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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues    
Revenues from rental properties, net $ 422,654 $ 278,871
Management and other fee income 4,595 3,437
Total revenues 427,249 282,308
Operating expenses    
Rent (4,081) (3,035)
Real estate taxes (54,314) (38,936)
Operating and maintenance (69,225) (46,520)
General and administrative (29,948) (24,478)
Impairment charges 272 (0)
Depreciation and amortization (130,294) (74,876)
Total operating expenses (288,134) (187,845)
Gain on sale of properties 4,193 10,005
Operating income 143,308 104,468
Other income/(expense)    
Other income, net 5,983 3,357
Gain on marketable securities, net 121,764 61,085
Interest expense (57,019) (47,716)
Early extinguishment of debt charges (7,173) 0
Income before income taxes, net, equity in income of joint ventures, net, and equity in income from other investments, net 206,863 121,194
Benefit/(provision) for income taxes, net 153 (1,308)
Net income 235,959 141,425
Net loss/(income) attributable to noncontrolling interests 1,343 (3,483)
Net income attributable to the Company 237,302 137,942
Preferred dividends (6,354) (6,354)
Net income available to the Company's common shareholders $ 230,948 $ 131,588
Per common share:    
-Basic (in dollars per share) $ 0.37 $ 0.30
-Diluted (in dollars per share) $ 0.37 $ 0.30
Weighted average shares:    
-Basic (in shares) 614,767 430,524
-Diluted (in shares) [1] 616,758 432,264
Joint Ventures [Member]    
Other income/(expense)    
Equity in income, net $ 23,570 $ 17,752
Other Real Estate Investments [Member]    
Other income/(expense)    
Equity in income, net $ 5,373 $ 3,787
[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 stock options that were not dilutive as of March 31, 2021.