v3.26.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues:    
Property rental $ 733,213 $ 704,380
Tenant reinsurance 89,119 84,712
Management fees and other income 33,695 30,905
Total revenues 856,027 819,997
Expenses:    
Property operations 238,303 223,582
Tenant reinsurance 17,867 17,116
General and administrative 46,509 45,974
Depreciation and amortization 185,795 180,356
Total expenses 488,474 467,028
Gain on real estate assets held for sale and sold, net 0 35,761
Income from operations 367,553 388,730
Interest expense (147,299) (142,399)
Non-cash interest expense related to amortization of discount on unsecured senior notes, net (12,555) (11,313)
Interest income 39,543 38,967
Income before equity in earnings and dividend income from unconsolidated real estate entities and income tax expense 247,242 273,985
Equity in earnings and dividend income from unconsolidated real estate entities 15,760 19,931
Equity in earnings of unconsolidated real estate ventures - gain on sale of a joint venture interest 207 0
Income tax expense (10,789) (8,991)
Net income 252,420 284,925
Net income allocated to Preferred Operating Partnership noncontrolling interests (673) (724)
Net income allocated to Operating Partnership and other noncontrolling interests (10,770) (13,326)
Net income attributable to common stockholders $ 240,977 $ 270,875
Earnings per common share    
Basic (in dollars per share) $ 1.14 $ 1.28
Diluted (in dollars per share) $ 1.14 $ 1.28
Weighted average number of shares    
Basic (in shares) 210,896,947 211,850,618
Diluted (in shares) 220,322,872 212,052,742
Cash dividends paid per common share (in dollars per share) $ 1.62 $ 1.62