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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Rental income $ 372,787 $ 370,162 $ 747,032 $ 722,905
Income from loans and investments 1,436 6,554 2,725 20,143
Interest and other income 4,825 1,032 11,605 2,775
Total revenues 1,200,980 1,106,358 2,400,894 2,183,603
Expenses        
Interest 149,259 143,265 299,192 271,340
Depreciation and amortization 339,848 304,689 640,103 586,808
Property-level operating expenses 680,151 622,818 1,367,648 1,230,749
Third party capital management expenses     3,403 3,142
General, administrative and professional fees 37,727 34,399 86,464 79,197
Loss (gain) on extinguishment of debt, net 420 (6,801) 672 (6,801)
Transaction, transition and restructuring costs 2,886 3,069 7,563 4,455
Allowance on loans receivable and investments, net (42) (12,065) (110) (20,129)
Gain on foreclosure of real estate 0 (29,127) 0 (29,127)
Shareholder relations matters 37 0 15,751 0
Other expense (income) 8,128 (17,959) 6,794 (10,197)
Total expenses 1,220,064 1,043,724 2,427,480 2,109,437
(Loss) income before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests (19,084) 62,634 (26,586) 74,166
Loss from unconsolidated entities (1,652) 31,254 (10,035) 25,631
Gain on real estate dispositions 49,670 1,405 50,011 11,606
Income tax expense (7,766) 9,773 (4,762) 12,575
Income from continuing operations 21,168 105,066 8,628 123,978
Net income 21,168 105,066 8,628 123,978
Net income attributable to noncontrolling interests 1,781 1,613 3,553 3,008
Net income attributable to common stockholders $ 19,387 $ 103,453 $ 5,075 $ 120,970
Basic:        
(Loss) income from continuing (in usd per share) $ 0.05 $ 0.26 $ 0.02 $ 0.31
Net (loss) income attributable to common stockholders (in usd per share) 0.05 0.26 0.01 0.30
Diluted:        
(Loss) income from continuing (in usd per share) [1] 0.05 0.26 0.02 0.31
Net (loss) income attributable to common stockholders (in usd per share) [1] $ 0.05 $ 0.26 $ 0.01 $ 0.30
Triple-Net Leased Properties        
Revenues        
Rental income $ 153,934 $ 154,355 $ 309,302 $ 304,094
Expenses        
Property-level operating expenses 3,506 3,537 7,244 7,333
Outpatient Medical and Research Portfolio        
Revenues        
Rental income 218,853 215,807 437,730 418,811
Expenses        
Property-level operating expenses 73,286 72,171 147,224 139,084
Resident fees and services        
Revenues        
Other revenues 817,600 724,614 1,630,904 1,429,607
Senior housing        
Expenses        
Property-level operating expenses 603,359 547,110 1,213,180 1,084,332
Third party capital management expenses        
Revenues        
Other revenues 4,332 3,996 8,628 8,173
Expenses        
Third party capital management expenses $ 1,650 $ 1,436 $ 3,403 $ 3,142
[1] Potential common shares are not included in the computation of diluted earnings per share (“EPS”) when a loss from continuing operations exists as the effect would be an antidilutive per share amount.