v3.24.3
Condensed Consolidated Statements of Equity (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Cumulative Distributions in Excess of Retained Earnings
Accumulated Other Comprehensive Loss
Non-controlling Interests
Beginning Balance at Dec. 31, 2022 $ 3,262,505 $ 47 $ 3,419,395 $ (386,049) $ 59,525 $ 169,587
Net income 41,374     39,304   2,070
Offering costs, discounts and commissions (2)   (2)      
Stock-based compensation, net of shares of restricted stock forfeited 1,879   1,879      
Retirement of shares of common stock under equity incentive plan (1,175)   (1,175)      
Conversion of OP Units to shares of common stock     14,897     (14,897)
Distributions declared (54,887)     (52,145)   (2,742)
Change in fair value of interest rate swap agreements (17,899)       (17,003) (896)
Realized loss on interest rate swap agreements 522       496 26
Adjustment to non-controlling interests     (460)   498 (38)
Ending Balance at Mar. 31, 2023 3,232,317 47 3,434,534 (398,890) 43,516 153,110
Beginning Balance at Dec. 31, 2022 3,262,505 47 3,419,395 (386,049) 59,525 169,587
Net income 156,515          
Conversion of OP Units to shares of common stock     15,316      
Change in fair value of interest rate swap agreements 15,696          
Ending Balance at Sep. 30, 2023 3,275,473 47 3,430,725 (393,571) 83,575 154,697
Beginning Balance at Mar. 31, 2023 3,232,317 47 3,434,534 (398,890) 43,516 153,110
Net income 62,996     60,014   2,982
Offering costs, discounts and commissions (10)   (10)      
Stock-based compensation, net of shares of restricted stock forfeited 1,539   1,539      
Conversion of OP Units to shares of common stock     398     (398)
Distributions declared (55,419)     (52,755)   (2,664)
Change in fair value of interest rate swap agreements 19,652       18,722 930
Realized loss on interest rate swap agreements 522       496 26
Adjustment to non-controlling interests   (5,769)   5,694 75
Ending Balance at Jun. 30, 2023 3,261,597 47 3,430,692 (391,631) 68,428 154,061
Net income 52,145     49,682   2,463
Stock-based compensation, net of shares of restricted stock forfeited 1,540   1,540      
Conversion of OP Units to shares of common stock     21     (21)
Distributions declared (54,274)     (51,622)   (2,652)
Change in fair value of interest rate swap agreements 13,943       13,284 659
Realized loss on interest rate swap agreements 522       497 25
Adjustment to non-controlling interests   (1,528)   1,366 162
Ending Balance at Sep. 30, 2023 3,275,473 47 3,430,725 (393,571) 83,575 154,697
Beginning Balance at Dec. 31, 2023 3,194,341 47 3,440,639 (440,731) 49,286 145,100
Net income 68,177     65,114   3,063
Issuance of shares of common stock 116   116      
Offering costs, discounts and commissions (36)   (36)      
Stock-based compensation, net of shares of restricted stock forfeited 1,475   1,475      
Retirement of shares of common stock under equity incentive plan (1,040)   (1,040)      
Conversion of OP Units to shares of common stock     1,536     (1,536)
Distributions declared (57,292)     (54,552)   (2,740)
Change in fair value of interest rate swap agreements 11,804       11,274 530
Realized loss on interest rate swap agreements 159       152 7
Adjustment to non-controlling interests     4,220   (3,878) (342)
Ending Balance at Mar. 31, 2024 3,217,704 47 3,446,910 (430,169) 56,834 144,082
Beginning Balance at Dec. 31, 2023 3,194,341 47 3,440,639 (440,731) 49,286 145,100
Net income 141,382          
Conversion of OP Units to shares of common stock     2,812      
Change in fair value of interest rate swap agreements (31,334)          
Ending Balance at Sep. 30, 2024 3,138,359 47 3,450,116 (467,922) 16,833 139,285
Beginning Balance at Mar. 31, 2024 3,217,704 47 3,446,910 (430,169) 56,834 144,082
Net income 35,937     35,329   608
Offering costs, discounts and commissions (200)   (200)      
Stock-based compensation, net of shares of restricted stock forfeited 2,073   2,073      
Contributions from non-controlling interests 1,000         1,000
Conversion of OP Units to shares of common stock     532     (532)
Distributions declared (57,710)     (55,053)   (2,657)
Change in fair value of interest rate swap agreements (1,456)       (1,391) (65)
Realized loss on interest rate swap agreements 62       59 3
Adjustment to non-controlling interests     (5,050)   4,881 169
Ending Balance at Jun. 30, 2024 3,197,410 47 3,444,265 (449,893) 60,383 142,608
Net income 37,268     35,608   1,660
Offering costs, discounts and commissions (107)   (107)      
Stock-based compensation, net of shares of restricted stock forfeited 1,829   1,829      
Conversion of OP Units to shares of common stock     744     (744)
Distributions declared (56,354)     (53,637)   (2,717)
Change in fair value of interest rate swap agreements (41,682)       (39,826) (1,856)
Realized loss on interest rate swap agreements (5)       (5)  
Adjustment to non-controlling interests     3,385   (3,719) 334
Ending Balance at Sep. 30, 2024 $ 3,138,359 $ 47 $ 3,450,116 $ (467,922) $ 16,833 $ 139,285