7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 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 2015-03-31 2014-06-30 2014-03-31 2013-09-30 2013-06-30 2013-03-31 2012-06-30 2012-03-31 2009-09-30 2009-06-30 2009-03-31 2008-12-31 2008-09-30 2008-06-30 2008-03-31 2007-09-30 2007-06-30 2007-03-31 2006-09-30 2006-06-30 2006-03-31 2005-03-31 
      
    		                                                         
      net income
    		102,044,000 110,875,000 186,406,000 171,074,000 118,230,000 104,662,000 147,610,000 164,868,000 113,732,000 149,657,000 139,574,000 198,936,000 125,703,000 216,560,000 113,577,000 190,916,000 87,047,000 223,875,000 48,864,000 86,299,000 62,036,000 77,728,000 37,952,000 155,060,000 81,459,000 64,141,000 65,958,000 63,517,000 54,704,000 61,981,000 50,820,000 128,007,000 118,958,000 50,155,000 43,416,000            -22,485,751 6,193,000 8,644,000 7,679,000 11,900,000 9,118,000 11,324,000 5,630,000 5,892,000 5,126,000 4,326,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                                         
      depreciation and amortization
    		156,819,000 153,688,000 152,520,000 151,060,000 146,907,000 145,177,000 143,258,000 141,060,000 146,863,000 139,176,000 138,758,000 138,592,000 137,023,000 134,403,000 133,986,000 135,737,000 134,766,000 132,092,000 131,820,000 129,740,000 127,833,000 127,448,000 126,657,000 125,580,000 124,944,000 124,184,000 123,082,000 121,772,000 124,702,000 123,160,000 121,361,000 119,593,000 118,075,000 126,790,000 130,082,000 74,034,000 70,630,000 91,469,000 33,922,000 33,999,000 34,237,000 32,792,000 31,549,000               
      (gain) loss on sale of depreciable real estate assets
    		0 69,000 -71,911,000        -15,000      313,000       -80,001,000                                  
      gain on consolidation of third-party development
    		   -206,000                                                      
      (gain) loss on embedded derivative in preferred shares
    		              -11,896,000                                           
      stock compensation expense
    		3,416,000 3,466,000 5,261,000 3,393,000 3,123,000 3,404,000 5,869,000 3,403,000 3,543,000 3,175,000 5,578,000 4,183,000 3,875,000 4,100,000 6,640,000 3,861,000 3,592,000 3,843,000 5,369,000 1,797,000 4,382,000 2,862,000 5,288,000 2,104,000 3,313,000 3,452,000 4,785,000 2,567,000 2,890,000 2,963,000 4,024,000 2,139,000 2,813,000 2,600,000 3,018,000 1,289,000 1,097,000 948,000 558,000 541,000 630,000 417,000 814,000        68,000 193,000 297,000 363,000 401,000 245,000  
      amortization of debt issuance costs, discounts and premiums
    		1,624,000 1,626,000 1,616,000 1,468,000 1,513,000 1,526,000 1,529,000 1,372,000 1,501,000 1,519,000 1,517,000 1,517,000 1,529,000 1,508,000 1,510,000 1,510,000 1,468,000 1,330,000 1,344,000 1,365,000 1,305,000 1,133,000 1,157,000                                   
      gain on investments
    		-5,357,000 397,000 -810,000  648,000       6,067,000 8,197,000 20,860,000 10,233,000                                           
      net change in operating accounts and other operating activities
    		9,899,000 85,021,000 -76,874,000 -32,791,000 31,893,000 84,434,000 -79,747,000 -21,678,000 34,662,000 55,513,000 -63,637,000 -26,075,000 67,086,000 17,338,000 -74,405,000 6,876,000 67,348,000 36,095,000 -54,394,000 -21,927,000 61,442,000 31,542,000 -38,495,000                                   
      net cash from operating activities
    		266,436,000 353,449,000 196,618,000 239,127,000 309,538,000 349,370,000 200,257,000 264,931,000 318,173,000 335,773,000 218,310,000 251,164,000 343,408,000 284,284,000 179,623,000 216,717,000 280,932,000 249,207,000 148,111,000 180,064,000 254,270,000 229,013,000 160,602,000 159,882,000 253,071,000 213,789,000 154,678,000 133,236,000 237,051,000 211,301,000 152,704,000 105,405,000 231,320,000 183,772,000 138,016,000 100,857,000 110,573,000 113,832,000 59,395,000 67,265,000 42,117,000 63,024,000 37,840,000        32,204,000 38,740,000 20,107,000 16,623,000 39,002,000 21,535,000  
      cash flows from investing activities:
    		                                                         
