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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities:    
Net income $ 120,584 $ 93,003
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 164,673 155,796
Share-based compensation expense 6,498 6,646
Amortization of deferred financing costs 3,911 3,538
Amortization of debt discounts 400 462
Provisions for impairment 178 101
(Gains) losses on investments in equity securities, net (88) 3,032
Gain on sale of property, net of tax (29,671) (18,026)
Change in fair value of derivative instruments 2,295 2,400
Loss from investments in unconsolidated joint ventures, net of operating distributions 4,949 2,432
Other non-cash amounts included in net income 1,056 2,656
Changes in operating assets and liabilities:    
Other assets, net (11,033) (1,059)
Accounts payable and accrued expenses 45,087 (15,291)
Resident security deposits 1,145 2,841
Other liabilities 7,807 (3,497)
Net cash provided by operating activities 317,791 235,034
Investing Activities:    
Amounts deposited and held by others (1,076) (16,822)
Acquisition of single-family residential properties (59,869) (202,534)
Initial renovations to single-family residential properties (5,319) (36,319)
Other capital expenditures for single-family residential properties (50,012) (40,850)
Proceeds from sale of single-family residential properties 87,855 48,364
Repayment proceeds from retained debt securities 158 202
Investments in equity securities (31,131) (10,887)
Proceeds from sale of investments in equity securities 0 5,762
Investments in unconsolidated joint ventures (250) (34,700)
Non-operating distributions from unconsolidated joint ventures 2,966 230
Other investing activities (13,163) (1,672)
Net cash used in investing activities (69,841) (289,226)
Financing Activities:    
Payment of dividends and dividend equivalents (160,287) (134,825)
Distributions to non-controlling interests (491) (580)
Payment of taxes related to net share settlement of RSUs (7,530) (10,972)
Payments on mortgage loans (4,375) (4,835)
Payments on secured term loan (234) 0
Proceeds from issuance of common stock, net 0 83,959
Other financing activities (664) (14,264)
Net cash used in financing activities (173,581) (81,517)
Change in cash, cash equivalents, and restricted cash 74,369 (135,709)
Cash, cash equivalents, and restricted cash, beginning of period (Note 4) 453,927 818,858
Cash, cash equivalents, and restricted cash, end of period (Note 4) 528,296 683,149
Supplemental cash flow disclosures:    
Interest paid, net of amounts capitalized 67,677 66,229
Cash paid for/(refund of) income taxes (22) 400
Operating cash flows from operating leases 1,523 1,557
Financing cash flows from finance leases 664 672
Non-cash investing and financing activities:    
Accrued renovation improvements at period end 990 11,307
Accrued residential property capital improvements at period end 8,041 11,097
Transfer of residential property, net to other assets, net for held for sale assets 35,449 18,723
Change in other comprehensive income from cash flow hedges (34,046) 204,873
ROU assets obtained in exchange for operating lease liabilities 31 485
ROU assets obtained in exchange for finance lease liabilities 646 190
Net settlement of 2022 Convertible Notes in shares of common stock $ 0 $ 141,219