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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues    
Revenues from rental properties, net $ 278,871 $ 286,004
Management and other fee income 3,437 3,740
Total revenues 282,308 289,744
Operating expenses    
Rent (3,035) (2,835)
Real estate taxes (38,936) (39,652)
Operating and maintenance (46,520) (42,408)
General and administrative (24,478) (21,017)
Impairment charges (0) 2,974
Depreciation and amortization (74,876) (69,397)
Total operating expenses (187,845) (178,283)
Gain on sale of properties 10,005 3,847
Operating income 104,468 115,308
Other income/(expense)    
Other income, net 3,357 1,245
Gain/(loss) on marketable securities, net 61,085 (4,667)
Interest expense (47,716) (46,060)
Income before income taxes, net, equity in income of joint ventures, net, and equity in income from other real estate investments, net 121,194 65,826
Provision for income taxes, net (1,308) (43)
Net income 141,425 90,389
Net income attributable to noncontrolling interests (3,483) (289)
Net income attributable to the Company 137,942 90,100
Preferred dividends (6,354) (6,354)
Net income available to the Company's common shareholders $ 131,588 $ 83,746
Per common share:    
-Basic (in dollars per share) $ 0.30 $ 0.19
-Diluted (in dollars per share) $ 0.30 $ 0.19
Weighted average shares:    
-Basic (in shares) 430,524 429,735
-Diluted (in shares) [1] 432,264 430,505
Joint Ventures [Member]    
Other income/(expense)    
Equity in income $ 17,752 $ 13,648
Other Real Estate Investments [Member]    
Other income/(expense)    
Equity in income $ 3,787 $ 10,958
[1] The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of Net income available to the Company’s common shareholders per share. Accordingly, the impact of such conversions has not been included in the determination of diluted earnings per share calculations. Additionally, there were 0.8 million and 1.2 million stock options that were not dilutive as of March 31, 2021 and 2020, respectively.