CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 9 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2026 |
Sep. 30, 2025 |
Sep. 30, 2026 |
Sep. 30, 2025 |
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| Revenues: | ||||||||||
| Resident fees and services | $ 3,121,141 | $ 2,061,370 | $ 8,886,963 | $ 5,896,944 | ||||||
| Rental income | 488,641 | 499,475 | 1,402,223 | 1,444,082 | ||||||
| Interest income | 83,251 | 67,216 | 231,549 | 191,763 | ||||||
| Other income | 22,744 | 57,631 | 91,554 | 124,234 | ||||||
| Total revenues | 3,715,777 | 2,685,692 | 10,612,289 | 7,657,023 | ||||||
| Expenses: | ||||||||||
| Property operating expenses | 2,246,026 | 1,577,048 | 6,451,569 | 4,554,149 | ||||||
| Depreciation and amortization | 706,786 | 509,812 | 2,067,302 | 1,490,717 | ||||||
| Interest expense | 192,655 | 162,052 | 567,284 | 448,171 | ||||||
| General and administrative expenses | 67,169 | 63,124 | 202,129 | 191,057 | ||||||
| Loss (gain) on derivatives and financial instruments, net | 0 | 31,682 | 0 | 28,063 | ||||||
| Loss (gain) on extinguishment of debt, net | 6,822 | 0 | 9,533 | 6,156 | ||||||
| Provision for loan losses, net | 230 | 1,088 | 4,045 | (2,032) | ||||||
| Impairment of assets | 33,452 | 3,081 | 64,052 | 75,359 | ||||||
| Other expenses | 124,687 | 44,699 | 242,754 | 75,357 | ||||||
| Total expenses | 3,377,827 | 2,392,586 | 9,608,668 | 6,866,997 | ||||||
| Income (loss) from continuing operations before income taxes and other items | 337,950 | 293,106 | 1,003,621 | 790,026 | ||||||
| Income tax (expense) benefit | (7,116) | (2,335) | 43,230 | 2,131 | ||||||
| Income (loss) from unconsolidated entities | (30,689) | (12,610) | (50,344) | (18,739) | ||||||
| Gain (loss) on real estate dispositions and acquisitions of controlling interests, net | 114,678 | 4,025 | 633,615 | 70,652 | ||||||
| Income (loss) from continuing operations | 414,823 | 282,186 | 1,630,122 | 844,070 | ||||||
| Net income (loss) | 414,823 | 282,186 | 1,630,122 | 844,070 | ||||||
| Less: Net income (loss) attributable to noncontrolling interests | [1] | 18,236 | 1,627 | 59,861 | 3,666 | |||||
| Net income (loss) attributable to common stockholders | $ 396,587 | $ 280,559 | $ 1,570,261 | $ 840,404 | ||||||
| Weighted average number of common shares outstanding: | ||||||||||
| Basic (in shares) | 724,329 | 672,407 | 711,389 | 657,571 | ||||||
| Diluted (in shares) | 754,903 | 685,399 | 739,794 | 669,218 | ||||||
| Basic: | ||||||||||
| Income (loss) from continuing operations (in dollars per share) | $ 0.57 | $ 0.42 | $ 2.29 | $ 1.28 | ||||||
| Net income (loss) attributable to common stockholders (in dollars per share) | 0.55 | 0.42 | 2.21 | 1.28 | ||||||
| Diluted: | ||||||||||
| Income (loss) from continuing operations (in dollars per share) | 0.55 | 0.41 | 2.20 | 1.26 | ||||||
| Net income (loss) attributable to common stockholders (in dollars per share) | [2] | 0.54 | 0.41 | 2.16 | 1.26 | |||||
| Dividends declared and paid per common share (in dollars per share) | $ 0.85 | $ 0.74 | $ 2.33 | $ 2.08 | ||||||
| Net income (loss) | $ 414,823 | $ 282,186 | $ 1,630,122 | $ 844,070 | ||||||
| Other comprehensive income (loss): | ||||||||||
| Foreign currency translation gain (loss) | 3,180 | (207,037) | (387,821) | 521,942 | ||||||
| Derivative and financial instruments designated as hedges gain (loss) | 3,413 | 154,461 | 255,488 | (377,669) | ||||||
| Total other comprehensive income (loss) | 6,593 | (52,576) | (132,333) | 144,273 | ||||||
| Total comprehensive income (loss) | 421,416 | 229,610 | 1,497,789 | 988,343 | ||||||
| Less: Total comprehensive income (loss) attributable to noncontrolling interests | [3] | 18,519 | 483 | 55,223 | 5,565 | |||||
| Total comprehensive income (loss) attributable to common stockholders | $ 402,897 | $ 229,127 | $ 1,442,566 | $ 982,778 | ||||||
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| X | ||||||||||
- Definition Amount of impairment loss for asset. Includes, but is not limited to, tangible and intangible assets and goodwill. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- 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 aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- 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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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- 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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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- 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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| X | ||||||||||
- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The amount of net income (loss) from continuing operations 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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| X | ||||||||||
- Definition The amount of net income (loss) derived from continuing operations during 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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| X | ||||||||||
- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Aggregate amount of interest expense on all borrowings. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- 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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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- 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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| X | ||||||||||
- Definition Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount, after tax and adjustments, of gain (loss) from increase (decrease) in value of excluded component of derivative designated and qualifying as hedge. Adjustments include, but are not limited to, reclassifications for sale and settlement, and amounts recognized under systematic and rational method. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of expense classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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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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| X | ||||||||||
- Definition Amount of credit loss expense (reversal of expense) for financing receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- 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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| X | ||||||||||
- 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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| X | ||||||||||
- Definition Average number of common shares outstanding No definition available.
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| X | ||||||||||
- Definition Gain (Loss) on Disposition of Real Estate and Asset Acquisitions, Net No definition available.
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