XML 16 R4.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues:    
Lease income $ 371,079 $ 353,106
Other property income 3,021 4,350
Management, transaction, and other fees 6,812 6,396
Total revenues 380,912 363,852
Operating expenses:    
Depreciation and amortization 96,774 97,585
Property operating expense 68,459 63,274
Real estate taxes 46,360 44,307
General and administrative 21,600 26,132
Other operating expenses 1,688 2,643
Total operating expenses 234,881 233,941
Other expense, net:    
Interest expense, net 48,013 42,868
Gain on sale of real estate, net of tax (101) (11,403)
Loss on early extinguishment of debt   180
Net investment loss (income) 761 (2,431)
Total other expense, net 48,673 29,214
Income before equity in income of investments in real estate partnerships 97,358 100,697
Equity in income of investments in real estate partnerships 14,495 11,961
Net income 111,853 112,658
Noncontrolling interests:    
Exchangeable operating partnership units (642) (642)
Limited partners' interests in consolidated partnerships (1,624) (2,242)
Net income attributable to noncontrolling interests (2,266) (2,884)
Net income attributable to the Company/ Partnership 109,587 109,774
Preferred stock dividends (3,413) (3,413)
Net income attributable to common shareholders $ 106,174 $ 106,361
Net income attributable to common shareholders:    
Per common unit - basic $ 0.59 $ 0.58
Per common unit - diluted $ 0.58 $ 0.58
Partnership Interest [Member]    
Revenues:    
Lease income $ 371,079 $ 353,106
Other property income 3,021 4,350
Management, transaction, and other fees 6,812 6,396
Total revenues 380,912 363,852
Operating expenses:    
Depreciation and amortization 96,774 97,585
Property operating expense 68,459 63,274
Real estate taxes 46,360 44,307
General and administrative 21,600 26,132
Other operating expenses 1,688 2,643
Total operating expenses 234,881 233,941
Other expense, net:    
Interest expense, net 48,013 42,868
Gain on sale of real estate, net of tax (101) (11,403)
Loss on early extinguishment of debt 0 180
Net investment loss (income) 761 (2,431)
Total other expense, net 48,673 29,214
Income before equity in income of investments in real estate partnerships 97,358 100,697
Equity in income of investments in real estate partnerships 14,495 11,961
Net income 111,853 112,658
Noncontrolling interests:    
Limited partners' interests in consolidated partnerships (1,624) (2,242)
Net income attributable to noncontrolling interests (1,624) (2,242)
Net income attributable to the Company/ Partnership 110,229 110,416
Preferred unit distributions (3,413) (3,413)
Net income attributable to common unit holders $ 106,816 $ 107,003
Net income attributable to common unit holders:    
Per common unit - basic $ 0.59 $ 0.58
Per common unit - diluted $ 0.58 $ 0.58