Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Lease revenue $ 165,433 $ 150,560
Other property revenue 1,230 1,121
Construction contract and other service revenues 26,603 15,820
Total revenues 193,266 167,501
Operating expenses    
Property operating expenses 66,746 59,420
Depreciation and amortization associated with real estate operations 38,351 36,995
Construction contract and other service expenses 26,007 15,201
General, administrative, leasing and other expenses 11,747 10,490
Total operating expenses 142,851 122,106
Interest expense (20,767) (16,442)
Interest and other income, net 4,122 2,256
Gain on sales of real estate 0 49,378
Income before equity in income (loss) of unconsolidated entities and income taxes 33,770 80,587
Equity in income (loss) of unconsolidated entities 69 (64)
Income tax expense (168) (125)
Net income 33,671 80,398
Net income attributable to noncontrolling interests:    
Common units in CDPLP (608) (1,293)
Other consolidated entities (454) (326)
Net income attributable to common shareholders $ 32,609 $ 78,779
Earnings per common share:    
Net income attributable to common shareholders - basic (in dollars per share) $ 0.29 $ 0.70
Net income attributable to common shareholders - diluted (in dollars per share) $ 0.29 $ 0.70