Weingarten Realty Investors (WRI) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	May 05, 2020
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity Registrant Name	Weingarten Realty Investors
Entity File Number	1-9876
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	74-1464203
Entity Address, Address Line One	2600 Citadel Plaza Drive
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77292-4133
City Area Code	(713)
Local Phone Number	866-6000
Title of 12(b) Security	Common Shares of Beneficial Interest, $.03 par value
Trading Symbol	WRI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		128,103,208
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
Entity Central Index Key	0000828916
Current Fiscal Year End Date	--12-31

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Rentals, net	$ 108,050	$ 119,826
Other	3,302	3,312
Total Revenues	111,352	123,138
Operating Expenses:
Depreciation and amortization	36,656	33,972
Operating	23,160	24,248
Real estate taxes, net	15,008	16,131
Impairment loss	44	74
General and administrative	2,307	9,581
Total Operating Expenses	77,175	84,006
Other Income (Expense):
Interest expense, net	(14,602)	(15,289)
Interest and other (expense) income, net	(5,828)	4,384
Gain on sale of property	13,576	17,787
Total Other (Expense) Income	(6,854)	6,882
Income Before Income Taxes and Equity in Earnings of Real Estate Joint Ventures and Partnerships	27,323	46,014
Provision for Income Taxes	(172)	(177)
Equity in Earnings of Real Estate Joint Ventures and Partnerships, net	27,097	5,417
Net Income	54,248	51,254
Less: Net Income Attributable to Noncontrolling Interests	(1,626)	(1,588)
Net Income Attributable to Common Shareholders	$ 52,622	$ 49,666
Earnings Per Common Share - Basic:
Net income attributable to common shareholders (dollars per share)	$ 0.41	$ 0.39
Earnings Per Common Share - Diluted:
Net income attributable to common shareholders (dollars per share)	$ 0.41	$ 0.39

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 54,248	$ 51,254
Other Comprehensive Income (Loss):
Reclassification adjustment of derivatives and designated hedges into net income	(221)	(219)
Retirement liability adjustment	297	288
Total	76	69
Comprehensive Income	54,324	51,323
Comprehensive Income Attributable to Noncontrolling Interests	(1,626)	(1,588)
Comprehensive Income Adjusted for Noncontrolling Interests	$ 52,698	$ 49,735

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Property	$ 4,205,978	$ 4,145,249
Accumulated Depreciation	(1,130,846)	(1,110,675)
Property, net *	3,075,132	3,034,574
Investment in Real Estate Joint Ventures and Partnerships, net	401,641	427,947
Total	3,476,773	3,462,521
Unamortized Lease Costs, net	151,844	148,479
Accrued Rent, Accrued Contract Receivables and Accounts Receivable (net of allowance for doubtful accounts of $8,132 in 2020)*	61,407	83,639
Cash and Cash Equivalents *	484,697	41,481
Restricted Deposits and Escrows	30,804	13,810
Other, net	179,263	188,004
Total Assets	4,384,788	3,937,934
LIABILITIES AND EQUITY
Debt, net *	2,229,193	1,732,338
Accounts Payable and Accrued Expenses	84,212	111,666
Other, net	205,138	217,770
Total Liabilities	2,518,543	2,061,774
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:128,103 in 2020 and 128,702 in 2019	3,890	3,905
Additional Paid-In Capital	1,767,559	1,779,986
Net Income Less Than Accumulated Dividends	(73,317)	(74,293)
Accumulated Other Comprehensive Loss	(11,207)	(11,283)
Total Shareholders' Equity	1,686,925	1,698,315
Noncontrolling Interests	179,320	177,845
Total Equity	1,866,245	1,876,160
Total Liabilities and Equity	4,384,788	3,937,934
* Consolidated variable interest entities' assets and debt included in the above balances (see Note 13):
Property, net	196,555	196,636
Accrued Rent, Accrued Contract Receivables and Accounts Receivable, net	7,903	10,548
Cash and Cash Equivalents	7,934	8,135
Debt, net	$ 44,792	$ 44,993

