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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Lease income $ 320,921 $ 295,756 $ 934,180 $ 882,265
Other property income 2,638 2,466 8,459 8,290
Management, transaction, and other fees 7,079 5,767 20,223 18,950
Total revenues 330,638 303,989 962,862 909,505
Operating expenses:        
Depreciation and amortization 87,505 80,270 253,373 237,462
Property operating expense 59,227 49,577 164,643 143,788
Real estate taxes 40,171 37,926 117,157 111,495
General and administrative 20,903 20,273 71,248 56,710
Other operating expenses 3,533 949 4,718 3,739
Total operating expenses 211,339 188,995 611,139 553,194
Other expense (income):        
Interest expense, net 38,807 36,361 112,156 109,798
Gain on sale of real estate, net of tax (184) (220) (515) (106,459)
Net investment loss (income) 1,020 1,215 (2,449) 9,177
Total other expense 39,643 37,356 109,192 12,516
Income from operations before equity in income of investments in real estate partnerships 79,656 77,638 242,531 343,795
Equity in income of investments in real estate partnerships 12,517 11,209 36,302 47,855
Net income 92,173 88,847 278,833 391,650
Noncontrolling interests:        
Exchangeable operating partnership units (520) (379) (1,490) (1,694)
Limited partners' interests in consolidated partnerships (933) (890) (2,560) (2,354)
Income attributable to noncontrolling interests (1,453) (1,269) (4,050) (4,048)
Net income attributable to the Company/ Partnership 90,720 87,578 274,783 387,602
Preferred stock dividends (1,644)   (1,644)  
Net income attributable to common shareholders $ 89,076 $ 87,578 $ 273,139 $ 387,602
Income per common share - basic $ 0.50 $ 0.51 $ 1.58 $ 2.26
Income per common share - diluted $ 0.5 $ 0.51 $ 1.57 $ 2.26
Partnership Interest [Member]        
Revenues:        
Lease income $ 320,921 $ 295,756 $ 934,180 $ 882,265
Other property income 2,638 2,466 8,459 8,290
Management, transaction, and other fees 7,079 5,767 20,223 18,950
Total revenues 330,638 303,989 962,862 909,505
Operating expenses:        
Depreciation and amortization 87,505 80,270 253,373 237,462
Property operating expense 59,227 49,577 164,643 143,788
Real estate taxes 40,171 37,926 117,157 111,495
General and administrative 20,903 20,273 71,248 56,710
Other operating expenses 3,533 949 4,718 3,739
Total operating expenses 211,339 188,995 611,139 553,194
Other expense (income):        
Interest expense, net 38,807 36,361 112,156 109,798
Gain on sale of real estate, net of tax (184) (220) (515) (106,459)
Net investment loss (income) 1,020 1,215 (2,449) 9,177
Total other expense 39,643 37,356 109,192 (12,516)
Income from operations before equity in income of investments in real estate partnerships 79,656 77,638 242,531 343,795
Equity in income of investments in real estate partnerships 12,517 11,209 36,302 47,855
Net income 92,173 88,847 278,833 391,650
Noncontrolling interests:        
Limited partners' interests in consolidated partnerships (933) (890) (2,560) (2,354)
Income attributable to noncontrolling interests (933) (890) (2,560) (2,354)
Net income attributable to the Company/ Partnership 91,240 87,957 276,273 389,296
Preferred unit distributions 1,644   1,644  
Net income attributable to common unit holders $ 89,596 $ 87,957 $ 274,629 $ 389,296
Income per common share - basic $ 0.50 $ 0.51 $ 1.58 $ 2.26
Income per common share - diluted $ 0.50 $ 0.51 $ 1.57 $ 2.26