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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Revenues $ 373,640 $ 356,524 $ 1,115,808 $ 1,048,773
Expenses:        
Property operating expenses 309,697 298,432 921,366 870,740
Depreciation and amortization 68,959 67,236 207,449 200,430
General and administrative 13,933 6,954 27,763 20,111
Acquisition and certain other transaction related costs 331 3,676 2,243 9,812
Impairment of assets 23,031 1,156 41,718 18,380
Total expenses 415,951 377,454 1,200,539 1,119,473
Gain (loss) on sale of properties 111 0 (18,976) 1,233
Gains on equity securities, net 0 0 0 8,126
Interest and other income 2,575 3,243 7,215 12,572
Interest expense (including net amortization of debt discounts, premiums and issuance costs of $26,188, $2,293, $76,642 and $6,616, respectively) (59,443) (47,758) (175,721) (142,922)
Loss on modification or early extinguishment of debt 0 0 (209) (1,075)
Loss before income tax expense and equity in net earnings (losses) of investees (99,068) (65,445) (272,422) (192,766)
Income tax expense (148) (189) (505) (379)
Equity in net earnings (losses) of investees 527 (145) (9,882) 2,137
Net loss (98,689) (65,779) (282,809) (191,008)
Other comprehensive income:        
Equity in unrealized gains of an investee 34 0 8 0
Other comprehensive income 34 0 8 0
Comprehensive loss $ (98,655) $ (65,779) $ (282,801) $ (191,008)
Weighted average common shares outstanding (basic) (in shares) 239,667 238,892 239,396 238,722
Weighted average common shares outstanding (diluted) (in shares) 239,667 238,892 239,396 238,722
Per common share amounts (basic and diluted):        
Net loss - basic (in dollars per share) $ (0.41) $ (0.28) $ (1.18) $ (0.80)
Net loss - diluted (in dollars per share) $ (0.41) $ (0.28) $ (1.18) $ (0.80)
Affiliated Entity        
Expenses:        
Equity in net earnings (losses) of investees $ 527 $ (145) $ (9,882) $ 2,137
Rental income        
Revenues:        
Revenues 61,635 63,390 187,155 191,201
Residents fees and services        
Revenues:        
Revenues $ 312,005 $ 293,134 $ 928,653 $ 857,572