      purchases of real estate and other assets
    		-96,190,000   -111,967,000 -97,258,000 -91,826,000 -20,000 -211,003,000 0 0 -12,450,000 -18,800,000 -235,390,000 -12,006,000 -5,232,000 0 0   -51,961,000 0 0 -5,004,000 -82,246,000 -3,264,000 -6,001,000 -13,595,000 -16,831,000 -2,226,000   -72,291,000 -957,000 0 -62,817,000 -48,685,000 -116,938,000 -49,450,000 5,000 -57,310,000 -32,561,000          -53,376,000   -83,510,000 -25,948,000 -56,265,000  
      capital improvements and other
    		-95,622,000 -88,905,000 -72,636,000 -86,516,000 -94,081,000 -89,674,000 -52,101,000 -80,155,000 -86,726,000 -98,721,000 -75,622,000 -76,955,000 -86,372,000 -94,637,000 -38,212,000                                           
      development costs
    		-61,937,000 -79,136,000 -66,222,000 -58,672,000 -144,108,000 -65,596,000 -45,512,000 -47,007,000 -47,027,000 -51,267,000 -52,851,000 -47,862,000 -39,626,000 -41,856,000 -42,780,000                                           
      distributions from real estate joint venture
    		   43,000 60,000 124,000 100,000     152,000 34,000 257,000 95,000 14,000 91,000                                       77,000  
      contributions to affiliates
    		-750,000 -3,750,000 -3,675,000 -1,000,000 -750,000 -374,000 -750,000 -9,131,000 -1,875,000 -4,380,000 -1,250,000 -2,749,000 -1,800,000 -1,800,000 -7,500,000 -2,698,000 -857,000   -1,899,000 -1,725,000 -825,000 -900,000 -891,000 -1,800,000                                 
      proceeds from sale of marketable equity securities
    		    3,246,000                                                     
      proceeds from real estate asset dispositions
    		0 0 81,128,000     -2,000 -76,000 0 3,024,000 154,664,000 626,000                                             
      net proceeds from insurance recoveries
    		128,000   -8,000 11,131,000 3,801,000 5,271,000 265,000 -16,000 -68,000 764,000                                               
      net cash from investing activities
    		-254,371,000 -176,917,000 -61,405,000 -173,911,000 -321,760,000 -236,816,000 -93,012,000 -346,721,000 -135,720,000 -154,436,000 -138,385,000 9,377,000 -356,818,000 25,737,000 -83,532,000 16,069,000 -137,117,000 -20,039,000 -112,499,000 -191,579,000 -95,317,000 -107,846,000 -89,989,000 -7,592,000 -89,855,000 -87,942,000 -52,884,000 -78,592,000 -66,396,000 -174,697,000 -46,665,000 -51,119,000 -42,937,000 -98,704,000 -90,675,000 -32,176,000 -165,001,000 12,264,000 -23,136,000 -19,988,000 -51,241,000 -79,197,000 -34,042,000        -53,814,000 -39,273,000 -992,000 -94,899,000 -38,515,000 -60,274,000  
      cash flows from financing activities:
    		                                                         
