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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Property rental $ 408,044 $ 321,500 $ 787,852 $ 625,093
Tenant reinsurance 46,427 42,334 90,224 81,953
Management fees and other income 20,517 14,796 40,474 30,441
Total revenues 474,988 378,630 918,550 737,487
Expenses:        
Property operations 104,252 89,155 207,794 181,522
Tenant reinsurance 7,537 6,735 14,579 13,896
Transaction related costs 1,465 0 1,465 0
General and administrative 31,251 26,341 61,013 49,881
Depreciation and amortization 69,067 59,570 136,973 118,169
Total expenses 213,572 181,801 421,824 363,468
Gain on real estate transactions 14,249 0 14,249 63,883
Income from operations 275,665 196,829 510,975 437,902
Interest expense (47,466) (40,240) (90,004) (80,935)
Interest income 15,060 12,838 34,049 25,142
Income before equity in earnings and dividend income from unconsolidated real estate ventures and income tax expense 243,259 169,427 455,020 382,109
Equity in earnings and dividend income from unconsolidated real estate entities 10,190 8,322 19,287 15,278
Equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and purchase of joint venture partner's interest 0 6,251 0 6,251
Income tax expense (5,615) (5,421) (8,756) (9,558)
Net income 247,834 178,579 465,551 394,080
Net income allocated to Preferred Operating Partnership noncontrolling interests (4,491) (3,438) (8,824) (7,118)
Net income allocated to Operating Partnership and other noncontrolling interests (11,213) (7,193) (21,018) (16,016)
Net income attributable to common stockholders $ 232,130 $ 167,948 $ 435,709 $ 370,946
Earnings per common share        
Basic (in dollars per share) $ 1.73 $ 1.25 $ 3.24 $ 2.79
Diluted (in dollars per share) $ 1.73 $ 1.25 $ 3.24 $ 2.79
Weighted average number of shares        
Basic (in shares) 134,192,540 133,756,610 134,186,426 132,886,933
Diluted (in shares) 142,737,909 140,407,195 141,600,206 140,428,558
Cash dividends paid per common share (in dollars per share) $ 1.50 $ 1.00 $ 3.00 $ 2.00