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 8,132
Common Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 275,000; shares issued and outstanding: 128,673 in 2019 and 128,333 in 2018
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)	128,103	128,702
Common Shares of Beneficial Interest - shares outstanding (shares)	128,103	128,702

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows from Operating Activities:
Net Income	$ 54,248	$ 51,254
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	36,656	33,972
Amortization of debt deferred costs and intangibles, net	709	820
Non-cash lease expense	324	299
Impairment loss	44	74
Equity in earnings of real estate joint ventures and partnerships, net	(27,097)	(5,417)
Gain on sale of property	(13,576)	(17,787)
Distributions of income from real estate joint ventures and partnerships	14,962	3,384
Changes in accrued rent, accrued contract receivables and accounts receivable, net	16,377	20,002
Changes in unamortized lease costs and other assets, net	6,296	(2,736)
Changes in accounts payable, accrued expenses and other liabilities, net	(31,551)	(28,742)
Other, net	6,629	1,257
Net cash provided by operating activities	64,021	56,380
Cash Flows from Investing Activities:
Acquisition of real estate and land, net	(25,506)	(19,699)
Development and capital improvements	(44,404)	(48,476)
Proceeds from sale of property and real estate equity investments, net	45,053	65,543
Real estate joint ventures and partnerships - Investments	(3,176)	(9,094)
Real estate joint ventures and partnerships - Distribution of capital	16,433	554
Proceeds from investments		8,375
Other, net	(161)	1,363
Net cash used in investing activities	(11,761)	(1,434)
Cash Flows from Financing Activities:
Principal payments of debt	(18,749)	(1,576)
Changes in unsecured credit facilities	497,000	(5,000)
Proceeds from issuance of common shares of beneficial interest, net	167	727
Repurchase of common shares of beneficial interest, net	(18,219)	0
Common share dividends paid	(50,935)	(50,816)
Debt issuance and extinguishment costs paid	(2)	(147)
Distributions to noncontrolling interests	(1,301)	(1,572)
Contributions from noncontrolling interests	1,150	326
Other, net	(1,161)	(1,321)
Net cash provided by (used in) financing activities	407,950	(59,379)
Net increase (decrease) in cash, cash equivalents and restricted cash equivalents	460,210	(4,433)
Cash, cash equivalents and restricted cash equivalents at January 1	55,291	76,137
Cash, cash equivalents and restricted cash equivalents at March 31	515,501	71,704
Cash paid for interest (net of amount capitalized of $2,663 and $2,921, respectively)	17,474	18,151
Cash paid for amounts included in operating lease liabilities	$ 1,096	$ 1,015

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Cash Flows [Abstract]
Capitalized interest paid	$ 2,663	$ 2,921

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Common Shares of Beneficial Interest	Additional Paid-In Capital	Net Income Less Than Accumulated Dividends	Accumulated Other Comprehensive Loss	Noncontrolling Interests	Total
Beginning Balance at Dec. 31, 2018	$ 3,893	$ 1,766,993	$ (186,431)	$ (10,549)	$ 176,793	$ 1,750,699
Increase (Decrease) in Equity [Roll Forward]
Net Income			49,666		1,588	51,254
Shares issued under benefit plans, net	10	8,141				8,151
Dividends paid - common shares			(50,816)			(50,816)
Distributions to noncontrolling interests					(1,572)	(1,572)
Contributions from noncontrolling interests					326	326
Other comprehensive income				69		69
Other, net		1,955			368	2,323
Ending Balance at Mar. 31, 2019	3,903	1,777,089	(187,581)	(10,480)	177,503	1,760,434
Beginning Balance at Dec. 31, 2019	3,905	1,779,986	(74,293)	(11,283)	177,845	1,876,160
Increase (Decrease) in Equity [Roll Forward]
Net Income			52,622		1,626	54,248
Shares repurchased and cancelled	(25)	(18,194)				(18,219)
Shares issued under benefit plans, net	10	5,767				5,777
Dividends paid - common shares			(50,935)			(50,935)
Distributions to noncontrolling interests					(1,301)	(1,301)
Contributions from noncontrolling interests					1,150	1,150
Other comprehensive income				76		76
Ending Balance at Mar. 31, 2020	$ 3,890	$ 1,767,559	(73,317)	$ (11,207)	$ 179,320	1,866,245
Increase (Decrease) in Equity [Roll Forward]
Cumulative effect adjustment of new accounting standards			$ (711)			$ (711)