      net proceeds from (payments of) commercial paper
    		148,000,000 5,000,000 60,000,000         -105,000,000                                              
      proceeds from notes payable
    		   347,095,000 0 397,984,000 346,567,000         0    0    299,286,000 269,568,000 0 490,435,000 472,018,000 0   0 0    395,836,000 344,000    100,000,000 50,000,000           14,607,000 0 13,235,000  
      principal payments on notes payable
    		   0 0   -350,000,000 -3,131,000 -368,000 -362,000 -358,000 -125,352,000 -348,000 -343,000 -336,000 -347,336,000 -327,000 -119,154,000 -886,000 -436,739,000 -1,743,000 -1,740,000 -188,984,000 -164,963,000 -301,825,000 -1,847,000 -532,371,000 -302,617,000 -2,580,000 -41,042,000 -68,504,000 -166,889,000 -159,293,000 -18,871,000 -17,472,000 -212,966,000 -17,986,000 -5,896,000 -1,429,000 -1,370,000 -950,000 -807,000        -694,000 -775,000 -10,558,000 -452,000 -15,052,000 -13,685,000  
      payment of deferred financing costs
    		   -3,167,000 0 -3,700,000 -3,450,000     -43,000    -18,000    -21,000 -4,165,000   -2,744,000 -2,482,000 -4,343,000 -4,705,000 -2,319,000 -270,000   -3,000 -98,000   -172,000 -3,250,000 -145,000 -2,229,000 -306,000 -120,000 -600,000 -1,397,000        -170,000 -752,000 -546,000 -299,000 -931,000 -974,000  
      distributions to noncontrolling interests
    		-4,469,000 -4,637,000 -4,660,000 -4,521,000 -4,548,000 -4,570,000 -4,621,000 -4,405,000 -4,418,000 -4,419,000 -4,429,000 -3,959,000 -4,003,000 -3,481,000 -3,484,000 -3,488,000 -3,707,000 -4,143,000 -4,159,000 -4,250,000 -3,867,000 -4,059,000 -4,067,000 -4,126,000 -3,927,000 -3,939,000 -3,947,000 -3,793,000 -3,601,000 -3,820,000 -3,865,000 -3,655,000 -3,667,000 -3,665,000 -3,667,000 -3,223,000 -3,072,000 -3,086,000 -1,183,000 -1,187,000 -1,204,000 -1,279,000 -1,280,000               
      dividends paid on common shares
    		-177,361,000 -177,177,000 -177,107,000 -171,815,000 -171,781,000 -171,734,000 -171,570,000 -163,363,000 -163,348,000 -163,323,000 -161,683,000 -144,347,000 -144,298,000 -125,528,000 -125,432,000 -118,017,000 -117,793,000 -117,349,000 -117,242,000 -114,372,000 -114,365,000 -114,348,000 -114,270,000 -109,504,000 -109,481,000 -109,434,000 -109,324,000 -105,015,000 -104,991,000 -104,967,000 -104,876,000 -98,853,000 -98,839,000 -98,811,000 -98,791,000 -57,840,000 -54,753,000 -54,661,000 -29,699,000 -29,697,000 -29,418,000 -27,009,000 -25,723,000        -15,331,000 -15,390,000 -15,176,000 -14,316,000 -14,973,000 -11,646,000  
      dividends paid on preferred shares
    		-922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000 -922,000                -3,491,000 -3,490,000 -3,491,000 -3,491,000 -3,491,000 -3,490,000  
      proceeds from issuances of common shares
    		360,000 354,000 375,000 275,000 339,000 313,000 303,000 327,000 352,000 314,000 204,077,000                 97,000 52,000 237,000 199,000 550,000 224,000 716,000 67,000 8,000 348,000 227,000 70,000 2,910,000 22,058,000 13,000 120,135,000               
      net change in other financing activities
    		143,000 -488,000 -206,000 539,000 2,695,000 -2,501,000 -567,000 666,000 626,000 -4,911,000 -1,660,000 1,605,000 310,000 -10,664,000 -814,000 4,072,000 -9,041,000 -1,798,000 625,000 2,992,000 507,000 -3,517,000 -1,108,000 12,563,000 989,000 913,000 1,230,000                               
      net cash from financing activities
    		-34,249,000 -177,870,000 -122,520,000 -72,516,000 -217,000 -104,130,000 -94,260,000 -38,456,000 -170,841,000 -173,629,000 15,021,000 -253,024,000 -154,738,000 -160,943,000 -154,065,000 -143,709,000 -145,298,000 -229,539,000 -27,852,000 19,541,000 -166,958,000 -134,620,000 -92,107,000 -124,431,000 -178,218,000 -127,550,000 -94,080,000 -82,371,000 -152,058,000 -57,911,000 -112,796,000 -91,387,000 -180,191,000 -79,368,000 -46,918,000 -75,751,000 -41,155,000 -93,528,000 136,054,000 -46,709,000 8,273,000 -3,312,000 -19,289,000           74,599,000 -194,000 35,748,000  
      net increase in cash, cash equivalents and restricted cash
    		-22,184,000 -1,338,000 12,693,000 -7,300,000 -12,439,000 8,424,000 12,985,000 -120,246,000 11,612,000 7,708,000 94,946,000 7,517,000 -168,148,000 149,078,000 -57,974,000 89,077,000 -1,483,000 -371,000 7,760,000   -13,453,000 -21,494,000   -1,703,000 7,714,000 -27,727,000                              
      cash, cash equivalents and restricted cash, beginning of period
    		0 0 56,761,000 0 0 0 55,091,000 0 0 0 61,071,000 0 0 0 130,598,000 0 0 0 35,615,000 0 0 0 70,541,000 0 0 0 51,673,000 0 0 0 88,867,000                           
      cash, cash equivalents and restricted cash, end of period
    		-22,184,000 -1,338,000 69,454,000 -7,300,000 -12,439,000 8,424,000 68,076,000 -120,246,000 11,612,000 7,708,000 156,017,000 7,517,000 -168,148,000 149,078,000 72,624,000 89,077,000 -1,483,000 -371,000 43,375,000 8,026,000 -8,005,000 -13,453,000 49,047,000 27,859,000 -15,002,000 -1,703,000 59,387,000 -27,727,000 18,597,000 -21,307,000 82,110,000                           
      reconciliation of cash, cash equivalents and restricted cash at period end:
    		                                                         
