v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 104,551 $ 85,605
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 109,465 125,143
Net amortization of deferred financing costs, discounts on available-for-sale securities and debt discounts 15,519 23,455
Net amortization of intangible lease assets and liabilities 8,434 10,522
Gain on sales of real estate assets (20,429) (74,099)
(Gain) loss on insurance proceeds (612) 79
Write-off of development projects 0 27
Share-based compensation expense 7,376 12,585
Loss on impairment 0 3,193
Gain on deconsolidation (41,152) (33,851)
Loss on extinguishment of debt 0 217
Equity in earnings of unconsolidated affiliates (49,834) (15,046)
Distributions of earnings from unconsolidated affiliates 44,097 13,547
Change in estimate of uncollectable revenues 2,516 3,507
Deferred income tax (benefit) provision (2,659) 275
Changes in:    
Tenant and other receivables 398 7,297
Other assets 4,316 2,944
Accounts payable and accrued liabilities 42,321 4,120
Net cash provided by operating activities 224,307 169,520
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to real estate assets (47,285) (38,712)
Acquisitions of real estate assets (43,761) (185,988)
Net proceeds from sales of real estate assets 26,014 168,137
Purchases of available-for-sale securities (586,286) (208,286)
Redemptions of available-for-sale securities 588,803 191,596
Proceeds from insurance 1,447 69
Additional investments in and advances to unconsolidated affiliates 333 (4,735)
Distributions in excess of equity in earnings of unconsolidated affiliates 16,716 5,632
Changes in other assets (1,558) (1,467)
Net cash used in investing activities (45,577) (73,754)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from mortgage and other indebtedness 834,480 188,000
Principal payments on mortgage and other indebtedness (915,417) (200,598)
Additions to debt issuance costs (23,241) (4,892)
Repurchases of common stock (1,336) (4,157)
Contributions from noncontrolling interests 750 1,362
Payment of tax withholdings for restricted stock awards and performance stock units (4,900) (3,761)
Distributions to noncontrolling interests (286) (188)
Dividends paid to common shareholders (58,019) (63,374)
Net cash used in financing activities (167,969) (87,608)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 10,761 8,158
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 152,952 153,805
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 163,713 161,963
Reconciliation from condensed consolidated statements of cash flows to condensed consolidated balance sheets:    
Cash and cash equivalents 60,955 [1] 52,586
Cash held-for-sale 8 0
Restricted cash:    
Restricted cash 28,395 43,154
Mortgage escrows 74,355 66,223
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 163,713 161,963
SUPPLEMENTAL INFORMATION    
Cash paid for interest, net of amounts capitalized $ 101,722 $ 102,563
[1] As of September 30, 2026, includes $155,197 of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities and $174,402 of liabilities of consolidated variable interest entities for which creditors do not have recourse to the general credit of the Company. See Note 8.