v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUES        
Rental income $ 785,049 $ 768,827 $ 1,564,895 $ 1,529,637
EXPENSES        
Property and maintenance 142,754 136,274 292,410 280,247
Real estate taxes and insurance 122,257 112,332 239,283 224,084
Property management 38,149 34,786 73,290 70,602
General and administrative 16,640 18,531 33,505 36,786
Depreciation 246,379 240,889 493,875 497,635
Total expenses 566,179 542,812 1,132,363 1,109,354
Net gain (loss) on sales of real estate properties (16,744) 58,280 (16,776) 212,432
Interest and other income 12,954 2,129 15,192 3,821
Other expenses (10,004) (4,805) (50,792) (8,961)
Interest:        
Expense incurred, net (82,462) (75,317) (159,832) (147,431)
Amortization of deferred financing costs (2,145) (2,103) (4,290) (4,247)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels 120,469 204,199 216,034 475,897
Income and other tax (expense) benefit (411) (407) (833) (829)
Income (loss) from investments in unconsolidated entities (2,318) (4,996) (4,360) (11,407)
Net gain (loss) on sales of land parcels   (11)   (78)
Net income 117,740 198,785 210,841 463,583
Net (income) loss attributable to Noncontrolling Interests:        
Operating Partnership (2,501) (5,226) (4,454) (12,328)
Partially Owned Properties (1,104) (1,203) (2,173) (2,307)
Net income attributable to controlling interests 114,135 192,356 204,214 448,948
Preferred distributions (355) (355) (711) (711)
Net income available to Common Shares $ 113,780 $ 192,001 $ 203,503 $ 448,237
Earnings per share – basic:        
Net income available to Common Shares $ 0.3 $ 0.51 $ 0.54 $ 1.18
Weighted average Common Shares outstanding 374,179 379,508 374,907 379,359
Earnings per share – diluted:        
Net income available to Common Shares $ 0.3 $ 0.5 $ 0.54 $ 1.18
Weighted average Common Shares outstanding 383,878 391,498 384,528 391,345