7Baggers
Quarterly
Annual
    Unit: USD2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 
      
    		                
      operating activities:
    		                
      net income
    		71,130,000 32,865,000 43,178,000 50,276,000 52,554,000 33,983,000 39,405,000 21,169,000 25,714,000 1,041,000 -14,188,000 -17,580,000 -46,454,000 -22,510,000 5,529,000 -42,391,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                
      depreciation and amortization
    		142,090,000 138,147,000 137,266,000 135,027,000 133,764,000 133,315,000 133,031,000 133,609,000 130,220,000 139,371,000 146,450,000 144,500,000 107,020,000 67,466,000 67,515,000 67,577,000 
      share-based compensation expense
    		4,797,000 6,086,000 2,106,000 4,101,000 4,311,000 4,625,000 3,615,000 5,607,000 5,917,000 6,068,000 8,016,000 9,498,000 16,739,000 12,004,000 8,216,000 44,244,000 
      amortization of deferred financing costs
    		7,675,000 3,800,000 6,401,000 7,952,000 9,873,000 9,228,000 10,008,000 10,150,000 9,366,000 8,147,000 5,683,000 3,995,000 2,721,000 3,195,000 5,028,000 11,327,000 
      amortization of debt discounts
    		1,381,000 1,380,000 1,349,000 1,348,000 1,317,000 1,317,000 2,345,000 2,364,000 2,308,000 2,308,000 2,254,000 2,254,000     
      provisions for impairment
    		376,000 289,000 1,442,000 2,471,000 2,921,000 3,960,000 4,076,000 3,253,000 3,139,000 1,296,000 1,671,000 603,000 675,000 424,000 95,000 1,037,000 
      (gains) losses on investments in equity and other securities
    		                
      gains on sale of property, net of tax
    		                
      change in fair value of derivative instruments
    		4,719,000 1,703,000 1,616,000 1,091,000 -97,000 -160,000 -181,000 2,351,000 3,241,000 2,946,000 3,606,000 2,246,000 1,853,000 190,000 50,000 3,752,000 
      losses from investments in unconsolidated joint ventures, net of operating distributions
    		                
      other non-cash amounts included in net income
    		1,474,000 2,163,000               
      changes in operating assets and liabilities:
    		                
      other assets
    		-15,712,000 -8,012,000 -3,501,000 -10,787,000 -6,672,000 5,605,000 -10,127,000 304,000 -2,388,000 -4,027,000 15,722,000 -23,390,000 4,006,000 -6,047,000 7,342,000 -15,906,000 
      accounts payable and accrued expenses
    		-110,011,000 65,359,000 22,146,000 -4,534,000 -90,541,000 46,977,000 23,769,000 25,002,000 -109,998,000 53,667,000 18,768,000 10,920,000 -81,711,000 47,363,000 7,847,000 16,207,000 
      resident security deposits
    		2,065,000 1,671,000 4,040,000 2,373,000 -1,236,000 -2,972,000 1,323,000 1,677,000 -2,310,000 -770,000 1,873,000 3,513,000 818,000 195,000 989,000 1,279,000 
      other liabilities
    		997,000 -3,610,000 10,530,000 932,000 1,407,000 -2,306,000 -1,780,000 2,271,000 6,559,000 -4,075,000 -8,163,000 -2,668,000 -10,526,000 -71,000 -1,226,000 412,000 
      net cash from operating activities
    		71,040,000 229,737,000 218,214,000 177,721,000 71,282,000 215,506,000 182,159,000 193,183,000 48,160,000 202,746,000 180,255,000 130,080,000 -7,478,000 100,041,000 96,365,000 70,861,000 
      investing activities:
    		                