      cash and cash equivalents
    		-22,233,000 -1,294,000 55,776,000                        44,623,000 -11,880,000 13,529,000 -27,096,000 59,706,000                           
      restricted cash
    		49,000 -44,000 13,678,000                        14,764,000 -15,847,000 5,068,000 5,789,000 22,404,000  -4,726,000 -3,319,000 5,465,000 7,391,000 4,535,000 16,783,000 -112,000 -438,000 159,000 -105,000 207,000        -946,000 -64,000 60,000 -600,000 -184,000 873,000  
      total cash, cash equivalents and restricted cash
    		-22,184,000 -1,338,000 69,454,000                        59,387,000 -27,727,000 18,597,000 -21,307,000 82,110,000                           
      supplemental information:
    		                                                         
      interest paid
    		65,064,000 35,303,000 52,393,000                        18,322,000 73,395,000 23,567,000 62,983,000 24,889,000 43,022,000 43,754,000 55,196,000 24,785,000 27,017,000 45,410,000 30,408,000 14,924,000 17,210,000 16,400,000 13,530,000 16,911,000 13,922,000 14,450,000 12,682,000 -47,159,278 15,889,000 15,340,000 15,994,000 16,618,000 16,806,000 17,003,000 15,930,000 15,937,000 17,052,000 14,128,000 
      income taxes paid
    		101,000                          59,000 -196,000 76,000 148,000 2,522,000 110,000 30,000 2,216,000 10,000                       
      non-cash transactions:
    		                                                         
      distributions on common shares/units declared and accrued
    		4,000 67,000 181,765,000                                                       
      accrued construction in progress
    		-4,515,000 7,139,000 34,599,000                        15,155,000 -10,895,000 -2,633,000 7,469,000 14,640,000 -7,935,000 -3,573,000 -2,450,000 21,810,000 8,392,000 -1,513,000 9,971,000 -2,936,000 0 7,126,000 -3,209,000 10,027,000 -2,052,000 -1,459,000 5,987,000            
      interest capitalized
    		4,538,000 5,048,000 5,105,000                        388,000 407,000 357,000 488,000 795,000 1,354,000 1,657,000 2,207,000 2,020,000 474,000 337,000 513,000 246,000 424,000 448,000 651,000 638,000 64,000 47,000 62,000 -595,174 268,000 214,000 114,000 200,000 256,000 264,000     
      conversion of op units to shares of common stock
    		391,000 5,609,000 759,000                        336,000 161,000 1,164,000 338,000 2,780,000 469,000 868,000 98,000 167,000                       
      gain on embedded derivative in preferred shares
    		 -1,693,000 410,000   9,286,000 -13,092,000    -4,435,000 10,743,000         -1,342,000                                     
      cash flows from operating activities:
    		                                                         
