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Condensed Consolidated Statements Of Income And Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Real Estate [Abstract]        
Property revenues $ 387,232 $ 390,778 $ 1,157,523 $ 1,154,440
Property expenses        
Property operating and maintenance 95,940 91,011 275,110 264,038
Real estate taxes 47,420 49,094 145,684 148,345
Total property expenses 143,360 140,105 420,794 412,383
Non-property income        
Fee and asset management 1,707 1,077 5,597 2,373
Interest and other income 1,076 64 4,442 557
Income/(loss) on deferred compensation plans 8,248 (3,339) 15,140 5,417
Total non-property income/ (loss) 11,031 (2,198) 25,179 8,347
Other expenses        
Property management 9,817 7,891 29,057 24,939
Fee and asset management 623 444 1,541 1,277
General and administrative 18,845 15,543 53,692 46,762
Interest 32,486 33,006 97,250 99,427
Depreciation and amortization 145,844 144,359 436,540 429,857
Expense/(benefit) on deferred compensation plans 8,248 (3,339) 15,140 5,417
Total other expenses 215,863 197,904 633,220 607,679
Impairment associated with land development activities (40,988) 0 (40,988) 0
Loss on early retirement of debt 0 0 (921) (2,513)
Gain on sale of operating property 0 0 43,806 48,919
Income (loss) from continuing operations before income taxes (1,948) 50,571 130,585 189,131
Income tax expense (390) (752) (2,354) (2,753)
Net income (loss) (2,338) 49,819 128,231 186,378
Less income allocated to non-controlling interests (1,866) (1,856) (5,629) (5,399)
Net income (loss) attributable to common shareholders $ (4,204) $ 47,963 $ 122,602 $ 180,979
Earnings per share – basic $ (0.04) $ 0.44 $ 1.13 $ 1.66
Earnings per share – diluted $ (0.04) $ 0.44 $ 1.13 $ 1.66
Weighted average number of common shares outstanding – basic 108,426 108,683 108,513 108,638
Weighted average number of common shares outstanding – diluted 108,426 108,706 108,547 108,659
Condensed Consolidated Statements of Comprehensive Income        
Net income (loss) $ (2,338) $ 49,819 $ 128,231 $ 186,378
Other comprehensive income (loss)        
Unrealized gain on cash flow hedging activities 0 0 85 0
Reclassification of net loss on cash flow hedging activities, prior service cost and net loss on post retirement obligation 358 358 1,808 1,075
Comprehensive income (loss) (1,980) 50,177 130,124 187,453
Less income allocated to non-controlling interests (1,866) (1,856) (5,629) (5,399)
Comprehensive income (loss) attributable to common shareholders $ (3,846) $ 48,321 $ 124,495 $ 182,054