CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Operating Activities
Net income/(loss)	$ 403,715	$ 95,877	$ 474,488
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Depreciation and amortization	680,035	695,473	691,838
(Gain)/loss on sale of real estate owned	(242,913)	(16,867)	(351,193)
(Income)/loss from unconsolidated entities	(28,388)	(20,235)	(4,693)
Return on investment in unconsolidated joint ventures and partnerships	53,918	61,315	15,944
Amortization of share-based compensation	26,484	32,625	32,896
Provision/(recovery) for credit losses	(213)	37,456	702
Other	32,509	27,107	9,089
Changes in operating assets and liabilities:
(Increase)/decrease in operating assets	(8,372)	(31,144)	(33,579)
Increase/(decrease) in operating liabilities	(13,888)	(4,759)	(2,828)
Net cash provided by/(used in) operating activities	902,887	876,848	832,664
Investing Activities
Acquisition of real estate assets	(147,171)		(17,848)
Proceeds from sales of real estate investments, net	373,545	98,650	325,767
Development of real estate assets	(43,695)	(67,532)	(155,875)
Capital expenditures and other major improvements - real estate assets	(252,857)	(249,886)	(295,440)
Capital expenditures - non-real estate assets	(36,084)	(21,801)	(16,907)
Investment in unconsolidated joint ventures and partnerships	(83,031)	(50,335)	(71,395)
Distributions received from unconsolidated joint ventures and partnerships	150,303	41,097	14,399
Proceeds from sale of equity securities		4,624	14,471
Purchase deposits on pending acquisitions		1,000	(1,000)
Repayment/(issuance) of notes receivable, net	(112,000)	(32,168)	(85,310)
Net cash provided by/(used in) investing activities	(150,990)	(276,351)	(289,138)
Financing Activities
Payments on secured debt	(178,323)	(137,971)	(1,244)
Payments on unsecured debt		(15,644)
Net proceeds from the issuance of unsecured debt		296,929
Net proceeds/(repayment) of commercial paper	155,100	(118,175)	108,075
Net proceeds/(repayment) of revolving bank debt	17,020	4,768	(23,425)
Repurchase of common shares	(117,811)		(25,009)
Distributions paid to redeemable noncontrolling interests	(39,702)	(42,798)	(35,582)
Distributions paid to preferred stockholders	(4,830)	(4,851)	(4,770)
Distributions paid to common stockholders	(567,864)	(558,482)	(539,852)
Other	(13,982)	(23,712)	(17,047)
Net cash provided by/(used in) financing activities	(750,392)	(599,936)	(538,854)
Net increase/(decrease) in cash, cash equivalents, and restricted cash	1,505	561	4,672
Cash, cash equivalents, and restricted cash, beginning of year	35,427	34,866	30,194
Cash, cash equivalents, and restricted cash, end of period	36,932	35,427	34,866
Supplemental Information:
Interest paid during the period, net of amounts capitalized	190,511	192,101	184,201
Operating cash flows from operating leases	12,608	12,502	12,502
Cash paid/(refunds received) for income taxes	1,373	1,044	1,911
Non-cash transactions:
Secured debt assumed upon acquisition of real estate assets			191,737
OP Units issued for real estate, net			141,359
Notes receivable settled in exchange for real estate owned	180,700
Conversion of note receivable to equity securities	42,807
Development costs and capital expenditures incurred, but not yet paid	28,924	15,188	39,080
Conversion of Operating Partnership and DownREIT Partnership noncontrolling interests to common stock (382,991 shares; 1,703,570 shares; and 470,800 shares)	15,804	73,196	18,794
Distribution of equity securities from unconsolidated real estate technology investments			7,749
Right-of-use assets obtained in exchange for operating lease liabilities remeasurement	4,422
Contribution of operating properties to unconsolidated joint venture	60,355		258,056
Transfer of preferred equity investment to note receivable			73,453
Dividends declared, but not yet paid	$ 151,934	$ 151,720	$ 149,600