Docoh
Loading...

WRI Weingarten Realty Investors

Cover Page

Cover Page - shares6 Months Ended
Jun. 30, 2021Jul. 27, 2021
Cover page.
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateJun. 30,
2021
Document Transition Reportfalse
Entity Registrant NameWeingarten Realty Investors
Entity File Number1-9876
Entity Incorporation, State or Country CodeTX
Entity Tax Identification Number74-1464203
Entity Address, Address Line One2600 Citadel Plaza Drive
Entity Address, Address Line TwoP.O. Box 924133
Entity Address, City or TownHouston,
Entity Address, State or ProvinceTX
Entity Address, Postal Zip Code77292-4133
City Area Code(713)
Local Phone Number866-6000
Title of 12(b) SecurityCommon Shares of Beneficial Interest, $.03 par value
Trading SymbolWRI
Security Exchange NameNYSE
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryLarge Accelerated Filer
Smaller Reporting Companyfalse
Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding (in shares)127,784,797
Amendment Flagfalse
Document Fiscal Period FocusQ2
Document Fiscal Year Focus2021
Entity Central Index Key0000828916
Current Fiscal Year End Date--12-31

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Revenues:
Rentals, net $ 119,770 $ 95,813 $ 238,091 $ 203,863
Other2,895 2,322 5,945 5,624
Total Revenues122,665 98,135 244,036 209,487
Operating Expenses:
Depreciation and amortization40,022 37,627 78,578 74,283
Operating22,767 19,978 46,054 43,138
Real estate taxes, net16,285 15,733 33,020 30,741
Impairment loss122 447 44
General and administrative11,691 12,920 22,295 15,227
Total Operating Expenses90,887 86,258 180,394 163,433
Other Income (Expense):
Interest expense, net(17,303)(15,776)(33,922)(30,378)
Interest and other (expense) income, net(4,713)5,293 (3,059)(535)
Gain on sale of property480 7,898 9,611 21,474
Total Other Expense(21,536)(2,585)(27,370)(9,439)
Income Before Income Taxes and Equity in Earnings of Real Estate Joint Ventures and Partnerships10,242 9,292 36,272 36,615
Provision for Income Taxes(86)(343)(324)(515)
Equity in Earnings of Real Estate Joint Ventures and Partnerships, net4,285 3,428 8,372 30,525
Net Income14,441 12,377 44,320 66,625
Less: Net Income Attributable to Noncontrolling Interests(1,749)(1,009)(3,591)(2,635)
Net Income Attributable to Common Shareholders $ 12,692 $ 11,368 $ 40,729 $ 63,990
Earnings Per Common Share - Basic:
Net income attributable to common shareholders (dollars per share) $ 0.10 $ 0.09 $ 0.32 $ 0.50
Earnings Per Common Share - Diluted:
Net income attributable to common shareholders (dollars per share) $ 0.10 $ 0.09 $ 0.32 $ 0.50

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net Income $ 14,441 $ 12,377 $ 44,320 $ 66,625
Other Comprehensive Income:
Reclassification adjustment of derivatives and designated hedges into net income(221)(224)(440)(445)
Retirement liability adjustment282 273 543 570
Total61 49 103 125
Comprehensive Income14,502 12,426 44,423 66,750
Comprehensive Income Attributable to Noncontrolling Interests(1,749)(1,009)(3,591)(2,635)
Comprehensive Income Adjusted for Noncontrolling Interests $ 12,753 $ 11,417 $ 40,832 $ 64,115

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in ThousandsJun. 30, 2021Dec. 31, 2020
ASSETS
Property $ 4,187,531 $ 4,246,334
Accumulated Depreciation(1,193,095)(1,161,970)
Property, net *2,994,436 3,084,364
Investment in Real Estate Joint Ventures and Partnerships, net362,132 369,038
Total3,356,568 3,453,402
Unamortized Lease Costs, net161,040 174,152
Accrued Rent, Accrued Contract Receivables and Accounts Receivable, net*70,039 81,016
Cash and Cash Equivalents *73,344 35,418
Restricted Deposits and Escrows11,702 12,338
Other, net209,080 205,074
Total Assets3,881,773 3,961,400
LIABILITIES AND EQUITY
Debt, net *1,786,962 1,838,419
Accounts Payable and Accrued Expenses95,979 104,990
Other, net218,369 217,489
Total Liabilities2,101,310 2,160,898
Commitments and Contingencies (see Note 12)0 0
Shareholders' Equity:
Common Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 275,000; shares issued and outstanding:127,645 in 2021 and 127,313 in 20203,876 3,866
Additional Paid-In Capital1,763,163 1,755,770
Net Income Less Than Accumulated Dividends(155,730)(128,813)
Accumulated Other Comprehensive Loss(11,947)(12,050)
Total Shareholders' Equity1,599,362 1,618,773
Noncontrolling Interests181,101 181,729
Total Equity1,780,463 1,800,502
Total Liabilities and Equity3,881,773 3,961,400
Consolidated Variable Interest Entities [Member]
ASSETS
Property, net *181,628 193,271
Accrued Rent, Accrued Contract Receivables and Accounts Receivable, net*8,236 9,489
Cash and Cash Equivalents *9,478 10,089
Total Assets211,869 225,719
LIABILITIES AND EQUITY
Debt, net * $ 43,756 $ 44,177

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in ThousandsJun. 30, 2021Dec. 31, 2020
Common Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 275,000; shares issued and outstanding:127,313 in 2021 and 127,313 in 2020
Common Shares of Beneficial Interest; par value (dollars per share) $ 0.03 $ 0.03
Common Shares of Beneficial Interest - shares authorized (shares)275,000 275,000
Common Shares of Beneficial Interest - shares issued (shares)127,645 127,313
Common Shares of Beneficial Interest - shares outstanding (shares)127,645 127,313

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands6 Months Ended
Jun. 30, 2021Jun. 30, 2020
Cash Flows from Operating Activities:
Net Income $ 44,320 $ 66,625
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization78,578 74,283
Amortization of debt deferred costs and intangibles, net1,223 1,392
Non-cash lease expense581 641
Impairment loss447 44
Equity in earnings of real estate joint ventures and partnerships, net(8,372)(30,525)
Gain on sale of property(9,611)(21,474)
Distributions of income from real estate joint ventures and partnerships8,972 18,418
Changes in accrued rent, accrued contract receivables and accounts receivable, net9,926 9,617
Changes in unamortized lease costs and other assets, net(7,692)(1,925)
Changes in accounts payable, accrued expenses and other liabilities, net4,711 (10,076)
Other, net1,995 1,672
Net cash provided by operating activities125,078 108,692
Cash Flows from Investing Activities:
Acquisition of real estate and land, net(5,220)(25,506)
Development and capital improvements(31,548)(78,258)
Proceeds from sale of property and real estate equity investments, net69,692 58,448
Real estate joint ventures and partnerships - Investments(2,075)(4,391)
Real estate joint ventures and partnerships - Distribution of capital7,416 17,520
Other, net(433)(1,513)
Net cash provided by (used in) investing activities37,832 (33,700)
Cash Flows from Financing Activities:
Principal payments of debt(15,996)(20,123)
Changes in unsecured credit facilities(35,998)12,000
Proceeds from issuance of common shares of beneficial interest, net712 208
Repurchase of common shares of beneficial interest, net(18,219)
Common share dividends paid(67,646)(73,994)
Debt issuance and extinguishment costs paid(6)
Distributions to noncontrolling interests(3,692)(1,594)
Contributions from noncontrolling interests1,150
Other, net(3,000)(1,439)
Net cash used in financing activities(125,620)(102,017)
Net increase (decrease) in cash, cash equivalents and restricted cash equivalents37,290 (27,025)
Cash, cash equivalents and restricted cash equivalents at January 147,756 55,291
Cash, cash equivalents and restricted cash equivalents at June 3085,046 28,266
Supplemental disclosure of cash flow information:
Cash paid for interest (net of amount capitalized of $1,375 and $4,573, respectively)33,121 29,094
Cash paid for income taxes841 793
Cash paid for amounts included in operating lease liabilities $ 1,592 $ 1,555

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands6 Months Ended
Jun. 30, 2021Jun. 30, 2020
Statement of Cash Flows [Abstract]
Capitalized interest paid $ 1,375 $ 4,573

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in ThousandsCommon Shares of Beneficial InterestAdditional Paid-In CapitalNet Income Less Than Accumulated DividendsCumulative Effect, Period of Adoption, Adjustment [Member]Net Income Less Than Accumulated DividendsAccumulated Other Comprehensive Loss [Member]Noncontrolling InterestsCumulative Effect, Period of Adoption, Adjustment [Member]Total
Increase (Decrease) in Equity [Roll Forward]
Cumulative effect adjustment of new accounting standards $ 3,905 $ 1,779,986 $ (74,293) $ (11,283) $ 177,845 $ 1,876,160
Beginning Balance at Dec. 31, 20193,905 1,779,986 (74,293)(11,283)177,845 1,876,160
Increase (Decrease) in Equity [Roll Forward]
Net Income52,622 1,626 54,248
Shares repurchased and cancelled(25)(18,194)(18,219)
Shares issued under benefit plans, net10 5,767 5,777
Dividends paid - common shares(50,935)(50,935)
Distributions to noncontrolling interests(1,301)(1,301)
Contributions from noncontrolling interests1,150 1,150
Other comprehensive income76 76
Ending Balance at Mar. 31, 20203,890 1,767,559 $ (711)(73,317)(11,207)179,320 $ (711)1,866,245
Beginning Balance at Dec. 31, 20193,905 1,779,986 (74,293)(11,283)177,845 1,876,160
Increase (Decrease) in Equity [Roll Forward]
Net Income66,625
Other comprehensive income125
Ending Balance at Jun. 30, 20203,890 1,767,972 (85,008)(11,158)180,036 1,855,732
Increase (Decrease) in Equity [Roll Forward]
Cumulative effect adjustment of new accounting standards3,890 1,767,559 (711)(73,317)(11,207)179,320 (711)1,866,245
Beginning Balance at Mar. 31, 20203,890 1,767,559 $ (711)(73,317)(11,207)179,320 $ (711)1,866,245
Increase (Decrease) in Equity [Roll Forward]
Net Income11,368 1,009 12,377
Shares issued under benefit plans, net413 413
Dividends paid - common shares(23,059)(23,059)
Distributions to noncontrolling interests(293)(293)
Other comprehensive income49 49
Ending Balance at Jun. 30, 20203,890 1,767,972 (85,008)(11,158)180,036 1,855,732
Increase (Decrease) in Equity [Roll Forward]
Cumulative effect adjustment of new accounting standards3,890 1,767,972 (85,008)(11,158)180,036 1,855,732
Cumulative effect adjustment of new accounting standards3,866 1,755,770 (128,813)(12,050)181,729 1,800,502
Beginning Balance at Dec. 31, 20203,866 1,755,770 (128,813)(12,050)181,729 1,800,502
Increase (Decrease) in Equity [Roll Forward]
Net Income28,037 1,842 29,879
Shares issued under benefit plans, net10 6,116 6,126
Dividends paid - common shares(38,288)(38,288)
Distributions to noncontrolling interests(2,258)(2,258)
Other comprehensive income42 42
Other, net(55)(527)(582)
Ending Balance at Mar. 31, 20213,876 1,761,831 (139,064)(12,008)180,786 1,795,421
Beginning Balance at Dec. 31, 20203,866 1,755,770 (128,813)(12,050)181,729 1,800,502
Increase (Decrease) in Equity [Roll Forward]
Net Income44,320
Other comprehensive income103
Ending Balance at Jun. 30, 20213,876 1,763,163 (155,730)(11,947)181,101 1,780,463
Increase (Decrease) in Equity [Roll Forward]
Cumulative effect adjustment of new accounting standards3,876 1,761,831 (139,064)(12,008)180,786 1,795,421
Beginning Balance at Mar. 31, 20213,876 1,761,831 (139,064)(12,008)180,786 1,795,421
Increase (Decrease) in Equity [Roll Forward]
Net Income12,692 1,749 14,441
Shares issued under benefit plans, net1,332 1,332
Dividends paid - common shares(29,358)(29,358)
Distributions to noncontrolling interests(1,434)(1,434)
Other comprehensive income61 61
Ending Balance at Jun. 30, 20213,876 1,763,163 (155,730)(11,947)181,101 1,780,463
Increase (Decrease) in Equity [Roll Forward]
Cumulative effect adjustment of new accounting standards $ 3,876 $ 1,763,163 $ (155,730) $ (11,947) $ 181,101 $ 1,780,463

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares3 Months Ended
Jun. 30, 2021Mar. 31, 2021Jun. 30, 2020Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Common dividend paid per share (in dollars per share) $ 0.23 $ 0.30 $ 0.18 $ 0.395

