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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       1 5,047        
Exercise of share options       1 6,479        
Employee Share Purchase Plan (ESPP)       1 2,448        
Common shares repurchased and retired       (7)   (38,467)      
Share-based employee compensation expense:                  
Restricted shares       2 9,381        
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 attributable to controlling interests 473,270         473,270      
Common Share distributions           (511,720)      
Preferred Share distributions           (902)      
Premium on redemption of Preferred Shares - cash charge           (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  
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   17,155   3,791 9,590,105 1,357,922 6,914    
Balance, end of period at Jun. 30, 2024               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:                  
Restricted 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 attributable to controlling interests 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                  
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   17,155   3,791 9,590,105 1,357,922 6,914    
Balance, end of period at Jun. 30, 2024               204,032 (295)
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       2 8,771        
Exercise of share options       1 5,356        
Employee Share Purchase Plan (ESPP)         1,413        
Share-based employee compensation expense:                  
Restricted shares       2 9,337        
Share options         2,656        
ESPP discount         258        
Offering costs         (481)        
Supplemental Executive Retirement Plan (SERP)         (740)        
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership (19,568)       19,568        
Adjustment for Noncontrolling Interests ownership in Operating Partnership         (1,692)     1,692  
PAID IN CAPITAL                  
Conversion of OP Units into Common Shares       2 8,771        
Exercise of share options       1 5,356        
Employee Share Purchase Plan (ESPP)         1,413        
RETAINED EARNINGS                  
Net income attributable to controlling interests 448,948         448,948      
Common Share distributions           (526,428)      
Preferred Share distributions           (711)      
Accumulated other comprehensive income (loss) - derivative instruments:                  
Unrealized holding gains (losses) arising during the period (3,550)           (3,550)    
Losses reclassified into earnings from other comprehensive income $ 951           951    
DISTRIBUTIONS                  
Distributions declared per Common Share outstanding $ 1.385                
NONCONTROLLING INTERESTS                  
Issuance of restricted units/shares               4  
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner               (8,773)  
Equity compensation associated with Noncontrolling Interests               10,593  
Net income attributable to Noncontrolling Interests $ 12,328             12,328 2,307
Distributions to Noncontrolling Interests               (16,159) (4,052)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership (1,090)             1,090  
Adjustment for Noncontrolling Interests ownership in Operating Partnership         (1,692)     1,692  
PARTIALLY OWNED PROPERTIES                  
Net income attributable to Noncontrolling Interests 12,328             12,328 2,307
Distributions to Noncontrolling Interests               (16,159) (4,052)
Balance, end of period at Jun. 30, 2025 11,008,221 17,155   3,800 9,656,272 1,329,379 1,615    
Balance, end of period at Jun. 30, 2025               202,717 (2,463)
Balance, beginning of year at Mar. 31, 2025   17,155   3,798 9,622,470 1,400,511 3,396    
Balance, beginning of year at Mar. 31, 2025               207,090 (2,989)
COMMON SHARES, $0.01 PAR VALUE                  
Conversion of OP Units into Common Shares       1 4,365        
Exercise of share options       1 996        
Employee Share Purchase Plan (ESPP)         471        
Share-based employee compensation expense:                  
Restricted shares         4,901        
Share options         1,377        
ESPP discount         64        
Offering costs         (481)        
Supplemental Executive Retirement Plan (SERP)         (851)        
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership         18,813        
Adjustment for Noncontrolling Interests ownership in Operating Partnership         4,147     (4,147)  
PAID IN CAPITAL                  
Conversion of OP Units into Common Shares       1 4,365        
Exercise of share options       1 996        
Employee Share Purchase Plan (ESPP)         471        
RETAINED EARNINGS                  
Net income attributable to controlling interests 192,356         192,356      
Common Share distributions           (263,133)      
Preferred Share distributions           (355)      
Accumulated other comprehensive income (loss) - derivative instruments:                  
Unrealized holding gains (losses) arising during the period (2,046)           (2,046)    
Losses reclassified into earnings from other comprehensive income $ 265           265    
DISTRIBUTIONS                  
Distributions declared per Common Share outstanding $ 0.6925                
NONCONTROLLING INTERESTS                  
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner               (4,366)  
Equity compensation associated with Noncontrolling Interests               5,492  
Net income attributable to Noncontrolling Interests $ 5,226             5,226 1,203
Distributions to Noncontrolling Interests               (7,559) (677)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership               981  
Adjustment for Noncontrolling Interests ownership in Operating Partnership         4,147     (4,147)  
PARTIALLY OWNED PROPERTIES                  
Net income attributable to Noncontrolling Interests 5,226             5,226 1,203
Distributions to Noncontrolling Interests               (7,559) (677)
Balance, end of period at Jun. 30, 2025 $ 11,008,221 $ 17,155   $ 3,800 $ 9,656,272 $ 1,329,379 $ 1,615    
Balance, end of period at Jun. 30, 2025               $ 202,717 $ (2,463)