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Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues:    
Rental income $ 223,566 $ 206,993
Other income 10,370 13,036
Interest income 1,751 1,950
Income from other investments, net 986 940
Total revenues 259,090 246,025
Expenses:    
Property operating and maintenance 77,948 76,332
Real estate taxes 15,323 14,135
Sales and marketing, gross 3,409 2,812
Right-to-use contract commissions, deferred, net (191) (24)
Depreciation and amortization 37,977 32,374
Home selling expenses 1,083 1,075
General and administrative 9,909 8,038
Other expenses 427 343
Interest and related amortization 26,393 25,703
Total expenses 192,595 183,043
Gain on sale of real estate, net 52,507 0
Income before equity in income of unconsolidated joint ventures 119,002 62,982
Equity in income of unconsolidated joint ventures 1,533 1,195
Consolidated net income 120,535 64,177
Income allocated to non-controlling interests – Common OP Units (7,226) (3,955)
Net income available for Common Stockholders 113,309 60,222
Other comprehensive income (loss):    
Adjustment for fair market value of swap (931) 1,873
Consolidated comprehensive income 119,604 66,050
Comprehensive income allocated to non-controlling interests – Common OP Units (7,170) (4,070)
Comprehensive income attributable to Common Stockholders $ 112,434 $ 61,980
Earnings per Common Share – Basic (usd per share) $ 1.26 $ 0.68
Earnings per Common Share – Fully Diluted (usd per share) $ 1.26 $ 0.68
Weighted average Common Shares outstanding – basic (shares) 89,780 88,524
Weighted average Common Shares outstanding – fully diluted (shares) 95,624 94,577
Right-to-use annual payments    
Revenues:    
Contract revenue $ 12,316 $ 11,519
Right-to-use contracts current period, gross    
Revenues:    
Contract revenue 3,838 3,162
Right-to-use contract upfront payments, deferred, net    
Revenues:    
Contract revenue (1,771) (1,285)
Gross revenues from home sales    
Revenues:    
Contract revenue 6,475 8,309
Expenses:    
Cost of services 6,632 8,574
Brokered resale and ancillary services revenues, net    
Revenues:    
Contract revenue 1,559 1,401
Property management    
Expenses:    
Cost of services $ 13,685 $ 13,681