Summary of Significant Accounti

Summary of Significant Accounting Policies6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting PoliciesNote 1. Summary of Significant Accounting Policies Business Weingarten Realty Investors is a real estate investment trust (“REIT”) organized under the Texas Business Organizations Code. We currently operate, and intend to operate in the future, as a REIT. We, and our predecessor entity, began the ownership of shopping centers and other commercial real estate in 1948. Our primary business is leasing space to tenants in the shopping centers we own or lease. We also provide property management services for which we charge fees to either joint ventures where we are partners or other outside owners. We operate a portfolio of neighborhood and community shopping centers, totaling approximately 29.7 million square feet of gross leasable area that is either owned by us or others. We have a diversified tenant base, with two of our largest tenants each comprising only 2.6% of base minimum rental revenues during the six months of 2021. Total revenues generated by our centers located in Houston and its surrounding areas was 24.3% of total revenue for the six months ended June 30, 2021, and an additional 7.9% of total revenue was generated during this period from centers that are located in other parts of Texas. Also, in Florida and California, an additional 19.7% and 15.9%, respectively, of total revenue was generated during the six months ended June 30, 2021. Proposed Merger On April 15, 2021, we announced our entry into a definitive merger agreement (the “Merger Agreement”) with Kimco Realty Corporation (“Kimco”). The Merger Agreement provides that, among other things and on the terms and subject to the conditions set forth therein, (1) the Company will be merged with and into Kimco (the “Merger”), with Kimco continuing as the surviving corporation in the Merger, and (2) at the effective time of the Merger (the “Effective Time”), each common share of the Company (other than certain shares as set forth in the Merger Agreement) issued and outstanding immediately prior to the Effective Time will be automatically converted into the right to receive (i) 1.408 shares of common stock of Kimco and (ii) $2.89 in cash, subject to customary anti-dilution adjustments and any adjustment that may be made pursuant to the terms of the Merger Agreement in certain circumstances relating to a special pre-closing distribution by us. On July 15, 2021, our Board of Trust Managers declared a special dividend of $.69 per common share, which is payable on August 2, 2021 to shareholders of record on July 28, 2021. The special dividend is being paid in connection with the anticipated Merger and to satisfy the REIT taxable income distribution requirements. Under the terms of the Merger Agreement, our payment of the special dividend adjusts the cash consideration to be paid by Kimco at the closing of the Merger from $2.89 per share to $2.20 per share, and does not affect the payment of the share consideration of 1.408 newly issued shares of common stock of Kimco for each of our common shares owned immediately prior to the Effective Time (see Note 6 for additional information). During the period from the date of the Merger Agreement until the completion of the Merger, we are subject to certain restrictions on our ability to engage with third parties regarding alternative acquisition proposals and on the conduct of our business. The closing of the Merger is expected to occur on August 3, 2021, pending the receipt of the necessary shareholder approvals and satisfaction or waiver of the other closing conditions specified in the Merger Agreement. Kimco and we have each scheduled a special meeting of their shareholders for August 3, 2021 seeking their approval of Merger related proposals. There can be no assurance that all closing conditions will be satisfied or waived by August 3, 2021, that the Merger will close on August 3, 2021 or that the Merger will be consummated. For both the three and six months ended June 30, 2021, we have recorded costs of $8.4 million associated with the Merger, included in Interest and Other (Expense) Income, net. Estimated additional costs to be paid, if or when the Merger closes are $46.1 million which includes costs associated primarily with personnel and financial, legal, tax and audit advisors (see Note 12). Also, if and when the Merger closes, we estimate a net write-off of assets and liabilities based on June 30, 2021 balances of $1.1 million in additional expense due primarily to the vesting acceleration of restricted shares and other personnel related accruals. These estimates are based on the best information available to management and may be impacted by future developments related to the Merger that could result in inaccurate estimates that could be material to our consolidated financial statements. Pandemic In March 2020, the World Health Organization declared the novel coronavirus (“COVID-19”) a pandemic. The impact of COVID-19 continues to evolve and most cities and states have imposed measures to control its spread including social distancing and limiting group gatherings. These measures created risks and uncertainties surrounding our operations and geographic concentrations. The pandemic resulted in, at certain times and locations, the closure or limited operations of non-essential businesses and consumer/employee stay-at-home provisions. Given the continually evolving situation, the duration and severity of these matters and their ultimate effect are uncertain at this time. As judgments and estimates made by management are based on the best information available at the time, any evaluations impacted by future developments caused by the COVID-19 pandemic could result in inaccurate estimates when determining values that could be material to our consolidated financial statements. ​ Basis of Presentation Our condensed consolidated financial statements include the accounts of our subsidiaries, certain partially owned real estate joint ventures or partnerships and variable interest entities (“VIEs”) which meet the guidelines for consolidation. All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements included in this report are unaudited; however, amounts presented in the condensed consolidated balance sheet as of December 31, 2020 are derived from our audited financial statements at that date. In our opinion, all adjustments necessary for a fair presentation of such financial statements have been included. Such adjustments consisted of normal recurring items. Interim results are not necessarily indicative of results for a full year. The condensed consolidated financial statements and notes are presented as permitted by Form 10-Q and certain information included in our annual financial statements and notes thereto has been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and related notes for the year ended December 31, 2020. Our financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such statements require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. We have evaluated subsequent events for recognition or disclosure in our condensed consolidated financial statements. Accrued Rent, Accrued Contract Receivables and Accounts Receivable, net The duration of the COVID-19 pandemic and its impact on our tenants’ operations has caused uncertainty in our ongoing ability to collect rents when due. Considering the potential impact of this uncertainty, our collection assessment continues to consider the type of retailer and current discussions with the tenants, as well as recent rent collection experience and tenant bankruptcies based on the best information available to management at the time of evaluation. For the three and six months ended June 30, 2021, rental revenues increased by $1.2 million and $2.9 million, respectively, due to the realization of net recoveries. For the three and six months ended June 30, 2020, rental revenues were reduced by $19.3 million and $28.7 million, respectively, due primarily to COVID lease related reserves and write-offs, which included $4.8 million and $12.4 million, respectively, for straight-line rent receivables. Additionally, we continue to have lease negotiations with tenants directly related to the effects of the COVID-19 pandemic. At June 30, 2021 and December 31, 2020, included in Accrued Rent, Accrued Contract Receivables and Accounts Receivable, net, we have deferred lease concessions not currently due of $5.0 million and $9.6 million, respectively. Additionally for the three and six months ended June 30, 2021, rent abatements totaled $1.5 million and $3.5 million, respectively, which includes $1.3 million and $2.8 million for cash basis tenants. For both the three and six months ended June 30, 2020, $.3 million of rent abatements were recorded (see Note 7 for additional information). Discussions are continuing with tenants as the effects of the COVID-19 pandemic and related mandates evolve. Restricted Deposits and Escrows Restricted deposits are held or restricted for a specific use or in a qualified escrow account for the purposes of completing like-kind exchange transactions. Escrows consist of deposits held by third parties or lenders for a specific use, including capital improvements, rental income and taxes. Our restricted deposits and escrows consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2021 ​ 2020 Restricted deposits ​ $ 11,397 ​ $ 12,122 Escrows ​ ​ 305 ​ ​ 216 Total ​ $ 11,702 ​ $ 12,338 ​ Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss by component consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined ​ ​ ​ ​ ​ ​ ​ Benefit ​ ​ ​ ​ ​ ​ ​ ​ Pension ​ ​ ​ ​ ​ Gain on ​ Plan- ​ ​ ​ ​ ​ Cash Flow ​ Actuarial ​ ​ ​ ​ Hedges ​ Loss ​ Total Balance, December 31, 2020 ​ $ (2,724) ​ $ 14,774 ​ $ 12,050 Amounts reclassified from accumulated other comprehensive loss ​ ​ 219 (1) ​ (261) (2) ​ (42) Net other comprehensive loss (income) ​ ​ 219 ​ ​ (261) ​ ​ (42) Balance, March 31, 2021 ​ ​ (2,505) ​ ​ 14,513 ​ ​ 12,008 Amounts reclassified from accumulated other comprehensive loss ​ ​ 221 (1) ​ (282) (2) ​ (61) Net other comprehensive loss (income) ​ ​ 221 ​ ​ (282) ​ ​ (61) Balance, June 30, 2021 ​ $ (2,284) ​ $ 14,231 ​ $ 11,947 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined ​ ​ ​ ​ ​ ​ ​ Benefit ​ ​ ​ ​ ​ ​ ​ ​ Pension ​ ​ ​ ​ ​ Gain on ​ Plan- ​ ​ ​ ​ ​ Cash Flow ​ Actuarial ​ ​ ​ ​ Hedges ​ Loss ​ Total Balance, December 31, 2019 ​ $ (3,614) ​ $ 14,897 ​ $ 11,283 Amounts reclassified from accumulated other comprehensive loss ​ ​ 221 (1) ​ (297) (2) ​ (76) Net other comprehensive loss (income) ​ ​ 221 ​ ​ (297) ​ ​ (76) Balance, March 31, 2020 ​ ​ (3,393) ​ ​ 14,600 ​ ​ 11,207 Amounts reclassified from accumulated other comprehensive loss ​ ​ 224 (1) ​ (273) (2) ​ (49) Net other comprehensive loss (income) ​ ​ 224 ​ ​ (273) ​ ​ (49) Balance, June 30, 2020 ​ ​ (3,169) ​ ​ 14,327 ​ ​ 11,158 (1) This reclassification component is included in interest expense. (2) This reclassification component is included in the computation of net periodic benefit cost (see Note 11 for additional information). Additionally, as of June 30, 2021 and December 31, 2020, the net gain balance in accumulated other comprehensive loss relating to previously terminated cash flow interest rate swap contracts was $2.3 million and $2.7 million, respectively, which will be reclassified to net interest expense as interest payments are made on the originally hedged debt. Within the next 12 months, approximately $.9 million in accumulated other comprehensive loss is expected to be reclassified as a reduction to interest expense related to our interest rate contracts.

Newly Issued Accounting Pronoun

Newly Issued Accounting Pronouncements6 Months Ended
Jun. 30, 2021
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Newly Issued Accounting PronouncementsNote 2. Newly Issued Accounting Pronouncements Not Yet Adopted In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-04, “Reference Rate Reform (Topic 848)”, as amended by ASU No. 2021-01. This ASU contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in this ASU is optional and may be elected over time as reference rate reform activities occur. At January 1, 2020, we elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The adoption of this portion of the ASU did not have a material impact to our consolidated financial statements. We continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. ​ In August 2020, the FASB issued ASU No. 2020-06, “Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity.” The guidance in this ASU simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. This simplification results by removing major separation models required under current GAAP. Additionally, it removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and simplifies the diluted earnings per share calculation. The provisions of ASU No. 2020-06 are effective for us as of January 1, 2022 using either a modified retrospective method or a fully retrospective method, and early adoption is permitted beginning for us as of January 1, 2021. Although we are still assessing the impact of this ASU's adoption, we do not believe this ASU will have a material impact to our consolidated financial statements.

Property

Property6 Months Ended
Jun. 30, 2021
Real Estate [Abstract]
PropertyNote 3. Property Our property consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 Land ​ $ 949,307 ​ $ 948,622 Land held for development ​ 38,726 ​ 39,936 Land under development ​ 1,404 ​ 19,830 Buildings and improvements ​ 3,139,504 ​ 3,082,509 Construction in-progress ​ 58,590 ​ 155,437 Total ​ $ 4,187,531 ​ $ 4,246,334 ​ During the six months ended June 30, 2021, we sold four centers and other property. Aggregate gross sales proceeds from these transactions approximated $71.4 million and generated gains of approximately $9.6 million. In addition, during the six months ended June 30, 2021, we acquired real estate assets with an aggregate gross purchase price of $5.2 million, and we invested $10.9 million in new development projects. Subsequent to June 30, 2021, we sold one center and other property with aggregate gross proceeds totaling $43.8 million.

Investment In Real Estate Joint

Investment In Real Estate Joint Ventures And Partnerships6 Months Ended
Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investment In Real Estate Joint Ventures And PartnershipsNote 4. Investment in Real Estate Joint Ventures and Partnerships We own interests in real estate joint ventures or limited partnerships in which we exercise significant influence, but do not have financial and operating control. We account for these investments using the equity method, and our interests ranged for the periods presented from 20% to 90% in both 2021 and 2020. Combined condensed financial information of these ventures (at 100%) is summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 Combined Condensed Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ASSETS ​ ​ ​ ​ Property ​ $ 1,098,782 ​ $ 1,093,504 Accumulated depreciation ​ ​ (291,039) ​ ​ (275,802) Property, net ​ ​ 807,743 ​ ​ 817,702 Other assets, net ​ ​ 79,431 ​ ​ 81,285 Total Assets ​ $ 887,174 ​ $ 898,987 ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND EQUITY ​ ​ Debt, net (primarily mortgages payable) ​ $ 191,089 ​ $ 192,674 Amounts payable to Weingarten Realty Investors and Affiliates ​ ​ 9,038 ​ ​ 9,836 Other liabilities, net ​ ​ 17,846 ​ ​ 15,340 Total Liabilities ​ ​ 217,973 ​ ​ 217,850 Equity ​ ​ 669,201 ​ ​ 681,137 Total Liabilities and Equity ​ $ 887,174 ​ $ 898,987 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2021 2020 2021 2020 Combined Condensed Statements of Operations ​ ​ ​ ​ ​ ​ ​ ​ Revenues, net ​ $ 29,613 ​ $ 26,817 ​ $ 59,558 ​ $ 60,556 Expenses: ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ ​ 8,416 ​ ​ 8,902 ​ ​ 16,854 ​ ​ 17,664 Interest, net ​ ​ 1,132 ​ ​ 2,334 ​ ​ 2,756 ​ ​ 4,752 Operating ​ ​ 5,438 ​ ​ 5,462 ​ ​ 11,261 ​ ​ 12,573 Real estate taxes, net ​ ​ 3,592 ​ ​ 4,215 ​ ​ 7,127 ​ ​ 8,615 General and administrative ​ ​ 198 ​ ​ 233 ​ ​ 303 ​ ​ 338 Provision for income taxes ​ ​ 16 ​ ​ 34 ​ ​ 32 ​ ​ 70 Total ​ ​ 18,792 ​ ​ 21,180 ​ ​ 38,333 ​ ​ 44,012 Gain on dispositions ​ ​ 13 ​ ​ 2,090 ​ ​ 61 ​ ​ 46,789 Net income ​ $ 10,834 ​ $ 7,727 ​ $ 21,286 ​ $ 63,333 ​ Our investment in real estate joint ventures and partnerships, as reported in our Condensed Consolidated Balance Sheets, differs from our proportionate share of the entities’ underlying net assets due to basis differences, which arose upon the transfer of assets to the joint ventures. The net positive basis differences, which totaled $10.5 million and $10.7 million at June 30, 2021 and December 31, 2020, respectively, are generally amortized over the useful lives of the related assets. We recorded joint venture fee income of $1.3 million and $1.1 million included in Other revenue for the three months ended June 30, 2021 and 2020, respectively, and $2.9 million and $2.7 million for the six months ended June 30, 2021 and 2020, respectively. Additionally, for the three and six months ended June 30, 2021, our joint venture and partnerships have increased revenues by $.3 million and $1.0 million, respectively, due to the realization of net recoveries, of which our share totaled $.1 million and $.2 million, respectively. For the three and six months ended June 30, 2020, our joint venture and partnerships reduced revenues by $5.1 million and $5.9 million, respectively, due primarily to COVID lease related reserves and write-offs, which included $1.7 million and $2.6 million for straight-line rent receivables. Of these amounts for the three and six months ended June 30, 2020, our share totaled $1.7 million and $2.0 million, respectively, which included $.4 million and $.7 million, respectively, for straight-line rent receivables. For additional information, see Note 1. Effective as of March 31, 2021, a secured variable-rate loan of $170 million was extended to March 31, 2022 under an available one-year extension and has an additional one-year renewal option available. Subsequent to June 30, 2021, a center in a 20% owned unconsolidated real estate joint venture was sold with gross sales proceeds totaling $25.5 million. During 2020, we sold two centers and our interest in two centers, ranging from 20% to 50%, at an aggregate gross value of approximately $148.3 million, of which our share of the gain, included in equity earnings in real estate joint ventures and partnerships, totaled $23.5 million. Also during 2020, we invested an additional $8.7 million in a 90% owned unconsolidated real estate joint venture for a mixed-use new development. In December 2020, we acquired our partner’s 42.25% interest in a center at an unconsolidated real estate joint venture for approximately $115.2 million. The transaction resulted in the consolidation of the property in our consolidated financial statements.

