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Organization, Basis of Presentation and Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Schedule of earnings per common share The Company's earnings per common share are determined as follows (dollars in thousands, except per share data):
 For the three months ended September 30,For the nine months ended September 30,
 2024202320242023
Basic and diluted shares outstanding  
Weighted average common shares - basic142,038,838 141,838,841 141,981,920 141,128,506 
Weighted average DownREIT units outstanding— — — 4,670 
Effect of dilutive securities477,846 359,258 394,514 315,499 
Weighted average common shares - diluted142,516,684 142,198,099 142,376,434 141,448,675 
Calculation of Earnings per Common Share - basic  
Net income attributable to common stockholders$372,519 $172,031 $799,902 $686,856 
Net income allocated to unvested restricted shares(706)(309)(1,537)(1,229)
Net income attributable to common stockholders - basic$371,813 $171,722 $798,365 $685,627 
Weighted average common shares - basic142,038,838 141,838,841 141,981,920 141,128,506 
Earnings per common share - basic$2.62 $1.21 $5.62 $4.86 
Calculation of Earnings per Common Share - diluted  
Net income attributable to common stockholders$372,519 $172,031 $799,902 $686,856 
Add: noncontrolling interests of DownREIT unitholders in consolidated partnerships, including discontinued operations— — — 25 
Net income attributable to common stockholders - diluted$372,519 $172,031 $799,902 $686,881 
Weighted average common shares - diluted142,516,684 142,198,099 142,376,434 141,448,675 
Earnings per common share - diluted$2.61 $1.21 $5.62 $4.86 
Disaggregation of revenue
The following table details the Company’s revenue disaggregated by reportable operating segment, further discussed in Note 8, “Segment Reporting,” for the three and nine months ended September 30, 2024 and 2023. Segment information for total revenue excludes real estate assets that were sold from January 1, 2023 through September 30, 2024, or otherwise qualify as held for sale as of September 30, 2024, as described in Note 6, "Real Estate Disposition Activities" (dollars in thousands):

Same StoreOther
Stabilized
Development/
Redevelopment
Non-
allocated (1)
Total
For the three months ended September 30, 2024
Management, development and other fees and other ancillary items$— $— $— $1,716 $1,716 
Non-lease related revenue (2)1,996 1,429 104 — 3,529 
Total non-lease revenue1,996 1,429 104 1,716 5,245 
Lease income (3)675,583 30,217 20,004 — 725,804 
Total revenue$677,579 $31,646 $20,108 $1,716 $731,049 
For the three months ended September 30, 2023
Management, development and other fees and other ancillary items$— $— $— $1,934 $1,934 
Non-lease related revenue (2)3,057 1,268 40 — 4,365 
Total non-lease revenue3,057 1,268 40 1,934 6,299 
Lease income (3)654,516 19,485 1,548 — 675,549 
Total revenue$657,573 $20,753 $1,588 $1,934 $681,848 
Same StoreOther
Stabilized
Development/
Redevelopment
Non-
allocated (1)
Total
For the nine months ended September 30, 2024
Management, development and other fees and other ancillary items$— $— $— $5,342 $5,342 
Non-lease related revenue (2)7,033 4,047 352 — 11,432 
Total non-lease revenue7,033 4,047 352 5,342 16,774 
Lease income (3)2,006,338 80,231 41,565 — 2,128,134 
Total revenue$2,013,371 $84,278 $41,917 $5,342 $2,144,908 
For the nine months ended September 30, 2023
Management, development and other fees and other ancillary items$— $— $— $5,712 $5,712 
Non-lease related revenue (2)8,482 3,436 69 — 11,987 
Total non-lease revenue8,482 3,436 69 5,712 17,699 
Lease income (3)1,936,507 49,071 1,773 — 1,987,351 
Total revenue$1,944,989 $52,507 $1,842 $5,712 $2,005,050 
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(1)Represents third-party property management, developer fees and miscellaneous income and other ancillary items which are not allocated to a reportable segment.
(2)Amounts include revenue streams related to leasing activities that are not considered components of a lease, and revenue streams not related to leasing activities including, but not limited to, application fees, renters insurance fees and vendor revenue sharing.
(3)Represents residential and commercial rental and other lease income, as discussed above, under "Leases".