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Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Rental income $ 1,178,959 $ 1,118,601 $ 1,032,575
Other income 67,407 56,144 50,298
Interest income 9,037 7,430 7,016
Income from other investments, net 8,703 8,553 4,555
Total revenues 1,489,423 1,447,080 1,316,403
Expenses:      
Property operating and maintenance 469,912 443,157 398,983
Real estate taxes 77,993 74,145 72,671
Membership sales and marketing 20,974 20,317 18,668
Depreciation and amortization 203,738 202,362 188,444
Home selling expenses and ancillary operating expenses 27,453 27,321 23,538
General and administrative 47,280 44,857 39,576
Casualty-related charges/(recoveries), net 0 0 0
Other expenses 5,768 8,646 4,241
Early debt retirement 68 1,156 2,784
Interest and related amortization 132,342 116,562 108,718
Total expenses 1,169,366 1,151,618 1,044,225
Income from operations 320,057 295,462 272,178
Gain/(Loss) on sale of real estate and impairment, net (3,581) 0 (59)
Income tax benefit 10,488 0 0
Equity in income of unconsolidated joint ventures 2,713 3,363 3,881
Consolidated net income 329,677 298,825 276,000
Income allocated to non-controlling interests – Common OP Units (15,470) (14,198) (13,522)
Redeemable perpetual preferred stock dividends (16) (16) (16)
Net income available for Common Stockholders 314,191 284,611 262,462
Other comprehensive income (loss):      
Adjustment for fair market value of swap (13,058) 15,595 3,524
Consolidated comprehensive income 316,619 314,420 279,524
Comprehensive income allocated to non-controlling interests – Common OP Units (14,862) (15,005) (13,692)
Redeemable perpetual preferred stock dividends (16) (16) (16)
Comprehensive income attributable to Common Stockholders $ 301,741 $ 299,399 $ 265,816
Earnings per Common Share – Basic (usd per share) $ 1.69 $ 1.53 $ 1.43
Earnings per Common Share – Fully Diluted (usd per share) $ 1.69 $ 1.53 $ 1.43
Weighted average Common Shares outstanding – Basic (in shares) 186,061 185,780 182,917
Weighted average Common Shares outstanding – Fully Diluted (in shares) 195,429 195,255 192,883
Redeemable Perpetual Preferred  Stock      
Expenses:      
Redeemable perpetual preferred stock dividends $ (16) $ (16) $ (16)
Other comprehensive income (loss):      
Redeemable perpetual preferred stock dividends (16) (16) (16)
Annual membership subscriptions      
Revenues:      
Contract revenue 65,379 63,215 58,251
Membership upgrade sales      
Revenues:      
Contract revenue 14,719 12,958 11,191
Gross revenues from home sales, brokered resales and ancillary services      
Revenues:      
Contract revenue 145,219 180,179 152,517
Expenses:      
Cost of services 107,668 139,012 120,623
Property management      
Expenses:      
Cost of services $ 76,170 $ 74,083 $ 65,979