing operations includes a non-recurring gain (loss) of $4.5 million and ($13.7) million related to a treasury lock agreement in 1999 and 1998, respectively.
2.  Net income and funds from operations before allocation to unitholders includes a non-recurring deduction of approximately $2.3 million in 1996, related to the write-off of the unamortized purchase price of certain third party real estate service contracts that were terminated.
3.  We believe that funds from operations is helpful to investors as a measure of the performance of an equity REIT. Along with cash flow from operating activities, financing activities and investing activities, funds from operations provides investors with an indication of our ability to incur and service debt, to make capital expenditures and to fund other cash needs. Funds from operations is defined by the National Association of Real Estate Investment Trusts (NAREIT) as net income (loss) computed in accordance with generally accepted accounting principles (GAAP), excluding gains or losses from sales of depreciable operating properties and items that are classified as extraordinary items under GAAP, plus depreciation and amortization of assets uniquely significant to the real estate industry and after adjustments for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures are calculated to reflect funds from operations on the same basis. Our funds from operations may not be comparable to funds from operations reported by other REITs that do not define the term in accordance with the current NAREIT definition or that interpret the current NAREIT definition differently from us. Funds from operations does not represent net income or cash flow generated from operating activities in accordance with GAAP and, as such, should not be considered an alternative to net income as an indication of our performance or to cash flow as a measure of liquidity or our ability to make distributions.