The company said same store rental income rose mainly on healthy demand and modest supply across most of its markets. It said real estate taxes, the largest driver of the year-to-date same store operating expense increase, rose $6.3 million.

1. 01

   The company said same store rental income rose mainly on healthy demand and modest supply across most of its markets. It said real estate taxes, the largest driver of the year-to-date same store operating expense increase, rose $6.3 million.

2. 02

   The company said it commenced construction in the Boston market on a partially owned consolidated apartment property with 440 apartment units and approximately $232.2 million in expected development costs during the 6 months ended June 30, 2024.

3. 03

   The company said it disposed of 5 consolidated rental properties during the 6 months ended June 30, 2024, receiving net proceeds of approximately $330.1 million. It also said it paid approximately $526.8 million in dividends and distributions.

4. 04

   The company said it had approximately $2.3 billion in readily available liquidity. It said it has an unsecured revolving credit facility of $2.5 billion maturing October 26, 2027 and a commercial paper program of up to $1.0 billion.

Key figures

Quarter ended June 30, 2024

Net income

$177M

EPS

$0.47

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.