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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues:    
Lease income $ 353,106 $ 308,801
Other property income 4,350 3,138
Management, transaction, and other fees 6,396 6,038
Total revenues 363,852 317,977
Operating expenses:    
Depreciation and amortization 97,585 82,707
Property operating expense 63,274 51,022
Real estate taxes 44,307 38,477
General and administrative 26,132 25,280
Other operating expenses (income) 2,643 (497)
Total operating expenses 233,941 196,989
Other expense, net:    
Interest expense, net 42,868 36,393
Gain on sale of real estate, net of tax (11,403) (250)
Loss on early extinguishment of debt 180  
Net investment income (2,431) (1,727)
Total other expense, net 29,214 34,416
Income before equity in income of investments in real estate partnerships 100,697 86,572
Equity in income of investments in real estate partnerships 11,961 11,916
Net income 112,658 98,488
Noncontrolling interests:    
Exchangeable operating partnership units (642) (420)
Limited partners' interests in consolidated partnerships (2,242) (787)
Net income attributable to noncontrolling interests (2,884) (1,207)
Net income attributable to the Company/ Partnership 109,774 97,281
Preferred stock dividends (3,413)  
Net income attributable to common shareholders $ 106,361 $ 97,281
Net income per common share - basic $ 0.58 $ 0.57
Net income per common share - diluted $ 0.58 $ 0.57
Partnership Interest [Member]    
Revenues:    
Lease income $ 353,106 $ 308,801
Other property income 4,350 3,138
Management, transaction, and other fees 6,396 6,038
Total revenues 363,852 317,977
Operating expenses:    
Depreciation and amortization 97,585 82,707
Property operating expense 63,274 51,022
Real estate taxes 44,307 38,477
General and administrative 26,132 25,280
Other operating expenses (income) 2,643 (497)
Total operating expenses 233,941 196,989
Other expense, net:    
Interest expense, net 42,868 36,393
Gain on sale of real estate, net of tax (11,403) (250)
Loss on early extinguishment of debt 180  
Net investment income (2,431) (1,727)
Total other expense, net 29,214 34,416
Income before equity in income of investments in real estate partnerships 100,697 86,572
Equity in income of investments in real estate partnerships 11,961 11,916
Net income 112,658 98,488
Noncontrolling interests:    
Limited partners' interests in consolidated partnerships (2,242) (787)
Net income attributable to noncontrolling interests (2,242) (787)
Net income attributable to the Company/ Partnership 110,416 97,701
Preferred unit distributions (3,413)  
Net income attributable to common unit holders $ 107,003 $ 97,701
Net income per common unit - basic $ 0.58 $ 0.57
Net income per common unit - diluted $ 0.58 $ 0.57