v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenue:    
Rental and other income $ 744,138 $ 711,064
Management, development and other fees 1,742 1,795
Total revenue 745,880 712,859
Expenses:    
Operating expenses, excluding property taxes 187,030 175,916
Property taxes 81,831 79,780
Expensed transaction, development and other pursuit costs, net of recoveries 4,744 4,245
Interest expense, net 59,864 54,766
Depreciation expense 217,888 212,269
General and administrative expense 19,780 20,331
Casualty and impairment loss 0 2,935
Total expenses 571,137 550,242
(Loss) income from unconsolidated investments (999) 7,729
Structured Investment Program interest income 6,113 3,118
Gain (loss) on sale of communities 56,469 (70)
Other real estate activity 155 141
Income before income taxes 236,481 173,535
Income tax benefit 116 22
Net income 236,597 173,557
Net income attributable to noncontrolling interests 0 (108)
Net income attributable to common stockholders 236,597 173,449
Other comprehensive income:    
(Loss) gain on cash flow hedges (3,597) 7,339
Cash flow hedge (gains) losses reclassified to earnings (273) 146
Comprehensive income $ 232,727 $ 180,934
Earnings per common share - basic:    
Net income attributable to common stockholders (in dollars per share) $ 1.66 $ 1.22
Earnings per common share - diluted:    
Net income attributable to common stockholders (in dollars per share) $ 1.66 $ 1.22

Source