Stockholders' Equity

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity 

The following is a summary of our stockholders’ equity capital accounts as of the dates indicated: 

	June 30, 2023	December 31, 2022
Preferred Stock, $1.00 par value:
Authorized shares	50,000,000	50,000,000
Issued shares	—	—
Outstanding shares	—	—
Common Stock, $1.00 par value:
Authorized shares	700,000,000	700,000,000
Issued shares	509,934,840	492,283,488
Outstanding shares	508,159,453	490,508,937

Common Stock In May 2023, we entered into an equity distribution agreement whereby we can offer and sell up to $2,532,139,425 aggregate amount of our common stock ("ATM Program"). The ATM Program also allows us to enter into forward sale agreements (none outstanding at June 30, 2023). As of June 30, 2023, we had $1,659,273,000 of remaining capacity under the ATM Program. During July 2023, we sold 10,532,714 shares of common stock under our ATM Program.

The following is a summary of our common stock issuances during the six months ended June 30, 2023 and 2022 (dollars in thousands, except shares and average price amounts): 

	Shares Issued	Average Price		Gross Proceeds		Net Proceeds
2022 Option exercises	299	$	66.89	$	20	$	20
2022 ATM Program issuances	15,986,251	86.26		1,379,002		1,357,541
2022 Stock incentive plans, net of forfeitures	143,210			—		—
2022 Totals	16,129,760			$	1,379,022	$	1,357,561
2023 Option exercises	1,708	$	63.65	$	109	$	109
2023 ATM Program issuances	17,435,154	76.90		1,340,727		1,333,799
2023 Redemption of OP Units and DownREIT Units	272,494			—		—
2023 Stock incentive plans, net of forfeitures	(58,840)			—		—
2023 Totals	17,650,516			$	1,340,836	$	1,333,908

Dividends The following is a summary of our dividend payments (in thousands, except per share amounts): 

	Six Months Ended
	June 30, 2023				June 30, 2022
	Per Share		Amount		Per Share		Amount
Common stock	$	1.22	$	602,601	$	1.22	$	551,283

Accumulated Other Comprehensive Income The following is a summary of accumulated other comprehensive income (loss) as of the dates presented (in thousands):

	June 30, 2023		December 31, 2022
Foreign currency translation	$	(935,582)	$	(1,115,317)
Derivative and financial instruments designated as hedges	839,988		995,610
Total accumulated other comprehensive income (loss)	$	(95,594)	$	(119,707)