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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
REVENUES                      
Rental income                 $ 489,043 $ 449,601 $ 392,476
Other property related income                 55,001 50,255 45,189
Property management fee income                 14,899 10,183 6,856
Total revenues $ 143,482 $ 143,865 $ 138,559 $ 133,037 $ 132,546 $ 132,096 $ 126,526 $ 118,871 558,943 510,039 444,521
OPERATING EXPENSES                      
Property operating expenses                 181,508 165,847 153,172
Depreciation and amortization                 145,681 161,865 151,789
General and administrative                 34,745 32,823 28,371
Acquisition related costs                 1,294 6,552 3,301
Total operating expenses 87,971 91,586 91,025 92,646 90,848 92,585 93,509 90,145 363,228 367,087 336,633
OPERATING INCOME                 195,715 142,952 107,888
Interest:                      
Interest expense on loans                 (56,952) (50,399) (43,736)
Loan procurement amortization expense                 (2,638) (2,577) (2,324)
Equity in losses of real estate ventures                 (1,386) (2,662) (411)
Gain from sale of real estate, net                     17,567
Other                 872 1,062 (228)
Total other expense                 (60,104) (54,576) (29,132)
INCOME FROM CONTINUING OPERATIONS                 135,611 88,376 78,756
NET INCOME                 135,611 88,376 78,756
NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS                      
Noncontrolling interests in the Operating Partnership                 (1,593) (941) (960)
Noncontrolling interest in subsidiaries                 270 470 (84)
NET INCOME ATTRIBUTABLE TO THE COMPANY $ 39,547 $ 37,297 $ 32,458 $ 24,986 $ 26,847 $ 24,884 $ 20,424 $ 15,750 134,288 87,905 77,712
Distribution to preferred shareholders                   (5,045) (6,008)
Preferred share redemption charge                   (2,937)  
NET INCOME ATTRIBUTABLE TO THE COMPANY'S COMMON SHAREHOLDERS                 $ 134,288 $ 79,923 $ 71,704
Basic earnings per share attributable to common shareholders (in dollars per share) $ 0.22 $ 0.21 $ 0.18 $ 0.14 $ 0.13 $ 0.13 $ 0.11 $ 0.08 $ 0.74 $ 0.45 $ 0.43
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 0.22 $ 0.21 $ 0.18 $ 0.14 $ 0.13 $ 0.13 $ 0.11 $ 0.08 $ 0.74 $ 0.45 $ 0.42
Weighted-average basic shares outstanding (in shares)                 180,525 178,246 168,640
Weighted-average diluted shares outstanding (in shares)                 181,448 179,533 170,191