Debt

Debt6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]
DebtNote 5. Debt Our debt consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 Debt payable, net to 2038 (1) ​ $ 1,707,677 ​ $ 1,723,073 Unsecured notes payable under credit facilities ​ ​ 4,002 ​ ​ 40,000 Debt service guaranty liability ​ ​ 53,650 ​ ​ 53,650 Finance lease obligation ​ ​ 21,633 ​ ​ 21,696 Total ​ $ 1,786,962 ​ $ 1,838,419 (1) At both June 30, 2021 and December 31, 2020, interest rates ranged from 3.3% to 7.0% at a weighted average rate of 3.9% . The allocation of total debt between fixed and variable-rate as well as between secured and unsecured is summarized below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 As to interest rate (including the effects of interest rate contracts): ​ ​ ​ ​ Fixed-rate debt ​ $ 1,782,960 ​ $ 1,798,419 Variable-rate debt ​ 4,002 ​ 40,000 Total ​ $ 1,786,962 ​ $ 1,838,419 As to collateralization: ​ ​ ​ Unsecured debt ​ $ 1,453,858 ​ $ 1,488,909 Secured debt ​ 333,104 ​ 349,510 Total ​ $ 1,786,962 ​ $ 1,838,419 ​ We maintain a $500 million unsecured revolving credit facility, which was amended and extended on December 11, 2019. This facility expires in March 2024, provides for two consecutive six-month extensions upon our request, and borrowing rates that float at a margin over LIBOR plus a facility fee. At both June 30, 2021 and December 31, 2020, the borrowing margin and facility fee, which are priced off a grid that is tied to our senior unsecured credit ratings, were 82.5 and 15 basis points, respectively. The facility also contains a competitive bid feature that allows us to request bids for up to $250 million. Additionally, an accordion feature allows us to increase the facility amount up to $850 million. Additionally, we have a $10 million unsecured short-term facility, which was amended and extended on March 24, 2021, that we maintain for cash management purposes, which matures in March 2022. At both June 30, 2021 and December 31, 2020, the facility provided for fixed interest rate loans at a 30-day LIBOR rate plus a borrowing margin, facility fee and an unused facility fee of 125, 10, and 5 basis points, respectively. The following table discloses certain information regarding our unsecured notes payable under our credit facilities (in thousands, except percentages): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2021 2020 ​ Unsecured revolving credit facility: ​ ​ ​ ​ ​ Balance outstanding ​ $ — ​ $ 40,000 ​ ​ Available balance ​ 498,068 ​ 458,068 ​ ​ Letters of credit outstanding under facility ​ 1,932 ​ 1,932 ​ ​ Variable interest rate (excluding facility fee) ​ — % 0.94 % ​ Unsecured short-term facility: ​ ​ ​ ​ Balance outstanding ​ $ 4,002 ​ $ — ​ ​ Variable interest rate (excluding facility fee) ​ 1.38 % — % ​ Both facilities: ​ ​ ​ ​ Maximum balance outstanding during the period ​ $ 40,000 ​ $ 497,000 ​ ​ Weighted average balance ​ 2,725 ​ 74,311 ​ ​ Year-to-date weighted average interest rate (excluding facility fee) ​ 0.94 % 1.0 % ​ ​ Related to a development project in Sheridan, Colorado, we have provided a guaranty for the payment of any debt service shortfalls until a coverage rate of 1.4x is met on tax increment revenue bonds issued in connection with the project. The bonds are to be repaid with incremental sales and property taxes and a public improvement fee (“PIF”) to be assessed on current and future retail sales and, to the extent necessary, any amounts we may have to provide under a guaranty. The incremental taxes and PIF are to remain intact until the earlier of the date the bond liability has been paid in full or 2040. Therefore, a debt service guaranty liability equal to the fair value of the amounts funded under the bonds was recorded. As of both June 30, 2021 and December 31, 2020, we had $53.7 million outstanding for the debt service guaranty liability. Various leases and properties, and current and future rentals from those leases and properties, collateralize certain debt. At June 30, 2021 and December 31, 2020, the carrying value of such assets aggregated $605.7 million and $634.4 million, respectively. Additionally, at both June 30, 2021 and December 31, 2020, investments of $6.0 million, included in Restricted Deposits and Escrows, are held as collateral for letters of credit totaling $6.0 million. Scheduled principal payments on our debt (excluding $4.0 million unsecured notes payable under our revolving credit facilities, $21.6 million of a finance lease obligation, $(2.7) million net premium/(discount) on debt, $(3.9) million of deferred debt costs, $4.9 million of non-cash debt-related items, and $53.7 million debt service guaranty liability) are due during the following years (in thousands): ​ ​ ​ ​ ​ 2021 remaining $ 2,799 2022 ​ ​ 308,298 2023 ​ 348,207 2024 ​ 252,561 2025 ​ 294,232 2026 ​ 277,733 2027 ​ 53,604 2028 ​ 92,159 2029 ​ 70,304 2030 ​ 950 Thereafter ​ 8,569 Total ​ $ 1,709,416 ​ Our various debt agreements contain restrictive covenants, including minimum interest and fixed charge coverage ratios, minimum unencumbered interest coverage ratios, minimum net worth requirements and maximum total debt levels. We are not aware of any non-compliance with our public debt and revolving credit facility covenants as of June 30, 2021.

Common Shares of Beneficial Int

Common Shares of Beneficial Interest6 Months Ended
Jun. 30, 2021
Equity [Abstract]
Common Shares of Beneficial InterestNote 6. Common Shares of Beneficial Interest We have a $200 million share repurchase plan where we may repurchase common shares of beneficial interest ("common shares") from time-to-time in open-market or in privately negotiated purchases. Subject to the applicable restrictions contained in the Merger Agreement, the timing and amount of any shares repurchased will be determined by management based on its evaluation of market conditions and other factors. The repurchase plan may be suspended or discontinued at any time, and we have no obligations to repurchase any amount of our common shares under the plan. During the six months ended June 30, 2021, no common shares were repurchased, and 1.7 million common shares were repurchased at an average price of $19.09 per share during the year ended December 31, 2020. At June 30, 2021 and as of the date of this filing, $149.4 million of common shares remained available to be repurchased under this plan. On July 15, 2021, our Board of Trust Managers declared a special dividend of $.69 per common share, which is payable on August 2, 2021 to shareholders of record on July 28, 2021. The special dividend is being paid in connection with the anticipated Merger and to satisfy the REIT taxable income distribution requirements (see Note 1 for additional information).

Leasing Operations

Leasing Operations6 Months Ended
Jun. 30, 2021
Leases [Abstract]
Leasing OperationsNote 7. Leasing Operations As a commercial real estate lessor, generally our leases are for terms of 10 years or less and may include multiple options, upon tenant election, to extend the lease term in increments up to five years. Our leases typically do not include an option to purchase. Tenant terminations prior to the lease end date occasionally results in a one-time termination fee based on the remaining unpaid lease payments including variable payments and could be material to the tenant. Many of our leases have increasing minimum rental rates during the terms of the leases through escalation provisions. In addition, the majority of our leases provide for variable rental revenues, such as, reimbursements of real estate taxes, maintenance and insurance and may include an amount based on a percentage of the tenants’ sales. Also, net rent abatements related to the COVID-19 pandemic of $.2 million and $.7 million were recorded as a reduction to variable lease payments for the three and six months ended June 30, 2021, respectively. For both the three and six months ended June 30, 2020, $.3 million were recorded as a reduction to variable lease payments (see Note 1 for additional information). Variable lease payments recognized in Rentals, net are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ ​ 2021 2020 ​ 2021 2020 Variable lease payments ​ $ 25,268 ​ $ 24,084 ​ $ 52,142 ​ $ 50,961 ​

Supplemental Cash Flow Informat

Supplemental Cash Flow Information6 Months Ended
Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow InformationNote 8. Supplemental Cash Flow Information Cash, cash equivalents and restricted cash equivalents consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 Cash and cash equivalents $ 73,344 $ 14,203 Restricted deposits and escrows (see Note 1) ​ 11,702 ​ 14,063 Total ​ $ 85,046 ​ $ 28,266 ​ Supplemental disclosure of non-cash transactions is summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, ​ ​ 2021 ​ 2020 Accrued property construction costs $ 3,737 $ 11,880 Right-of-use assets exchanged for operating lease liabilities ​ — ​ 448 Increase in debt, net associated with the acquisition of real estate and land ​ ​ — ​ ​ 17,952 ​

Earnings Per Share

Earnings Per Share6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings Per ShareNote 9. Earnings Per Share Earnings per common share – basic is computed using net income attributable to common shareholders and the weighted average number of shares outstanding – basic. Earnings per common share – diluted includes the effect of potentially dilutive securities. Earnings per common share – basic and diluted components for the periods indicated are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ ​ 2021 ​ 2020 ​ 2021 ​ 2020 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 14,441 ​ $ 12,377 ​ $ 44,320 ​ $ 66,625 Net income attributable to noncontrolling interests ​ (1,749) ​ (1,009) ​ (3,591) ​ (2,635) Net income attributable to common shareholders – basic and diluted ​ $ 12,692 ​ $ 11,368 ​ $ 40,729 ​ $ 63,990 Denominator: ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding – basic ​ 126,600 ​ 127,242 ​ 126,559 ​ 127,552 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ ​ ​ Share options and awards ​ 1,039 ​ 861 ​ 1,096 ​ 899 Weighted average shares outstanding – diluted ​ 127,639 ​ 128,103 ​ 127,655 ​ 128,451 ​ Anti-dilutive securities of our common shares, which are excluded from the calculation of earnings per common share – diluted, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ ​ 2021 ​ 2020 2021 ​ 2020 Operating partnership units 1,409 ​ 1,432 ​ 1,419 ​ 1,432 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Share Options and Awards

Share Options and Awards6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Share Options and AwardsNote 10. Share Options and Awards During the six months ended June 30, 2021, we granted share awards incorporating both service-based and market-based measures to promote share ownership among the participants and to emphasize the importance of total shareholder return (“TSR”). The term of each grant varies depending upon the participant’s responsibilities and position within the Company. We categorize these share awards as either service-based share awards or market-based share awards. All awards were valued at the fair market value on the date of grant and earn dividends from the date of grant. Compensation expense is measured at the grant date and recognized over the vesting period. Generally, unvested share awards are forfeited upon the termination of the participant’s employment with us without cause. The fair value of the market-based share awards was estimated on the date of grant using a Monte Carlo valuation model based on the following assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ June 30, 2021 ​ ​ ​ Minimum ​ Maximum ​ Dividend yield 3.5 % 6.0 % Expected volatility (1) 44.0 % 46.0 % Expected life (in years) N/A 3 ​ Risk-free interest rate 0.0 % 0.16 % (1) Includes the volatility of the FTSE NAREIT U.S. Shopping Center Index and Weingarten Realty Investors. A summary of the status of unvested share awards for the six months ended June 30, 2021 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Unvested ​ Grant ​ ​ Share ​ Date Fair ​ ​ Awards ​ Value Outstanding, January 1, 2021 856,295 ​ $ 28.00 Granted: ​ Service-based awards 226,379 ​ 20.90 Market-based awards relative to FTSE NAREIT U.S. Shopping Center Index 104,046 ​ 22.28 Market-based awards relative to three-year absolute TSR 104,045 ​ 21.90 Trust manager awards 17,898 ​ 32.48 Vested (267,205) ​ 25.49 Forfeited (1,052) ​ 24.43 Outstanding, June 30, 2021 1,040,406 ​ $ 26.00 ​ The Merger Agreement and the plans under which restricted shares were granted and other agreements provide that all restricted shares will become vested at the Effective Time (see Note 1 for additional information). Disregarding the impact at the Effective Time, as of June 30, 2021 and December 31, 2020, there was approximately $2.7 million and $1.8 million, respectively, of total unrecognized compensation cost related to unvested share awards, which is expected to be amortized, over a weighted average of 2.0 years and 1.6 years at June 30, 2021 and December 31, 2020, respectively. In accordance with the Merger Agreement, on July 15, 2021, the Board of Trust Managers granted three-year cliff vesting restricted share awards. On the grant date, 139,355 common shares were awarded with a total compensation cost of $4.5 million, in which $3.8 million was recorded as of June 30, 2021 for retirement eligible recipients. The awards were valued at the fair market value on the date of grant and earn dividends from the date of grant.