      gain on sale of non-depreciable real estate assets
    		       0 0 0 -54,000 0 -431,000 -355,000 -23,000 -609,000    -29,000 -1,366,000 -5,000 376,000 -2,787,000 0 -297,000 -8,963,000 -662,000 -959,000 -2,761,000 -150,000 21,000 6,000                         
      (gain) loss on investments
    		      -5,172,000 -3,704,000 6,547,000                                                 
      proceeds from sale of markable equity securities
    		                                                         
      net (payments of) proceeds from commercial paper
    		          -20,000,000                                               
      acquisition of noncontrolling interests
    		           0 0 0 -43,070,000                                           
      the following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheets:
    		                                                         
      distributions on common shares/ units declared and accrued
    		                                                         
      loss on sale of depreciable real estate assets
    		              1,000       -2,000 29,000    13,000                               
      loss on embedded derivative in preferred shares
    		                 -13,168,000 15,108,000    27,638,000                                   
      net payments of commercial paper
    		    174,000,000 81,000,000 -260,000,000                                                   
      gain on sale of depreciable real estate assets
    		     23,000 2,000 1,000 75,000   -82,799,000 1,000               18,000 23,000   -68,341,000 -58,844,000 -274,000 73,000                       
      loss on investments
    		          1,024,000                                               
      proceeds from insurance recoveries
    		           927,000 5,710,000                                             
      proceeds from revolving credit facility
    		                    65,000,000 50,000,000 130,000,000                                   
      repayments of revolving credit facility
    		                    -65,000,000 -150,000,000 -30,000,000                                   
      net proceeds from commercial paper
    		              20,000,000         -130,000,000 -167,000,000                                 
      proceeds from real estate asset dispositions and insurance recoveries
    		              10,097,000                                           
      gain from unconsolidated limited partnerships, net of distributions received
    		                                                         
      proceeds from disposition of real estate assets
    		               141,657,000 4,478,000 160,858,000 898,000 897,000 2,618,000 135,000 525,000 158,830,000 1,344,000 758,000 13,882,000 1,064,000 2,767,000 10,291,000 5,860,000 97,389,000 88,489,000   52,770,000 32,513,000 93,127,000 45,694,000 73,013,000 76,000 22,098,000 29,035,000        14,651,000 13,181,000 597,000 950,000 288,000 801,000  
      capital improvements, development and other
    		                -140,829,000 -134,033,000 -113,511,000 -138,758,000 -96,333,000 -107,240,000 -84,610,000 -83,427,000 -86,316,000 -80,140,000 -53,214,000 -62,195,000 -66,187,000 -74,558,000 -51,775,000                           
      net payments on commercial paper
    		                                                         
      (gain) loss on sale of non-depreciable real estate assets
    		                                                         
      loss on sale of non-depreciable real estate assets
    		                                                         
      distributions from real estate joint ventures
    		                  114,000 142,000 123,000   142,000 181,000 141,000 43,000        221,000 6,000 2,676,000 8,865,000 114,000 3,233,000 4,964,000 10,320,000 459,000        0 0 9,855,000 71,000    
      net proceeds from (repayments of) commercial paper
    		                  213,000,000                                       
      proceeds from lines of credit
    		                       0 20,000,000 400,000,000 145,000,000 760,000,000 425,000,000 205,000,000 150,000,000                           
      repayments of lines of credit
    		                       0 -20,000,000 -475,000,000 -610,000,000 -670,000,000 -165,000,000 -545,000,000 -110,000,000                           
      net (repayments of) proceeds from commercial paper
    		                                                         
      net decrease in cash, cash equivalents and restricted cash
    		                             -21,307,000 -6,757,000                           
      net repayments of commercial paper
    		                      -70,000,000                                   
      amortization of debt discounts, premiums and issuance costs
    		                                                         
      net change in operating accounts and other
    		                        43,117,000 20,588,000 -31,944,000 -53,304,000 57,040,000 27,360,000 -21,782,000                           
      amortization of debt premium and debt issuance costs
    		                         1,721,000 1,747,000 -672,000 -1,349,000 -1,400,000 -1,569,000 -1,775,000 -2,012,000 -2,876,000 -3,147,000                       
      the following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the condensed consolidated balance sheets:
    		                                                         