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Equity (Unaudited) - (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Common dividend per share (in dollars per share)	$ 0.395	$ 0.395

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 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 31.5 million square feet of gross leasable area that is either owned by us or others. We have a diversified tenant base, with our largest tenant comprising only 2.6% of base minimum rental revenues during the first three months of 2020. Total revenues generated by our centers located in Houston and its surrounding areas was 19.6% of total revenue for the three months ended March 31, 2020, and an additional 9.4% 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 21.3% and 17.2%, respectively, of total revenue was generated during the first three months of 2020. Currently, the novel coronavirus disease (“COVID-19”) pandemic has created risks and uncertainties surrounding our operations and geographic concentrations. The pandemic has resulted in the closure of non-essential businesses, consumer/employee stay-at-home provisions and contributed to the recent historic reduction in energy prices. Given this rapidly evolving situation, the full magnitude of these matters and their ultimate effect are uncertain at this time. ​ 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, 2019 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, 2019. 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 (see Note 15). Leases In April 2020, the Financial Accounting Standards Board ("FASB") published a Staff Q&A regarding Accounting for Lease Concessions Related to the Effects of the COVID-19 pandemic. As the pandemic is expected to result in numerous tenant rent and lease concessions, the intent of the publication was to provide relief to lessors in assessing whether a lease modification exists. The FASB publication provides for an election to account for lease concessions, directly related to the effects of the COVID-19 pandemic, consistent with how those concessions would be accounted for as though enforceable rights and obligations for those concessions existed in the original contract. Accordingly, an entity would not have to analyze each contract to determine whether those rights exist in the contract and can elect to apply or not apply lease modification guidance to those contracts. This election is available for COVID-19 related concessions that do not result in a substantial increase in the rights of the lessor or the obligations of the lessee and the total payments required by the modified lease are substantially the same as or less than total payments required by the original lease. We currently anticipate electing as of April 1, 2020, the effective date, to not apply lease modification guidance to those contracts. As of March 31, 2020, no Accrued Rent, Accrued Contract Receivables and Accounts Receivable, net Receivables are relatively short-term in nature with terms due in less than one year. Receivables include rental revenue, amounts billed and currently due from customer contracts and receivables attributable to straight-line rental commitments. Accrued contract receivables includes amounts due from customers for contracts that do not qualify as a lease in which we earned the right to the consideration through the satisfaction of the performance obligation, but before the customer pays consideration or before payment is due. Individual leases are assessed for collectability and upon the determination that the collection of rents is not probable, accrued rent and accounts receivables are reduced as an adjustment to rental revenues. Revenue from leases where collection is deemed to be less than probable is recorded on a cash basis until collectability is determined to be probable. Further, we assess whether operating lease receivables, at a portfolio level, are appropriately valued based upon an analysis of balances outstanding, historical bad debt levels and current economic trends. An allowance for the uncollectible portion of the portfolio is recorded as an adjustment to rental revenues. Additionally, estimates of the expected recovery of pre-petition and post-petition claims with respect to tenants in bankruptcy are considered in assessing the collectability of the