      deposits for acquisition of single-family residential properties
    		                
      acquisition of single-family residential properties
    		-284,282,000 -157,514,000 -42,430,000 -137,471,000 -180,933,000 -158,836,000 -190,848,000 -55,458,000 -67,906,000 -64,336,000 -71,663,000 -48,486,000 -74,345,000 -69,522,000   
      initial renovations to single-family residential properties
    		-27,103,000 -10,043,000 -30,581,000 -31,042,000 -22,420,000 -16,268,000 -9,105,000 -9,644,000 -9,950,000 -10,033,000 -8,930,000 -16,820,000 -21,125,000 -8,474,000 -6,171,000 -6,855,000 
      other capital expenditures for single-family residential properties
    		-44,582,000 -43,677,000 -43,805,000 -40,220,000 -45,821,000 -48,262,000 -40,669,000 -29,492,000 -36,888,000 -43,884,000 -29,683,000 -31,233,000 -24,446,000 -12,877,000 -10,333,000 -10,800,000 
      proceeds from sale of single-family residential properties
    		76,441,000 109,758,000 105,410,000 123,318,000 362,359,000 156,701,000           
      repayment proceeds from retained debt securities
    		63,973,000 1,346,000 1,248,000 5,539,000 9,926,000 4,347,000 27,246,000 8,441,000 74,367,000 90,455,000 59,099,000 114,000 48,376,000 0   
      investments in equity securities
    		                
      proceeds from sale of investments in equity securities
    		                
      investments in unconsolidated joint ventures
    		                
      non-operating distributions from unconsolidated joint ventures
    		                
      other investing activities
    		-2,023,000 38,000 -110,000 -93,000 509,000 1,162,000 3,372,000 -209,000 2,914,000 161,000 946,000 -9,260,000     
      net cash from investing activities
    		-230,781,000 -104,871,000 -8,762,000 -80,742,000 128,797,000 -65,762,000 -15,836,000 55,027,000 204,027,000 48,340,000 -87,376,000 -101,998,000 64,711,000 -85,928,000 -37,035,000 111,534,000 
      financing activities:
    		                
      payment of dividends and dividend equivalents
    		-84,500,000 -84,195,000 -81,682,000 -81,774,000 -69,917,000 -70,465,000 -68,334,000 -67,965,000 -57,518,000 -57,563,000 -57,559,000 -57,432,000     
      distributions to non-controlling interests
    		-534,000 -535,000 -534,000 -534,000 -464,000 -724,000 -711,000 -1,175,000 -995,000 -992,000 -996,000 -1,037,000     
      payment of taxes related to net share settlement of rsus
    		-1,054,000 -12,000 -190,000 -3,171,000 0 -56,000 -1,385,000 -6,723,000 -835,000 -989,000 -823,000 -6,598,000     
      payments on mortgage loans
    		-1,276,835,000 -26,114,000 -24,290,000 -107,387,000 -199,006,000 -89,032,000 -528,571,000 -180,812,000 -1,163,298,000 -217,708,000 -2,325,319,000 -873,269,000 -864,386,000 -3,610,000 -1,052,541,000 -1,030,471,000 
      payments on secured term loan
    		0 0               
      proceeds from unsecured notes
    		                
      proceeds from term loan facility
    		            0 0 0 1,500,000,000 
      payments on term loan facility
    		                
