Summary Of Significant Accounting Policies (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Accounting Policies [Abstract] |
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| Reconciliation of property operating income to consolidated net income |
Reconciliation of property operating income to consolidated net income: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2026 | | 2025 | | 2026 | | 2025 | | (In thousands) | | (In thousands) | | Property operating income | $ | 229,896 | | | $ | 216,594 | | | $ | 689,450 | | | $ | 634,610 | | | General and administrative expense | (13,254) | | | (11,649) | | | (38,649) | | | (34,449) | | | Depreciation and amortization | (100,260) | | | (94,277) | | | (300,100) | | | (270,464) | | | Gain on sale of real estate | 473 | | | — | | | 113,801 | | | 77,672 | | | New market tax credit transaction income | — | | | — | | | — | | | 14,176 | | | Other interest income | 1,069 | | | 845 | | | 2,672 | | | 2,493 | | | Interest expense | (49,740) | | | (47,619) | | | (148,864) | | | (134,692) | | | Income from partnerships | 801 | | | 605 | | | 298 | | | 1,687 | | | Net income | $ | 68,985 | | | $ | 64,499 | | | $ | 318,608 | | | $ | 291,033 | | | | | | | | | | | | | | | | | |
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| Supplemental disclosures related to the Consolidated Statements Of Cash Flows |
The following tables provide supplemental disclosures related to the Consolidated Statements of Cash Flows: | | | | | | | | | | | | | | | Nine Months Ended | | | | September 30, | | | | 2026 | | 2025 | | | | (In thousands) | | SUPPLEMENTAL DISCLOSURES: | | | | | | | Total interest costs incurred | $ | 157,309 | | | $ | 145,100 | | | | | Interest capitalized | (8,445) | | | (10,408) | | | | | Interest expense | $ | 148,864 | | | $ | 134,692 | | | | | Cash paid for interest, net of amounts capitalized | $ | 135,387 | | | $ | 121,380 | | | | | Cash paid for income taxes | $ | 338 | | | $ | 329 | | | | | NON-CASH INVESTING AND FINANCING TRANSACTIONS: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Mortgage note receivable repaid with property acquisition | $ | 9,575 | | | $ | — | | | | | Common shares repurchased but not yet settled | $ | 5,752 | | | $ | — | | | | | Shares issued under dividend reinvestment plan | $ | 1,115 | | | $ | 1,193 | | | | | DownREIT operating partnership units issued with acquisition | $ | 265 | | | $ | — | | | | | DownREIT operating partnership units redeemed for common shares | $ | — | | | $ | 103 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| Reconciliation of cash, cash equivalents, and restricted cash |
| | | | | | | | | | | | | | | September 30, | | December 31, | | | | 2026 | | 2025 | | | | (In thousands) | | RECONCILIATION OF CASH, CASH EQUIVALENTS, AND RESTRICTED CASH: | | | | | | | Cash and cash equivalents | $ | 109,728 | | | $ | 107,415 | | | | | Restricted cash (1) | 22,944 | | | 10,291 | | | | | Total cash, cash equivalents, and restricted cash | $ | 132,672 | | | $ | 117,706 | | | |
(1)Restricted cash balances are included in "prepaid expenses and other assets" on our consolidated balance sheets.
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