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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash Flows From Operating Activities:    
Consolidated net income $ 113,346 $ 107,537
Adjustments to reconcile Consolidated net income to Net cash provided by operating activities:    
Depreciation 64,486 60,960
Amortization of in-place leases 2,945 1,990
Amortization of loan costs 1,772 1,788
Debt premium amortization (711) (1,166)
Equity in income of unconsolidated joint ventures (2,808) (2,190)
Distributions of income from unconsolidated joint ventures 1,732 1,270
Proceeds from insurance claims, net 1,809 4,482
Compensation expenses related to restricted stock and stock options 4,541 4,257
Revenue recognized from right-to-use contract upfront payments (3,800) (4,908)
Commission expense recognized related to right-to-use contracts 1,810 2,202
Long-term incentive plan compensation 461 674
Recovery for uncollectible rents receivable 134 214
Changes in assets and liabilities:    
Notes receivable activity, net 347 (282)
Deferred commission expense (2,010) (2,280)
Escrow deposits, goodwill and other assets 11,111 10,992
Accrued expenses and accounts payable 5,280 6,066
Rents received in advance and security deposits 15,601 11,630
Net cash provided by operating activities 226,026 212,982
Cash Flows From Investing Activities:    
Real estate acquisitions (53,289) (2,053)
Investment in unconsolidated joint ventures (3,791) (2,267)
Distributions of capital from unconsolidated joint ventures 110 530
Proceeds from insurance claims 2,335 590
Repayments of notes receivable 19,037 5,054
Issuance of notes receivable (4,919) (18,696)
Capital improvements (81,377) (53,464)
Net cash used in investing activities (121,894) (70,306)
Cash Flows From Financing Activities:    
Proceeds from stock options and employee stock purchase plan 846 764
Distributions:    
Common Stockholders (92,008) (78,699)
Common OP Unitholders (6,049) (5,942)
Perpetual Preferred Stockholders (8) (4,613)
Principal payments and mortgage debt payoff (23,964) (42,637)
New mortgage notes payable financing proceeds 64,014 0
Line of Credit payoff (97,000) 0
Line of Credit proceeds 67,000 0
Debt issuance and defeasance costs (1,688) 0
Other (335) (149)
Net cash used in financing activities (89,192) (131,276)
Net increase in Cash and restricted cash 14,940 11,400
Cash and restricted cash, beginning of period 31,085 56,340
Cash and restricted cash, end of period 46,025 67,740
Supplemental Information:    
Cash paid during the period for interest 52,658 51,135
Building and other depreciable property – reclassification of rental homes 19,390 15,322
Escrow deposits and other assets – reclassification of rental homes (19,390) (15,322)
Real estate acquisitions:    
Investment in real estate, fair value (71,756) (7,985)
Escrow deposits and other assets (9) 0
Debt assumed 9,200 5,900
Debt financed 8,786 0
Accrued expenses and accounts payable 490 32
Real estate acquisitions, net (53,289) (2,053)
Right-to-use contract upfront payments, deferred, net    
Changes in assets and liabilities:    
Deferred revenue 7,106 7,004
Right-to-use annual payments    
Changes in assets and liabilities:    
Deferred revenue $ 2,874 $ 2,742