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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Rental income $ 239,202 $ 214,315 $ 471,380 $ 421,236
Interest income 42,997 38,042 86,113 73,878
Miscellaneous income 307 388 1,798 930
Total revenues 282,506 252,745 559,291 496,044
Expenses        
Depreciation and amortization 80,509 74,234 160,384 148,791
General and administrative 23,838 22,148 55,895 43,680
Real estate taxes 3,251 3,750 6,562 7,548
Acquisition, merger and transition related costs 2,010 1,780 3,474 4,383
Impairment on real estate properties 14,215 8,182 15,450 13,474
(Recovery) provision for credit losses (4,771) (14,172) 321 (5,702)
Interest expense 52,897 53,966 105,177 111,786
Total expenses 171,949 149,888 347,263 323,960
Other income (expense)        
Other income - net 13,751 3,363 16,798 8,639
Loss on debt extinguishment   (213)   (1,496)
Gain on assets sold - net 22,886 12,911 32,961 11,520
Total other income 36,637 16,061 49,759 18,663
Income before income tax expense and income from unconsolidated joint ventures 147,194 118,918 261,787 190,747
Income tax expense (4,528) (1,980) (8,139) (4,561)
(Loss) income from unconsolidated joint ventures (2,187) 141 (1,109) 239
Net income 140,479 117,079 252,539 186,425
Net income attributable to noncontrolling interest (3,880) (3,217) (6,908) (5,202)
Net income available to common stockholders $ 136,599 $ 113,862 $ 245,631 $ 181,223
Basic:        
Net income available to common stockholders $ 0.46 $ 0.46 $ 0.8 $ 0.73
Diluted:        
Net income available to common stockholders $ 0.46 $ 0.45 $ 0.79 $ 0.72