related receivables. Management’s estimate of the collectability of accrued rents and accounts receivable is based on the best information available to management at the time of evaluation. At March 31, 2020, the overall impact attributable to the COVID-19 pandemic was a $9.0 million adjustment associated with potentially uncollectible revenues and disputed amounts, which includes $7.0 million for straight-line rent receivables. The duration of the COVID-19 pandemic and our tenants’ ability to resume operations once governmental and legislative restrictions are lifted has caused uncertainty in our ongoing ability to collect rents when due. ​ 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Restricted deposits (1) ​ $ 30,376 ​ $ 12,793 ​ Escrows ​ ​ 428 ​ ​ 1,017 ​ Total ​ $ 30,804 ​ $ 13,810 ​ (1) The increase between the periods presented is primarily attributable to $19.2 million placed in a qualified escrow account for the purpose of completing like-kind exchange transactions. Other Assets, net Other assets include an asset related to the debt service guaranty (see Note 5 for further information), tax increment revenue bonds, right-of-use assets, investments held in a grantor trust, deferred tax assets, the net value of above-market leases, deferred debt costs associated with our revolving credit facilities and other miscellaneous receivables. Right-of-use assets are amortized to achieve the recognition of rent expense on a straight-line basis after adjusting for the corresponding lease liabilities’ interest over the lives of the leases. Investments held in a grantor trust are adjusted to fair value at each period with changes included in our Condensed Consolidated Statements of Operations. Above-market leases are amortized as adjustments to rental revenues over terms of the acquired leases. Deferred debt costs, including those classified in debt, are amortized primarily on a straight-line basis, which approximates the effective interest rate method, over the terms of the debt. Other miscellaneous receivables are evaluated for credit risk and an allowance is established if there is an estimate for lifetime credit losses. These are based on available information, including historical loss information adjusted for current conditions and forecasts for future economic conditions. Prior to adoption of ASC No. 326, a reserve was applied to the carrying amount of other miscellaneous receivables when it became apparent that conditions existed that would lead to our inability to fully collect the outstanding amounts due. Such conditions included delinquent or late payments on receivables, deterioration in the ongoing relationship with the borrower and other relevant factors. Our tax increment revenue bonds have been classified as held to maturity and are recorded at amortized cost offset by a recognized credit loss (see Note 14 for further information). Due to the recognized credit loss, interest on these bonds is recorded at an effective interest rate when cash payments are received. The bonds are evaluated for credit losses based on discounted estimated future cash flows. Any future receipts in excess of the amortized basis will be recognized as revenue when received. The credit risk associated with the amortized value of these bonds is low as the bonds are earmarked for repayments from sales and property taxes associated with a government entity. At March 31, 2020, no credit allowance has been recorded. 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, 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined ​ ​ ​ ​ ​ ​ ​ ​ Benefit ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension ​ ​ ​ ​ ​ ​ Gain on ​ Plan- ​ ​ ​ ​ ​ ​ Cash Flow ​ Actuarial ​ ​ ​ ​ ​ Hedges ​ Loss ​ Total Balance, December 31, 2018 ​ ​ $ (4,501) ​ $ 15,050 ​ $ 10,549 Amounts reclassified from accumulated other comprehensive loss ​ ​ ​ 219 (1) ​ (288) (2) ​ (69) Net other comprehensive loss (income) ​ ​ ​ 219 ​ ​ (288) ​ ​ (69) Balance, March 31, 2019 ​ ​ $ (4,282) ​ $ 14,762 ​ $ 10,480 (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 March 31, 2020 and December 31, 2019, the net gain balance in accumulated other comprehensive loss relating to previously terminated cash flow interest rate swap contracts was $3.4 million and $3.6 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 Pronouncements	3 Months Ended
