v3.26.3
Stockholders' Equity
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
The following is a summary of our stockholders’ equity capital accounts as of the dates indicated: 
September 30, 2026December 31, 2025
Preferred Stock, $1.00 par value:
Authorized shares50,000,000 50,000,000 
Issued shares— — 
Outstanding shares— — 
Common Stock, $1.00 par value:
Authorized shares1,400,000,000 1,400,000,000 
Issued shares732,170,957 696,631,868 
Outstanding shares731,995,408 696,507,255 
Common Stock
In July 2026, we entered into an equity distribution agreement whereby we can offer and sell up to $7,500,000,000 aggregate amount of our common stock, which replaced our prior equity distribution agreement dated October 28, 2025 (collectively, along with other previous agreements, referred to as the “ATM Programs”). The ATM Programs allows us to enter into forward sale agreements (none outstanding at September 30, 2026). As of September 30, 2026, we had $4,859,303,000 of remaining capacity under the ATM Program. During October 2026, we sold 1,622,950 shares of common stock under the ATM Program.
The following is a summary of our common stock issuances during the nine months ended September 30, 2026 and 2025 (in thousands, except shares and average price amounts): 
Shares IssuedAverage PriceGross ProceedsNet Proceeds
2025 Option exercises25,051 $77.36 $1,938 $1,938 
2025 ATM Program issuances45,080,143 152.47 6,873,247 6,835,580 
2025 Equity issuance (1)
3,055,835 — — 
2025 Redemption of OP Units and DownREIT Units559,950 — — 
2025 Stock incentive plans, net of forfeitures98,042 — — 
2025 Totals48,819,021 $6,875,185 $6,837,518 
2026 Option exercises14,160 $82.06 $1,162 $1,162 
2026 ATM Program issuances34,646,633 218.07 7,555,540 7,504,165 
2026 Redemption of OP Units and DownREIT Units444,878 — — 
2026 Stock incentive plans, net of forfeitures120,729 — — 
2026 Other equity issuances (2)
261,753 — — 
2026 Totals35,488,153 $7,556,702 $7,505,327 
(1) Relates to the re-issuance of treasury shares and issuance of common stock in lieu of cash consideration for the acquisition of real property. Please see Note 3 for additional information.
(2) Relates to shares of common stock issued in connection with a lease modification and extension.
Dividends 
The following is a summary of our dividend payments (in thousands, except per share amounts): 
Nine Months Ended
September 30, 2026September 30, 2025
Per ShareAmountPer ShareAmount
Common stock$2.33 $1,662,088 $2.08 $1,367,581 
On October 26, 2026, the Board of Directors declared a cash dividend for the quarter ended September 30, 2026 of $0.85 per share.
Accumulated Other Comprehensive Income 
The following is a summary of accumulated other comprehensive income (loss) as of the dates presented (in thousands):
September 30, 2026December 31, 2025
Foreign currency translation$(981,876)$(598,593)
Derivative and financial instruments designated as hedges566,440 310,952 
Total accumulated other comprehensive income (loss)$(415,436)$(287,641)