      proceeds from revolving facility
    		0 0 0 320,000,000 270,000,000 80,000,000 115,000,000 20,000,000 75,000,000 110,000,000       
      payments on revolving facility
    		0 0 -270,000,000 -50,000,000 -270,000,000 -80,000,000 -115,000,000 -20,000,000 -75,000,000 -110,000,000 -115,000,000 -20,000,000     
      proceeds from issuance of common stock
    		182,925,000 0 447,877,000 55,921,000             
      deferred financing costs paid
    		    0 0   -13,189,000 -3,000 -30,719,000 -11,770,000 -12,511,000 0 -17,609,000 -24,456,000 
      other financing activities
    		-15,990,000 -715,000 -714,000 -484,000 -8,386,000 -246,000 -136,000 -108,000 -305,000 -113,000 -897,000 -361,000     
      net cash from financing activities
    		-237,399,000 -111,571,000 70,366,000 132,571,000 -240,247,000 -142,786,000 -198,286,000 -256,783,000 -275,836,000 -277,368,000 -73,705,000 -53,896,000 -11,796,000 -38,606,000 -92,846,000 -188,064,000 
      change in cash, cash equivalents, and restricted cash
    		-397,140,000 13,295,000 279,818,000 229,550,000 -40,168,000 6,958,000 -31,963,000 -8,573,000 -23,649,000 -26,282,000 19,174,000 -25,814,000     
      cash, cash equivalents, and restricted cash, beginning of period
    		0 0 0 286,245,000 0 0 0 359,991,000 0 0 0 416,562,000     
      cash, cash equivalents, and restricted cash, end of period
    		-397,140,000 13,295,000 279,818,000 515,795,000 -40,168,000 6,958,000 -31,963,000 351,418,000 -23,649,000 -26,282,000 19,174,000 390,748,000     
      supplemental cash flow disclosures:
    		                
      interest paid, net of amounts capitalized
    		        76,966,000 84,092,000 87,118,000 87,797,000 62,252,000 53,493,000 56,916,000 53,645,000 
      interest capitalized as investments in single-family residential properties
    		                
      cash paid for income taxes
    		        500,000 196,000 702,000 671,000 538,000 0   
      cash paid for amounts included in the measurement of lease liabilities:
    		                
      operating cash flows from operating leases
    		                
      financing cash flows from finance leases
    		                
      non-cash investing and financing activities:
    		                
      accrued renovation improvements at period end
    		        1,288,000 -313,000 467,000 5,747,000 3,178,000 1,669,000 248,000 3,620,000 
      accrued residential property capital improvements at period end
    		        -2,501,000 811,000 3,030,000 5,849,000 2,856,000 672,000 1,477,000 2,277,000 
      deferred payment for acquisition of single-family residential properties
    		                
      transfer of residential property, net to other assets, net for held for sale assets
    		        70,105,000 277,012,000 34,715,000 59,173,000 24,750,000    
      change in other comprehensive income from cash flow hedges
    		        -170,707,000 30,571,000 9,378,000 57,516,000 38,457,000 3,595,000 -8,700,000 13,272,000 
      rou assets obtained in exchange for operating lease liabilities
    		                
      rou assets obtained in exchange for finance lease liabilities
    		                
      dividends declared but not paid
    		                
      net settlement of 2022 convertible notes in shares of common stock
    		                
      (gains) losses on investments in equity securities
    		                
      gain on sale of property, net of tax
    		-13,121,000 -15,106,000 -11,167,000 -15,200,000 -31,780,000 -20,812,000 -26,172,000 -17,572,000 -28,727,000 -11,512,000 -3,941,000 -5,502,000 -5,657,000 -3,756,000 -10,162,000 -14,321,000 
      amortization of deferred leasing costs
    		2,903,000 3,002,000 2,972,000 2,856,000 2,913,000 2,648,000 2,481,000 2,579,000 2,709,000 2,716,000 2,989,000 2,844,000 2,894,000 3,023,000 3,087,000 3,139,000 
      (income) income from investments in unconsolidated joint ventures, net of operating distributions
    		                
      proceeds from secured term loan
    		    0 0           
      net settlement of 2019 convertible notes in shares of common stock
    		                
      unrealized gains on investments in equity securities
    		                
      amounts deposited and held by others
    		3,140,000 -4,779,000 1,506,000 -773,000 5,177,000 -4,606,000 207,000 -1,173,000 1,040,000 -1,239,000       
      purchases of investments in debt securities
    		        -48,018,000 0 -117,887,000 -45,832,000 -43,254,000 0   
      proceeds from mortgage loans
    		        960,304,000 0 2,357,608,000 916,571,000 865,027,000 0   
      capital leases
    		        0 -239,000 239,000 2,209,000     
      other noncash amounts included in net income
    		   -185,000 -7,452,000 98,000 366,000 419,000 2,410,000 5,570,000 -485,000 -1,153,000 -1,033,000 -985,000 -585,000 -337,000 
      cash and restricted cash acquired in the mergers
    		                
