Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Operations

v3.25.3
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Lease revenue $ 178,272 $ 170,549 $ 529,178 $ 501,601
Other property revenue 2,038 2,014 6,186 4,710
Construction contract and other service revenues 8,485 16,662 31,202 63,523
Total revenues 188,795 189,225 566,566 569,834
Operating expenses        
Property operating expenses 70,356 68,881 209,311 199,037
Depreciation and amortization associated with real estate operations 40,631 38,307 119,563 114,819
Construction contract and other service expenses 7,952 16,127 29,530 61,746
General, administrative, leasing and other expenses 12,030 11,416 36,097 35,195
Total operating expenses 130,969 134,731 394,501 410,797
Interest expense (20,894) (20,376) (62,336) (61,760)
Interest and other income, net 2,591 3,324 5,382 10,330
Gain on sales of real estate 3,018 0 3,318 0
Income before equity in income of unconsolidated entities and income taxes 42,541 37,442 118,429 107,607
Equity in income of unconsolidated entities 1,815 85 2,541 180
Income tax expense (612) (130) (832) (312)
Net income 43,744 37,397 120,138 107,475
Net income attributable to noncontrolling interests        
Common units in CDPLP (924) (711) (2,496) (2,013)
Other consolidated entities (1,093) (601) (2,828) (1,654)
Net income attributable to common shareholders $ 41,727 $ 36,085 $ 114,814 $ 103,808
Earnings per common share        
Net income attributable to common shareholders - basic (in dollars per share) $ 0.37 $ 0.32 $ 1.02 $ 0.92
Net income attributable to common shareholders - diluted (in dollars per share) $ 0.37 $ 0.32 $ 1.01 $ 0.92