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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Property rental $ 721,004 $ 697,100 $ 1,425,384 $ 1,385,144
Tenant reinsurance 88,572 83,705 173,284 165,052
Management fees and other income 32,042 29,858 62,947 60,006
Total revenues 841,618 810,663 1,661,615 1,610,202
Expenses:        
Property operations 227,621 196,902 451,203 401,420
Tenant reinsurance 16,945 19,631 34,061 38,136
General and administrative 44,952 39,901 90,926 83,623
Depreciation and amortization 177,266 194,809 357,622 391,775
Total expenses 466,784 451,243 933,812 914,954
Gain (loss) on real estate assets held for sale and sold, net (864) (54,659) 34,897 (54,659)
Income from operations 373,970 304,761 762,700 640,589
Interest expense (146,128) (137,133) (288,527) (270,020)
Non-cash interest expense related to amortization of discount on unsecured senior notes, net (11,770) (10,853) (23,083) (21,558)
Interest income 41,998 31,226 80,965 54,799
Income before equity in earnings and dividend income from unconsolidated real estate entities and income tax expense 258,070 188,001 532,055 403,810
Equity in earnings and dividend income from unconsolidated real estate entities 16,284 17,255 36,215 32,262
Income tax expense (11,638) (9,844) (20,629) (16,586)
Net income 262,716 195,412 547,641 419,486
Net income allocated to Preferred Operating Partnership noncontrolling interests (723) (1,933) (1,447) (4,141)
Net income allocated to Operating Partnership and other noncontrolling interests (12,262) (7,607) (25,588) (16,361)
Net income attributable to common stockholders $ 249,731 $ 185,872 $ 520,606 $ 398,984
Earnings per common share        
Basic (in dollars per share) $ 1.18 $ 0.88 $ 2.45 $ 1.88
Diluted (in dollars per share) $ 1.18 $ 0.88 $ 2.45 $ 1.88
Weighted average number of shares        
Basic (in shares) 211,940,903 211,584,155 211,895,586 211,433,877
Diluted (in shares) 211,940,903 211,587,105 211,895,586 220,114,016
Cash dividends paid per common share (in dollars per share) $ 1.62 $ 1.62 $ 3.24 $ 3.24