	Mar. 31, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Newly Issued Accounting Pronouncements	Note 2. Newly Issued Accounting Pronouncements Adopted In June 2016, the FASB issued Accounting Standard Update ("ASU") No. 2016-13, "Measurement of Credit Losses on Financial Instruments." This ASU was further updated by ASU No. 2018-19, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses," ASU No. 2019-04, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses," ASU No. 2019-05, "Targeted Transition Relief," ASU No. 2019-11, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses" and ASU No. 2020-02, “Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119.” These ASUs amend prior guidance on the impairment of financial instruments, and adds an impairment model that is based on expected losses rather than incurred losses with the recognition of an allowance based on an estimate of expected credit losses. The provisions of ASU No. 2016-13, as amended in subsequently issued amendments, were effective for us as of January 1, 2020. In identifying all of our financial instruments covered under this guidance, the majority of our instruments result from operating leasing transactions, which are not within the scope of the new standard and are to remain governed by the recently issued leasing guidance and other previously issued guidance. Upon adoption at January 1, 2020, we recognized, using the modified retrospective approach, a cumulative effect for credit losses, which has decreased retained earnings and other assets by $.7 million, respectively. In addition, we evaluated controls around the implementation of this ASU and have concluded there will be no significant impact on our control structure. In August 2018, the FASB issued ASU No. 2018-13, "Changes to the Disclosure Requirements for Fair Value Measurement." This ASU amends and removes several disclosure requirements including the valuation processes for Level 3 fair value measurements. The ASU also modifies some disclosure requirements and requires additional disclosures for changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements and requires the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The provisions of ASU No. 2018-13 were effective for us as of January 1, 2020 using a prospective transition method for amendments effecting changes in unrealized gains and losses, significant unobservable inputs used to develop Level 3 fair value measurements and narrative description on uncertainty of measurements. The remaining provisions of the ASU were not applicable to us. The adoption of this ASU did not have a material impact to our consolidated financial statements. Not Yet Adopted In August 2018, the FASB issued ASU No. 2018-14, "Changes to the Disclosure Requirements for Defined Benefit Plans." This ASU clarifies current disclosures and removes several disclosures requirements including accumulated other comprehensive income expected to be recognized over the next fiscal year and amount and timing of plan assets expected to be returned to the employer. The ASU also requires additional disclosures for the weighted-average interest crediting rates for cash balance plans and explanations for significant gains and losses related to changes in the benefit plan obligation. The provisions of ASU No. 2018-14 are effective for us as of December 31, 2020 using a retrospective basis for all periods presented, and early adoption is permitted. 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. ​ In December 2019, the FASB issued ASU No. 2019-12, "Simplifying the Accounting for Income Taxes." This ASU clarifies/simplifies current disclosures and removes several disclosures requirements. Simplification includes franchise taxes based partially on income as an income-based tax; entities should reflect enacted tax law and rate changes in the interim period that includes the enactment date; and allowing entities to allocate consolidated tax amounts to individual legal entities under certain elections. The provisions of ASU No. 2019-12 are effective for us as of January 1, 2021, and early adoption is permitted. 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 ​ In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848).” 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.

