CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Real estate:
Land and improvements	$ 4,720,331	$ 4,640,971
Buildings and improvements	19,438,195	18,804,510
Furniture, fixtures and equipment	1,303,959	1,174,135
Gross operating real estate	25,462,485	24,619,616
Less accumulated depreciation	(7,557,614)	(6,878,556)
Net operating real estate	17,904,871	17,741,060
Construction in progress, including land	1,268,915	1,072,543
Land held for development	199,062	179,204
Real estate assets held for sale, net	0	0
Total real estate, net	19,372,848	18,992,807
Cash and cash equivalents	397,890	613,189
Restricted cash	133,070	121,056
Unconsolidated investments	220,145	212,084
Deferred development costs	53,122	58,489
Prepaid expenses and other assets	366,465	316,808
Right of use lease assets	134,674	143,331
Total assets	20,678,214	20,457,764
LIABILITIES AND EQUITY
Unsecured notes, net	7,256,152	7,602,305
Variable rate unsecured credit facility and commercial paper, net	0	0
Mortgage notes payable, net	725,670	713,740
Dividends payable	238,072	226,022
Payables for construction	87,703	72,802
Accrued expenses and other liabilities	310,868	306,186
Lease liabilities	153,232	162,671
Accrued interest payable	57,911	54,100
Resident security deposits	63,815	63,700
Total liabilities	8,893,423	9,201,526
Commitments and contingencies
Redeemable noncontrolling interests	1,473	2,685
Equity:
Preferred stock, $0.01 par value; $25 liquidation preference; 50,000,000 shares authorized at December 31, 2023 and December 31, 2022; zero shares issued and outstanding at December 31, 2023 and December 31, 2022	0	0
Common stock, $0.01 par value; 280,000,000 shares authorized at December 31, 2023 and December 31, 2022; 142,025,456 and 139,916,864 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively	1,420	1,400
Additional paid-in capital	11,287,549	10,765,431
Accumulated earnings less dividends	478,156	485,221
Accumulated other comprehensive income	16,116	1,424
Total stockholders' equity	11,783,241	11,253,476
Noncontrolling interests	77	77
Total equity	11,783,318	11,253,553
Total liabilities and equity	$ 20,678,214	$ 20,457,764