Employee Benefit Plans

Employee Benefit Plans6 Months Ended
Jun. 30, 2021
Retirement Benefits [Abstract]
Employee Benefit PlansNote 11. Employee Benefit Plans Defined Benefit Plan We sponsor a noncontributory qualified retirement plan. The components of net periodic benefit (income) cost for this plan are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ ​ 2021 ​ 2020 2021 ​ 2020 Service cost $ 457 $ 305 ​ $ 786 $ 578 Interest cost ​ ​ 533 ​ ​ 397 ​ ​ 1,024 ​ ​ 677 Expected return on plan assets ​ ​ (1,488) ​ ​ (840) ​ ​ (2,527) ​ ​ (1,432) Amortization of net loss ​ ​ 282 ​ ​ 273 ​ ​ 543 ​ ​ 570 Total ​ $ (216) ​ $ 135 ​ $ (174) ​ $ 393 ​ The components of net periodic benefit (income) cost other than the service cost component are included in Interest and Other (Expense) Income, net in the Condensed Consolidated Statements of Operations. No Defined Contribution Plans Compensation expense related to our defined contribution plans was $1.0 million and $.9 million for the three months ended June 30, 2021 and 2020, respectively, and $2.1 million and $2.0 million for the six months ended June 30, 2021 and 2020, respectively. Pursuant to the Merger Agreement, the Savings and Investment Plan (“Plan”) has been amended to cease all participant elective deferrals and employer contributions as of the date coincident with or immediately following the Effective Time, except for contributions that are necessary to satisfy any funding obligations that are attributable to time periods ending on or before such date. Also, the Plan is in the process of merging with Kimco’s applicable defined contribution plan by January 1, 2022. ​ Also, our two separate and independent nonqualified supplemental retirement plans (“SRP”) shall be terminated as of the Effective Time, and the participants of the SRP plans shall receive all amounts deferred under such plans as soon as practicable after the Effective Time. ​ Deferred Compensation Plan Pursuant to the Merger Agreement, the deferred compensation plan will be terminated as of the Effective Time, and the participants of this plan will receive all amounts deferred under the plan as soon as practicable after the Effective Time.

Commitments and Contingencies

Commitments and Contingencies6 Months Ended
Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and ContingenciesNote 12. Commitments and Contingencies Commitments and Contingencies As of June 30, 2021 and December 31, 2020, we participated in two real estate ventures structured as DownREIT partnerships. We have operating and financial control over these ventures and consolidate them in our condensed consolidated financial statements. These ventures allow the outside limited partners to put their interest in the partnership to us, and we have the option to redeem the interest in cash or a fixed number of our common shares, at our discretion. We also participate in a real estate venture that has a property in Texas that allowed its outside partner to put operating partnership units to us. We have the option to redeem these units in cash or a fixed number of our common shares, at our discretion. The aggregate redemption value of these interests was approximately $45 million and $31 million as of June 30, 2021 and December 31, 2020, respectively. As of June 30, 2021, we have entered into commitments aggregating $42.2 million comprised principally of construction contracts which are generally due in 12 The closing of the Merger is expected to occur on August 3, 2021. We have entered into commitments to be expensed, if and when the Merger closes that management has estimated to be $46.1 million which includes costs associated primarily with personnel and financial, legal, tax and audit advisors. See Note 1 for additional information. Additionally, if the Merger were not to close, under certain circumstances as defined in the Merger Agreement, a termination fee may have to be paid to Kimco, which is the lesser of $115,000,000 or the maximum amount that could be paid to Kimco without causing Kimco to fail to qualify as a REIT under the Internal Revenue Code for such year. Subject to the covenants set forth in the Merger Agreement, we issue letters of intent signifying a willingness to negotiate for acquisitions, dispositions or joint ventures, as well as other types of potential transactions, during the ordinary course of our business. Such letters of intent and other arrangements are non-binding to all parties unless and until a definitive contract is entered into by the parties. Even if definitive contracts relating to the acquisition or disposition of property are entered into, these contracts generally provide the purchaser a time period to evaluate the property and conduct due diligence. The purchaser, during this time, will have the ability to terminate a contract without penalty or forfeiture of any deposit or earnest money. No assurance can be provided that any definitive contracts will be entered into with respect to any matter covered by letters of intent, or that we will consummate any transaction contemplated by a definitive contract. Additionally, due diligence periods for property transactions are frequently extended as needed. An acquisition or disposition of property becomes probable at the time the due diligence period expires and the definitive contract has not been terminated. Our risk is then generally extended only to any earnest money deposits associated with property acquisition contracts, and our obligation to sell under a property sales contract. We are subject to numerous federal, state and local environmental laws, ordinances and regulations in the areas where we own or operate properties. We are not aware of any contamination which may have been caused by us or any of our tenants that would have a material effect on our condensed consolidated financial statements. As part of our risk management activities, we have applied and been accepted into state sponsored environmental programs which will limit our expenses if contaminants need to be remediated. We also have an environmental insurance policy that covers us against third party liabilities and remediation costs. While we believe that we do not have any material exposure to environmental remediation costs, changes in the law or new discoveries of contamination may result in additional liabilities to us. Litigation We are involved in various matters of litigation arising in the normal course of business. While we are unable to predict the amounts involved, our management and counsel are of the opinion that, when such litigation is resolved, any additional liability, if any, will not have a material effect on our condensed consolidated financial statements.

Variable Interest Entities

Variable Interest Entities6 Months Ended
Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest EntitiesNote 13. Variable Interest Entities Consolidated VIEs: At both June 30, 2021 and December 31, 2020, eight of our real estate joint ventures, whose activities primarily consisted of owning and operating 19 and 21 neighborhood/community shopping centers, respectively, were determined to be VIEs. Based on a financing agreement by one of our real estate joint ventures that has a bottom dollar guaranty, which is disproportionate to our ownership, we have determined that we are the primary beneficiary and have consolidated this joint venture. For the remaining real estate joint ventures, we concluded we are the primary beneficiary based primarily on our significant power to direct the entities’ activities without any substantive kick-out or participating rights. A summary of our consolidated VIEs is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2021 ​ 2020 Assets Held by VIEs (1) $ 211,869 $ 225,719 Assets Held as Collateral for Debt (2) ​ ​ 40,687 ​ ​ 41,798 Maximum Risk of Loss (2) ​ ​ 29,784 ​ ​ 29,784 (1) The decrease between the periods is attributable primarily to disposition activities. (2) Represents the amount of debt and related assets held as collateral associated with the bottom dollar guaranty at one real estate joint venture. Restrictions on the use of these assets can be significant because they may serve as collateral for debt. Further, we are generally required to obtain our partner’s approval in accordance with the joint venture agreement for any major transactions. Transactions with these joint ventures in our condensed consolidated financial statements have primarily been positive as demonstrated by the generation of net income and operating cash flows, as well as the receipt of cash distributions. We and our partners are subject to the provisions of the joint venture agreements which include provisions for when additional contributions may be required to fund operating cash shortfalls, development expenditures, unplanned capital expenditures and repayment of debts. Unconsolidated VIEs: At both June 30, 2021 and December 31, 2020, two unconsolidated real estate joint ventures were determined to be VIEs. We have determined that one entity was a VIE through the issuance of a secured loan, since the lender had the ability to make decisions that could have a significant impact on the success of the entity. This entity exercised the first of two one-year renewal options to extend the maturity of a $170 million loan to March 31, 2022. Based on the associated agreements for the future development of a mixed-use project, we concluded that the other entity was a VIE, but we are not the primary beneficiary as the substantive participating rights associated with the entity are shared, and we do not have the power to direct the significant activities of the entity. Our analysis considered that all major decisions require unanimous member consent and those decisions include significant activities such as development, financing, leasing and operations of the entity. A summary of our unconsolidated VIEs is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2021 ​ 2020 Investment in Real Estate Joint Ventures and Partnerships, net (1) $ 128,271 $ 133,468 Other Liabilities, net (2) ​ ​ 8,101 ​ ​ 7,624 Maximum Risk of Loss (3) ​ ​ 34,000 ​ ​ 34,000 (1) The carrying amount of the investment represents our contributions to a real estate joint venture, net of any distributions made and our portion of the equity in earnings of the real estate joint venture. (2) Includes the carrying amount of an investment where distributions have exceeded our contributions and our portion of the equity in earnings for a real estate joint venture. (3) The maximum risk of loss has been determined to be limited to our debt exposure for the real estate joint ventures. Additionally, our investment, including contributions and distributions, associated with a mixed-use project is disclosed in (1) above. We and our partners are subject to the provisions of the joint venture agreements that specify conditions, including operating shortfalls, development expenditures and unplanned capital expenditures, under which additional contributions may be required.

Fair Value Measurements

Fair Value Measurements6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value MeasurementsNote 14. Fair Value Measurements The COVID-19 pandemic has created uncertainties surrounding the global economy and financial markets. As a result, the full magnitude of the pandemic and the ultimate effect upon the future of our fair value measurements are uncertain at this time. Any changes in fair value for financial instruments marked to fair value will have a direct impact to our financial statements, except for net changes in our investments held in grantor trust and its related obligations. Additionally, changes in fair values for financial instruments not marked to fair value will not have an impact to our financial statements unless plans change to sell or settle the instrument prior to its maturity. Recurring Fair Value Measurements: Assets and liabilities measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020, aggregated by the level in the fair value hierarchy in which those measurements fall, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Identical ​ Other ​ Significant ​ ​ ​ ​ ​ Assets ​ Observable ​ Unobservable ​ Fair Value at ​ ​ and Liabilities ​ Inputs ​ Inputs ​ June 30, ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ 2021 Assets: ​ ​ ​ ​ Cash equivalents, primarily money market funds (1) ​ $ 46 ​ ​ ​ $ 46 Restricted cash, primarily money market funds (1) ​ 9,095 ​ ​ ​ 9,095 Investments, mutual funds held in a grantor trust (1) (2) ​ 47,310 ​ ​ ​ 47,310 Total ​ $ 56,451 ​ $ — ​ $ — ​ $ 56,451 Liabilities: ​ ​ ​ ​ Deferred compensation plan obligations (2) ​ $ 47,310 ​ ​ ​ $ 47,310 Total ​ $ 47,310 ​ $ — ​ $ — ​ $ 47,310 (1) For the three and six months ended June 30, 2021, a net gain of $2.8 million and $3.9 million was included in Interest and Other (Expense) Income, net, of which $2.5 million and $3.6 million represented an unrealized gain, respectively. (2) See Note 11 for additional information. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Identical ​ Other ​ Significant ​ ​ ​ ​ ​ Assets ​ Observable ​ Unobservable ​ Fair Value at ​ ​ and Liabilities ​ Inputs ​ Inputs ​ December 31, ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ 2020 Assets: ​ ​ ​ ​ Cash equivalents, primarily money market funds (1) ​ $ 155 ​ ​ ​ $ 155 Restricted cash, primarily money market funds (1) ​ 10,144 ​ ​ ​ 10,144 Investments, mutual funds held in a grantor trust (1) ​ 43,412 ​ ​ ​ 43,412 Total ​ $ 53,711 ​ $ — ​ $ — ​ $ 53,711 Liabilities: ​ ​ ​ ​ Deferred compensation plan obligations ​ $ 43,412 ​ ​ ​ $ 43,412 Total ​ $ 43,412 ​ $ — ​ $ — ​ $ 43,412 (1) For the year ended December 31, 2020, a net gain of $5.1 million was included in Interest and Other Income, net, of which $3.7 million represented an unrealized gain. Included in these amounts for the three and six months ended June 30, 2020 was a net gain of $5.1 million and a net loss of $(.9) million, respectively, of which $4.4 million and $(1.9) million represented an unrealized gain (loss), respectively. Nonrecurring Fair Value Measurements: Property Impairments Property, including right-of-use assets, is reviewed for impairment if events or changes in circumstances indicate that the carrying amount of the property, including any identifiable intangible assets, site costs and capitalized interest, may not be recoverable. In such an event, a comparison is made of the current and projected operating cash flows of each such property into the foreseeable future on an undiscounted basis to the carrying amount of such property. If we conclude that an impairment may have occurred, estimated fair values are determined by management utilizing cash flow models, market capitalization rates and market discount rates, or by obtaining third-party broker valuation estimates, appraisals, bona fide purchase offers or the expected sales price of an executed sales agreement in accordance with our fair value measurements accounting policy. Market capitalization rates and market discount rates are determined by reviewing current sales of similar properties and transactions, and utilizing management’s knowledge and expertise in property marketing. No assets were measured at fair value on a nonrecurring basis at June 30, 2021. Assets measured at fair value on a nonrecurring basis at December 31, 2020 aggregated by the level in the fair value hierarchy in which those measurements fall, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ Active Markets for ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ Identical ​ Other ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ Observable ​ Unobservable ​ ​ ​ ​ ​ ​ ​ ​ and Liabilities ​ Inputs ​ Inputs ​ ​ ​ ​ Total Gains ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Fair Value ​ (Losses) (1) Property (2) ​ ​ $ 47,746 ​ $ — ​ $ 47,746 ​ $ (12,686) Total ​ $ — ​ $ 47,746 ​ $ — ​ $ 47,746 ​ $ (12,686) (1) Total gains (losses) presented in this table relate to assets that were held by us at December 31, 2020. (2) In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount $60.4 million was written down to a fair value of $47.7 million, resulting in a loss of $12.7 million, which was included in earnings for the fourth quarter of 2020. Management’s estimate of fair value of these properties were determined using bona fide purchase offers for the Level 2 inputs. ​ Fair Value Disclosures: Unless otherwise described below, short-term financial instruments and receivables are carried at amounts, which approximate their fair values based on their highly-liquid nature, short-term maturities and/or expected interest rates for similar instruments. Schedule of our fair value disclosures is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ December 31, 2020 ​ ​ ​ ​ ​ Fair Value ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ ​ ​ ​ ​ ​ ​ Using ​ Fair Value ​ ​ ​ ​ Using ​ Fair Value ​ ​ ​ ​ ​ Significant ​ Using ​ ​ ​ ​ Significant ​ Using ​ ​ ​ ​ ​ Other ​ Significant ​ ​ ​ ​ Other ​ Significant ​ ​ ​ ​ ​ Observable ​ Unobservable ​ ​ ​ ​ Observable ​ Unobservable ​ ​ Carrying ​ Inputs ​ Inputs ​ Carrying ​ Inputs ​ Inputs ​ ​ Value ​ (Level 2) ​ (Level 3) Value ​ (Level 2) ​ (Level 3) Other Assets: ​ ​ ​ ​ ​ ​ ​ Tax increment revenue bonds ​ $ 14,758 ​ ​ $ 19,000 ​ $ 14,762 ​ ​ $ 19,000 Debt: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fixed-rate debt ​ 1,782,960 ​ ​ ​ 1,889,306 ​ 1,798,419 ​ ​ ​ 1,905,306 Variable-rate debt ​ 4,002 ​ ​ 4,002 ​ 40,000 ​ ​ 40,000 ​ ​ *****