Property

Property	3 Months Ended
	Mar. 31, 2020
Real Estate [Abstract]
Property	Note 3. Property Our property consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ Land ​ $ 944,272 ​ $ 911,521 ​ ​ Land held for development ​ 40,986 ​ 40,667 ​ ​ Land under development ​ 29,495 ​ 53,076 ​ ​ Buildings and improvements ​ 2,999,500 ​ 2,898,867 ​ ​ Construction in-progress ​ 191,725 ​ 241,118 ​ ​ Total ​ $ 4,205,978 ​ $ 4,145,249 ​ ​ ​ During the three months ended March 31, 2020, we sold one center and other property. Aggregate gross sales proceeds from this transaction approximated $19.6 million and generated gains of approximately $13.6 million. Also, during the three months ended March 31, 2020, we acquired one grocery-anchored shopping center and other property with an aggregate gross purchase price of approximately $43.0 million, and we invested $26.0 million in new development projects.

Investment In Real Estate Joint

Investment In Real Estate Joint Ventures And Partnerships	3 Months Ended
	Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investment In Real Estate Joint Ventures And Partnerships	Note 4. Investment in Real Estate Joint Ventures and Partnerships We own interests in real estate joint ventures or limited partnerships and have tenancy-in-common interests 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 2020 and 2019. Combined condensed financial information of these ventures (at 100%) is summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ Combined Condensed Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ASSETS ​ ​ ​ ​ ​ Property ​ $ 1,220,903 ​ $ 1,378,328 ​ Accumulated depreciation ​ ​ (279,956) ​ ​ (331,856) ​ Property, net ​ ​ 940,947 ​ ​ 1,046,472 ​ Other assets, net ​ ​ 98,576 ​ ​ 108,366 ​ Total Assets ​ $ 1,039,523 ​ $ 1,154,838 ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND EQUITY ​ ​ ​ Debt, net (primarily mortgages payable) ​ $ 264,098 ​ $ 264,782 ​ Amounts payable to Weingarten Realty Investors and Affiliates ​ ​ 10,495 ​ ​ 11,972 ​ Other liabilities, net ​ ​ 21,980 ​ ​ 25,498 ​ Total Liabilities ​ ​ 296,573 ​ ​ 302,252 ​ Equity ​ ​ 742,950 ​ ​ 852,586 ​ Total Liabilities and Equity ​ $ 1,039,523 ​ $ 1,154,838 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Combined Condensed Statements of Operations ​ ​ ​ ​ Revenues, net ​ $ 33,739 ​ $ 32,515 Expenses: ​ ​ ​ ​ Depreciation and amortization ​ ​ 8,762 ​ ​ 7,849 Interest, net ​ ​ 2,418 ​ ​ 2,459 Operating ​ ​ 7,111 ​ ​ 6,100 Real estate taxes, net ​ ​ 4,400 ​ ​ 4,535 General and administrative ​ ​ 105 ​ ​ 69 Provision for income taxes ​ ​ 36 ​ ​ 33 Total ​ ​ 22,832 ​ ​ 21,045 Gain on dispositions ​ ​ 44,699 ​ ​ 535 Net income ​ $ 55,606 ​ $ 12,005 ​ 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 $10.8 million and $9.0 million at March 31, 2020 and December 31, 2019, respectively, are generally amortized over the useful lives of the related assets. We recorded joint venture fee income of $1.6 million and $1.5 million included in Other revenue for the three months ended March 31, 2020 and 2019, respectively. During 2020, we sold one center and our interest in two centers, ranging from 20% to 50%, at an aggregate gross value of approximately $144 million, of which our share of the gain, included in real estate joint ventures and partnerships, totaled $22.4 million. Also during the three months ended March 31, 2020, we invested an additional $3.2 million in a 90% owned unconsolidated real estate joint venture for a mixed-use new development. During 2019, a parcel of land was sold with gross sales proceeds of approximately $2.3 million, of which our share of the gain, included in equity earnings in real estate joint ventures and partnerships, totaled $1.1 million. In July 2019, a 51% owned unconsolidated real estate joint venture acquired a center with a gross purchase price of $52.6 million. Also during 2019, we invested an additional $47.6 million in a 90% owned unconsolidated real estate joint venture for a mixed-use new development.

