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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Statement [Abstract]        
Revenue, Product and Service [Extensible List] Service [Member] Service [Member] Service [Member] Service [Member]
REVENUES        
Rental income (Note 8) $ 285,071 $ 275,919 $ 551,315 $ 550,809
Other property income 4,821 4,812 9,421 8,503
Total revenues 289,892 280,731 560,736 559,312
EXPENSES        
Property expenses 58,575 59,279 117,289 116,599
Real estate taxes 26,765 29,009 55,130 58,248
Ground leases 3,019 2,996 6,039 5,748
General and administrative expenses (Note 7) 18,475 18,824 35,376 36,116
Leasing costs 2,277 2,119 5,150 4,398
Depreciation and amortization 87,625 87,151 174,744 175,182
Total expenses 196,736 199,378 393,728 396,291
OTHER INCOME (EXPENSES)        
Interest income 512 10,084 1,646 23,274
Interest expense (Note 4) (30,844) (36,763) (61,992) (75,634)
Other income (expense) (Note 1) 190 (127) 33 (414)
Gain on sale of depreciable operating property (Note 2) 16,554 0 16,554 0
Total other expenses (13,588) (26,806) (43,759) (52,774)
NET INCOME 79,568 54,547 123,249 110,247
Net income attributable to noncontrolling common units of the Operating Partnership (663) (458) (1,038) (960)
Net income attributable to noncontrolling interests in consolidated property partnerships (10,456) (4,878) (14,754) (10,156)
Total income attributable to noncontrolling interests (11,119) (5,336) (15,792) (11,116)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 68,449 $ 49,211 $ 107,457 $ 99,131
Net income available to common stockholders per share – basic (in dollars per share) $ 0.58 $ 0.41 $ 0.91 $ 0.83
Net income available to common stockholders per share – diluted (in dollars per share) $ 0.57 $ 0.41 $ 0.90 $ 0.83
Weighted average shares of common stock outstanding – basic (in shares) 118,285,328 117,375,262 118,240,208 117,356,464
Weighted average shares of common stock outstanding – diluted (in shares) 118,683,337 117,663,190 118,673,935 117,810,298