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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Property rental $ 224,451 $ 170,548 $ 635,730 $ 480,466
Tenant reinsurance 22,727 18,226 64,936 52,076
Management fees and other income 10,005 8,723 30,193 23,969
Total revenues 257,183 197,497 730,859 556,511
Expenses:        
Property operations 62,341 48,878 185,883 144,331
Tenant reinsurance 4,093 3,608 12,345 9,819
Acquisition related costs and other 1,933 280 9,124 5,703
General and administrative 19,537 16,716 63,451 49,620
Depreciation and amortization 46,555 30,711 133,402 92,691
Total expenses 134,459 100,193 404,205 302,164
Income from operations 122,724 97,304 326,654 254,347
Gain on real estate transactions and earnout from prior acquisition 0 1,101 9,814 1,501
Interest expense (33,494) (20,811) (97,655) (65,053)
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes (1,243) (805) (3,716) (2,198)
Interest income 1,358 356 4,697 1,640
Interest income on note receivable from Preferred Operating Partnership unit holder 1,213 1,213 3,638 3,638
Income before equity in earnings of unconsolidated real estate ventures and income tax expense 90,558 78,358 243,432 193,875
Equity in earnings of unconsolidated real estate ventures 3,625 3,403 9,813 9,054
Equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and purchase of joint venture partners' interests 37,509 0 64,432 2,857
Income tax expense (4,466) (3,561) (11,004) (7,994)
Net income 127,226 78,200 306,673 197,792
Net income allocated to Preferred Operating Partnership noncontrolling interests (4,144) (3,112) (10,758) (9,045)
Net income allocated to Operating Partnership and other noncontrolling interests (4,994) (3,370) (12,191) (7,948)
Net income attributable to common stockholders $ 118,088 $ 71,718 $ 283,724 $ 180,799
Earnings per common share        
Basic (in dollars per share) $ 0.94 $ 0.58 $ 2.26 $ 1.52
Diluted (in dollars per share) $ 0.93 $ 0.58 $ 2.24 $ 1.51
Weighted average number of shares        
Basic (in shares) 125,752,291 122,644,837 125,244,761 118,564,872
Diluted (in shares) 133,763,472 130,398,111 132,476,691 125,406,313
Cash dividends paid per common share (in dollars per share) $ 0.78 $ 0.59 $ 2.15 $ 1.65