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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Lease income $ 304,458 $ 292,864 $ 613,259 $ 586,509
Other property income 2,683 2,720 5,821 5,824
Management, transaction, and other fees 7,106 6,499 13,144 13,183
Total revenues 314,247 302,083 632,224 605,516
Operating expenses:        
Depreciation and amortization 83,161 79,350 165,868 157,192
Property operating expense 54,394 47,750 105,416 94,211
Real estate taxes 38,509 36,700 76,986 73,569
General and administrative 25,065 17,645 50,345 36,437
Other operating expenses 1,682 617 1,185 2,790
Total operating expenses 202,811 182,062 399,800 364,199
Other expense (income):        
Interest expense, net 36,956 36,699 73,349 73,437
Gain on sale of real estate, net of tax (81) (4,291) (331) (106,239)
Net investment (income) loss (1,742) 5,468 (3,469) 7,962
Total other expense (income) 35,133 37,876 69,549 (24,840)
Income from operations before equity in income of investments in real estate partnerships 76,303 82,145 162,875 266,157
Equity in income of investments in real estate partnerships 11,869 23,842 23,785 36,646
Net income 88,172 105,987 186,660 302,803
Noncontrolling interests:        
Exchangeable operating partnership units (550) (452) (970) (1,315)
Limited partners' interests in consolidated partnerships (840) (739) (1,627) (1,464)
Income attributable to noncontrolling interests (1,390) (1,191) (2,597) (2,779)
Net income attributable to common shareholders $ 86,782 $ 104,796 $ 184,063 $ 300,024
Income per common share - basic $ 0.51 $ 0.61 $ 1.08 $ 1.75
Income per common share - diluted $ 0.51 $ 0.61 $ 1.07 $ 1.74
Partnership Interest [Member]        
Revenues:        
Lease income $ 304,458 $ 292,864 $ 613,259 $ 586,509
Other property income 2,683 2,720 5,821 5,824
Management, transaction, and other fees 7,106 6,499 13,144 13,183
Total revenues 314,247 302,083 632,224 605,516
Operating expenses:        
Depreciation and amortization 83,161 79,350 165,868 157,192
Property operating expense 54,394 47,750 105,416 94,211
Real estate taxes 38,509 36,700 76,986 73,569
General and administrative 25,065 17,645 50,345 36,437
Other operating expenses 1,682 617 1,185 2,790
Total operating expenses 202,811 182,062 399,800 364,199
Other expense (income):        
Interest expense, net 36,956 36,699 73,349 73,437
Gain on sale of real estate, net of tax (81) (4,291) (331) (106,239)
Net investment (income) loss (1,742) 5,468 (3,469) 7,962
Total other expense (income) 35,133 37,876 69,549 (24,840)
Income from operations before equity in income of investments in real estate partnerships 76,303 82,145 162,875 266,157
Equity in income of investments in real estate partnerships 11,869 23,842 23,785 36,646
Net income 88,172 105,987 186,660 302,803
Noncontrolling interests:        
Limited partners' interests in consolidated partnerships (840) (739) (1,627) (1,464)
Income attributable to noncontrolling interests (840) (739) (1,627) (1,464)
Net income attributable to common unit holders $ 87,332 $ 105,248 $ 185,033 $ 301,339
Income per common share - basic $ 0.51 $ 0.61 $ 1.08 $ 1.75
Income per common share - diluted $ 0.51 $ 0.61 $ 1.07 $ 1.74