v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Real estate:    
Land and improvements $ 4,893,199 $ 4,888,146
Buildings and improvements 20,727,161 20,454,276
Furniture, fixtures and equipment 1,456,106 1,387,506
Gross operating real estate 27,076,466 26,729,928
Less accumulated depreciation (8,416,462) (8,164,411)
Net operating real estate 18,660,004 18,565,517
Construction in progress, including land 1,399,174 1,042,673
Land held for development 101,066 151,922
Real estate assets held for sale, net 334,245 6,950
Total real estate, net 20,494,489 19,767,062
Cash and cash equivalents 102,825 108,576
Restricted cash 192,547 158,500
Unconsolidated investments 227,207 227,320
Deferred development costs 64,221 43,675
Prepaid expenses and other assets 605,741 540,950
Right of use lease assets 150,915 154,654
Total assets 21,837,945 21,000,737
LIABILITIES AND EQUITY    
Unsecured notes, net 7,285,235 7,358,784
Variable rate unsecured credit facility and commercial paper, net 664,637 0
Mortgage notes payable, net 710,223 718,465
Dividends payable 253,107 244,967
Payables for construction 101,619 85,954
Accrued expenses and other liabilities 361,219 356,987
Lease liabilities 169,319 173,282
Accrued interest payable 58,667 58,377
Resident security deposits 63,621 62,829
Total liabilities 9,667,647 9,059,645
Commitments and contingencies
Equity:    
Preferred stock, $0.01 par value; $25 liquidation preference; 50,000,000 shares authorized at June 30, 2025 and December 31, 2024; zero shares issued and outstanding at June 30, 2025 and December 31, 2024 0 0
Common stock, $0.01 par value; 280,000,000 shares authorized at June 30, 2025 and December 31, 2024; 142,381,736 and 142,254,022 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 1,423 1,422
Additional paid-in capital 11,323,160 11,314,116
Accumulated earnings less dividends 595,535 591,250
Accumulated other comprehensive income 27,601 34,304
Equity, Attributable to Parent 11,947,719 11,941,092
Equity, Attributable to Noncontrolling Interest 222,579 0
Total equity 12,170,298 11,941,092
Total liabilities and equity $ 21,837,945 $ 21,000,737