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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Rents and other single-family property revenues $ 445,055     $ 421,697     $ 1,292,104 $ 1,214,948
Expenses:                
General and administrative expense 19,247     18,336     62,825 56,128
Interest expense 43,611     34,381     120,866 105,107
Acquisition and other transaction costs 2,605     3,399     8,866 12,650
Depreciation and amortization 119,691     114,863     353,020 340,779
Hurricane-related charges, net 3,904     0     3,904 0
Total expenses 393,062     368,805     1,122,666 1,063,577
Gain on sale and impairment of single-family properties and other, net 32,697     33,335     145,490 180,752
Loss on early extinguishment of debt (5,306)     0     (6,323) 0
Other income and expense, net 8,256     1,865     15,664 9,082
Net income 87,640 $ 108,534 $ 128,095 88,092 $ 115,414 $ 137,699 324,269 341,205
Noncontrolling interest 10,333     10,493     38,559 41,140
Dividends on preferred shares 3,486 $ 3,486 $ 3,486 3,486 $ 3,486 $ 3,486 10,458 10,458
Net income attributable to common shareholders/unitholders $ 73,821     $ 74,113     $ 275,252 $ 289,607
Weighted-average common shares outstanding:                
Basic (in shares) 366,981,466     362,426,273     366,757,369 361,665,436
Diluted (in shares) 367,600,636     362,924,932     367,294,979 362,121,128
Net income attributable to common shareholders per share:                
Basic (in dollars per share) $ 0.20     $ 0.20     $ 0.75 $ 0.80
Diluted (in dollars per share) $ 0.20     $ 0.20     $ 0.75 $ 0.80
Property operating expenses                
Expenses:                
Cost of goods and services sold $ 172,031     $ 167,041     $ 477,428 $ 456,662
Property management expenses                
Expenses:                
Cost of goods and services sold $ 31,973     $ 30,785     $ 95,757 $ 92,251