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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 income $ 373,516 $ 372,787 $ 750,948 $ 747,032
Income from loans and investments 4,395 1,436 8,719 2,725
Interest and other income 5,871 4,825 8,949 11,605
Total revenues 1,420,893 1,200,980 2,778,967 2,400,894
Expenses        
Interest 150,298 149,259 299,654 299,192
Depreciation and amortization 347,719 339,848 669,244 640,103
Property-level operating expenses 825,269 680,151 1,609,153 1,367,648
Third-party capital management expenses     3,452 3,403
General, administrative and professional fees 42,856 37,727 96,005 86,464
Loss on extinguishment of debt, net 0 420 0 672
Transaction, transition and restructuring costs 4,627 2,886 10,609 7,563
Recovery of allowance on loans receivable and investments, net 0 (42) 0 (110)
Shareholder relations matters 0 37 0 15,751
Other expense 5,839 8,128 7,251 6,794
Total expenses 1,378,235 1,220,064 2,695,368 2,427,480
Income (loss) before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests 42,658 (19,084) 83,599 (26,586)
Loss from unconsolidated entities (1,138) (1,652) (4,449) (10,035)
Gain on real estate dispositions 33,816 49,670 33,985 50,011
Income tax expense (3,874) (7,766) 6,683 (4,762)
Net income 71,462 21,168 119,818 8,628
Net income attributable to noncontrolling interests 3,198 1,781 4,686 3,553
Net income attributable to common stockholders $ 68,264 $ 19,387 $ 115,132 $ 5,075
Basic:        
(Loss) income from continuing (in usd per share) $ 0.16 $ 0.05 $ 0.27 $ 0.02
Net (loss) income attributable to common stockholders (in usd per share) 0.15 0.05 0.26 0.01
Diluted:        
(Loss) income from continuing (in usd per share) 0.16 0.05 0.26 0.02
Net (loss) income attributable to common stockholders (in usd per share) $ 0.15 $ 0.05 $ 0.25 $ 0.01
NNN        
Revenues        
Rental income $ 152,702 $ 153,934 $ 308,815 $ 309,302
Expenses        
Property-level operating expenses 3,966 3,506 7,493 7,244
OM&R        
Revenues        
Rental income 220,814 218,853 442,133 437,730
Expenses        
Property-level operating expenses 75,001 73,286 150,958 147,224
Resident fees and services        
Revenues        
Other revenues 1,032,714 817,600 2,001,618 1,630,904
Senior housing        
Expenses        
Property-level operating expenses 746,302 603,359 1,450,702 1,213,180
Third-party capital management expenses        
Revenues        
Other revenues 4,397 4,332 8,733 8,628
Expenses        
Third-party capital management expenses $ 1,627 $ 1,650 $ 3,452 $ 3,403