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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Rental and related revenues (Note 6) $ 99,823 $ 99,096 $ 195,860 $ 190,872
Resident fees and services 78,985 67,939 156,432 133,970
Interest and other income 10,342 9,106 20,401 18,046
Total revenues 189,150 176,141 372,693 342,888
Expenses:        
Depreciation and amortization 43,586 41,681 87,080 84,595
Interest 27,548 29,314 54,648 57,722
General and administrative 12,514 12,741 25,242 24,631
Recovery of loan losses (227) (161) (400) (298)
Impairment of real estate 4,103 15,335 4,103 18,472
Total expenses 148,626 153,663 291,708 293,868
Other income 14,709 78 14,747 838
Net gain on sales of real estate 9,974 1,776 9,974 1,776
Total other income 24,683 1,854 24,721 2,614
Income before income (loss) from unconsolidated joint ventures and income tax expense 65,207 24,332 105,706 51,634
Income (loss) from unconsolidated joint ventures 832 80 1,050 (515)
Income tax expense (497) (437) (910) (890)
Net income $ 65,542 $ 23,975 $ 105,846 $ 50,229
Net income, per:        
Basic common share (in dollars per share) $ 0.28 $ 0.10 $ 0.44 $ 0.22
Diluted common share (in dollars per share) $ 0.27 $ 0.10 $ 0.44 $ 0.22
Weighted average number of common shares outstanding, basic (in shares) 237,976,314 231,620,291 237,933,910 231,536,286
Weighted average number of common shares outstanding, diluted (in shares) 240,929,866 233,750,823 240,711,387 233,583,871
Triple-net portfolio        
Expenses:        
Operating expenses $ 3,698 $ 4,398 $ 7,177 $ 8,722
Senior housing - managed        
Expenses:        
Operating expenses $ 57,404 $ 50,355 $ 113,858 $ 100,024