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Policy)6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]
Basis of PresentationBasis of Presentation Our condensed consolidated financial statements include the accounts of our subsidiaries, certain partially owned real estate joint ventures or partnerships and variable interest entities (“VIEs”) which meet the guidelines for consolidation. All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements included in this report are unaudited; however, amounts presented in the condensed consolidated balance sheet as of December 31, 2020 are derived from our audited financial statements at that date. In our opinion, all adjustments necessary for a fair presentation of such financial statements have been included. Such adjustments consisted of normal recurring items. Interim results are not necessarily indicative of results for a full year. The condensed consolidated financial statements and notes are presented as permitted by Form 10-Q and certain information included in our annual financial statements and notes thereto has been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and related notes for the year ended December 31, 2020. Our financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such statements require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. We have evaluated subsequent events for recognition or disclosure in our condensed consolidated financial statements.
Accrued Rent, Accrued Contract Receivables and Accounts Receivable, netAccrued Rent, Accrued Contract Receivables and Accounts Receivable, net The duration of the COVID-19 pandemic and its impact on our tenants’ operations has caused uncertainty in our ongoing ability to collect rents when due. Considering the potential impact of this uncertainty, our collection assessment continues to consider the type of retailer and current discussions with the tenants, as well as recent rent collection experience and tenant bankruptcies based on the best information available to management at the time of evaluation. For the three and six months ended June 30, 2021, rental revenues increased by $1.2 million and $2.9 million, respectively, due to the realization of net recoveries. For the three and six months ended June 30, 2020, rental revenues were reduced by $19.3 million and $28.7 million, respectively, due primarily to COVID lease related reserves and write-offs, which included $4.8 million and $12.4 million, respectively, for straight-line rent receivables. Additionally, we continue to have lease negotiations with tenants directly related to the effects of the COVID-19 pandemic. At June 30, 2021 and December 31, 2020, included in Accrued Rent, Accrued Contract Receivables and Accounts Receivable, net, we have deferred lease concessions not currently due of $5.0 million and $9.6 million, respectively. Additionally for the three and six months ended June 30, 2021, rent abatements totaled $1.5 million and $3.5 million, respectively, which includes $1.3 million and $2.8 million for cash basis tenants. For both the three and six months ended June 30, 2020, $.3 million of rent abatements were recorded (see Note 7 for additional information). Discussions are continuing with tenants as the effects of the COVID-19 pandemic and related mandates evolve.
Restricted Deposits and EscrowsRestricted Deposits and Escrows Restricted deposits are held or restricted for a specific use or in a qualified escrow account for the purposes of completing like-kind exchange transactions. Escrows consist of deposits held by third parties or lenders for a specific use, including capital improvements, rental income and taxes. Our restricted deposits and escrows consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2021 ​ 2020 Restricted deposits ​ $ 11,397 ​ $ 12,122 Escrows ​ ​ 305 ​ ​ 216 Total ​ $ 11,702 ​ $ 12,338
Accumulated Other Comprehensive LossAccumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss by component consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined ​ ​ ​ ​ ​ ​ ​ Benefit ​ ​ ​ ​ ​ ​ ​ ​ Pension ​ ​ ​ ​ ​ Gain on ​ Plan- ​ ​ ​ ​ ​ Cash Flow ​ Actuarial ​ ​ ​ ​ Hedges ​ Loss ​ Total Balance, December 31, 2020 ​ $ (2,724) ​ $ 14,774 ​ $ 12,050 Amounts reclassified from accumulated other comprehensive loss ​ ​ 219 (1) ​ (261) (2) ​ (42) Net other comprehensive loss (income) ​ ​ 219 ​ ​ (261) ​ ​ (42) Balance, March 31, 2021 ​ ​ (2,505) ​ ​ 14,513 ​ ​ 12,008 Amounts reclassified from accumulated other comprehensive loss ​ ​ 221 (1) ​ (282) (2) ​ (61) Net other comprehensive loss (income) ​ ​ 221 ​ ​ (282) ​ ​ (61) Balance, June 30, 2021 ​ $ (2,284) ​ $ 14,231 ​ $ 11,947 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined ​ ​ ​ ​ ​ ​ ​ Benefit ​ ​ ​ ​ ​ ​ ​ ​ Pension ​ ​ ​ ​ ​ Gain on ​ Plan- ​ ​ ​ ​ ​ Cash Flow ​ Actuarial ​ ​ ​ ​ Hedges ​ Loss ​ Total Balance, December 31, 2019 ​ $ (3,614) ​ $ 14,897 ​ $ 11,283 Amounts reclassified from accumulated other comprehensive loss ​ ​ 221 (1) ​ (297) (2) ​ (76) Net other comprehensive loss (income) ​ ​ 221 ​ ​ (297) ​ ​ (76) Balance, March 31, 2020 ​ ​ (3,393) ​ ​ 14,600 ​ ​ 11,207 Amounts reclassified from accumulated other comprehensive loss ​ ​ 224 (1) ​ (273) (2) ​ (49) Net other comprehensive loss (income) ​ ​ 224 ​ ​ (273) ​ ​ (49) Balance, June 30, 2020 ​ ​ (3,169) ​ ​ 14,327 ​ ​ 11,158 (1) This reclassification component is included in interest expense. (2) This reclassification component is included in the computation of net periodic benefit cost (see Note 11 for additional information). Additionally, as of June 30, 2021 and December 31, 2020, the net gain balance in accumulated other comprehensive loss relating to previously terminated cash flow interest rate swap contracts was $2.3 million and $2.7 million, respectively, which will be reclassified to net interest expense as interest payments are made on the originally hedged debt. Within the next 12 months, approximately $.9 million in accumulated other comprehensive loss is expected to be reclassified as a reduction to interest expense related to our interest rate contracts.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]
Schedule Of Restricted Deposits and EscrowsOur restricted deposits and escrows consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2021 ​ 2020 Restricted deposits ​ $ 11,397 ​ $ 12,122 Escrows ​ ​ 305 ​ ​ 216 Total ​ $ 11,702 ​ $ 12,338
Schedule Of Accumulated Other Comprehensive LossChanges in accumulated other comprehensive loss by component consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined ​ ​ ​ ​ ​ ​ ​ Benefit ​ ​ ​ ​ ​ ​ ​ ​ Pension ​ ​ ​ ​ ​ Gain on ​ Plan- ​ ​ ​ ​ ​ Cash Flow ​ Actuarial ​ ​ ​ ​ Hedges ​ Loss ​ Total Balance, December 31, 2020 ​ $ (2,724) ​ $ 14,774 ​ $ 12,050 Amounts reclassified from accumulated other comprehensive loss ​ ​ 219 (1) ​ (261) (2) ​ (42) Net other comprehensive loss (income) ​ ​ 219 ​ ​ (261) ​ ​ (42) Balance, March 31, 2021 ​ ​ (2,505) ​ ​ 14,513 ​ ​ 12,008 Amounts reclassified from accumulated other comprehensive loss ​ ​ 221 (1) ​ (282) (2) ​ (61) Net other comprehensive loss (income) ​ ​ 221 ​ ​ (282) ​ ​ (61) Balance, June 30, 2021 ​ $ (2,284) ​ $ 14,231 ​ $ 11,947 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined ​ ​ ​ ​ ​ ​ ​ Benefit ​ ​ ​ ​ ​ ​ ​ ​ Pension ​ ​ ​ ​ ​ Gain on ​ Plan- ​ ​ ​ ​ ​ Cash Flow ​ Actuarial ​ ​ ​ ​ Hedges ​ Loss ​ Total Balance, December 31, 2019 ​ $ (3,614) ​ $ 14,897 ​ $ 11,283 Amounts reclassified from accumulated other comprehensive loss ​ ​ 221 (1) ​ (297) (2) ​ (76) Net other comprehensive loss (income) ​ ​ 221 ​ ​ (297) ​ ​ (76) Balance, March 31, 2020 ​ ​ (3,393) ​ ​ 14,600 ​ ​ 11,207 Amounts reclassified from accumulated other comprehensive loss ​ ​ 224 (1) ​ (273) (2) ​ (49) Net other comprehensive loss (income) ​ ​ 224 ​ ​ (273) ​ ​ (49) Balance, June 30, 2020 ​ ​ (3,169) ​ ​ 14,327 ​ ​ 11,158 (1) This reclassification component is included in interest expense. (2) This reclassification component is included in the computation of net periodic benefit cost (see Note 11 for additional information).

Property (Tables)

Property (Tables)6 Months Ended
Jun. 30, 2021
Real Estate [Abstract]
Schedule of PropertyOur property consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 Land ​ $ 949,307 ​ $ 948,622 Land held for development ​ 38,726 ​ 39,936 Land under development ​ 1,404 ​ 19,830 Buildings and improvements ​ 3,139,504 ​ 3,082,509 Construction in-progress ​ 58,590 ​ 155,437 Total ​ $ 4,187,531 ​ $ 4,246,334

Investment In Real Estate Joi_2

Investment In Real Estate Joint Ventures And Partnerships (Tables)6 Months Ended
Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Schedule Of Combined Condensed Balance Sheets and Statements of Operations​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 Combined Condensed Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ASSETS ​ ​ ​ ​ Property ​ $ 1,098,782 ​ $ 1,093,504 Accumulated depreciation ​ ​ (291,039) ​ ​ (275,802) Property, net ​ ​ 807,743 ​ ​ 817,702 Other assets, net ​ ​ 79,431 ​ ​ 81,285 Total Assets ​ $ 887,174 ​ $ 898,987 ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND EQUITY ​ ​ Debt, net (primarily mortgages payable) ​ $ 191,089 ​ $ 192,674 Amounts payable to Weingarten Realty Investors and Affiliates ​ ​ 9,038 ​ ​ 9,836 Other liabilities, net ​ ​ 17,846 ​ ​ 15,340 Total Liabilities ​ ​ 217,973 ​ ​ 217,850 Equity ​ ​ 669,201 ​ ​ 681,137 Total Liabilities and Equity ​ $ 887,174 ​ $ 898,987 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ 2021 2020 2021 2020 Combined Condensed Statements of Operations ​ ​ ​ ​ ​ ​ ​ ​ Revenues, net ​ $ 29,613 ​ $ 26,817 ​ $ 59,558 ​ $ 60,556 Expenses: ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ ​ 8,416 ​ ​ 8,902 ​ ​ 16,854 ​ ​ 17,664 Interest, net ​ ​ 1,132 ​ ​ 2,334 ​ ​ 2,756 ​ ​ 4,752 Operating ​ ​ 5,438 ​ ​ 5,462 ​ ​ 11,261 ​ ​ 12,573 Real estate taxes, net ​ ​ 3,592 ​ ​ 4,215 ​ ​ 7,127 ​ ​ 8,615 General and administrative ​ ​ 198 ​ ​ 233 ​ ​ 303 ​ ​ 338 Provision for income taxes ​ ​ 16 ​ ​ 34 ​ ​ 32 ​ ​ 70 Total ​ ​ 18,792 ​ ​ 21,180 ​ ​ 38,333 ​ ​ 44,012 Gain on dispositions ​ ​ 13 ​ ​ 2,090 ​ ​ 61 ​ ​ 46,789 Net income ​ $ 10,834 ​ $ 7,727 ​ $ 21,286 ​ $ 63,333

Debt (Tables)

Debt (Tables)6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule Of DebtOur debt consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 Debt payable, net to 2038 (1) ​ $ 1,707,677 ​ $ 1,723,073 Unsecured notes payable under credit facilities ​ ​ 4,002 ​ ​ 40,000 Debt service guaranty liability ​ ​ 53,650 ​ ​ 53,650 Finance lease obligation ​ ​ 21,633 ​ ​ 21,696 Total ​ $ 1,786,962 ​ $ 1,838,419 (1) At both June 30, 2021 and December 31, 2020, interest rates ranged from 3.3% to 7.0% at a weighted average rate of 3.9% .
Grouping Of Debt Between Fixed And Variable As Well As Secured And UnsecuredThe allocation of total debt between fixed and variable-rate as well as between secured and unsecured is summarized below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 As to interest rate (including the effects of interest rate contracts): ​ ​ ​ ​ Fixed-rate debt ​ $ 1,782,960 ​ $ 1,798,419 Variable-rate debt ​ 4,002 ​ 40,000 Total ​ $ 1,786,962 ​ $ 1,838,419 As to collateralization: ​ ​ ​ Unsecured debt ​ $ 1,453,858 ​ $ 1,488,909 Secured debt ​ 333,104 ​ 349,510 Total ​ $ 1,786,962 ​ $ 1,838,419
Schedule Of Credit FacilitiesThe following table discloses certain information regarding our unsecured notes payable under our credit facilities (in thousands, except percentages): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2021 2020 ​ Unsecured revolving credit facility: ​ ​ ​ ​ ​ Balance outstanding ​ $ — ​ $ 40,000 ​ ​ Available balance ​ 498,068 ​ 458,068 ​ ​ Letters of credit outstanding under facility ​ 1,932 ​ 1,932 ​ ​ Variable interest rate (excluding facility fee) ​ — % 0.94 % ​ Unsecured short-term facility: ​ ​ ​ ​ Balance outstanding ​ $ 4,002 ​ $ — ​ ​ Variable interest rate (excluding facility fee) ​ 1.38 % — % ​ Both facilities: ​ ​ ​ ​ Maximum balance outstanding during the period ​ $ 40,000 ​ $ 497,000 ​ ​ Weighted average balance ​ 2,725 ​ 74,311 ​ ​ Year-to-date weighted average interest rate (excluding facility fee) ​ 0.94 % 1.0 % ​
Principal Payments Of DebtScheduled principal payments on our debt (excluding $4.0 million unsecured notes payable under our revolving credit facilities, $21.6 million of a finance lease obligation, $(2.7) million net premium/(discount) on debt, $(3.9) million of deferred debt costs, $4.9 million of non-cash debt-related items, and $53.7 million debt service guaranty liability) are due during the following years (in thousands): ​ ​ ​ ​ ​ 2021 remaining $ 2,799 2022 ​ ​ 308,298 2023 ​ 348,207 2024 ​ 252,561 2025 ​ 294,232 2026 ​ 277,733 2027 ​ 53,604 2028 ​ 92,159 2029 ​ 70,304 2030 ​ 950 Thereafter ​ 8,569 Total ​ $ 1,709,416

