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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Real estate:    
Land and improvements $ 4,604,654 $ 4,564,723
Buildings and improvements 18,467,287 18,198,584
Furniture, fixtures and equipment 1,093,649 1,036,640
Gross operating real estate 24,165,590 23,799,947
Less accumulated depreciation (6,542,795) (6,208,610)
Net operating real estate 17,622,795 17,591,337
Construction in progress, including land 800,663 807,101
Land held for development 194,458 147,546
For-sale condominium inventory 73,622 146,535
Real estate assets held for sale, net 107,118 17,065
Total real estate, net 18,798,656 18,709,584
Cash and cash equivalents 152,522 420,251
Cash in escrow 107,669 123,537
Resident security deposits 36,252 33,757
Investments in unconsolidated entities 222,438 216,390
Deferred development costs 51,227 40,414
Prepaid expenses and other assets 252,839 211,484
Right of use lease assets 147,174 146,599
Total assets 19,768,777 19,902,016
LIABILITIES AND EQUITY    
Unsecured notes, net 7,252,785 7,349,394
Variable rate unsecured credit facility and commercial paper 0 0
Mortgage notes payable, net 748,408 754,153
Dividends payable 225,014 225,392
Payables for construction 58,698 63,722
Accrued expenses and other liabilities 279,985 296,006
Lease liabilities 166,519 166,497
Accrued interest payable 52,249 50,300
Resident security deposits 62,951 59,787
Liabilities related to real estate assets held for sale 1,227 304
Total liabilities 8,847,836 8,965,555
Commitments and contingencies
Redeemable noncontrolling interests 2,930 3,368
Equity:    
Preferred stock, $0.01 par value; $25 liquidation preference; 50,000,000 shares authorized at June 30, 2022 and December 31, 2021; zero shares issued and outstanding at June 30, 2022 and December 31, 2021 0 0
Common stock, $0.01 par value; 280,000,000 shares authorized at June 30, 2022 and December 31, 2021; 139,829,896 and 139,751,926 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively 1,399 1,398
Additional paid-in capital 10,727,193 10,716,414
Accumulated earnings less dividends 195,035 240,821
Accumulated other comprehensive loss (6,166) (26,106)
Total stockholders' equity 10,917,461 10,932,527
Noncontrolling interests 550 566
Total equity 10,918,011 10,933,093
Total liabilities and equity $ 19,768,777 $ 19,902,016