v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 251,429 $ 297,281
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 324,789 306,208
Gain on sale of depreciable real estate assets (55,419) (71,842)
Loss (gain) on embedded derivative in preferred shares 483 (1,283)
Stock compensation expense 9,487 8,727
Amortization of debt issuance costs, discounts and premiums 3,535 3,242
Gain on investments (20,481) (413)
Change in accrued expenses and other liabilities (29,184) 13,306
Net change in other operating accounts and operating activities (2,090) (5,159)
Net cash provided by operating activities 482,549 550,067
Cash flows from investing activities:    
Purchases of real estate and other assets (46,015) (8,690)
Capital improvements and other (167,354) (161,541)
Development costs (141,024) (145,358)
Contributions to affiliates (1,238) (7,425)
Proceeds from real estate asset dispositions 79,881 81,128
Net proceeds from insurance recoveries 0 3,564
Net cash used in investing activities (275,750) (238,322)
Cash flows from financing activities:    
Net (payments of) proceeds from commercial paper (12,000) 65,000
Proceeds from notes payable 300,474 0
Payment of deferred financing costs (4,476) 0
Repurchase of common shares (122,788) 0
Distributions to noncontrolling interests (8,983) (9,297)
Distributions paid on common units (356,923) (354,284)
Distributions paid on preferred units (1,844) (1,844)
Proceeds from issuances of common units 735 729
Acquisition of noncontrolling interest (11,034) 0
Net change in other financing activities 1,069 (694)
Net cash used in financing activities (215,770) (300,390)
Net (decrease) increase in cash, cash equivalents and restricted cash (8,971) 11,355
Cash, cash equivalents and restricted cash, beginning of period 73,975 56,761
Cash, cash equivalents and restricted cash, end of period 65,004 68,116
Reconciliation of cash, cash equivalents and restricted cash at period end:    
Cash and cash equivalents 51,836 54,482
Restricted cash 13,168 13,634
Total cash, cash equivalents and restricted cash 65,004 68,116
Supplemental information:    
Interest paid 92,903 87,696
Income taxes paid 3,264 141
Non-cash transactions:    
Distributions on common shares/units declared and accrued 181,985 181,832
Accrued construction in progress 38,650 41,738
Interest capitalized 8,280 10,153
Conversion of OP Units to shares of common stock 594 6,368
Limited Partnership [Member]    
Cash flows from operating activities:    
Net income 251,429 297,281
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 324,789 306,208
Gain on sale of depreciable real estate assets (55,419) (71,842)
Loss (gain) on embedded derivative in preferred shares 483 (1,283)
Stock compensation expense 9,487 8,727
Amortization of debt issuance costs, discounts and premiums 3,535 3,242
Gain on investments (20,481) (413)
Change in accrued expenses and other liabilities (29,184) 13,306
Net change in other operating accounts and operating activities (2,090) (5,159)
Net cash provided by operating activities 482,549 550,067
Cash flows from investing activities:    
Purchases of real estate and other assets (46,015) (8,690)
Capital improvements and other (167,354) (161,541)
Development costs (141,024) (145,358)
Contributions to affiliates (1,238) (7,425)
Proceeds from real estate asset dispositions 79,881 81,128
Net proceeds from insurance recoveries 0 3,564
Net cash used in investing activities (275,750) (238,322)
Cash flows from financing activities:    
Net (payments of) proceeds from commercial paper (12,000) 65,000
Proceeds from notes payable 300,474 0
Payment of deferred financing costs (4,476) 0
Repurchase of common shares (122,788) 0
Distributions paid on common units (365,906) (363,581)
Distributions paid on preferred units (1,844) (1,844)
Proceeds from issuances of common units 735 729
Acquisition of noncontrolling interest (11,034) 0
Net change in other financing activities 1,069 (694)
Net cash used in financing activities (215,770) (300,390)
Net (decrease) increase in cash, cash equivalents and restricted cash (8,971) 11,355
Cash, cash equivalents and restricted cash, beginning of period 73,975 56,761
Cash, cash equivalents and restricted cash, end of period 65,004 68,116
Reconciliation of cash, cash equivalents and restricted cash at period end:    
Cash and cash equivalents 51,836 54,482
Restricted cash 13,168 13,634
Total cash, cash equivalents and restricted cash 65,004 68,116
Supplemental information:    
Interest paid 92,903 87,696
Non-cash transactions:    
Distributions on common shares/units declared and accrued 181,985 181,832
Accrued construction in progress 38,650 41,738
Interest capitalized $ 8,280 $ 10,153