Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Operations

v3.26.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues        
Lease revenue $ 188,806 $ 175,598 $ 381,777 $ 350,906
Other property revenue 1,820 1,859 3,445 4,148
Construction contract and other service revenues 6,766 12,458 12,807 22,717
Total revenues 197,392 189,915 398,029 377,771
Operating expenses        
Property operating expenses 72,586 66,915 154,021 138,955
Depreciation and amortization associated with real estate operations 42,289 39,573 84,974 78,932
Construction contract and other service expenses 6,023 11,873 11,575 21,578
General, administrative, leasing, and other expenses 13,264 11,911 25,913 24,067
Total operating expenses 134,162 130,272 276,483 263,532
Interest expense (24,444) (20,938) (48,440) (41,442)
Interest and other income, net 2,973 1,223 6,928 2,791
Gain on sales of real estate 6,442 0 7,024 300
Income before equity in income of unconsolidated entities and income taxes 48,201 39,928 87,058 75,888
Equity in income of unconsolidated entities 392 355 1,798 726
Income tax expense (34) (117) (158) (220)
Net income 48,559 40,166 88,698 76,394
Net income attributable to noncontrolling interests        
Common units in CDPLP (1,038) (846) (1,850) (1,572)
Other consolidated entities (1,084) (973) (1,855) (1,735)
Net income attributable to common shareholders $ 46,437 $ 38,347 $ 84,993 $ 73,087
Earnings per common share        
Net income attributable to common shareholders - basic (in dollars per share) $ 0.41 $ 0.34 $ 0.75 $ 0.65
Net income attributable to common shareholders - diluted (in dollars per share) $ 0.40 $ 0.34 $ 0.74 $ 0.64