v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue:    
Rental and other income $ 768,446 $ 744,138
Management, development and other fees 1,833 1,742
Total revenue 770,279 745,880
Expenses:    
Operating expenses, excluding property taxes 198,419 187,030
Property taxes 90,109 81,831
Expensed transaction, development and other pursuit costs, net of recoveries 3,416 4,744
Interest expense, net 71,489 59,864
Depreciation expense 233,104 217,888
General and administrative expense 22,077 19,780
Casualty and impairment loss 4,619 0
Total expenses 623,233 571,137
Loss from unconsolidated investments (6,527) (999)
Structured Investment Program interest income 7,481 6,113
Gain on sale of communities 179,912 56,469
Other real estate activity 84 155
Income before income taxes 327,996 236,481
Income tax benefit 294 116
Net income 328,290 236,597
Net income attributable to noncontrolling interests (2,560) 0
Net income attributable to common stockholders $ 325,730 $ 236,597
Comprehensive income attributable to common stockholders    
Net income attributable to common stockholders (in dollars per share) $ 2.33 $ 1.66
Net income attributable to common stockholders    
Net income attributable to common stockholders (in dollars per share) $ 2.33 $ 1.66

Source

10-Q PDF
XBRL