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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($)
$ in Thousands
Total
Preferred Stock
Preferred Stock
8.29% Series K Cumulative Redeemable Preferred Stock
COMMON SHARES, $0.01 PAR VALUE
PAID IN CAPITAL
RETAINED EARNINGS
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
DISTRIBUTIONS
OPERATING PARTNERSHIP
PARTIALLY OWNED PROPERTIES
Balance, beginning of year at Dec. 31, 2022   $ 37,280   $ 3,784 $ 9,476,085 $ 1,658,837 $ (2,547)      
Balance, beginning of year at Dec. 31, 2022                 $ 209,961 $ (721)
COMMON SHARES, $0.01 PAR VALUE                    
Conversion of OP Units into Common Shares       2 4,657          
Exercise of share options       2 11,356          
Employee Share Purchase Plan (ESPP)         2,124          
Share-based employee compensation expense:                    
Issuance of restricted units/shares       2 7,943       1  
Share options         3,125          
ESPP discount         398          
Supplemental Executive Retirement Plan (SERP)         148          
Acquisition of Noncontrolling Interests – Partially Owned Properties         (900)         (2,837)
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership $ 39,123       (39,123)          
Adjustment for Noncontrolling Interests ownership in Operating Partnership         6,815       (6,815)  
PAID IN CAPITAL                    
Conversion of OP Units into Common Shares       2 4,657          
Exercise of share options       2 11,356          
Employee Share Purchase Plan (ESPP)         2,124          
RETAINED EARNINGS                    
Net Income (Loss) 351,238         351,238        
Common Share distributions           (502,070)        
Preferred Share distributions           (1,545)        
Accumulated other comprehensive income (loss) - derivative instruments:                    
Unrealized holding gains (losses) arising during the period 4,054           4,054      
Losses reclassified into earnings from other comprehensive income 2,201           2,201      
DISTRIBUTIONS                    
Distributions declared per Common Share outstanding               $ 1.325    
NONCONTROLLING INTERESTS                    
Issuance of restricted units/shares       2 7,943       1  
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner                 (4,659)  
Equity compensation associated with Noncontrolling Interests                 10,867  
Net income attributable to Noncontrolling Interests 11,613               11,613 2,082
Distributions to Noncontrolling Interests                 (15,640) (3,261)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership (2,077)               2,077  
Adjustment for Noncontrolling Interests ownership in Operating Partnership         6,815       (6,815)  
PARTIALLY OWNED PROPERTIES                    
Net income attributable to Noncontrolling Interests 11,613               11,613 2,082
Contributions by Noncontrolling Interests                   9
Distributions to Noncontrolling Interests                 (15,640) (3,261)
Acquisition of Noncontrolling Interests – Partially Owned Properties         (900)         (2,837)
Balance, end of period at Jun. 30, 2023   37,280   3,790 9,472,628 1,506,460 3,708      
Balance, end of period at Jun. 30, 2023                 207,405 (4,728)
Balance, beginning of year at Mar. 31, 2023   37,280   3,789 9,488,320 1,619,131 (11,232)      
Balance, beginning of year at Mar. 31, 2023                 211,718 (2,553)
COMMON SHARES, $0.01 PAR VALUE                    
Conversion of OP Units into Common Shares         986          
Exercise of share options         3,246          
Employee Share Purchase Plan (ESPP)         672          
Share-based employee compensation expense:                    
Issuance of restricted units/shares       1 4,290       1  
Share options         1,628          
ESPP discount         138          
Supplemental Executive Retirement Plan (SERP)         (343)          
Acquisition of Noncontrolling Interests – Partially Owned Properties         (900)         (2,837)
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership         (33,177)          
Adjustment for Noncontrolling Interests ownership in Operating Partnership         7,768       (7,768)  
PAID IN CAPITAL                    
Conversion of OP Units into Common Shares         986          
Exercise of share options         3,246          
Employee Share Purchase Plan (ESPP)         672          
RETAINED EARNINGS                    
Net Income (Loss) 139,203         139,203        
Common Share distributions           (251,101)        
Preferred Share distributions           (773)        
Accumulated other comprehensive income (loss) - derivative instruments:                    
Unrealized holding gains (losses) arising during the period 13,834           13,834      
Losses reclassified into earnings from other comprehensive income 1,106           1,106      
DISTRIBUTIONS                    
Distributions declared per Common Share outstanding               0.6625    
NONCONTROLLING INTERESTS                    
Issuance of restricted units/shares       1 4,290       1  
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner                 (986)  
Equity compensation associated with Noncontrolling Interests                 6,213  
Net income attributable to Noncontrolling Interests 4,554               4,554 1,105
Distributions to Noncontrolling Interests                 (7,736) (452)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership                 1,409  
Adjustment for Noncontrolling Interests ownership in Operating Partnership         7,768       (7,768)  
PARTIALLY OWNED PROPERTIES                    
Net income attributable to Noncontrolling Interests 4,554               4,554 1,105
Contributions by Noncontrolling Interests                   9
