XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Property rental $ 433,962 $ 379,808
Tenant reinsurance 47,704 43,797
Management fees and other income 21,384 19,957
Total revenues 503,050 443,562
Expenses:    
Property operations 117,166 103,542
Tenant reinsurance 9,089 7,042
General and administrative 34,763 29,762
Depreciation and amortization 78,490 67,906
Total expenses 239,508 208,252
Income from operations 263,542 235,310
Interest expense (80,099) (42,538)
Interest income 19,438 18,989
Income before equity in earnings and dividend income from unconsolidated real estate entities and income tax expense 202,881 211,761
Equity in earnings and dividend income from unconsolidated real estate entities 10,305 9,097
Income tax expense (4,308) (3,141)
Net income 208,878 217,717
Net income allocated to Preferred Operating Partnership noncontrolling interests (2,254) (4,333)
Net income allocated to Operating Partnership and other noncontrolling interests (10,320) (9,805)
Net income attributable to common stockholders $ 196,304 $ 203,579
Earnings per common share    
Basic (in dollars per share) $ 1.46 $ 1.52
Diluted (in dollars per share) $ 1.46 $ 1.51
Weighted average number of shares    
Basic (in shares) 134,511,273 134,180,175
Diluted (in shares) 142,940,384 141,581,862
Cash dividends paid per common share (in dollars per share) $ 1.62 $ 1.50