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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)
OPERATING PARTNERSHIP
PARTIALLY OWNED PROPERTIES
Balance, beginning of year at Dec. 31, 2023   $ 37,280   $ 3,793 $ 9,601,866 $ 1,437,185 $ 5,704    
Partial redemption     $ (20,125)            
Balance, beginning of year at Dec. 31, 2023               $ 202,306 $ 994
COMMON SHARES, $0.01 PAR VALUE                  
Conversion of OP Units into Common Shares         254        
Exercise of share options       1 4,400        
Employee Share Purchase Plan (ESPP)         1,644        
Common shares repurchased and retired       (7)   (38,467)      
Share-based employee compensation expense:                  
Restricted shares       2 4,494        
Share options         1,289        
ESPP discount         296        
Supplemental Executive Retirement Plan (SERP)         (227)        
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership $ 8,815       (8,815)        
Adjustment for Noncontrolling Interests ownership in Operating Partnership         (1,458)     1,458  
PAID IN CAPITAL                  
Conversion of OP Units into Common Shares         254        
Exercise of share options       1 4,400        
Employee Share Purchase Plan (ESPP)         1,644        
RETAINED EARNINGS                  
Net income attributable to controlling interests 295,787         295,787      
Common Share distributions           (255,843)      
Preferred Share distributions           (547)      
Premium on redemption of Preferred Shares - cash charge           (1,444)      
Accumulated other comprehensive income (loss) - derivative instruments:                  
Unrealized holding gains (losses) arising during the period 0                
Losses reclassified into earnings from other comprehensive income $ 610           610    
DISTRIBUTIONS                  
Distributions declared per Common Share outstanding $ 0.675                
NONCONTROLLING INTERESTS                  
Issuance of restricted units/shares               2  
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner               (254)  
Equity compensation associated with Noncontrolling Interests               4,087  
Net income attributable to Noncontrolling Interests $ 8,275             8,275 970
Distributions to Noncontrolling Interests               (8,446) (2,330)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership 156             (156)  
Adjustment for Noncontrolling Interests ownership in Operating Partnership         (1,458)     1,458  
PARTIALLY OWNED PROPERTIES                  
Net income attributable to Noncontrolling Interests 8,275             8,275 970
Contributions by Noncontrolling Interests                 235
Distributions to Noncontrolling Interests               (8,446) (2,330)
Other                 (1,000)
Balance, end of period at Mar. 31, 2024   17,155   3,789 9,603,743 1,436,671 6,314    
Balance, end of period at Mar. 31, 2024               207,272 (1,131)
Balance, beginning of year at Dec. 31, 2024 11,044,560 17,155   3,795 9,611,826 1,407,570 4,214    
Balance, beginning of year at Dec. 31, 2024               201,942 (718)
COMMON SHARES, $0.01 PAR VALUE                  
Conversion of OP Units into Common Shares       1 4,406        
Exercise of share options         4,360        
Employee Share Purchase Plan (ESPP)         942        
Share-based employee compensation expense:                  
Restricted shares       2 4,436        
Share options         1,279        
ESPP discount         194        
Supplemental Executive Retirement Plan (SERP)         111        
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership (755)       755        
Adjustment for Noncontrolling Interests ownership in Operating Partnership         (5,839)     5,839  
PAID IN CAPITAL                  
Conversion of OP Units into Common Shares       1 4,406        
Exercise of share options         4,360        
Employee Share Purchase Plan (ESPP)         942        
RETAINED EARNINGS                  
Net income attributable to controlling interests 256,592         256,592      
Common Share distributions           (263,295)      
Preferred Share distributions           (356)      
Accumulated other comprehensive income (loss) - derivative instruments:                  
Unrealized holding gains (losses) arising during the period (1,504)           (1,504)    
Losses reclassified into earnings from other comprehensive income $ 686           686    
DISTRIBUTIONS                  
Distributions declared per Common Share outstanding $ 0.6925                
NONCONTROLLING INTERESTS                  
Issuance of restricted units/shares               4  
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner               (4,407)  
Equity compensation associated with Noncontrolling Interests               5,101  
Net income attributable to Noncontrolling Interests $ 7,102             7,102 1,104
Distributions to Noncontrolling Interests               (8,600) (3,375)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership (109)             109  
Adjustment for Noncontrolling Interests ownership in Operating Partnership         (5,839)     5,839  
PARTIALLY OWNED PROPERTIES                  
Net income attributable to Noncontrolling Interests 7,102             7,102 1,104
Distributions to Noncontrolling Interests               (8,600) (3,375)
Balance, end of period at Mar. 31, 2025 $ 11,047,330 $ 17,155   $ 3,798 $ 9,622,470 $ 1,400,511 $ 3,396    
Balance, end of period at Mar. 31, 2025               $ 207,090 $ (2,989)