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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Revenues from rental properties, net $ 423,273 $ 285,732 $ 845,927 $ 564,603
Management and other fee income 3,925 3,284 8,520 6,721
Total revenues 427,198 289,016 854,447 571,324
Operating expenses        
Rent (4,070) (2,993) (8,151) (6,028)
Real estate taxes (56,075) (39,594) (110,389) (78,530)
Operating and maintenance (69,784) (46,897) (139,009) (93,417)
General and administrative (27,981) (24,754) (57,929) (49,232)
Impairment charges (14,419) (104) (14,691) (104)
Merger charges 0 (3,193) 0 (3,193)
Depreciation and amortization (124,611) (72,573) (254,905) (147,449)
Total operating expenses (296,940) (190,108) (585,074) (377,953)
Gain on sale of properties 2,944 18,861 7,137 28,866
Operating income 133,202 117,769 276,510 222,237
Other income/(expense)        
Other income, net 6,642 1,782 12,625 5,139
(Loss)/gain on marketable securities, net (261,467) 24,297 (139,703) 85,382
Interest expense (56,466) (46,812) (113,485) (94,528)
Early extinguishment of debt charges (57) 0 (7,230) 0
(Loss)/income before income taxes, net, equity in income of joint ventures, net, and equity in income from other investments, net (178,146) 97,036 28,717 218,230
(Provision)/benefit for income taxes, net (96) (1,275) 57 (2,583)
Net (loss)/income (130,727) 117,118 105,232 258,543
Net loss/(income) attributable to noncontrolling interests 11,226 (421) 12,569 (3,904)
Net (loss)/income attributable to the Company (119,501) 116,697 117,801 254,639
Preferred dividends, net (6,250) (6,354) (12,604) (12,708)
Net (loss)/income available to the Company's common shareholders $ (125,751) $ 110,343 $ 105,197 $ 241,931
Per common share:        
-Basic (in dollars per share) $ (0.21) $ 0.25 $ 0.17 $ 0.56
-Diluted (in dollars per share) $ (0.21) $ 0.25 $ 0.17 $ 0.56
Weighted average shares:        
-Basic (in shares) 615,642 431,011 615,207 430,769
-Diluted (in shares) [1] 615,642 432,489 616,943 432,430
Joint Ventures [Member]        
Other income/(expense)        
Equity in income, net $ 44,130 $ 16,318 $ 67,700 $ 34,070
Other Real Estate Investments [Member]        
Other income/(expense)        
Equity in income, net $ 3,385 $ 5,039 $ 8,758 $ 8,826
[1] The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of Net (loss)/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 0.5 million stock options that were not dilutive as of June 30, 2021.