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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Property rental $ 290,917 $ 266,728 $ 841,504 $ 772,742
Tenant reinsurance 33,588 30,105 95,086 85,660
Management fees and other income 13,000 10,120 36,063 30,849
Total revenues 337,505 306,953 972,653 889,251
Expenses:        
Property operations 88,653 73,652 248,288 219,488
Tenant reinsurance 7,644 7,720 21,593 18,798
General and administrative 22,519 19,707 68,548 62,822
Depreciation and amortization 56,051 52,283 165,116 155,924
Total expenses 174,867 153,362 503,545 457,032
Gain on real estate transactions 0 30,807 1,205 30,807
Income from operations 162,638 184,398 470,313 463,026
Interest expense (46,908) (45,926) (141,716) (130,239)
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes (1,186) (1,140) (3,533) (3,525)
Interest income 2,799 1,371 5,905 3,997
Income before equity in earnings of unconsolidated real estate ventures and income tax expense 117,343 138,703 330,969 333,259
Equity in earnings of unconsolidated real estate ventures 2,704 3,622 8,455 10,648
Income tax expense (4,052) (2,638) (8,580) (6,077)
Net income 115,995 139,687 330,844 337,830
Net income allocated to Preferred Operating Partnership noncontrolling interests (3,088) (3,723) (9,379) (10,605)
Net income allocated to Operating Partnership and other noncontrolling interests (4,820) (5,546) (13,780) (13,398)
Net income attributable to common stockholders $ 108,087 $ 130,418 $ 307,685 $ 313,827
Earnings per common share        
Basic (in dollars per share) $ 0.84 $ 1.03 $ 2.40 $ 2.49
Diluted (in dollars per share) $ 0.83 $ 1.02 $ 2.37 $ 2.48
Weighted average number of shares        
Basic (in shares) 128,776,549 126,466,837 127,830,272 125,959,926
Diluted (in shares) 137,318,475 134,240,290 136,164,299 133,015,690
Cash dividends paid per common share (in dollars per share) $ 0.90 $ 0.86 $ 2.66 $ 2.50