Leasing Operations (Tables)

Leasing Operations (Tables)6 Months Ended
Jun. 30, 2021
Leases [Abstract]
Schedule of Variable Lease, PaymentVariable lease payments recognized in Rentals, net are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ ​ 2021 2020 ​ 2021 2020 Variable lease payments ​ $ 25,268 ​ $ 24,084 ​ $ 52,142 ​ $ 50,961

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)6 Months Ended
Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash and Cash EquivalentsCash, cash equivalents and restricted cash equivalents consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2021 ​ 2020 Cash and cash equivalents $ 73,344 $ 14,203 Restricted deposits and escrows (see Note 1) ​ 11,702 ​ 14,063 Total ​ $ 85,046 ​ $ 28,266
Supplemental disclosure of non-cash transactionsSupplemental disclosure of non-cash transactions is summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, ​ ​ 2021 ​ 2020 Accrued property construction costs $ 3,737 $ 11,880 Right-of-use assets exchanged for operating lease liabilities ​ — ​ 448 Increase in debt, net associated with the acquisition of real estate and land ​ ​ — ​ ​ 17,952

Earnings Per Share (Tables)

Earnings Per Share (Tables)6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]
Components of Earnings Per Common Share - Basic and Diluted​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ ​ 2021 ​ 2020 ​ 2021 ​ 2020 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 14,441 ​ $ 12,377 ​ $ 44,320 ​ $ 66,625 Net income attributable to noncontrolling interests ​ (1,749) ​ (1,009) ​ (3,591) ​ (2,635) Net income attributable to common shareholders – basic and diluted ​ $ 12,692 ​ $ 11,368 ​ $ 40,729 ​ $ 63,990 Denominator: ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding – basic ​ 126,600 ​ 127,242 ​ 126,559 ​ 127,552 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ ​ ​ Share options and awards ​ 1,039 ​ 861 ​ 1,096 ​ 899 Weighted average shares outstanding – diluted ​ 127,639 ​ 128,103 ​ 127,655 ​ 128,451
Anti-Dilutive Securities Of Common SharesAnti-dilutive securities of our common shares, which are excluded from the calculation of earnings per common share – diluted, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ ​ 2021 ​ 2020 2021 ​ 2020 Operating partnership units 1,409 ​ 1,432 ​ 1,419 ​ 1,432 ​ ​ ​ ​ ​ ​ ​ ​ ​

Share Options and Awards (Table

Share Options and Awards (Tables)6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Fair Value Of Market-Based Share Awards Assumptions​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ June 30, 2021 ​ ​ ​ Minimum ​ Maximum ​ Dividend yield 3.5 % 6.0 % Expected volatility (1) 44.0 % 46.0 % Expected life (in years) N/A 3 ​ Risk-free interest rate 0.0 % 0.16 % (1) Includes the volatility of the FTSE NAREIT U.S. Shopping Center Index and Weingarten Realty Investors.
Summary Of The Status Of Unvested Share Awards​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Unvested ​ Grant ​ ​ Share ​ Date Fair ​ ​ Awards ​ Value Outstanding, January 1, 2021 856,295 ​ $ 28.00 Granted: ​ Service-based awards 226,379 ​ 20.90 Market-based awards relative to FTSE NAREIT U.S. Shopping Center Index 104,046 ​ 22.28 Market-based awards relative to three-year absolute TSR 104,045 ​ 21.90 Trust manager awards 17,898 ​ 32.48 Vested (267,205) ​ 25.49 Forfeited (1,052) ​ 24.43 Outstanding, June 30, 2021 1,040,406 ​ $ 26.00

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)6 Months Ended
Jun. 30, 2021
Retirement Benefits [Abstract]
Schedule Of Net Periodic Benefit CostWe sponsor a noncontributory qualified retirement plan. The components of net periodic benefit (income) cost for this plan are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 30, ​ June 30, ​ ​ 2021 ​ 2020 2021 ​ 2020 Service cost $ 457 $ 305 ​ $ 786 $ 578 Interest cost ​ ​ 533 ​ ​ 397 ​ ​ 1,024 ​ ​ 677 Expected return on plan assets ​ ​ (1,488) ​ ​ (840) ​ ​ (2,527) ​ ​ (1,432) Amortization of net loss ​ ​ 282 ​ ​ 273 ​ ​ 543 ​ ​ 570 Total ​ $ (216) ​ $ 135 ​ $ (174) ​ $ 393

Variable Interest Entities (Tab

Variable Interest Entities (Tables)6 Months Ended
Jun. 30, 2021
Consolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Summary Of Variable Interest EntitiesA summary of our consolidated VIEs is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2021 ​ 2020 Assets Held by VIEs (1) $ 211,869 $ 225,719 Assets Held as Collateral for Debt (2) ​ ​ 40,687 ​ ​ 41,798 Maximum Risk of Loss (2) ​ ​ 29,784 ​ ​ 29,784 (1) The decrease between the periods is attributable primarily to disposition activities. (2) Represents the amount of debt and related assets held as collateral associated with the bottom dollar guaranty at one real estate joint venture.
Unconsolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Summary Of Variable Interest EntitiesA summary of our unconsolidated VIEs is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2021 ​ 2020 Investment in Real Estate Joint Ventures and Partnerships, net (1) $ 128,271 $ 133,468 Other Liabilities, net (2) ​ ​ 8,101 ​ ​ 7,624 Maximum Risk of Loss (3) ​ ​ 34,000 ​ ​ 34,000 (1) The carrying amount of the investment represents our contributions to a real estate joint venture, net of any distributions made and our portion of the equity in earnings of the real estate joint venture. (2) Includes the carrying amount of an investment where distributions have exceeded our contributions and our portion of the equity in earnings for a real estate joint venture. (3) The maximum risk of loss has been determined to be limited to our debt exposure for the real estate joint ventures. Additionally, our investment, including contributions and distributions, associated with a mixed-use project is disclosed in (1) above.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]
Assets And Liabilities Measured On Recurring BasisAssets and liabilities measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020, aggregated by the level in the fair value hierarchy in which those measurements fall, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Identical ​ Other ​ Significant ​ ​ ​ ​ ​ Assets ​ Observable ​ Unobservable ​ Fair Value at ​ ​ and Liabilities ​ Inputs ​ Inputs ​ June 30, ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ 2021 Assets: ​ ​ ​ ​ Cash equivalents, primarily money market funds (1) ​ $ 46 ​ ​ ​ $ 46 Restricted cash, primarily money market funds (1) ​ 9,095 ​ ​ ​ 9,095 Investments, mutual funds held in a grantor trust (1) (2) ​ 47,310 ​ ​ ​ 47,310 Total ​ $ 56,451 ​ $ — ​ $ — ​ $ 56,451 Liabilities: ​ ​ ​ ​ Deferred compensation plan obligations (2) ​ $ 47,310 ​ ​ ​ $ 47,310 Total ​ $ 47,310 ​ $ — ​ $ — ​ $ 47,310 (1) For the three and six months ended June 30, 2021, a net gain of $2.8 million and $3.9 million was included in Interest and Other (Expense) Income, net, of which $2.5 million and $3.6 million represented an unrealized gain, respectively. (2) See Note 11 for additional information. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Identical ​ Other ​ Significant ​ ​ ​ ​ ​ Assets ​ Observable ​ Unobservable ​ Fair Value at ​ ​ and Liabilities ​ Inputs ​ Inputs ​ December 31, ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ 2020 Assets: ​ ​ ​ ​ Cash equivalents, primarily money market funds (1) ​ $ 155 ​ ​ ​ $ 155 Restricted cash, primarily money market funds (1) ​ 10,144 ​ ​ ​ 10,144 Investments, mutual funds held in a grantor trust (1) ​ 43,412 ​ ​ ​ 43,412 Total ​ $ 53,711 ​ $ — ​ $ — ​ $ 53,711 Liabilities: ​ ​ ​ ​ Deferred compensation plan obligations ​ $ 43,412 ​ ​ ​ $ 43,412 Total ​ $ 43,412 ​ $ — ​ $ — ​ $ 43,412 (1) For the year ended December 31, 2020, a net gain of $5.1 million was included in Interest and Other Income, net, of which $3.7 million represented an unrealized gain. Included in these amounts for the three and six months ended June 30, 2020 was a net gain of $5.1 million and a net loss of $(.9) million, respectively, of which $4.4 million and $(1.9) million represented an unrealized gain (loss), respectively.
Assets Measured on Nonrecurring Basis​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ Active Markets for ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ Identical ​ Other ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ Observable ​ Unobservable ​ ​ ​ ​ ​ ​ ​ ​ and Liabilities ​ Inputs ​ Inputs ​ ​ ​ ​ Total Gains ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Fair Value ​ (Losses) (1) Property (2) ​ ​ $ 47,746 ​ $ — ​ $ 47,746 ​ $ (12,686) Total ​ $ — ​ $ 47,746 ​ $ — ​ $ 47,746 ​ $ (12,686) (1) Total gains (losses) presented in this table relate to assets that were held by us at December 31, 2020. (2) In accordance with our policy of evaluating and recording impairments on the disposal of long-lived assets, property with a carrying amount $60.4 million was written down to a fair value of $47.7 million, resulting in a loss of $12.7 million, which was included in earnings for the fourth quarter of 2020. Management’s estimate of fair value of these properties were determined using bona fide purchase offers for the Level 2 inputs.
Schedule Of Fair Value DisclosuresSchedule of our fair value disclosures is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ December 31, 2020 ​ ​ ​ ​ ​ Fair Value ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ ​ ​ ​ ​ ​ ​ Using ​ Fair Value ​ ​ ​ ​ Using ​ Fair Value ​ ​ ​ ​ ​ Significant ​ Using ​ ​ ​ ​ Significant ​ Using ​ ​ ​ ​ ​ Other ​ Significant ​ ​ ​ ​ Other ​ Significant ​ ​ ​ ​ ​ Observable ​ Unobservable ​ ​ ​ ​ Observable ​ Unobservable ​ ​ Carrying ​ Inputs ​ Inputs ​ Carrying ​ Inputs ​ Inputs ​ ​ Value ​ (Level 2) ​ (Level 3) Value ​ (Level 2) ​ (Level 3) Other Assets: ​ ​ ​ ​ ​ ​ ​ Tax increment revenue bonds ​ $ 14,758 ​ ​ $ 19,000 ​ $ 14,762 ​ ​ $ 19,000 Debt: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fixed-rate debt ​ 1,782,960 ​ ​ ​ 1,889,306 ​ 1,798,419 ​ ​ ​ 1,905,306 Variable-rate debt ​ 4,002 ​ ​ 4,002 ​ 40,000 ​ ​ 40,000

Summary Of Significant Accoun_4

Summary Of Significant Accounting Policies (Merger) (Details) - USD ($) $ / shares in Units, $ in MillionsJul. 15, 2021Jun. 30, 2021Jun. 30, 2021Apr. 15, 2021
Merger
Merger costs $ 8.4 $ 8.4
Estimated Additional Costs To Be Paid
Merger
Potential merger costs46.1 46.1
Write off of Assets and Liabilities
Merger
Potential merger costs $ 1.1 $ 1.1
Subsequent Event | Special Dividend [Member]
Merger
Common dividends declared (in dollars per share) $ 0.69
Kimco | Weingarten
Merger
Cash to be received for each common share (per share) $ 2.89
Shares to be received for each common share (per share)1.408
Kimco | Weingarten | Subsequent Event
Merger
Cash to be received for each common share (per share) $ 2.20

