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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Lease income $ 402,798 $ 369,105 $ 805,411 $ 740,184
Other property income 3,520 4,499 6,427 7,520
Management, transaction, and other fees 7,192 7,244 14,125 14,056
Total revenues 413,510 380,848 825,963 761,760
Operating expenses:        
Depreciation and amortization 108,803 99,535 215,225 196,309
Property operating expense 70,946 60,759 144,246 129,218
Real estate taxes 49,985 47,500 101,395 93,860
General and administrative 27,567 25,480 53,173 47,080
Other operating expenses 2,037 1,944 3,038 3,632
Total operating expenses 259,338 235,218 517,077 470,099
Other expense, net:        
Interest expense, net 53,582 50,272 105,767 98,285
Provision for impairment of real estate   1,262   1,262
(Gain) Loss on sale of real estate, net of tax (268) 294 (7,462) 193
Net investment income (2,721) (788) (3,416) (27)
Total other expense, net 50,593 51,040 94,889 99,713
Income before equity in income of investments in real estate partnerships 103,579 94,590 213,997 191,948
Equity in income of investments in real estate partnerships 16,160 13,759 38,540 28,254
Net income 119,739 108,349 252,537 220,202
Noncontrolling interests:        
Exchangeable operating partnership units (2,360) (586) (4,977) (1,228)
Limited partners' interests in consolidated partnerships (1,615) (1,742) (3,247) (3,366)
Net income attributable to noncontrolling interests (3,975) (2,328) (8,224) (4,594)
Net income attributable to the Company/ Partnership 115,764 106,021 244,313 215,608
Preferred stock dividends (3,413) (3,413) (6,826) (6,826)
Net income attributable to common shareholders $ 112,351 $ 102,608 $ 237,487 $ 208,782
Net income attributable to common shareholders:        
Per common share - basic $ 0.61 $ 0.57 $ 1.30 $ 1.15
Per common share - diluted $ 0.61 $ 0.56 $ 1.30 $ 1.15
Partnership Interest [Member]        
Revenues:        
Lease income $ 402,798 $ 369,105 $ 805,411 $ 740,184
Other property income 3,520 4,499 6,427 7,520
Management, transaction, and other fees 7,192 7,244 14,125 14,056
Total revenues 413,510 380,848 825,963 761,760
Operating expenses:        
Depreciation and amortization 108,803 99,535 215,225 196,309
Property operating expense 70,946 60,759 144,246 129,218
Real estate taxes 49,985 47,500 101,395 93,860
General and administrative 27,567 25,480 53,173 47,080
Other operating expenses 2,037 1,944 3,038 3,632
Total operating expenses 259,338 235,218 517,077 470,099
Other expense, net:        
Interest expense, net 53,582 50,272 105,767 98,285
Provision for impairment of real estate   1,262   1,262
(Gain) Loss on sale of real estate, net of tax (268) 294 (7,462) 193
Net investment income (2,721) (788) (3,416) (27)
Total other expense, net 50,593 51,040 94,889 99,713
Income before equity in income of investments in real estate partnerships 103,579 94,590 213,997 191,948
Equity in income of investments in real estate partnerships 16,160 13,759 38,540 28,254
Net income 119,739 108,349 252,537 220,202
Noncontrolling interests:        
Limited partners' interests in consolidated partnerships (1,615) (1,742) (3,247) (3,366)
Net income attributable to noncontrolling interests (1,615) (1,742) (3,247) (3,366)
Net income attributable to the Company/ Partnership 118,124 106,607 249,290 216,836
Preferred unit distributions (3,413) (3,413) (6,826) (6,826)
Net income attributable to common unit holders $ 114,711 $ 103,194 $ 242,464 $ 210,010
Net income attributable to common shareholders:        
Per common unit - basic $ 0.61 $ 0.57 $ 1.30 $ 1.15
Per common unit - diluted $ 0.61 $ 0.56 $ 1.30 $ 1.15