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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows From Operating Activities:    
Consolidated net income $ 173,006 $ 162,403
Adjustments to reconcile Consolidated net income to Net cash provided by operating activities:    
Depreciation 97,729 91,781
Amortization of in-place leases 5,069 2,128
Amortization of loan costs 2,675 2,676
Debt premium amortization (1,061) (1,664)
Equity in income of unconsolidated joint ventures (3,596) (2,876)
Distributions of income from unconsolidated joint ventures 2,869 2,071
Proceeds from insurance claims, net (3,353) (134)
Compensation expenses related to restricted stock and stock options 7,287 6,813
Revenue recognized from right-to-use contract upfront payments (5,780) (7,440)
Commission expense recognized related to right-to-use contracts 2,715 3,327
Long-term incentive plan compensation 819 1,011
Provision for (recovery of) uncollectible rents receivable 412 (52)
Changes in assets and liabilities:    
Notes receivable activity, net 280 (337)
Deferred commission expense (3,424) (3,560)
Escrow deposits, goodwill and other assets 17,910 21,822
Rents and other customer payments received in advance and security deposits 13,858 16,752
Rents received in advance and security deposits 665 (3,305)
Net cash provided by operating activities 321,142 303,322
Cash Flows From Investing Activities:    
Real estate acquisitions, net (131,804) (2,163)
Investment in unconsolidated joint ventures (3,914) (33,479)
Distributions of capital from unconsolidated joint ventures 168 640
Proceeds from insurance claims 6,615 1,547
Repayments of notes receivable 21,618 7,643
Issuance of notes receivable (8,716) (22,297)
Capital improvements (128,436) (87,877)
Net cash used in investing activities (244,469) (135,986)
Cash Flows From Financing Activities:    
Proceeds from stock options and employee stock purchase plan 1,610 1,615
Gross proceeds from sale of Common Stock 78,755 42,037
Distributions:    
Common Stockholders (140,850) (121,114)
Common OP Unitholders (9,250) (8,786)
Perpetual Preferred Stockholders (8) (6,910)
Principal payments and mortgage debt payoff (36,308) (60,392)
New mortgage notes payable financing proceeds 64,014 146,000
Line of Credit payoff (174,000) 0
Line of Credit proceeds 224,000 0
Redemption of preferred stock 0 (136,144)
Debt issuance and defeasance costs (1,878) (1,864)
Other (1,433) (723)
Net cash provided by (used in) financing activities 4,652 (146,281)
Net increase in Cash and restricted cash 81,325 21,055
Cash and restricted cash, beginning of period 31,085 56,340
Cash and restricted cash, end of period 112,410 77,395
Supplemental Information:    
Cash paid during the period for interest 76,881 76,713
Building and other depreciable property – reclassification of rental homes 29,170 25,852
Escrow deposits and other assets – reclassification of rental homes (29,170) (25,852)
Real estate acquisitions:    
Investment in real estate, fair value (150,926) (7,985)
Investment in real estate, cost 0 (110)
Escrow deposits and other assets (9) 0
Debt assumed 9,200 5,900
Debt financed 8,786 0
Accrued expenses and accounts payable 1,066 32
Rents and other customer payments received in advance and security deposits 79 0
Real estate acquisitions, net (131,804) (2,163)
Right-to-use contract upfront payments, deferred, net    
Changes in assets and liabilities:    
Deferred revenue 11,969 11,210
Right-to-use annual payments    
Changes in assets and liabilities:    
Deferred revenue $ 1,093 $ 696