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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues    
Rental income $ 377,432 $ 374,245
Income from loans and investments 4,324 1,289
Interest and other income 3,078 6,780
Total revenues 1,358,074 1,199,914
Expenses    
Interest 149,356 149,933
Depreciation and amortization 321,525 300,255
Property-level operating expenses 783,884 687,497
General, administrative and professional fees 53,149 48,737
Loss on extinguishment of debt, net 0 252
Transaction, transition and restructuring costs 5,982 4,677
Recovery of allowance on loans receivable and investments, net 0 (68)
Shareholder relations matters 0 15,714
Other expense (income) 1,412 (1,334)
Total expenses 1,317,133 1,207,416
Income (loss) before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests 40,941 (7,502)
Loss from unconsolidated entities (3,311) (8,383)
Gain on real estate dispositions 169 341
Income tax benefit 10,557 3,004
Net income (loss) 48,356 (12,540)
Net income attributable to noncontrolling interests 1,488 1,772
Net income attributable to common stockholders $ 46,868 $ (14,312)
Basic:    
(Loss) income from continuing (in usd per share) $ 0.11 $ (0.03)
Net (loss) income attributable to common stockholders (in usd per share) 0.11 (0.04)
Diluted:    
(Loss) income from continuing (in usd per share) [1] 0.11 (0.03)
Net (loss) income attributable to common stockholders (in usd per share) [1] $ 0.10 $ (0.04)
NNN    
Revenues    
Rental income $ 156,113 $ 155,368
Expenses    
Property-level operating expenses 3,527 3,738
OM&R    
Revenues    
Rental income 221,319 218,877
Expenses    
Property-level operating expenses 75,957 73,938
Resident fees and services    
Revenues    
Other revenues 968,904 813,304
Senior housing    
Expenses    
Property-level operating expenses 704,400 609,821
Third-party capital management expenses    
Revenues    
Other revenues 4,336 4,296
Expenses    
Third-party capital management expenses $ 1,825 $ 1,753
[1] Potential common shares are not included in the computation of diluted earnings per share (“EPS”) when a net loss exists as the effect would be an antidilutive per share amount.