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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues:    
Lease income $ 293,645 $ 266,357
Other property income 3,104 1,953
Management, transaction, and other fees 6,684 6,393
Total revenues 303,433 274,703
Operating expenses:    
Depreciation and amortization 77,842 77,259
Operating and maintenance 46,461 45,582
General and administrative 18,792 21,287
Real estate taxes 36,869 36,166
Other operating expenses 2,173 698
Total operating expenses 182,137 180,992
Other expense (income):    
Interest expense, net 36,738 36,936
Gain on sale of real estate, net of tax (101,948) (11,698)
Net investment loss (income) 2,494 (1,486)
Total other (income) expense (62,716) 23,752
Income from operations before equity in income of investments in real estate partnerships 184,012 69,959
Equity in income of investments in real estate partnerships 12,804 11,666
Net income 196,816 81,625
Noncontrolling interests:    
Exchangeable operating partnership units (863) (364)
Limited partners’ interests in consolidated partnerships (725) (605)
Income attributable to noncontrolling interests (1,588) (969)
Net income attributable to common stockholders $ 195,228 $ 80,656
Income per common share - basic $ 1.14 $ 0.48
Income per common share - diluted $ 1.14 $ 0.47
Partnership Interest [Member]    
Revenues:    
Lease income $ 293,645 $ 266,357
Other property income 3,104 1,953
Management, transaction, and other fees 6,684 6,393
Total revenues 303,433 274,703
Operating expenses:    
Depreciation and amortization 77,842 77,259
Operating and maintenance 46,461 45,582
General and administrative 18,792 21,287
Real estate taxes 36,869 36,166
Other operating expenses 2,173 698
Total operating expenses 182,137 180,992
Other expense (income):    
Interest expense, net 36,738 36,936
Gain on sale of real estate, net of tax (101,948) (11,698)
Net investment loss (income) 2,494 (1,486)
Total other (income) expense (62,716) (23,752)
Income from operations before equity in income of investments in real estate partnerships 184,012 69,959
Equity in income of investments in real estate partnerships 12,804 11,666
Net income 196,816 81,625
Noncontrolling interests:    
Limited partners’ interests in consolidated partnerships (725) (605)
Income attributable to noncontrolling interests (725) (605)
Net income attributable to common unit holders $ 196,091 $ 81,020
Income per common share - basic $ 1.14 $ 0.48
Income per common share - diluted $ 1.14 $ 0.47