      reconciliation of cash, cash equivalents and restricted cash:
    		                                                         
      supplemental disclosure of cash flow information:
    		                                                         
      supplemental disclosure of noncash investing and financing activities:
    		                                                         
      mark-to-market adjustment on derivative instruments
    		                          3,633,000 -14,392,000 3,359,000 5,960,000 -1,363,000 5,771,000 5,278,000 14,000 6,743,000                       
      acquisition of post properties, net of cash acquired
    		                                                         
      repurchase of common stock
    		                           -9,000 0 0 -2,912,000 0 0 -48,000 -4,734,000 -937,000 -51,000 -285,000 -9,000 0 -673,000 -225,000 -1,415,000               
      debt prepayment and extinguishment costs
    		                           -57,000 0 0 -3,000                           
      exercise of stock options
    		                           0 291,000 0 625,000 0 0    7,769,000 1,775,000                    
      fair value adjustment on debt assumed from the post properties merger
    		                                                         
      loan assumption from the post properties merger
    		                                                         
      purchase price for the post properties merger
    		                                                         
      contributions to affiliates, including joint ventures
    		                            -750,000 0 -750,000                           
      return (funding) of escrow for future acquisitions
    		                                                         
      net change in credit lines
    		                               80,000,000 90,000,000 -410,000,000 80,000,000 3,885,000 -163,247,000 -17,936,000 175,000,000 -17,000,000 19,000,000 -73,262,000 -158,802,000        41,316,000 13,166,000 -1,594,000 61,715,000 -40,256,000 41,915,000  
      net increase in cash and cash equivalents
    		                               -37,101,000 8,192,000 5,700,000 423,000 -7,070,000  32,568,000     -15,491,000         -2,083,000 830,000     
      cash and cash equivalents, beginning of period
    		                               0 0 0 33,536,000 25,401,000 0 89,333,000 0 0 9,075,000 0 57,317,000 0 0 9,426,000  0 0 17,192,000 0 0 5,545,000 0 0 14,064,000 9,133,000 
      cash and cash equivalents, end of period
    		                               -37,101,000 8,192,000 5,700,000 33,959,000 18,331,000 -95,583,000 121,901,000 172,313,000 568,000 8,224,000 -19,485,000 41,826,000 10,409,000 -41,586,000 47,666,000  33,692,000 2,918,000 7,059,000 -251,000 -2,083,000 6,375,000 -3,677,000 293,000 11,073,000 6,009,000 
      retail revenue accretion
    		                                -96,000 -98,000 -98,000 -29,000 -6,000 -6,000 -9,000 -10,000 -10,000                 
      redeemable stock expense
    		                                159,000 87,000 243,000                       
      gain from investments in real estate joint ventures
    		                                -335,000 -329,000 -357,000  -2,902,000 24,000                    
      gain on debt extinguishment
    		                                -832,000 -3,797,000 -124,000     0 169,000  -20,000               
      derivative interest credit
    		                                -5,234,000 -513,000 -3,551,000                       
      settlement of forward swaps
    		                                0                         
      net casualty gain and other settlement proceeds
    		                                -564,000    296,000 12,000                    
      changes in assets and liabilities:
    		                                                         
