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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Revenues from rental properties, net $ 1,349,702 $ 1,044,888 $ 1,142,334
Management and other fee income 14,883 13,005 16,550
Total revenues 1,364,585 1,057,893 1,158,884
Operating expenses      
Rent (13,773) (11,270) (11,311)
Real estate taxes (181,256) (157,661) (153,659)
Operating and maintenance (222,882) (174,038) (171,981)
General and administrative (104,121) (93,217) (96,942)
Impairment charges 3,597 6,624 48,743
Merger charges (50,191) 0 0
Depreciation and amortization (395,320) (288,955) (277,879)
Total operating expenses (971,140) (731,765) (760,515)
Gain on sale of properties 30,841 6,484 79,218
Operating income 424,286 332,612 477,587
Other income/(expense)      
Other income, net 19,810 4,119 10,985
Gain on marketable securities, net 505,163 594,753 829
Gain on sale of cost method investment 0 190,832 0
Interest expense (204,133) (186,904) (177,395)
Early extinguishment of debt charges 0 (7,538) 0
Income before income taxes, net, equity in income of joint ventures, net, and equity in income from other investments, net 745,126 927,874 312,006
(Provision)/benefit for income taxes, net (3,380) (978) 3,317
Net income 849,696 1,002,877 413,561
Net income attributable to noncontrolling interests (5,637) (2,044) (2,956)
Net income attributable to the Company 844,059 1,000,833 410,605
Preferred stock redemption charges 0 0 (18,528)
Preferred dividends (25,416) (25,416) (52,089)
Net income available to the Company's common shareholders $ 818,643 $ 975,417 $ 339,988
Per common share:      
-Basic (in dollars per share) $ 1.61 $ 2.26 $ 0.80
-Diluted (in dollars per share) $ 1.60 $ 2.25 $ 0.80
Weighted average shares:      
-Basic (in shares) 506,248 429,950 420,370
-Diluted (in shares) [1] 511,385 431,633 421,799
Joint Ventures [Member]      
Other income/(expense)      
Equity in income, net $ 84,778 $ 47,353 $ 72,162
Other Real Estate Investments [Member]      
Other income/(expense)      
Equity in income, net $ 23,172 $ 28,628 $ 26,076
[1] The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of Net income/(loss) 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 0.5 million and 1.2 million stock options that were not dilutive as of September 30, 2021 and 2020, respectively, and 2.5 million shares of restricted stock that were not dilutive for the three months ended September 30, 2020.