CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Real estate:
Land and improvements	$ 4,299,162	$ 4,077,090
Buildings and improvements	16,668,496	15,651,035
Furniture, fixtures and equipment	829,242	696,200
Total capitalized cost	21,796,900	20,424,325
Less accumulated depreciation	(5,164,398)	(4,601,447)
Net operating real estate	16,632,502	15,822,878
Construction in progress, including land	1,303,751	1,768,132
Land held for development	0	84,712
Inventory, Real Estate	457,809	0
Gross real estate assets held for sale	38,927	55,208
Total real estate, net	18,432,989	17,730,930
Cash and cash equivalents	39,687	91,659
Cash in escrow	87,927	126,205
Resident security deposits	34,224	31,816
Investments in unconsolidated real estate entities	165,806	217,432
Deferred development costs	70,486	47,443
Right of use lease assets	164,971	134,715
Lease, Right-Of-Use Asset	124,961
Total assets	19,121,051	18,380,200
LIABILITIES AND EQUITY
Unsecured notes, net	6,358,648	5,905,993
Variable rate unsecured credit facility	0	0
Mortgage notes payable, net	937,642	1,134,270
Dividends payable	215,414	204,191
Payables for construction	92,135	96,983
Accrued expenses and other liabilities	274,013	297,700
Lease, Liability	140,468
Accrued interest payable	47,154	46,648
Resident security deposits	61,752	58,415
Liabilities related to real estate assets held for sale	375	150
Total liabilities	8,127,601	7,744,350
Commitments and contingencies
Redeemable noncontrolling interests	3,252	3,244
Equity:
Preferred stock, $0.01 par value; $25 liquidation preference; 50,000,000 shares authorized at December 31, 2019 and December 31, 2018; zero shares issued and outstanding at December 31, 2019 and December 31, 2018	0	0
Common stock, $0.01 par value; 280,000,000 shares authorized at December 31, 2019 and December 31, 2018; 140,643,962 and 138,508,424 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively	1,406	1,385
Additional paid-in capital	10,736,733	10,306,588
Accumulated earnings less dividends	282,913	350,777
Accumulated other comprehensive loss	(31,503)	(26,144)
Stockholders' Equity Attributable to Parent	10,989,549	10,632,606
Stockholders' Equity Attributable to Noncontrolling Interest	649	0
Total equity	10,990,198	10,632,606
Total liabilities and equity	$ 19,121,051	$ 18,380,200