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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:      
Property rental $ 864,742 $ 676,138 $ 559,868
Tenant reinsurance 87,291 71,971 59,072
Management fees and other income 39,842 34,161 28,215
Total revenues 991,875 782,270 647,155
Expenses:      
Property operations 250,005 203,965 172,416
Tenant reinsurance 15,555 13,033 10,427
Acquisition related costs and other 12,111 69,401 9,826
General and administrative 81,806 67,758 60,942
Depreciation and amortization 182,560 133,457 115,076
Total expenses 542,037 487,614 368,687
Income from operations 449,838 294,656 278,468
Gain (loss) on real estate transactions, earnout from prior acquisition and sale of other assets 8,465 1,501 (10,285)
Property casualty loss, net 0 0 (1,724)
Interest expense (133,479) (95,682) (81,330)
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes (4,980) (3,310) (2,683)
Interest income 6,148 3,461 1,607
Interest income on note receivable from Preferred Operating Partnership unit holder 4,850 4,850 4,850
Income before equity in earnings of unconsolidated real estate ventures and income tax expense 330,842 205,476 188,903
Equity in earnings of unconsolidated real estate ventures 12,895 12,351 10,541
Equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and purchase of joint venture partners' interests 69,199 2,857 4,022
Income tax expense (15,847) (11,148) (7,570)
Net income 397,089 209,536 195,896
Net income allocated to Preferred Operating Partnership noncontrolling interests (14,700) (11,718) (10,991)
Net income allocated to Operating Partnership and other noncontrolling interests (16,262) (8,344) (6,550)
Net income attributable to common stockholders $ 366,127 $ 189,474 $ 178,355
Earnings per common share      
Basic (in dollars per share) $ 2.92 $ 1.58 $ 1.54
Diluted (in dollars per share) $ 2.91 $ 1.56 $ 1.53
Weighted average number of shares      
Basic (in shares) 125,087,554 119,816,743 115,713,807
Diluted (in shares) 125,948,076 126,918,869 121,435,267