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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Property rental $ 440,747 $ 408,044 $ 874,709 $ 787,852
Tenant reinsurance 48,433 46,427 96,137 90,224
Management fees and other income 22,206 20,517 43,590 40,474
Total revenues 511,386 474,988 1,014,436 918,550
Expenses:        
Property operations 114,637 104,252 231,803 207,794
Tenant reinsurance 9,482 7,537 18,571 14,579
Transaction related costs 0 1,465 0 1,465
General and administrative 34,842 31,251 69,605 61,013
Depreciation and amortization 79,086 69,067 157,576 136,973
Total expenses 238,047 213,572 477,555 421,824
Gain on real estate transactions 0 14,249 0 14,249
Income from operations 273,339 275,665 536,881 510,975
Interest expense (86,372) (47,466) (166,471) (90,004)
Interest income 21,077 15,060 40,515 34,049
Income before equity in earnings and dividend income from unconsolidated real estate entities and income tax expense 208,044 243,259 410,925 455,020
Equity in earnings and dividend income from unconsolidated real estate entities 13,254 10,190 23,559 19,287
Income tax expense (5,986) (5,615) (10,294) (8,756)
Net income 215,312 247,834 424,190 465,551
Net income allocated to Preferred Operating Partnership noncontrolling interests (2,254) (4,491) (4,508) (8,824)
Net income allocated to Operating Partnership and other noncontrolling interests (10,648) (11,213) (20,968) (21,018)
Net income attributable to common stockholders $ 202,410 $ 232,130 $ 398,714 $ 435,709
Earnings per common share        
Basic (in dollars per share) $ 1.50 $ 1.73 $ 2.96 $ 3.24
Diluted (in dollars per share) $ 1.50 $ 1.73 $ 2.95 $ 3.24
Weighted average number of shares        
Basic (in shares) 134,832,232 134,192,540 134,672,672 134,186,426
Diluted (in shares) 143,529,817 142,737,909 143,337,522 141,600,206
Cash dividends paid per common share (in dollars per share) $ 1.62 $ 1.50 $ 3.24 $ 3.00