Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2025

Equity [Abstract]

Summary of Stockholders' Equity Capital Accounts

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

	September 30, 2025	December 31, 2024
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	1,400,000,000	1,400,000,000
Issued shares	684,240,531	637,056,054
Outstanding shares	684,108,350	635,289,329

The following is a summary of our common stock issuances during the nine months ended September 30, 2025 and 2024 (in thousands, except shares and average price amounts): 

	Shares Issued	Average Price		Gross Proceeds		Net Proceeds
2024 Option exercises	16,578	$	65.57	$	1,087	$	1,087
2024 ATM Program issuances	53,547,363	98.76		5,288,418		5,261,277
2024 Redemption of OP Units and DownREIT Units	494,941			—		—
2024 Stock incentive plans, net of forfeitures	95,447			—		—
2024 Totals	54,154,329			$	5,289,505	$	5,262,364
2025 Option exercises	25,051	$	77.36	$	1,938	$	1,938
2025 ATM Program issuances	45,080,143	152.47		6,873,247		6,835,580
2025 Equity issuance(1)	3,055,835	157.90		482,528		482,528
2025 Redemption of OP Units and DownREIT Units	559,950			—		—
2025 Stock incentive plans, net of forfeitures	98,042			—		—
2025 Totals	48,819,021			$	7,357,713	$	7,320,046

(1) Relates to the re-issuance of treasury shares and issuance of common stock in lieu of cash consideration for the acquisition of real property. Please see Note 3 for additional information.

Summary of Dividend Payments

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

	Nine Months Ended
	September 30, 2025				September 30, 2024
	Per Share		Amount		Per Share		Amount
Common stock	$	2.08	$	1,367,581	$	1.89	$	1,127,827

Summary of Accumulated Other Comprehensive Income (Loss)

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

	September 30, 2025		December 31, 2024
Foreign currency translation	$	(756,621)	$	(1,276,625)
Derivative and financial instruments designated as hedges	539,175		916,844
Total accumulated other comprehensive income (loss)	$	(217,446)	$	(359,781)