      other assets
    		                                -187,000 -6,252,000 175,000 2,441,000 5,470,000 5,664,000 -4,435,000 290,000 -3,466,000 -2,508,000 2,445,000        -4,703,000 2,811,000 2,668,000 -8,909,000 2,761,000 -20,000  
      accounts payable
    		                                3,297,000 632,000 1,376,000 -431,000 123,000 106,000 -3,150,000 4,441,000 1,086,000 1,588,000 1,910,000        1,282,000 -1,061,000 -1,063,000 -5,350,000 3,489,000 -615,000  
      accrued expenses and other
    		                                61,484,000 21,990,000 -39,121,000 -16,060,000 4,059,000 -3,465,000 15,190,000 10,746,000 -12,985,000 13,876,000 -14,994,000        6,794,000 9,320,000 -9,094,000 5,303,000 7,087,000 -4,513,000  
      security deposits
    		                                -642,000 331,000 475,000 465,000 286,000 240,000 -54,000 116,000 161,000 223,000 82,000        126,000 285,000 367,000 289,000 338,000 442,000  
      normal capital improvements
    		                                -31,140,000 -35,040,000 -15,850,000 -16,499,000 -32,674,000 -10,502,000 -12,918,000 -13,793,000 -8,701,000                 
      construction capital and other improvements
    		                                -1,718,000 -2,126,000 -3,327,000 -3,153,000 -1,577,000 -1,843,000 -1,736,000 -1,561,000 -576,000                 
      renovations to existing real estate assets
    		                                -16,383,000 -12,978,000 -7,331,000 -5,150,000 -4,545,000 -1,356,000 -3,504,000 -2,925,000 -2,187,000 -3,962,000 -2,934,000        -3,188,000 -2,691,000 -2,018,000     
      development
    		                                -32,810,000 -49,890,000 -59,830,000 -5,034,000 -13,114,000 -16,279,000 -5,313,000 -8,576,000 -12,240,000 -15,847,000 -26,745,000        -1,821,000 -3,740,000 -6,210,000     
      contributions to joint ventures
    		                                                         
      return of escrow for future acquisitions
    		                                -47,668,000 0 58,259,000                       
      net casualty loss and other settlement proceeds
    		                                  91,000 19,000      0 58,000               
      consolidated net income
    		                                   64,677,000 33,386,000 15,714,000 46,056,000 61,028,000 22,005,000 29,472,000 25,068,000 6,878,000 10,718,000 11,845,000            
      (gain) income from investments in real estate joint ventures
    		                                   -17,000   -60,000 -47,000 -54,000                 
      loss on debt extinguishment
    		                                   2,787,000               71,000   0    
      contributions to real estate joint ventures
    		                                      0 -167,000 -16,000 -22,000 -51,000        -28,000       
      funding of escrow for future acquisitions
    		                                    -31,342,000 -10,298,000     -21,585,000               
      redeemable stock issued
    		                                   189,000 362,000 145,000 158,000 218,000 159,000 169,000 116,000        164,000 92,000 92,000     
      amortization of debt premium
    		                                   -5,197,000 -7,246,000 -7,402,000 -443,000 -280,000 -225,000 -226,000 -90,000        -510,000 -509,000 -509,000 -477,000 -465,000 -465,000  
      derivative interest (credit) expense
    		                                   -473,000                      
      gain on sale of depreciable real estate assets excluded from discontinued operations
    		                                   -30,228,000                      
      gain on sale of discontinued operations
    		                                    0 -5,481,000 -28,788,000   -12,953,000 -9,500,000        -5,714,000       
      (funding) return of escrow for future acquisitions
    		                                   -6,431,000                      
      conversion of units to shares of common stock
    		                                   46,000 55,000 744,000 106,000 1,000 443,000 2,488,000 28,000               
      marked-to-market adjustment on derivative instruments
    		                                   -1,659,000 -667,000 2,300,000 1,451,000 15,820,000 4,096,000 757,000 4,084,000 -5,132,000 17,509,000 5,852,000 2,757,293 -4,794,000 27,556,000 -25,580,000 -16,166,000 9,871,000 -2,926,000 -13,634,000 7,088,000 10,417,000 11,301,000 
      fair value adjustment on debt assumed
    		                                    0 1,651,000 0                   
      loan assumption
    		                                    0 31,692,000                    
      derivative interest expense
    		                                    -25,000 427,000 343,000 217,000 267,000 194,000 164,000        -332,000 68,000 30,000     
      net decrease in cash and cash equivalents
    		                                       568,000 -851,000             -3,677,000 293,000 -2,991,000  
      gain on sale of non-depreciable assets
    		                                     -557,000             -29,000       
      gain on sale of depreciable assets
    		                                     -2,564,000                    
      funding of escrow for exchange acquisitions
    		                                      -45,478,000                   
      debt assumed
    		                                      0                   
      loss on sale of non-depreciable assets
    		                                                         
      net casualty (gain) loss and other settlement proceeds
    		                                       -435,000 -16,000                 
      income from investments in real estate joint ventures
    		                                         67,000 31,000        0 51,000 7,000     
      (gain) loss on debt extinguishment
    		                                                       550,000  
      reclassification of redeemable stock to liabilities
    		                                                         