Debt

Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt	Note 5. Debt Our debt consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Debt payable, net to 2038 (1) ​ $ 1,653,036 ​ $ 1,653,154 Unsecured notes payable under credit facilities ​ ​ 497,000 ​ ​ — Debt service guaranty liability ​ ​ 57,380 ​ ​ 57,380 Finance lease obligation ​ ​ 21,777 ​ ​ 21,804 Total ​ $ 2,229,193 ​ $ 1,732,338 (1) At both March 31, 2020 and December 31, 2019, interest rates ranged from 3.3% to 7.0% at a weighted average rate of 3.9% . ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ As to interest rate (including the effects of interest rate contracts): ​ ​ ​ ​ ​ Fixed-rate debt ​ $ 1,732,193 ​ $ 1,714,890 ​ Variable-rate debt ​ 497,000 ​ 17,448 ​ Total ​ $ 2,229,193 ​ $ 1,732,338 ​ As to collateralization: ​ ​ ​ ​ Unsecured debt ​ $ 1,948,229 ​ $ 1,450,762 ​ Secured debt ​ 280,964 ​ 281,576 ​ Total ​ $ 2,229,193 ​ $ 1,732,338 ​ ​ 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 March 31, 2020 and December 31, 2019, 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. As of March 31, 2020, we drew down the available balance of this credit facility to increase liquidity and preserve financial flexibility in light of the current uncertainty surrounding the impact of the COVID-19 pandemic. Additionally, we have a $10 million unsecured short-term facility, which was amended and extended on January 3, 2020, that we maintain for cash management purposes, which matures in March 2021. At both March 31, 2020 and December 31, 2019, 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ Unsecured revolving credit facility: ​ ​ ​ ​ ​ Balance outstanding ​ $ 497,000 ​ $ — ​ ​ Available balance ​ 946 ​ 497,946 ​ ​ Letters of credit outstanding under facility ​ 2,054 ​ 2,054 ​ ​ Variable interest rate (excluding facility fee) ​ 0.97 % — % ​ Unsecured short-term facility: ​ ​ ​ ​ Balance outstanding ​ $ — ​ $ — ​ ​ Variable interest rate (excluding facility fee) ​ — % — % ​ Both facilities: ​ ​ ​ ​ Maximum balance outstanding during the period ​ $ 497,000 ​ $ 5,000 ​ ​ Weighted average balance ​ 50,308 ​ 123 ​ ​ Year-to-date weighted average interest rate (excluding facility fee) ​ 1.46 % 3.3 % ​ ​ 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 March 31, 2020 and December 31, 2019, we had $57.4 million outstanding for the debt service guaranty liability. During the year ended December 31, 2019, we repaid a $50 million secured fixed-rate mortgage with a 7.0% interest rate from cash from our disposition proceeds. Various leases and properties, and current and future rentals from those leases and properties, collateralize certain debt. At both March 31, 2020 and December 31, 2019, the carrying value of such assets aggregated $.5 billion. Additionally, at both March 31, 2020 and December 31, 2019, investments of $5.3 million included in Restricted Deposits and Escrows are held as collateral for letters of credit totaling $5.0 million. Scheduled principal payments on our debt (excluding $497 million outstanding under our revolving credit facility, $21.8 million of a finance lease obligation, $(3.7) million net premium/(discount) on debt, $(5.4) million of deferred debt costs, $1.9 million of non-cash debt-related items, and $57.4 million debt service guaranty liability) are due during the following years (in thousands): ​ ​ ​ ​ ​ 2020 remaining $ 4,227 2021 ​ ​ 18,795 2022 ​ 308,298 2023 ​ 348,207 2024 ​ 252,561 2025 ​ 294,232 2026 ​ 277,733 2027 ​ 53,604 2028 ​ 92,159 2029 ​ 917 Thereafter ​ 9,518 Total ​ $ 1,660,251 ​ 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 March 31, 2020; however, our continued compliance with these covenants depends on many factors and could be impacted by current or future economic conditions associated with the COVID-19 pandemic.

Common Shares of Beneficial Int

Common Shares of Beneficial Interest	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Common Shares of Beneficial Interest	Note 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. 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 three months ended March 31, 2020, .8 million common shares were repurchased at an average price of $21.47 per share, and no common shares were purchased during the year ended December 31, 2019. At March 31, 2020

Leasing Operations (Notes)

Leasing Operations (Notes)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leasing Operations	Note 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. Variable lease payments recognized in Rentals, net are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ 2020 2019 ​ Variable lease payments ​ $ 26,877 ​ $ 27,930 ​ ​

