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Reportable Segments - Consolidated Net Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
--- | --- | --- | ---
Sep. 30, 2025 | Sep. 30, 2024 | Sep. 30, 2025 | Sep. 30, 2024 | Dec. 31, 2024
Segment Reporting Information |  |  |  |  |
Operations revenues | $ 393,314 | $ 387,256 | $ 1,157,514 | $ 1,153,843 |
Reconciliation to consolidated net income: |  |  |  |  |
Depreciation and amortization | (52,313) | (50,934) | (155,904) | (153,386) |
Income from other investments, net | 15,220 | 16,440 | 47,248 | 48,186 |
General and administrative | (8,791) | (9,274) | (28,485) | (30,248) |
Casualty-related charges/(recoveries), net | 3,748 | (591) | 4,072 | 20,422 |
Interest and related amortization | (33,659) | (36,497) | (96,995) | (106,077) |
Equity in income of unconsolidated joint ventures | 1,708 | 5,874 | 6,562 | 6,736 |
Early debt retirement | 0 | (30) | 0 | (30) |
Consolidated net income | 100,363 | 86,863 | 298,249 | 284,261 |
Total assets | 5,747,181 | 5,644,119 | 5,747,181 | 5,644,119 | $ 5,645,652
Capital improvements | 71,274 | 58,398 | 175,933 | 175,629 |
Property Operations |  |  |  |  |
Reconciliation to consolidated net income: |  |  |  |  |
Total assets | 5,478,166 | 5,397,984 | 5,478,166 | 5,397,984 |
Capital improvements | 66,072 | 55,690 | 165,585 | 165,791 |
Home Sales and Rentals Operations |  |  |  |  |
Reconciliation to consolidated net income: |  |  |  |  |
Total assets | 269,015 | 246,135 | 269,015 | 246,135 |
Capital improvements | 5,202 | 2,708 | 10,348 | 9,838 |
Operating Segments |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Operations revenues | 388,572 | 382,634 | 1,144,230 | 1,139,965 |
Operations expenses | (202,964) | (205,741) | (585,333) | (601,320) |
NOI | 185,608 | 176,893 | 558,897 | 538,645 |
Reconciliation to consolidated net income: |  |  |  |  |
Depreciation and amortization | (52,313) | (50,934) | (155,904) | (153,386) |
Gain/(Loss) on sale of real estate and impairment, net | 31 | (1,798) | (652) | (1,798) |
Operating Segments | Property Operations |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Operations revenues | 373,340 | 362,304 | 1,100,807 | 1,069,027 |
Operations expenses | (189,338) | (188,217) | (546,985) | (540,673) |
NOI | 184,002 | 174,087 | 553,822 | 528,354 |
Reconciliation to consolidated net income: |  |  |  |  |
Income from other investments, net | 15,220 | 16,440 | 47,248 | 48,186 |
Operating Segments | Home Sales and Rentals Operations |  |  |  |  |
Segment Reporting Information |  |  |  |  |
Operations revenues | 15,232 | 20,330 | 43,423 | 70,938 |
Operations expenses | (13,626) | (17,524) | (38,348) | (60,647) |
NOI | 1,606 | 2,806 | 5,075 | 10,291 |
Segment Reconciling Items |  |  |  |  |
Reconciliation to consolidated net income: |  |  |  |  |
Interest income | 2,770 | 2,430 | 7,210 | 7,018 |
Income from other investments, net | 1,972 | 2,192 | 6,074 | 6,860 |
General and administrative | (8,791) | (9,274) | (28,485) | (30,248) |
Casualty-related charges/(recoveries), net | 3,748 | (591) | 4,072 | 20,422 |
Other expenses | (711) | (1,402) | (2,530) | (3,881) |
Interest and related amortization | (33,659) | (36,497) | (96,995) | (106,077) |
Equity in income of unconsolidated joint ventures | $ 1,708 | 5,874 | $ 6,562 | $ 6,736 |
Early debt retirement |  | $ (30) |  |  |

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