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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Property rental $ 211,791 $ 161,024 $ 411,279 $ 309,918
Tenant reinsurance 21,654 17,340 42,209 33,850
Management fees and other income 10,828 7,496 20,188 15,246
Total revenues 244,273 185,860 473,676 359,014
Expenses:        
Property operations 62,430 48,209 123,542 95,453
Tenant reinsurance 3,941 3,283 8,252 6,211
Acquisition related costs and other 3,138 4,554 7,191 5,423
General and administrative 20,512 16,655 43,914 32,904
Depreciation and amortization 43,950 31,552 86,847 61,980
Total expenses 133,971 104,253 269,746 201,971
Income from operations 110,302 81,607 203,930 157,043
Gain on real estate transactions and earnout from prior acquisition 11,358 400 9,814 400
Interest expense (32,802) (22,811) (64,161) (44,242)
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes (1,240) (696) (2,473) (1,393)
Interest income 1,625 428 3,339 1,284
Interest income on note receivable from Preferred Operating Partnership unit holder 1,212 1,212 2,425 2,425
Income before equity in earnings of unconsolidated real estate ventures and income tax expense 90,455 60,140 152,874 115,517
Equity in earnings of unconsolidated real estate ventures 3,358 3,001 6,188 5,651
Equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and purchase of joint venture partners' interests 0 0 26,923 2,857
Income tax expense (3,773) (2,185) (6,538) (4,433)
Net income 90,040 60,956 179,447 119,592
Net income allocated to Preferred Operating Partnership noncontrolling interests (3,434) (3,007) (6,614) (5,933)
Net income allocated to Operating Partnership and other noncontrolling interests (3,562) (2,610) (7,197) (4,578)
Net income attributable to common stockholders $ 83,044 $ 55,339 $ 165,636 $ 109,081
Earnings per common share        
Basic (in dollars per share) $ 0.66 $ 0.47 $ 1.33 $ 0.93
Diluted (in dollars per share) $ 0.66 $ 0.47 $ 1.32 $ 0.92
Weighted average number of shares        
Basic (in shares) 124,914,467 116,861,678 124,678,293 116,491,710
Diluted (in shares) 132,025,915 124,475,890 132,152,519 123,477,241
Cash dividends paid per common share (in dollars per share) $ 0.78 $ 0.59 $ 1.37 $ 1.06