Summary Of Significant Accoun_5

Summary Of Significant Accounting Policies (Narrative) (Details) $ in Thousands, ft² in Millions3 Months Ended6 Months Ended
Jun. 30, 2021USD ($)ft²customerJun. 30, 2020USD ($)Jun. 30, 2021USD ($)ft²customerJun. 30, 2020USD ($)Dec. 31, 2020USD ($)
Significant Accounting Policies [Line Items]
Square footage of operating properties (in square feet) | ft²29.7 29.7
Accrued Rent, Accrued Contract Receivables and Accounts Receivable, net $ 70,039 $ 70,039 $ 81,016
Interest Rate Contract [Member] | Cash Flow Hedging [Member]
Significant Accounting Policies [Line Items]
Cash flow hedge gain (loss) to be amortized within 12 months $ 900 $ 900
Tenant Base [Member] | Revenue Benchmark [Member]
Significant Accounting Policies [Line Items]
Number of customers | customer2 2
HOUSTON | Geographic Concentration Risk [Member] | Revenue Benchmark [Member]
Significant Accounting Policies [Line Items]
Concentrations of risk24.30%
OTHER PARTS OF TEXAS | Geographic Concentration Risk [Member] | Revenue Benchmark [Member]
Significant Accounting Policies [Line Items]
Concentrations of risk7.90%
FLORIDA | Geographic Concentration Risk [Member] | Revenue Benchmark [Member]
Significant Accounting Policies [Line Items]
Concentrations of risk19.70%
CALIFORNIA | Geographic Concentration Risk [Member] | Revenue Benchmark [Member]
Significant Accounting Policies [Line Items]
Concentrations of risk15.90%
Largest Two Customers Each | Tenant Base [Member] | Revenue Benchmark [Member]
Significant Accounting Policies [Line Items]
Concentrations of risk2.60%
COVID-19 [Member]
Significant Accounting Policies [Line Items]
Net recoveries of adjustments to revenue related to potentially uncollectible revenues and disputed amounts $ 1,200 $ 2,900
Adjustment to revenue related to potentially uncollectible revenues and disputed amounts $ 19,300 $ 28,700
Accrued Rent, Accrued Contract Receivables and Accounts Receivable, net5,000 5,000 $ 9,600
Rent forgiveness1,500 300 3,500 300
Straight Line Rent Receivables [Member]
Significant Accounting Policies [Line Items]
Adjustment to revenue related to potentially uncollectible revenues and disputed amounts $ 4,800 $ 12,400
Cash Basis Tenants [Member]
Significant Accounting Policies [Line Items]
Rent forgiveness $ 1,300 $ 2,800

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Schedule Of Restricted Deposits and Escrows) (Details) - USD ($) $ in ThousandsJun. 30, 2021Dec. 31, 2020Jun. 30, 2020
Accounting Policies [Abstract]
Restricted deposits $ 11,397 $ 12,122
Escrows305 216
Total $ 11,702 $ 12,338 $ 14,063

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Schedule Of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2021Mar. 31, 2021Jun. 30, 2020Mar. 31, 2020Jun. 30, 2021Jun. 30, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance $ (1,795,421) $ (1,800,502) $ (1,866,245) $ (1,876,160) $ (1,800,502) $ (1,876,160)
Net other comprehensive loss (income)(61)(42)(49)(76)(103)(125)
Ending Balance(1,780,463)(1,795,421)(1,855,732)(1,866,245)(1,780,463)(1,855,732)
Gain on Cash Flow Hedges [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance(2,505)(2,724)(3,393)(3,614)(2,724)(3,614)
Amounts reclassified from accumulated other comprehensive loss221 219 224 221
Net other comprehensive loss (income)221 219 224 221
Ending Balance(2,284)(2,505)(3,169)(3,393)(2,284)(3,169)
Defined Benefit Pension Plan [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance14,513 14,774 14,600 14,897 14,774 14,897
Amounts reclassified from accumulated other comprehensive loss(282)(261)(273)(297)
Net other comprehensive loss (income)(282)(261)(273)(297)
Ending Balance14,231 14,513 14,327 14,600 14,231 14,327
Accumulated Other Comprehensive Loss [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance12,008 12,050 11,207 11,283 12,050 11,283
Amounts reclassified from accumulated other comprehensive loss(61)(42)(49)(76)
Net other comprehensive loss (income)(61)(42)(49)(76)
Ending Balance $ 11,947 $ 12,008 $ 11,158 $ 11,207 $ 11,947 $ 11,158

Property (Narrative) (Details)

Property (Narrative) (Details) $ in Thousands1 Months Ended6 Months Ended
Aug. 02, 2021USD ($)CenterJun. 30, 2021USD ($)CenterJun. 30, 2020USD ($)
Property, Plant and Equipment [Line Items]
Number of centers sold | Center1 4
Proceeds from sale and disposition of property $ 43,800 $ 71,400
Gain on sale of property9,611 $ 21,474
Acquisition of real estate property5,200
Investment in new development $ 10,900

Property (Schedule Of Property)

Property (Schedule Of Property) (Details) - USD ($) $ in ThousandsJun. 30, 2021Dec. 31, 2020
Real Estate [Abstract]
Land $ 949,307 $ 948,622
Land held for development38,726 39,936
Land under development1,404 19,830
Buildings and improvements3,139,504 3,082,509
Construction in-progress58,590 155,437
Total $ 4,187,531 $ 4,246,334

Investment In Real Estate Joi_3

Investment In Real Estate Joint Ventures And Partnerships (Narrative) (Details) $ in Thousands1 Months Ended3 Months Ended6 Months Ended12 Months Ended
Aug. 02, 2021USD ($)CenterDec. 31, 2020USD ($)Jun. 30, 2021USD ($)Jun. 30, 2020USD ($)Jun. 30, 2021USD ($)CenterJun. 30, 2020USD ($)Dec. 31, 2020USD ($)Center
Schedule of Equity Method Investments [Line Items]
Net basis differentials for equity method investments $ 10,700 $ 10,500 $ 10,500 $ 10,700
Joint venture fee income $ 1,300 $ 1,100 $ 2,900 $ 2,700
Number of centers sold | Center1 4
Proceeds from sale of property $ 43,800 $ 71,400
Gain on sale of property9,611 21,474
Acquisition of real estate property5,200
Real estate joint ventures and partnerships - Investments $ 2,075 4,391
Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures20.00%20.00%20.00%20.00%
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures90.00%90.00%90.00%90.00%
COVID-19 [Member]
Schedule of Equity Method Investments [Line Items]
Net recoveries of adjustments to revenue related to potentially uncollectible revenues and disputed amounts $ 1,200 $ 2,900
Adjustment to revenue related to potentially uncollectible revenues and disputed amounts19,300 28,700
Entity's share of the adjustment to revenue related to potentially uncollectible revenues and disputed amounts1,700
Straight Line Rent Receivables [Member]
Schedule of Equity Method Investments [Line Items]
Adjustment to revenue related to potentially uncollectible revenues and disputed amounts4,800 12,400
Entity's share of the adjustment to revenue related to potentially uncollectible revenues and disputed amounts400
Disposal Group, Multiple Centers [Member]
Schedule of Equity Method Investments [Line Items]
Number of centers sold | Center2
Number of centers sold the Entity had interest in | Center2
Proceeds From divestitures $ 148,300
Gain on sale of property $ 23,500
Disposal Group, Multiple Centers [Member] | Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures20.00%20.00%
Disposal Group, Multiple Centers [Member] | Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures50.00%50.00%
Investment Mixed Use New Development [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures90.00%90.00%
Real estate joint ventures and partnerships - Investments $ 8,700
Unconsolidated joint venture
Schedule of Equity Method Investments [Line Items]
Variable-rate debt170,000 170,000
Unconsolidated joint venture | COVID-19 [Member]
Schedule of Equity Method Investments [Line Items]
Net recoveries of adjustments to revenue related to potentially uncollectible revenues and disputed amounts300 1,000
Entity's share of net recoveries of adjustments to revenue related to potentially uncollectible revenues and disputed amount $ 100 $ 200
Adjustment to revenue related to potentially uncollectible revenues and disputed amounts5,100 5,900
Entity's share of the adjustment to revenue related to potentially uncollectible revenues and disputed amounts2,000
Unconsolidated joint venture | Straight Line Rent Receivables [Member]
Schedule of Equity Method Investments [Line Items]
Adjustment to revenue related to potentially uncollectible revenues and disputed amounts $ 1,700 2,600
Entity's share of the adjustment to revenue related to potentially uncollectible revenues and disputed amounts $ 700
Unconsolidated joint venture | Exercised Renewal Option [Member]
Schedule of Equity Method Investments [Line Items]
Period of debt extension (in years)1 year
Unconsolidated joint venture | Outstanding Renewal Option [Member]
Schedule of Equity Method Investments [Line Items]
Period of debt extension (in years)1 year
Unconsolidated joint venture | Partnership interest
Schedule of Equity Method Investments [Line Items]
Ownership of joint venture percentage42.25%42.25%
Acquisition of real estate property $ 115,200
Unconsolidated joint venture | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures20.00%
Proceeds from sale of property $ 25,500

Investment In Real Estate Joi_4

Investment In Real Estate Joint Ventures And Partnerships (Schedule Of Combined Condensed Balance Sheets) (Details) - USD ($) $ in ThousandsJun. 30, 2021Mar. 31, 2021Dec. 31, 2020Jun. 30, 2020Mar. 31, 2020Dec. 31, 2019
ASSETS
Property $ 4,187,531 $ 4,246,334
Accumulated Depreciation(1,193,095)(1,161,970)
Property, net2,994,436 3,084,364
Other, net209,080 205,074
Total Assets3,881,773 3,961,400
LIABILITIES AND EQUITY
Debt, net (primarily mortgages payable)1,786,962 1,838,419
Other liabilities, net218,369 217,489
Total Liabilities2,101,310 2,160,898
Equity1,780,463 $ 1,795,421 1,800,502 $ 1,855,732 $ 1,866,245 $ 1,876,160
Total Liabilities and Equity3,881,773 3,961,400
Unconsolidated joint venture
ASSETS
Property1,098,782 1,093,504
Accumulated Depreciation(291,039)(275,802)
Property, net807,743 817,702
Other, net79,431 81,285
Total Assets887,174 898,987
LIABILITIES AND EQUITY
Debt, net (primarily mortgages payable)191,089 192,674
Amounts payable to Weingarten Realty Investors and Affiliates9,038 9,836
Other liabilities, net17,846 15,340
Total Liabilities217,973 217,850
Equity669,201 681,137
Total Liabilities and Equity $ 887,174 $ 898,987

Investment In Real Estate Joi_5

Investment In Real Estate Joint Ventures And Partnerships (Schedule Of Combined Condensed Statements Of Operations) (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2021Mar. 31, 2021Jun. 30, 2020Mar. 31, 2020Jun. 30, 2021Jun. 30, 2020
Schedule of Equity Method Investments [Line Items]
Revenues, net $ 122,665 $ 98,135 $ 244,036 $ 209,487
Expenses
Depreciation and amortization40,022 37,627 78,578 74,283
Interest, net17,303 15,776 33,922 30,378
Operating22,767 19,978 46,054 43,138
Real estate taxes, net16,285 15,733 33,020 30,741
General and administrative11,691 12,920 22,295 15,227
Provision for income taxes86 343 324 515
Gain on dispositions480 7,898 9,611 21,474
Net Income14,441 $ 29,879 12,377 $ 54,248 44,320 66,625
Unconsolidated joint venture
Schedule of Equity Method Investments [Line Items]
Revenues, net29,613 26,817 59,558 60,556
Expenses
Depreciation and amortization8,416 8,902 16,854 17,664
Interest, net1,132 2,334 2,756 4,752
Operating5,438 5,462 11,261 12,573
Real estate taxes, net3,592 4,215 7,127 8,615
General and administrative198 233 303 338
Provision for income taxes16 34 32 70
Total18,792 21,180 38,333 44,012
Gain on dispositions13 2,090 61 46,789
Net Income $ 10,834 $ 7,727 $ 21,286 $ 63,333

Debt (Narrative) (Details)

Debt (Narrative) (Details) $ in ThousandsDec. 11, 2019USD ($)itemJun. 30, 2021USD ($)Dec. 31, 2020USD ($)Mar. 24, 2021USD ($)
Debt Instrument [Line Items]
Debt service guaranty liability $ 53,650 $ 53,650
Debt instruments collateral value605,700 634,400
Unsecured notes payable under credit facilities4,002 40,000
Finance lease obligation21,633 $ 21,696
Net premium/(discount) on debt(2,700)
Deferred finance costs, net(3,900)
Non-cash debt4,900
Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under credit facility $ 500,000
Number of credit facility 6-month extensions | item2
Line of credit facility, extension period6 months
Bids amount (up to)250,000
Maximum increase in credit facility amount (up to) $ 850,000
Commitment fee percentage0.15%0.15%
Unsecured notes payable under credit facilities $ 0 $ 40,000
Debt Service Guaranty [Member]
Debt Instrument [Line Items]
Debt coverage ratio1.4
Short-Term Unsecured Facility [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under credit facility $ 10,000
Commitment fee percentage0.10%0.10%
Unused capacity, commitment fee percentage0.05%0.05%
London Interbank Offered Rate (LIBOR) [Member] | Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate0.825%0.825%
Thirty-Day LIBOR [Member] | Short-Term Unsecured Facility [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Basis spread on variable rate1.25%1.25%
Financial Standby Letter of Credit [Member]
Debt Instrument [Line Items]
Securities pledged as collateral $ 6,000 $ 6,000
Guarantor obligations, maximum exposure, undiscounted $ 6,000 $ 6,000

Debt (Schedule Of Debt) (Detail

Debt (Schedule Of Debt) (Details) - USD ($) $ in ThousandsJun. 30, 2021Dec. 31, 2020
Debt Instrument [Line Items]
Debt payable, net to 2038 $ 1,707,677 $ 1,723,073
Unsecured notes payable under credit facilities4,002 40,000
Debt service guaranty liability53,650 53,650
Finance lease obligation21,633 21,696
Total $ 1,786,962 $ 1,838,419
Debt Payable Due Date Two Thousand Thirty Eight [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt stated interest rate3.30%3.30%
Debt Payable Due Date Two Thousand Thirty Eight [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt stated interest rate7.00%7.00%
Debt Payable Due Date Two Thousand Thirty Eight [Member] | Weighted Average [Member]
Debt Instrument [Line Items]
Debt stated interest rate3.90%3.90%

Debt (Grouping Of Debt Between

Debt (Grouping Of Debt Between Fixed And Variable As Well As Secured And Unsecured) (Details) - USD ($) $ in ThousandsJun. 30, 2021Dec. 31, 2020
Debt Instrument [Line Items]
Total $ 1,786,962 $ 1,838,419
As To Interest Rate [Member]
Debt Instrument [Line Items]
Fixed-rate debt1,782,960 1,798,419
Variable-rate debt4,002 40,000
Total1,786,962 1,838,419
As To Collateralization [Member]
Debt Instrument [Line Items]
Unsecured debt1,453,858 1,488,909
Secured debt333,104 349,510
Total $ 1,786,962 $ 1,838,419

