Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Operations

v3.26.3
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues        
Lease revenue $ 193,482 $ 178,272 $ 575,259 $ 529,178
Other property revenue 1,853 2,038 5,298 6,186
Construction contract and other service revenues 13,424 8,485 26,231 31,202
Total revenues 208,759 188,795 606,788 566,566
Operating expenses        
Property operating expenses 77,217 70,356 231,238 209,311
Depreciation and amortization associated with real estate operations 42,966 40,631 127,940 119,563
Construction contract and other service expenses 12,763 7,952 24,338 29,530
General, administrative, leasing, and other expenses 12,556 12,030 38,469 36,097
Total operating expenses 145,502 130,969 421,985 394,501
Interest expense (24,439) (20,894) (72,879) (62,336)
Interest and other income, net 2,984 2,591 9,912 5,382
Gain on sales of real estate 7,673 3,018 14,697 3,318
Income before equity in income of unconsolidated entities and income taxes 49,475 42,541 136,533 118,429
Equity in income of unconsolidated entities 415 1,815 2,213 2,541
Income tax expense (96) (612) (254) (832)
Net income 49,794 43,744 138,492 120,138
Net income attributable to noncontrolling interests        
Common units in CDPLP (1,069) (924) (2,919) (2,496)
Other consolidated entities (984) (1,093) (2,839) (2,828)
Net income attributable to common shareholders $ 47,741 $ 41,727 $ 132,734 $ 114,814
Earnings per common share        
Net income attributable to common shareholders - basic (in dollars per share) $ 0.42 $ 0.37 $ 1.17 $ 1.02
Net income attributable to common shareholders - diluted (in dollars per share) $ 0.41 $ 0.37 $ 1.15 $ 1.01