Distributions to Noncontrolling Interests                 (7,736) (452)
Acquisition of Noncontrolling Interests – Partially Owned Properties         (900)         (2,837)
Balance, end of period at Jun. 30, 2023   37,280   3,790 9,472,628 1,506,460 3,708      
Balance, end of period at Jun. 30, 2023                 207,405 (4,728)
Balance, beginning of year at Dec. 31, 2023 11,085,828 37,280   3,793 9,601,866 1,437,185 5,704      
Partial redemption     $ (20,125)              
Balance, beginning of year at Dec. 31, 2023 203,300               202,306 994
COMMON SHARES, $0.01 PAR VALUE                    
Conversion of OP Units into Common Shares       1 5,047          
Exercise of share options       1 6,479          
Employee Share Purchase Plan (ESPP)       1 2,448          
Common shares repurchased and retired 38,500     (7)   (38,467)        
Share-based employee compensation expense:                    
Issuance of restricted units/shares       2 9,381       2  
Share options         2,507          
ESPP discount         501          
Supplemental Executive Retirement Plan (SERP)         (598)          
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership 39,058       (39,058)          
Adjustment for Noncontrolling Interests ownership in Operating Partnership         1,532       (1,532)  
PAID IN CAPITAL                    
Conversion of OP Units into Common Shares       1 5,047          
Exercise of share options       1 6,479          
Employee Share Purchase Plan (ESPP)       1 2,448          
RETAINED EARNINGS                    
Net Income (Loss) 473,270         473,270        
Common Share distributions           (511,720)        
Preferred Share distributions           (902)        
Premium on redemption of Preferred Shares - cash charge (1,444) (1,400)       (1,444)        
Accumulated other comprehensive income (loss) - derivative instruments:                    
Losses reclassified into earnings from other comprehensive income 1,210           1,210      
DISTRIBUTIONS                    
Distributions declared per Common Share outstanding               1.35    
NONCONTROLLING INTERESTS                    
Issuance of restricted units/shares       2 9,381       2  
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner                 (5,048)  
Equity compensation associated with Noncontrolling Interests                 10,236  
Net income attributable to Noncontrolling Interests 13,278               13,278 2,039
Distributions to Noncontrolling Interests                 (15,875) (2,786)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership (665)               665  
Adjustment for Noncontrolling Interests ownership in Operating Partnership         1,532       (1,532)  
PARTIALLY OWNED PROPERTIES                    
Net income attributable to Noncontrolling Interests 13,278               13,278 2,039
Contributions by Noncontrolling Interests                   458
Distributions to Noncontrolling Interests                 (15,875) (2,786)
Other                   (1,000)
Balance, end of period at Jun. 30, 2024 10,975,887 17,155   3,791 9,590,105 1,357,922 6,914      
Balance, end of period at Jun. 30, 2024 203,737               204,032 (295)
Balance, beginning of year at Mar. 31, 2024   17,155   3,789 9,603,743 1,436,671 6,314      
Balance, beginning of year at Mar. 31, 2024                 207,272 (1,131)
COMMON SHARES, $0.01 PAR VALUE                    
Conversion of OP Units into Common Shares       1 4,793          
Exercise of share options         2,079          
Employee Share Purchase Plan (ESPP)       1 804          
Share-based employee compensation expense:                    
Issuance of restricted units/shares         4,887          
Share options         1,218          
ESPP discount         205          
Supplemental Executive Retirement Plan (SERP)         (371)          
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership         (30,243)          
Adjustment for Noncontrolling Interests ownership in Operating Partnership         2,990       (2,990)  
PAID IN CAPITAL                    
Conversion of OP Units into Common Shares       1 4,793          
Exercise of share options         2,079          
Employee Share Purchase Plan (ESPP)       1 804          
RETAINED EARNINGS                    
Net Income (Loss) 177,483         177,483        
Common Share distributions           (255,877)        
Preferred Share distributions           (355)        
Accumulated other comprehensive income (loss) - derivative instruments:                    
Losses reclassified into earnings from other comprehensive income 600           600      
DISTRIBUTIONS                    
Distributions declared per Common Share outstanding               $ 0.675    
NONCONTROLLING INTERESTS                    
Issuance of restricted units/shares         4,887          
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner                 (4,794)  
Equity compensation associated with Noncontrolling Interests                 6,149  
Net income attributable to Noncontrolling Interests 5,003               5,003 1,069
Distributions to Noncontrolling Interests                 (7,429) (456)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership                 821  
Adjustment for Noncontrolling Interests ownership in Operating Partnership         2,990       (2,990)  
PARTIALLY OWNED PROPERTIES                    
Net income attributable to Noncontrolling Interests 5,003               5,003 1,069
Contributions by Noncontrolling Interests                   223
Distributions to Noncontrolling Interests                 (7,429) (456)
Balance, end of period at Jun. 30, 2024 10,975,887 $ 17,155   $ 3,791 $ 9,590,105 $ 1,357,922 $ 6,914      
Balance, end of period at Jun. 30, 2024 $ 203,737               $ 204,032 $ (295)