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 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Lease revenue $ 165,619 $ 153,682 $ 331,052 $ 304,242
Other property revenue 1,466 1,271 2,696 2,392
Construction contract and other service revenues 20,258 14,243 46,861 30,063
Total revenues 187,343 169,196 380,609 336,697
Operating expenses        
Property operating expenses 63,410 61,600 130,156 121,020
Depreciation and amortization associated with real estate operations 38,161 37,600 76,512 74,595
Construction contract and other service expenses 19,612 13,555 45,619 28,756
General, administrative, leasing and other expenses 12,032 10,358 23,779 20,848
Total operating expenses 133,215 123,113 276,066 245,219
Interest expense (20,617) (16,519) (41,384) (32,961)
Interest and other income, net 2,884 2,143 7,006 4,399
Gain on sales of real estate 0 14 0 49,392
Income before equity in income of unconsolidated entities and income taxes 36,395 31,721 70,165 112,308
Equity in income of unconsolidated entities 26 111 95 47
Income tax expense (14) (190) (182) (315)
Net income 36,407 31,642 70,078 112,040
Net income attributable to noncontrolling interests:        
Common units in CDPLP (694) (516) (1,302) (1,809)
Other consolidated entities (599) (839) (1,053) (1,165)
Net income attributable to common shareholders $ 35,114 $ 30,287 $ 67,723 $ 109,066
Earnings per common share:        
Net income attributable to common shareholders - basic (in dollars per share) $ 0.31 $ 0.27 $ 0.60 $ 0.97
Net income attributable to common shareholders - diluted (in dollars per share) $ 0.31 $ 0.27 $ 0.60 $ 0.96