v3.25.2
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Lease income $ 369,105 $ 347,845 $ 740,184 $ 700,951
Other property income 4,499 2,670 7,520 7,020
Management, transaction, and other fees 7,244 6,735 14,056 13,131
Total revenues 380,848 357,250 761,760 721,102
Operating expenses:        
Depreciation and amortization 99,535 100,968 196,309 198,553
Property operating expense 60,759 59,491 129,218 122,765
Real estate taxes 47,500 45,478 93,860 89,785
General and administrative 25,480 24,238 47,080 50,370
Other operating expenses 1,944 3,066 3,632 5,709
Total operating expenses 235,218 233,241 470,099 467,182
Other expense, net:        
Interest expense, net 50,272 43,178 98,285 86,046
Provision for impairment of real estate 1,262   1,262  
Loss (Gain) on sale of real estate, net of tax 294 (11,081) 193 (22,484)
Loss on early extinguishment of debt       180
Net investment income (788) (703) (27) (3,134)
Total other expense, net 51,040 31,394 99,713 60,608
Income before equity in income of investments in real estate partnerships 94,590 92,615 191,948 193,312
Equity in income of investments in real estate partnerships 13,759 12,314 28,254 24,275
Net income 108,349 104,929 220,202 217,587
Noncontrolling interests:        
Exchangeable operating partnership units (586) (601) (1,228) (1,243)
Limited partners' interests in consolidated partnerships (1,742) (1,660) (3,366) (3,902)
Net income attributable to noncontrolling interests (2,328) (2,261) (4,594) (5,145)
Net income attributable to the Company/ Partnership 106,021 102,668 215,608 212,442
Preferred stock dividends (3,413) (3,413) (6,826) (6,826)
Net income attributable to common shareholders $ 102,608 $ 99,255 $ 208,782 $ 205,616
Net income attributable to common shareholders:        
Per common unit - basic $ 0.57 $ 0.54 $ 1.15 $ 1.12
Per common unit - diluted $ 0.56 $ 0.54 $ 1.15 $ 1.12
Partnership Interest [Member]        
Revenues:        
Lease income $ 369,105 $ 347,845 $ 740,184 $ 700,951
Other property income 4,499 2,670 7,520 7,020
Management, transaction, and other fees 7,244 6,735 14,056 13,131
Total revenues 380,848 357,250 761,760 721,102
Operating expenses:        
Depreciation and amortization 99,535 100,968 196,309 198,553
Property operating expense 60,759 59,491 129,218 122,765
Real estate taxes 47,500 45,478 93,860 89,785
General and administrative 25,480 24,238 47,080 50,370
Other operating expenses 1,944 3,066 3,632 5,709
Total operating expenses 235,218 233,241 470,099 467,182
Other expense, net:        
Interest expense, net 50,272 43,178 98,285 86,046
Provision for impairment of real estate 1,262   1,262  
Loss (Gain) on sale of real estate, net of tax 294 (11,081) 193 (22,484)
Loss on early extinguishment of debt       180
Net investment income (788) (703) (27) (3,134)
Total other expense, net 51,040 31,394 99,713 60,608
Income before equity in income of investments in real estate partnerships 94,590 92,615 191,948 193,312
Equity in income of investments in real estate partnerships 13,759 12,314 28,254 24,275
Net income 108,349 104,929 220,202 217,587
Noncontrolling interests:        
Limited partners' interests in consolidated partnerships (1,742) (1,660) (3,366) (3,902)
Net income attributable to noncontrolling interests (1,742) (1,660) (3,366) (3,902)
Net income attributable to the Company/ Partnership 106,607 103,269 216,836 213,685
Preferred unit distributions (3,413) (3,413) (6,826) (6,826)
Net income attributable to common unit holders $ 103,194 $ 99,856 $ 210,010 $ 206,859
Net income attributable to common unit holders:        
Per common unit - basic $ 0.57 $ 0.54 $ 1.15 $ 1.12
Per common unit - diluted $ 0.56 $ 0.54 $ 1.15 $ 1.12