Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Operations

v3.25.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Lease revenue $ 175,598 $ 165,619 $ 350,906 $ 331,052
Other property revenue 1,859 1,466 4,148 2,696
Construction contract and other service revenues 12,458 20,258 22,717 46,861
Total revenues 189,915 187,343 377,771 380,609
Operating expenses        
Property operating expenses 66,915 63,410 138,955 130,156
Depreciation and amortization associated with real estate operations 39,573 38,161 78,932 76,512
Construction contract and other service expenses 11,873 19,612 21,578 45,619
General, administrative, leasing and other expenses 11,911 12,032 24,067 23,779
Total operating expenses 130,272 133,215 263,532 276,066
Interest expense (20,938) (20,617) (41,442) (41,384)
Interest and other income, net 1,223 2,884 2,791 7,006
Gain on sales of real estate 0 0 300 0
Income before equity in income of unconsolidated entities and income taxes 39,928 36,395 75,888 70,165
Equity in income of unconsolidated entities 355 26 726 95
Income tax expense (117) (14) (220) (182)
Net income 40,166 36,407 76,394 70,078
Net income attributable to noncontrolling interests        
Common units in CDPLP (846) (694) (1,572) (1,302)
Other consolidated entities (973) (599) (1,735) (1,053)
Net income attributable to common shareholders $ 38,347 $ 35,114 $ 73,087 $ 67,723
Earnings per common share        
Net income attributable to common shareholders - basic (in dollars per share) $ 0.34 $ 0.31 $ 0.65 $ 0.60
Net income attributable to common shareholders - diluted (in dollars per share) $ 0.34 $ 0.31 $ 0.64 $ 0.60