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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Rental revenue $ 152,470 $ 154,603 $ 306,352 $ 294,694
Observatory revenue 34,124 33,433 58,720 55,587
Third-party management and other fees 376 381 641 808
Other revenue and fees 2,573 2,125 5,009 4,075
Total revenues 189,543 190,542 370,722 355,164
Operating expenses:        
Property operating expenses 41,516 39,519 86,576 81,563
Ground rent expenses 2,332 2,332 4,663 4,663
General and administrative expenses 18,020 16,075 33,992 31,783
Observatory expenses 8,958 8,657 17,389 16,512
Real estate taxes 31,883 31,490 64,124 63,278
Depreciation and amortization 47,473 46,280 93,554 93,688
Total operating expenses 150,182 144,353 300,298 291,487
Total operating income 39,361 46,189 70,424 63,677
Other income (expense):        
Interest income 5,092 3,339 9,270 5,934
Interest expense (25,323) (25,405) (50,451) (50,709)
Interest expense associated with property in receivership (628) 0 (628) 0
Loss on early extinguishment of debt 0 0 (553) 0
Gain on disposition of property 10,803 13,565 10,803 29,261
Income before income taxes 29,305 37,688 38,865 48,163
Income tax (expense) benefit (750) (733) (95) 486
Net income 28,555 36,955 38,770 48,649
Private perpetual preferred unit distributions (1,051) (1,051) (2,101) (2,101)
Net (income) loss attributable to non-controlling interests in other partnerships 0 (1) (4) 42
Net income attributable to common unitholders $ 27,504 $ 35,903 $ 36,665 $ 46,590
Total weighted average units:        
Basic (in shares) 264,676 262,903 264,619 263,694
Diluted (in shares) 268,716 264,196 268,105 264,736
Earnings per unit attributable to common unitholders:        
Basic (in USD per share) $ 0.10 $ 0.14 $ 0.14 $ 0.18
Diluted (in USD per share) 0.10 0.14 0.14 0.18
Dividends per unit ((in USD per share) $ 0.035 $ 0.035 $ 0.070 $ 0.070