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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities:    
Net income $ 142,786 $ 120,584
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 175,313 164,673
Share-based compensation expense 7,900 6,498
Amortization of deferred financing costs 4,200 3,911
Amortization of debt discounts 660 400
Provisions for impairment 60 178
(Gains) losses on investments in equity securities, net 209 (88)
Gain on sale of property, net of tax (50,498) (29,671)
Change in fair value of derivative instruments 2,322 2,295
Loss from investments in unconsolidated joint ventures, net of operating distributions 5,740 4,949
Other non-cash amounts included in net income 1,169 1,056
Changes in operating assets and liabilities:    
Other assets, net (60,793) (11,033)
Accounts payable and accrued expenses 41,779 45,087
Resident security deposits (258) 1,145
Other liabilities (5,004) 7,807
Net cash provided by operating activities 265,585 317,791
Investing Activities:    
Amounts deposited and held by others 4,504 (1,076)
Acquisition of single-family residential properties (109,988) (59,869)
Initial renovations to single-family residential properties (8,469) (5,319)
Other capital expenditures for single-family residential properties (44,486) (50,012)
Proceeds from sale of single-family residential properties 131,945 87,855
Repayment proceeds from retained debt securities 226 158
Investments in equity securities (388) (31,131)
Investments in unconsolidated joint ventures (747) (250)
Non-operating distributions from unconsolidated joint ventures 3,843 2,966
Other investing activities (1,336) (13,163)
Net cash used in investing activities (24,896) (69,841)
Financing Activities:    
Payment of dividends and dividend equivalents (173,235) (160,287)
Distributions to non-controlling interests (553) (491)
Payment of taxes related to net share settlement of RSUs (9,931) (7,530)
Payments on mortgage loans (5,799) (4,375)
Payments on secured term loan 0 (234)
Other financing activities (1,249) (664)
Net cash used in financing activities (190,767) (173,581)
Change in cash, cash equivalents, and restricted cash 49,922 74,369
Cash, cash equivalents, and restricted cash, beginning of period (Note 4) 897,484 453,927
Cash, cash equivalents, and restricted cash, end of period (Note 4) 947,406 528,296
Supplemental cash flow disclosures:    
Interest paid, net of amounts capitalized 89,012 67,677
Interest capitalized as investments in single-family residential properties, net 719 451
Cash refund of income taxes (52) (22)
Operating cash flows from operating leases 1,738 1,523
Financing cash flows from finance leases 1,249 664
Non-cash investing and financing activities:    
Accrued renovation improvements at period end 1,087 990
Accrued residential property capital improvements at period end 5,799 8,041
Transfer of residential property, net to other assets, net for held for sale assets 36,349 35,449
Change in other comprehensive income from cash flow hedges 8,852 (34,046)
ROU assets obtained in exchange for operating lease liabilities 161 31
ROU assets obtained in exchange for finance lease liabilities $ 3,058 $ 646