v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (429,249) $ 194,442
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 146,412 157,928
Amortization of net (below) above market lease intangibles and other deferred rent on certain other below-market leases (8,452) (14,974)
Amortization of debt issuance costs 2,667 2,389
Amortization of discount/(premium) on notes payable, net 3,303 3,139
Accretion of net loan origination fees and costs (230) (230)
Loss on debt extinguishment 0 200
Impairment of real estate 631,578 0
Gains on sale of real estate (48,174) (57,518)
Share-based compensation 4,841 19,790
Straight-line rent (25,103) (12,435)
Amortization related to termination/settlement of interest rate derivatives 155 154
Change in working capital components:    
Rents and other receivables 1,571 3,017
Deferred leasing costs (22,387) (11,406)
Other assets 7,647 10,442
Accounts payable, accrued expenses and other liabilities (9,597) (11,447)
Tenant security deposits 400 285
Tenant prepaid rents (7,430) (3,068)
Net cash provided by operating activities 247,952 280,708
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (111,097) (162,344)
Proceeds from sale of real estate 255,008 128,958
Net cash provided by (used in) investing activities 143,911 (33,386)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock, net 0 477,598
Proceeds from borrowings 279,000 0
Repayment of borrowings (272,146) (481)
Payment of debt issuance costs 0 (9,308)
Dividends paid to preferred stockholders (4,629) (4,629)
Dividends paid to common stockholders (198,014) (195,610)
Distributions paid to common unitholders (7,803) (7,498)
Distributions paid to preferred unitholders (180) (471)
Repurchase of common stock under stock repurchase programs (300,166) 0
Repurchase of common shares to satisfy employee tax withholding requirements (21,477) (1,706)
Net cash (used in) provided by financing activities (525,415) 257,895
(Decrease) increase in cash, cash equivalents and restricted cash (133,552) 505,217
Cash, cash equivalents and restricted cash, beginning of period 165,778 55,971
Cash, cash equivalents and restricted cash, end of period 32,226 561,188
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of capitalized interest of $13,378 and $17,294 for the six months ended June 30, 2026 and 2025, respectively) 49,058 50,124
Supplemental disclosure of noncash transactions:    
Accrual for capital expenditures 31,077 51,942
Accrual of dividends and distributions $ 100,960 $ 105,594