Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows From Operating Activities:
Consolidated net income	$ 63,075	$ 57,190
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation	30,398	28,935
Amortization of in-place leases	1,032	335
Amortization of loan costs	898	979
Debt premium amortization	(655)	(885)
Equity in income of unconsolidated joint ventures	(1,150)	(881)
Distributions of income from unconsolidated joint ventures	1,115	553
Stock-based compensation	1,755	1,914
Revenue recognized from right-to-use contract upfront payments	(2,426)	(2,230)
Commission expense recognized related to right-to-use contracts	1,090	1,002
Long term incentive plan compensation	337	(4,314)
Recovery for uncollectible rents receivable	(53)	(178)
Changes in assets and liabilities:
Notes receivable activity, net	(45)	164
Deferred commission expense	(1,072)	(895)
Escrow deposits, goodwill and other assets	18,316	7,746
Accrued expenses and accounts payable	(5,526)	6,209
Deferred revenue – upfront payments from right-to-use contracts	3,206	2,532
Deferred revenue – right-to-use annual payments	3,499	3,737
Rents received in advance and security deposits	492	(147)
Net cash provided by operating activities	114,286	101,766
Cash Flows From Investing Activities:
Real estate acquisition	0	(7,387)
Investment in unconsolidated joint ventures	0	(5,000)
Repayments of notes receivable	2,461	2,712
Issuance of notes receivable	(2,212)	(1,874)
Capital improvements	(24,354)	(22,495)
Net cash used in investing activities	(24,105)	(34,044)
Cash Flows From Financing Activities:
Proceeds from stock options and employee stock purchase plan	403	5,323
Distributions:
Common Stockholders	(36,364)	(31,612)
Common OP Unitholders	(3,047)	(2,703)
Preferred Stockholders	(2,297)	(2,297)
Principal payments and mortgage debt payoff	(31,887)	(19,535)
Debt issuance and defeasance costs	(49)	(8)
Other	(32)	(41)
Net cash used in financing activities	(73,273)	(50,873)
Net increase in cash and cash equivalents	16,908	16,849
Cash, beginning of period	56,340	80,258
Cash, end of period	73,248	97,107
Supplemental Information:
Cash paid during the period for interest	25,618	26,535
Capital improvements – used homes acquired by repossessions	77	317
Net repayments of notes receivable – used homes acquired by repossessions	(77)	(317)
Building and other depreciable property – reclassification of rental homes	6,967	7,257
Escrow deposits and other assets – reclassification of rental homes	(6,967)	(7,257)
Real estate acquisitions:
Investment in real estate, fair value	0	(7,375)
Accrued expenses and accounts payable	0	8
Rents and other customer payments received in advance and security deposits	0	(20)
Real estate acquisitions, net	$ 0	$ (7,387)