      improvements to existing real estate assets
    		                                          -12,221,000        -10,052,000 -10,700,000 -3,216,000 -12,410,000 -12,915,000 -4,887,000  
      asset impairment
    		                                                         
      net casualty loss (gains) and other settlement proceeds
    		                                                         
      gain on properties contributed to joint ventures
    		                                                         
      funding of escrow for future principal payments on notes payable
    		                                                         
      redemption of preferred stock
    		                                                         
      depreciation and amortization of deferred financing costs
    		                                                  22,573,000 21,682,000 21,849,000 20,132,000 19,860,000 19,415,000  
      net casualty (gains) loss and other settlement proceeds
    		                                                         
      proceeds from issuances of common shares and units
    		                                                  1,329,000 7,197,000 14,586,000 18,257,000 74,508,000 13,384,000  
      conversion of units to share of common stock
    		                                                         
      conversion of units to common shares
    		                                              -198,764    6,000   194,000 84,000 52,000 20,000 
      reclass of redeemable stock to liabilities
    		                                                         
      reclass of redeemable stock from equity and redeemable stock to liabilities
    		                                                         
      stock issued to employee stock ownership plan
    		                                                  218,000 218,000 222,000     
      compensation expense/redeemable stock issued
    		                                                         
      ineffectiveness of derivative contracts
    		                                                         
      (gain) loss on sale of non-depreciable assets
    		                                                         
      (gain) loss on sale of discontinued operations
    		                                                         
      gains on disposition within real estate joint ventures
    		                                                         
      reclass of redeemable stock from equity to liabilities
    		                                              -476,518 2,000 3,000 472,000 3,000 2,000 440,000     
      see accompanying notes to consolidated financial statements.
    		                                                         
      minority interest in operating partnership income
    		                                                  1,034,000 763,000 1,038,000 375,000 408,000 413,000  
      incentive fees from real estate joint ventures
    		                                                         
      distributions to unitholders
    		                                                  -1,600,000 -1,506,000 -1,506,000 -1,422,000 1,000 -2,991,000  
      cash and cash equivalents, beginning of year
    		                                                         
      cash and cash equivalents, end of year
    		                                                         
      see accompanying notes to condensed consolidated financial statements.
    		                                                         
      reclass of preferred stock from equity to liabilities
    		                                                         
      income from discontinued operations before asset impairment, settlement
    		                                                         
      proceeds and gain on sale
    		                                                  12,000   -161,000    
      gain on disposition within real estate joint ventures
    		                                                  -1,000 0 -5,387,000     
      incentive fee from real estate joint ventures
    		                                                  0 0 -1,019,000     
      net gain on insurance and other settlement proceeds
    		                                                  197,000 -332,000 -510,000     
      net cash (used by) provided by financing activities
    		                                                   -1,550,000 -18,285,000     
      income from discontinued operations before asset impairment, settlement proceeds and gain on sale
    		                                                    -265,000     
      issuance of restricted common shares
    		                                                     -25,000 16,000 23,000 404,000 
      gain from discontinued operations before asset impairment, settlement
    		                                                         
      loss (income) from investments in real estate joint ventures
    		                                                     16,000    
      derivative interest income
    		                                                     -10,000    
      net income on insurance and other settlement proceeds on discontinued
    		                                                         
      operations
    		                                                         
      asset impairment on discontinued operations
    		                                                         
      net (gain) loss on insurance and other settlement proceeds
    		                                                     54,000    
      (gain) income from investments in unconsolidated entities
    		                                                       84,000  
      fair value adjustment on derivative instruments
    		                                                        2,277,000 
      amortization of unearned stock compensation
    		                                                         
      equity in loss of real estate joint ventures
    		                                                         
      extraordinary items
    		                                                         
      net gain on dispositions and insurance settlement proceeds
    		                                                         
      construction of units in progress and future development
    		                                                         
      note issued to real estate joint venture
    		                                                         
      proceeds from isssuance of preferred stock
    		                                                         
      assumption of debt related to property acquisitions
    		                                                         
      conversion of units for common shares
    		                                                         
    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.