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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Property rental $ 240,796 $ 211,791 $ 472,289 $ 411,279
Tenant reinsurance 24,313 21,654 47,168 42,209
Management fees and other income 10,894 10,828 19,554 20,188
Total revenues 276,003 244,273 539,011 473,676
Expenses:        
Property operations 67,295 62,430 133,940 123,542
Tenant reinsurance 3,804 3,941 7,724 8,252
Acquisition related costs and other 0 3,138 0 7,191
General and administrative 21,865 20,512 40,673 43,914
Depreciation and amortization 46,632 43,950 96,064 86,847
Total expenses 139,596 133,971 278,401 269,746
Income from operations 136,407 110,302 260,610 203,930
Gain (loss) on real estate transactions, earnout from prior acquisition and impairment of real estate (6,019) 11,358 (6,019) 9,814
Interest expense (37,456) (32,802) (73,426) (64,161)
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes (1,290) (1,240) (2,559) (2,473)
Interest income 826 1,625 1,928 3,339
Interest income on note receivable from Preferred Operating Partnership unit holder 659 1,212 1,872 2,425
Income before equity in earnings of unconsolidated real estate ventures and income tax expense 93,127 90,455 182,406 152,874
Equity in earnings of unconsolidated real estate ventures 3,838 3,358 7,417 6,188
Equity in earnings of unconsolidated real estate ventures - gain on purchase of a joint venture partner's interest 0 0 0 26,923
Income tax expense (2,867) (3,773) (5,991) (6,538)
Net income 94,098 90,040 183,832 179,447
Net income allocated to Preferred Operating Partnership noncontrolling interests (3,430) (3,434) (7,381) (6,614)
Net income allocated to Operating Partnership and other noncontrolling interests (3,662) (3,562) (7,163) (7,197)
Net income attributable to common stockholders $ 87,006 $ 83,044 $ 169,288 $ 165,636
Earnings per common share        
Basic (in dollars per share) $ 0.69 $ 0.66 $ 1.34 $ 1.33
Diluted (in dollars per share) $ 0.69 $ 0.66 $ 1.33 $ 1.32
Weighted average number of shares        
Basic (in shares) 125,673,156 124,914,467 125,639,480 124,678,293
Diluted (in shares) 132,783,402 132,025,915 132,759,354 132,152,519
Cash dividends paid per common share (in dollars per share) $ 0.78 $ 0.78 $ 1.56 $ 1.37