      proceeds from ipo, net of underwriting discounts
    		            0    
      ipo costs paid
    		            0    
      merger costs paid
    		                
      payments on credit facilities
    		            0 0 0 -2,321,585,000 
      noncash investing and financing activities:
    		                
      reclassification of ipo costs from other assets to additional paid-in capital
    		            0    
      proceeds from atm equity program
    		                
      proceeds from sale of residential properties
    		       142,562,000 288,947,000 78,932,000 71,715,000 51,105,000 53,267,000 23,474,000 55,587,000 73,652,000 
      corporate capital expenditures
    		        -479,000 -1,716,000 -1,803,000 -29,000 -1,277,000 -1,315,000 -1,224,000 -270,000 
      contributions
    		                
      proceeds from credit facilities
    		                
      payments on warehouse loans
    		                
      noncash investing and financing activities
    		                
      redemption of series a preferred stock
    		             0 0 -1,153,000 
      change in amounts deposited and held by others
    		           -1,557,000     
      amortization of discount on mortgage loans
    		            1,188,000 88,000 59,000 55,000 
      restricted cash related to security deposits
    		            -1,011,000 -538,000 2,581,000 -5,213,000 
      restricted cash related to derivative collateral
    		                
      cash acquired in the mergers
    		                
      change in restricted cash
    		                
      payment of dividends, dividend equivalents, and distributions
    		                
      notes receivable repaid by (issued to) class b unitholders
    		                
      redemption of and dividends paid with respect to series a preferred stock
    		                
      proceeds from warehouse loans
    		                
      purchase of interest rate caps
    		                
      change in cash and cash equivalents
    		            45,437,000 -24,493,000 -33,516,000 -5,669,000 
      cash and cash equivalents, beginning of period
    		            0 0 0 198,119,000 
      cash and cash equivalents, end of period
    		            45,437,000 -24,493,000 -33,516,000 192,450,000 
      accrued acquisition costs at period end
    		                
      reclassification of deferred financing costs upon loan funding
    		                
      paid in kind interest on warehouse loan
    		                
      change in operating assets and liabilities:
    		                
      changes in amounts deposited and held by others
    		             -2,235,000 -395,000 484,000 
      changes in restricted cash
    		             -14,979,000 3,324,000 83,136,000 
      cash paid for employee taxes for settlement of rsus
    		                
      dividends paid
    		                
      proceeds from initial offering, net of underwriting discounts
    		              0 1,692,058,000 
      offering costs paid
    		              -300,000 -2,457,000 
      transfer of residential property, net to other asset, net for held for sale assets
    		              8,416,000 32,862,000 
      reclassification of offering costs from other assets to additional paid-in capital
    		                
      acquisition of residential properties
    		               -27,813,000 
      reclassification of offering costs from other assets to additional paid in capital
    		               2,969,000 
      noncash incentive compensation expense
    		                
      accretion of discount on investments in debt securities
    		                
      benefit from (recovery of) uncollectible resident receivables
    		                
      (gain) loss on sale of property
    		                
      paid in kind interest on warehouse loans
    		                
      paid in kind interest on class b notes receivable
    		                
      straight-line rent
    		                
      issuance of series a preferred stock
    		                
      notes receivable (issued to) repaid by class b unitholders
    		                
      distributions and dividends
    		                
      series a preferred stock dividends
    		                
      repayments on credit facilities
    		                
      repayments on mortgage loans
    		                
      repayments on warehouse loans
    		                
      accrued renovation improvements
    		                
      accrued residential property capital improvements
    		                
      accrued acquisition costs
    		                
      residential properties classified as held for sale in other assets
    		                
      reduction of class a subscription receivable in lieu of distribution
    		                
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.