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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Single-family properties:    
Land $ 2,279,188 $ 2,234,301
Buildings and improvements 11,081,984 10,651,388
Single-family properties in operation 13,361,172 12,885,689
Less: accumulated depreciation (2,962,482) (2,719,970)
Single-family properties in operation, net 10,398,690 10,165,719
Single-family properties under development and development land 1,205,372 1,409,424
Single-family properties and land held for sale, net 218,969 182,082
Total real estate assets, net 11,823,031 11,757,225
Cash and cash equivalents 162,477 59,385
Restricted cash 155,372 162,476
Rent and other receivables 49,727 42,823
Escrow deposits, prepaid expenses and other assets 378,402 406,138
Investments in unconsolidated joint ventures 154,997 114,198
Asset-backed securitization certificates 0 25,666
Goodwill 120,279 120,279
Total assets 12,844,285 12,688,190
Liabilities    
Revolving credit facility 0 90,000
Asset-backed securitizations, net 927,099 1,871,421
Unsecured senior notes, net 3,591,714 2,500,226
Accounts payable and accrued expenses 629,868 573,660
Total liabilities 5,148,681 5,035,307
Commitments and contingencies (see Note 15)
Shareholders’ equity:    
Preferred shares ($0.01 par value per share, 100,000,000 shares authorized, 9,200,000 shares issued and outstanding at September 30, 2024 and December 31, 2023) 92 92
Additional paid-in capital 7,412,232 7,357,848
Accumulated deficit (407,251) (394,908)
Accumulated other comprehensive income 2,756 843
Total shareholders’ equity 7,011,494 6,967,524
Noncontrolling interest 684,110 685,359
Total equity 7,695,604 7,652,883
Total liabilities and equity/capital 12,844,285 12,688,190
Class A common shares    
Shareholders’ equity:    
Common stock issued 3,659 3,643
Class B common shares    
Shareholders’ equity:    
Common stock issued $ 6 $ 6