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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Property rental $ 351,355 $ 290,423 $ 976,448 $ 856,438
Tenant reinsurance 44,258 39,294 126,211 107,985
Management fees and other income 16,879 13,307 47,320 38,299
Total revenues 412,492 343,024 1,149,979 1,002,722
Expenses:        
Property operations 92,794 92,322 274,316 271,659
Tenant reinsurance 7,509 7,189 21,405 20,725
General and administrative 24,395 23,894 74,276 72,242
Depreciation and amortization 61,516 56,412 179,685 167,705
Total expenses 186,214 179,817 549,682 532,331
Gain on real estate transactions 0 0 63,883 0
Income from operations 226,278 163,207 664,180 470,391
Interest expense (39,670) (42,213) (120,605) (127,610)
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes 0 (1,233) 0 (3,675)
Interest income 11,729 3,145 36,871 6,488
Income before equity in earnings and dividend income from unconsolidated real estate ventures and income tax expense 198,337 122,906 580,446 345,594
Equity in earnings and dividend income from unconsolidated real estate entities 8,255 5,605 23,533 15,692
Equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and purchase of joint venture partner's interest 0 0 6,251 0
Income tax expense (6,772) (4,657) (16,330) (10,013)
Net income 199,820 123,854 593,900 351,273
Net income allocated to Preferred Operating Partnership noncontrolling interests (3,529) (3,248) (10,647) (9,498)
Net income allocated to Operating Partnership and other noncontrolling interests (8,015) (5,973) (24,031) (16,052)
Net income attributable to common stockholders $ 188,276 $ 114,633 $ 559,222 $ 325,723
Earnings per common share        
Basic (in dollars per share) $ 1.41 $ 0.89 $ 4.19 $ 2.52
Diluted (in dollars per share) $ 1.40 $ 0.88 $ 4.19 $ 2.50
Weighted average number of shares        
Basic (in shares) 133,809,750 128,862,341 133,197,903 129,044,954
Diluted (in shares) 140,425,269 129,871,096 139,854,881 130,066,121
Cash dividends paid per common share (in dollars per share) $ 1.25 $ 0.90 $ 3.25 $ 2.70