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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Property rental $ 428,787 $ 351,355 $ 1,216,639 $ 976,448
Tenant reinsurance 47,869 44,258 138,093 126,211
Management fees and other income 22,246 16,879 62,720 47,320
Total revenues 498,902 412,492 1,417,452 1,149,979
Expenses:        
Property operations 114,577 92,794 322,371 274,316
Tenant reinsurance 10,770 7,509 25,349 21,405
Transaction related costs 0 0 1,465 0
General and administrative 32,275 24,395 93,288 74,276
Depreciation and amortization 71,423 61,516 208,396 179,685
Total expenses 229,045 186,214 650,869 549,682
Gain on real estate transactions 0 0 14,249 63,883
Income from operations 269,857 226,278 780,832 664,180
Interest expense (56,245) (39,670) (146,249) (120,605)
Interest income 18,125 11,729 52,174 36,871
Income before equity in earnings and dividend income from unconsolidated real estate ventures and income tax expense 231,737 198,337 686,757 580,446
Equity in earnings and dividend income from unconsolidated real estate entities 11,149 8,255 30,436 23,533
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 0 6,251
Income tax expense (6,760) (6,772) (15,516) (16,330)
Net income 236,126 199,820 701,677 593,900
Net income allocated to Preferred Operating Partnership noncontrolling interests (4,454) (3,529) (13,278) (10,647)
Net income allocated to Operating Partnership and other noncontrolling interests (10,953) (8,015) (31,971) (24,031)
Net income attributable to common stockholders $ 220,719 $ 188,276 $ 656,428 $ 559,222
Earnings per common share        
Basic (in dollars per share) $ 1.65 $ 1.41 $ 4.89 $ 4.19
Diluted (in dollars per share) $ 1.65 $ 1.40 $ 4.89 $ 4.19
Weighted average number of shares        
Basic (in shares) 133,913,652 133,809,750 134,094,490 133,197,903
Diluted (in shares) 141,504,215 140,425,269 141,567,845 139,854,881
Cash dividends paid per common share (in dollars per share) $ 1.50 $ 1.25 $ 4.50 $ 3.25