Condensed Consolidated Statements of Operations - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Mar. 31, 2026 |
Jun. 30, 2025 |
Mar. 31, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Rents and other single-family property revenues | $ 470,104 | $ 457,503 | $ 942,128 | $ 916,779 | ||
| Expenses: | ||||||
| General and administrative expense | 21,659 | 20,008 | 42,991 | 39,679 | ||
| Interest expense | 49,527 | 46,303 | 97,749 | 91,729 | ||
| Acquisition, disposition and other transaction costs | 3,195 | 2,655 | 6,255 | 5,716 | ||
| Depreciation and amortization | 127,606 | 126,939 | 254,950 | 251,867 | ||
| Total expenses | 397,774 | 390,406 | 799,725 | 785,203 | ||
| Gain on sale and impairment of single-family properties and other, net | 59,432 | 51,908 | 137,876 | 113,924 | ||
| Loss on early extinguishment of debt | 0 | 0 | 0 | (216) | ||
| Other income and expense, net | 1,157 | 4,619 | 1,484 | 7,053 | ||
| Net income | 132,919 | $ 148,844 | 123,624 | $ 128,713 | 281,763 | 252,337 |
| Noncontrolling interest | 15,807 | 14,585 | 33,397 | 29,840 | ||
| Dividends on preferred shares | 3,486 | 3,486 | 6,972 | 6,972 | ||
| Net income attributable to common shareholders | $ 113,626 | $ 105,553 | $ 241,394 | $ 215,525 | ||
| Weighted-average common shares outstanding: | ||||||
| Basic (in shares) | 360,629,168 | 370,692,250 | 362,445,489 | 370,538,451 | ||
| Diluted (in shares) | 360,808,221 | 371,059,970 | 362,643,354 | 370,916,988 | ||
| Net income attributable to common shareholders per share: | ||||||
| Basic (in dollars per share) | $ 0.31 | $ 0.28 | $ 0.66 | $ 0.58 | ||
| Diluted (in dollars per share) | $ 0.31 | $ 0.28 | $ 0.66 | $ 0.58 | ||
| Property operating expenses | ||||||
| Expenses: | ||||||
| Cost of goods and services sold | $ 161,943 | $ 160,089 | $ 330,652 | $ 327,619 | ||
| Property management expenses | ||||||
| Expenses: | ||||||
| Cost of goods and services sold | $ 33,844 | $ 34,412 | $ 67,128 | $ 68,593 | ||
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- Definition Acquisition Cost, Business Combination, Property Acquisition No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before tax, of income (loss) attributable to noncontrolling interest. Includes, but is not limited to, income (loss) from continuing operations, discontinued operations and equity method investments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of operating lease income from lease payments and variable lease payments paid and payable to lessor. Includes, but is not limited to, variable lease payments not included in measurement of lease receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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