v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Rental revenues and other property income $ 678,352 $ 659,107 $ 1,348,867 $ 1,312,178
Management fee revenues 19,738 22,294 39,590 43,702
Homebuilding revenues 49,460 0 93,205 0
Total revenues 747,550 681,401 1,481,662 1,355,880
Expenses:        
Property operating and maintenance 255,712 244,278 506,846 481,727
Property management expense 37,726 35,833 77,051 72,572
Homebuilding cost of sales 42,215 0 81,349 0
General and administrative 29,332 23,591 61,651 53,109
Interest expense 93,987 87,414 189,300 171,668
Depreciation and amortization 194,299 185,455 387,441 368,601
Casualty losses, impairment, and other 4,236 3,029 8,581 7,712
Total expenses 657,507 579,600 1,312,219 1,155,389
Gain on sale of property, net of tax 132,308 46,591 219,402 118,257
Losses from investments in unconsolidated joint ventures (2,402) (4,802) (5,487) (10,020)
Other, net (298) (2,223) (2,642) (1,079)
Net income 219,651 141,367 380,716 307,649
Net income attributable to non-controlling interests (804) (480) (1,361) (1,017)
Net income attributable to common stockholders 218,847 140,887 379,355 306,632
Net income available to participating securities (675) (222) (1,383) (450)
Net income available to common stockholders — basic 218,172 140,665 377,972 306,182
Net income available to common stockholders — diluted $ 218,172 $ 140,665 $ 377,972 $ 306,182
Weighted average common shares outstanding — basic (in shares) 592,411,226 613,048,193 599,166,723 612,913,649
Weighted average common shares outstanding — diluted (in shares) 592,497,804 613,261,904 599,328,126 613,312,641
Net income per common share — basic (in dollars per share) $ 0.37 $ 0.23 $ 0.63 $ 0.50
Net income per common share — diluted (in dollars per share) $ 0.37 $ 0.23 $ 0.63 $ 0.50