Debt (Schedule Of Credit Facili

Debt (Schedule Of Credit Facilities) (Details) - USD ($) $ in Thousands6 Months Ended12 Months Ended
Jun. 30, 2021Dec. 31, 2020
Line of Credit Facility [Line Items]
Balance outstanding $ 4,002 $ 40,000
Maximum balance outstanding during the period40,000 497,000
Weighted average balance $ 2,725 $ 74,311
Year-to-date weighted average interest rate (excluding facility fee)0.94%1.00%
Unsecured Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Balance outstanding $ 0 $ 40,000
Available balance $ 498,068 $ 458,068
Variable interest rate (excluding facility fee)0.00%0.94%
Letters of Credit [Member]
Line of Credit Facility [Line Items]
Letters of credit outstanding under facility $ 1,932 $ 1,932
Short-Term Unsecured Facility [Member]
Line of Credit Facility [Line Items]
Balance outstanding $ 4,002 $ 0
Variable interest rate (excluding facility fee)1.38%0.00%

Debt (Principal Payments Of Deb

Debt (Principal Payments Of Debt) (Details) $ in ThousandsJun. 30, 2021USD ($)
Debt Disclosure [Abstract]
2021 remaining $ 2,799
2022308,298
2023348,207
2024252,561
2025294,232
2026277,733
202753,604
202892,159
202970,304
2030950
Thereafter8,569
Total $ 1,709,416

Common Shares of Beneficial I_2

Common Shares of Beneficial Interest (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in MillionsJul. 15, 2021Jun. 30, 2021Dec. 31, 2020Aug. 02, 2021
Class of Stock [Line Items]
Value of shares approved to be repurchased $ 200
Stock repurchase program, remaining authorized repurchase amount $ 149.4 $ 149.4
Stock Repurchased During Period, Shares0 1.7
Average price of share repurchased (in dollars per share) $ 19.09
Subsequent Event | Special Dividend [Member]
Class of Stock [Line Items]
Common dividends declared (in dollars per share) $ 0.69

Leasing Operations (Details)

Leasing Operations (Details) - USD ($) $ in Millions3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
COVID-19 [Member]
Lessor, Lease, Description [Line Items]
Rent forgiveness $ 1.5 $ 0.3 $ 3.5 $ 0.3
Non Cash Basis Tenants [Member]
Lessor, Lease, Description [Line Items]
Rent forgiveness $ 0.2 $ 0.3 $ 0.7 $ 0.3
Maximum [Member]
Lessor, Lease, Description [Line Items]
Lease term10 years10 years
Lease renewal term5 years5 years

Leasing Operations Variable lea

Leasing Operations Variable lease payments recognized in Rentals, net (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Leases [Abstract]
Variable lease payments $ 25,268 $ 24,084 $ 52,142 $ 50,961

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in ThousandsJun. 30, 2021Dec. 31, 2020Jun. 30, 2020Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents $ 73,344 $ 35,418 $ 14,203
Restricted deposits and escrows11,702 12,338 14,063
Total $ 85,046 $ 47,756 $ 28,266 $ 55,291

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information (Summary of Non-Cash Transactions) (Details) - USD ($) $ in Thousands6 Months Ended
Jun. 30, 2021Jun. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Accrued property construction costs $ 3,737 $ 11,880
Right-of-use assets exchanged for operating lease liabilities448
Increase in debt, net associated with the acquisition of real estate and land $ 17,952

Earnings Per Share (Components

Earnings Per Share (Components Of Earnings Per Common Share - Basic And Diluted) (Details) - USD ($) shares in Thousands, $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2021Mar. 31, 2021Jun. 30, 2020Mar. 31, 2020Jun. 30, 2021Jun. 30, 2020
Numerator:
Net Income $ 14,441 $ 29,879 $ 12,377 $ 54,248 $ 44,320 $ 66,625
Net income attributable to noncontrolling interests(1,749)(1,009)(3,591)(2,635)
Net income attributable to common shareholders - basic and diluted $ 12,692 $ 11,368 $ 40,729 $ 63,990
Denominator:
Weighted average shares outstanding - basic (in shares)126,600 127,242 126,559 127,552
Effect of dilutive securities:
Share options and awards (in shares)1,039 861 1,096 899
Weighted average shares outstanding - diluted (in shares)127,639 128,103 127,655 128,451

Earnings Per Share (Schedule Of

Earnings Per Share (Schedule Of Anti-Dilutive Securities Of Common Shares) (Details) - shares shares in Thousands3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Operating partnership units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)1,409 1,432 1,419 1,432

Share Options And Awards (Narra

Share Options And Awards (Narrative) (Details) - USD ($) $ in MillionsJul. 15, 2021Jun. 30, 2021Dec. 31, 2020
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense $ 2.7 $ 1.8
Weighted average expected amortization period for unrecognized compensation cost (in years)2 years1 year 7 months 6 days
Service-Based Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded226,379
Share-based Payment Arrangement, Employee [Member] | Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period3 years
Shares awarded139,355
Compensation cost $ 4.5 $ 3.8

Share Options and Awards (Fair

Share Options and Awards (Fair Value Of Market-Based Share Awards Assumptions) (Details) - Restricted Shares [Member]6 Months Ended
Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum44.00%
Expected volatility, maximum46.00%
Expected life (in years)3 years
Risk-free interest rate, minimum0.00%
Risk-free interest rate, maximum0.16%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield3.50%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield6.00%

Share Options and Awards (Summa

Share Options and Awards (Summary Of The Status Of Unvested Share Awards) (Details)6 Months Ended
Jun. 30, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested share awards, forfeited (in shares) | shares(1,052)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value, forfeited (in dollars per share) | $ / shares $ 24.43
Service-Based Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested share awards, granted (in shares) | shares226,379
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value, granted (in dollars per share) | $ / shares $ 20.90
Market-Based Awards Relative To FTSE NAREIT U.S. Shopping Center Index [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested share awards, granted (in shares) | shares104,046
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value, granted (in dollars per share) | $ / shares $ 22.28
Market-Based Awards Relative To Three-Year Absolute Total Shareholder Return [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested share awards, granted (in shares) | shares104,045
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value, granted (in dollars per share) | $ / shares $ 21.90
Trust Manager Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested share awards, granted (in shares) | shares17,898
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value, granted (in dollars per share) | $ / shares $ 32.48
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested share awards, outstanding, January 1, 2021 (in shares) | shares856,295
Unvested share awards, vested (in shares) | shares(267,205)
Unvested share awards, outstanding, June 30, 2021 (in shares) | shares1,040,406
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted average grant date fair value, outstanding, January 1, 2021 (in dollars per share) | $ / shares $ 28
Weighted average grant date fair value, vested (in dollars per share) | $ / shares25.49
Weighted average grant date fair value, outstanding, June 30, 2021 (in dollars per share) | $ / shares $ 26

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions3 Months Ended6 Months Ended12 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020Dec. 31, 2020
Retirement Benefits [Abstract]
Defined benefit plan, expected future employer contributions, remainder of fiscal year $ 0 $ 0
Employer contributions $ 1
Defined contribution plan, compensation expense $ 1 $ 0.9 $ 2.1 $ 2

Employee Benefit Plans (Schedul

Employee Benefit Plans (Schedule Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Retirement Benefits [Abstract]
Service cost $ 457 $ 305 $ 786 $ 578
Interest cost533 397 1,024 677
Expected return on plan assets(1,488)(840)(2,527)(1,432)
Amortization of net loss282 273 543 570
Total $ (216) $ 135 $ (174) $ 393

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) $ in Millions6 Months Ended12 Months Ended
Jun. 30, 2021USD ($)PartnershipDec. 31, 2020USD ($)Partnership
Maximum [Member]
Long-term Purchase Commitment [Line Items]
Potential termination fee if the Merger does not occur $ 115
Capital Additions [Member]
Long-term Purchase Commitment [Line Items]
Purchase contract, commitment $ 42.2
Capital Additions [Member] | Minimum [Member]
Long-term Purchase Commitment [Line Items]
Construction contract, period (in months)12 months
Capital Additions [Member] | Maximum [Member]
Long-term Purchase Commitment [Line Items]
Construction contract, period (in months)36 months
DownREIT [Member]
Long-term Purchase Commitment [Line Items]
Number of real estate joint ventures | Partnership2 2
Aggregate redemption value $ 45 $ 31
Estimated Additional Costs To Be Paid
Long-term Purchase Commitment [Line Items]
Potential merger costs46.1
Write off of Assets and Liabilities
Long-term Purchase Commitment [Line Items]
Potential merger costs $ 1.1

Variable Interest Entities (Nar

Variable Interest Entities (Narrative) (Details) $ in Millions6 Months Ended12 Months Ended
Jun. 30, 2021USD ($)itempropertyDec. 31, 2020itemproperty
Consolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Number of VIE real estate joint ventures8 8
Number of real estate properties | property19 21
Number of VIE real estate joint ventures guaranteed by company1 1
Unconsolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Number of VIE real estate joint ventures2 2
Number of joint venture arrangements1 1
Number of loan renewal options2
Period of debt extension (in years)1 year
Variable-rate debt | $ $ 170

Variable Interest Entities (Sum

Variable Interest Entities (Summary Of Consolidated Variable Interest Entities) (Details) $ in Thousands6 Months Ended12 Months Ended
Jun. 30, 2021USD ($)itemDec. 31, 2020USD ($)item
Variable Interest Entity [Line Items]
Assets $ 3,881,773 $ 3,961,400
Consolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Assets211,869 225,719
Maximum Risk of Loss $ 29,784 $ 29,784
Number of VIE real estate joint ventures guaranteed by company | item1 1
Asset Pledged as Collateral [Member] | Consolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Assets $ 40,687 $ 41,798

Variable Interest Entities (S_2

Variable Interest Entities (Summary Of Unconsolidated Variable Interest Entities) (Details) - USD ($) $ in ThousandsJun. 30, 2021Dec. 31, 2020
Variable Interest Entity [Line Items]
Investment in Real Estate Joint Ventures and Partnerships, net $ 362,132 $ 369,038
Other liabilities, net218,369 217,489
Unconsolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Investment in Real Estate Joint Ventures and Partnerships, net128,271 133,468
Maximum risk of loss34,000 34,000
Unconsolidated Variable Interest Entities [Member] | Other Liabilities [Member]
Variable Interest Entity [Line Items]
Other liabilities, net $ 8,101 $ 7,624

Fair Value Measurements (Assets

Fair Value Measurements (Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended12 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020Dec. 31, 2020
Assets:
Restricted cash, primarily money market funds $ 11,397 $ 11,397 $ 12,122
Liabilities:
Gain (loss) included in interest and other (Expense) Income2,800 $ (5,100)3,900 $ (900)5,100
Equity securities, unrealized gain (loss)2,500 $ (4,400)3,600 $ (1,900)3,700
Recurring [Member]
Assets:
Assets, fair value disclosure56,451 56,451 53,711
Liabilities:
Deferred compensation plan obligations47,310 47,310 43,412
Total47,310 47,310 43,412
Recurring [Member] | Money Market Funds [Member]
Assets:
Cash equivalents46 46 155
Restricted cash, primarily money market funds9,095 9,095 10,144
Recurring [Member] | Grantor Trusts [Member]
Assets:
Investments, mutual funds held in a grantor trust47,310 47,310 43,412
Recurring [Member] | Quoted Prices In Active Markets For Identical Assets And Liabilities (Level 1) [Member]
Assets:
Assets, fair value disclosure56,451 56,451 53,711
Liabilities:
Deferred compensation plan obligations47,310 47,310 43,412
Total47,310 47,310 43,412
Recurring [Member] | Quoted Prices In Active Markets For Identical Assets And Liabilities (Level 1) [Member] | Money Market Funds [Member]
Assets:
Cash equivalents46 46 155
Restricted cash, primarily money market funds9,095 9,095 10,144
Recurring [Member] | Quoted Prices In Active Markets For Identical Assets And Liabilities (Level 1) [Member] | Grantor Trusts [Member]
Assets:
Investments, mutual funds held in a grantor trust $ 47,310 $ 47,310 $ 43,412

Fair Value Measurements (Asse_2

Fair Value Measurements (Assets And Liabilities Measured On Nonrecurring Basis) (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended12 Months Ended
Jun. 30, 2021Jun. 30, 2021Jun. 30, 2020Dec. 31, 2020
Assets:
Total Gains (Losses) $ (122) $ (447) $ (44)
Fair Value, Nonrecurring [Member]
Assets:
Assets, fair value $ 0 $ 0 $ 47,746
Total Gains (Losses)(12,686)
Fair Value, Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets:
Assets, fair value47,746
Fair Value, Nonrecurring [Member] | Property, Plant and Equipment [Member]
Assets:
Assets, fair value47,746
Total Gains (Losses)(12,686)
Fair Value, Nonrecurring [Member] | Property, Plant and Equipment [Member] | Carrying Value [Member]
Assets:
Assets, fair value60,400
Fair Value, Nonrecurring [Member] | Property, Plant and Equipment [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets:
Assets, fair value $ 47,746

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule Of Fair Value Disclosures) (Details) - USD ($) $ in ThousandsJun. 30, 2021Dec. 31, 2020
Carrying Value [Member] | Fixed-Rate Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure $ 1,782,960 $ 1,798,419
Carrying Value [Member] | Variable Rate Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure4,002 40,000
Fair Value [Member] | Fixed-Rate Debt [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure1,889,306 1,905,306
Fair Value [Member] | Variable Rate Debt [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure4,002 40,000
Tax Increment Revenue Bonds [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Securities, Held-to-maturity, Fair Value14,758 14,762
Tax Increment Revenue Bonds [Member] | Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Securities, Held-to-maturity, Fair Value $ 19,000 $ 19,000