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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Rental and related revenues $ 528,093 $ 515,373 $ 440,198
Interest income on real estate loans and other 15,370 11,262 17,501
Total revenues 543,463 526,635 457,699
Expenses:      
Interest expense 81,351 72,234 60,136
General and administrative 38,756 40,209 37,757
Operating expenses 182,661 171,100 137,408
Depreciation and amortization 191,091 189,641 157,870
Merger and transaction-related expense [1] 6,934 0  
Impairment loss 0 0 340
Total expenses 500,793 473,184 393,511
Income before equity in income (loss) of unconsolidated entities and gain on sale of investment properties, net: 42,670 53,451 64,188
Equity in income (loss) of unconsolidated entities 1,084 (790) (1,570)
Gain on sale of investment properties, net 13 57,375 24,165
Net income 43,767 110,036 86,783
Net income attributable to noncontrolling interests:      
Operating Partnership (1,722) (5,240) (2,211)
Partially owned properties [2] (169) (430) (607)
Net income attributable to controlling interest 41,876 104,366 83,965
Preferred distributions 0 0 (13)
Net income attributable to common shareholders $ 41,876 $ 104,366 $ 83,952
Net income per share:      
Basic (in dollars per share) $ 0.18 $ 0.46 $ 0.39
Diluted (in dollars per share) $ 0.17 $ 0.46 $ 0.39
Weighted average common shares:      
Basic (in shares) 238,216,847 226,598,474 216,135,385
Diluted (in shares) 249,344,713 239,610,285 223,060,556
Dividends and distributions declared per common share (in dollars per share) $ 0.92 $ 0.92 $ 0.92
[1] During the year ended December 31, 2023, the Company recorded merger and transaction-related expense of $6.9 million related to the proposed merger with Healthpeak, which are primarily comprised of legal, accounting, tax, and other costs incurred prior to year-end.
[2] Includes amounts attributable to redeemable noncontrolling interests.