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v3.26.1

Segment Reporting (Tables) | 3 Months Ended
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Mar. 31, 2026
Segment Reporting [Abstract] |
Segment Reporting | The following table details NOI and significant expenses for the three months ended March 31:
| Three Months Ended March 31, |  |  |  |
(in thousands) | 2026 |  | 2025 |  |  |  |  |  |
Property revenues | $ | 388,773 |  |  | $ | 390,565 |  |  |  |  |  |  |
Property expenses: |  |  |  |  |  |  |  |  |
Real estate taxes | (49,890) |  |  | (49,722) |  |  |  |  |  |  |
Salaries and benefits for on-site employees | (26,345) |  |  | (25,784) |  |  |  |  |  |  |
Utilities | (27,626) |  |  | (27,778) |  |  |  |  |  |  |
Repairs and maintenance | (16,750) |  |  | (16,713) |  |  |  |  |  |  |
Other property and maintenance expenses (a) | (19,458) |  |  | (19,423) |  |  |  |  |  |  |
Net operating income | $ | 248,704 |  |  | $ | 251,145 |  |  |  |  |  |  |
Non-property income | 1,237 |  |  | 3,695 |  |  |  |  |  |  |
Other segment expenses (b) | (85,370) |  |  | (30,472) |  |  |  |  |  |  |
Interest expense | (37,359) |  |  | (33,790) |  |  |  |  |  |  |
Depreciation and amortization | (150,000) |  |  | (149,252) |  |  |  |  |  |  |
Gain on sale of operating property, including land | 68,100 |  |  | — |  |  |  |  |  |  |
Income tax expense | (938) |  |  | (559) |  |  |  |  |  |  |
Net income | $ | 44,374 |  |  | $ | 40,767 |  |  |  |  |  |  |
(a) Other non-significant property segment expenses, include the following other property and maintenance expenses: property insurance, marketing and leasing, property general and administrative, and other property expenses. (b) Other expenses include property management, fee and asset management, general and administrative, (benefit)/expense on deferred compensation plans, and other non-operating expenses.

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- Definition Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 + Details
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