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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Rents and other single-family property revenues $ 421,697     $ 391,627     $ 1,214,948 $ 1,109,608
Expenses:                
General and administrative expense 18,336     16,986     56,128 53,115
Interest expense 34,381     36,254     105,107 98,622
Acquisition and other transaction costs 3,399     4,482     12,650 18,114
Depreciation and amortization 114,863     109,319     340,779 313,688
Hurricane-related charges, net 0     6,133     0 6,133
Total expenses 368,805     354,978     1,063,577 989,191
Gain on sale and impairment of single-family properties and other, net 33,335     24,197     180,752 79,052
Other income and expense, net 1,865     819     9,082 6,765
Net income 88,092 $ 115,414 $ 137,699 61,665 $ 74,555 $ 70,014 341,205 206,234
Noncontrolling interest 10,493     7,464     41,140 24,119
Dividends on preferred shares 3,486 $ 3,486 $ 3,486 3,486 $ 4,346 $ 5,763 10,458 13,595
Redemption of perpetual preferred shares 0     0     0 5,276
Net income attributable to common shareholders/unitholders $ 74,113     $ 50,715     $ 289,607 $ 163,244
Weighted-average common shares outstanding:                
Basic (in shares) 362,426,273     348,944,055     361,665,436 347,730,579
Diluted (in shares) 362,924,932     349,344,541     362,121,128 348,282,995
Net income attributable to common shareholders per share:                
Basic (in dollars per share) $ 0.20     $ 0.14     $ 0.80 $ 0.47
Diluted (in dollars per share) $ 0.20     $ 0.14     $ 0.80 $ 0.47
Property operating expenses                
Expenses:                
Cost of goods and services sold $ 167,041     $ 152,065     $ 456,662 $ 414,978
Property management expenses                
Expenses:                
Cost of goods and services sold $ 30,785     $ 29,739     $ 92,251 $ 84,541