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Note 8. Supplemental Cash Flow Information Cash, cash equivalents and restricted cash equivalents consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ March 31, ​ ​ ​ 2020 ​ 2019 ​ Cash and cash equivalents $ 484,697 $ 60,570 ​ Restricted deposits and escrows (see Note 1) ​ 30,804 ​ 11,134 ​ Total ​ $ 515,501 ​ $ 71,704 ​ ​ Supplemental disclosure of non-cash transactions is summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ ​ 2020 ​ 2019 ​ Accrued property construction costs $ 11,867 $ 11,570 ​ Right-of-use assets exchanged for operating lease liabilities ​ — ​ 42,913 ​ Increase in debt, net associated with the acquisition of real estate and land ​ 17,952 ​ — ​ ​

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Note 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 ​ ​ March 31, ​ 2020 ​ 2019 Numerator: ​ ​ ​ Net income ​ $ 54,248 ​ $ 51,254 Net income attributable to noncontrolling interests ​ (1,626) ​ (1,588) Net income attributable to common shareholders – basic ​ 52,622 ​ 49,666 Income attributable to operating partnership units ​ 528 ​ — Net income attributable to common shareholders – diluted ​ $ 53,150 ​ $ 49,666 Denominator: ​ ​ ​ ​ Weighted average shares outstanding – basic ​ 127,862 ​ 127,756 Effect of dilutive securities: ​ ​ ​ ​ Share options and awards ​ 943 ​ 834 Operating partnership units ​ 1,432 ​ — Weighted average shares outstanding – diluted ​ 130,237 ​ 128,590 ​ 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 ​ ​ ​ March 31, ​ ​ 2020 ​ 2019 ​ Operating partnership units ​ — 1,432 ​ ​

Share Options and Awards

Share Options and Awards	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Share Options and Awards	Note 10. Share Options and Awards During 2020, 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. 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, 2020 ​ ​ ​ Minimum ​ Maximum ​ Dividend yield 0.0 % 5.2 % Expected volatility (1) 19.0 % 20.0 % Expected life (in years) N/A 3 ​ Risk-free interest rate 0.0 % 1.6 % (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 three months ended March 31, 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Unvested ​ Grant ​ ​ Share ​ Date Fair ​ ​ Awards ​ Value Outstanding, January 1, 2020 801,346 ​ $ 29.56 Granted: ​ Service-based awards 144,640 ​ 30.19 Market-based awards relative to FTSE NAREIT U.S. Shopping Center Index 66,953 ​ 31.18 Market-based awards relative to three-year absolute TSR 66,952 ​ 21.29 Vested (218,516) ​ 34.08 Forfeited (229) ​ 29.07 Outstanding, March 31, 2020 861,146 ​ $ 28.00 ​ As of March 31, 2020 and December 31, 2019, there was approximately $3.1 million and $2.1 million, respectively, of total unrecognized compensation cost related to unvested share awards, which is expected to be amortized over a weighted average of 2.2 years and 1.8 years at March 31, 2020 and December 31, 2019, respectively.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2020
Retirement Benefits [Abstract]
Employee Benefit Plans	Note 11. Employee Benefit Plans Defined Benefit Plan We sponsor a noncontributory qualified retirement plan. The components of net periodic benefit cost for this plan are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ 2020 ​ 2019 ​ Service cost ​ $ 273 $ 325 ​ Interest cost ​ ​ 280 ​ ​ 475 ​ Expected return on plan assets ​ ​ (592) ​ ​ (861) ​ Amortization of net loss ​ ​ 297 ​ ​ 288 ​ Total ​ $ 258 ​ $ 227 ​ ​ The components of net periodic benefit cost other than the service cost component are included in Interest and Other (Expense) Income, net in the Condensed Consolidated Statements of Operations. The expected contribution to be paid to the qualified retirement plan during 2020 is approximately $1.0 million. During 2019, we contributed $1.0 million to the qualified retirement plan. Defined Contribution Plans Compensation expense related to our defined contribution plans was $1.1 million and $1.0 million for the three months ended March 31, 2020 and 2019, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12. Commitments and Contingencies Commitments and Contingencies As of March 31, 2020 and December 31, 2019, 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 allows 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 $21 million and $45 million as of March 31, 2020 and December 31, 2019, respectively. As of March 31, 2020, we have entered into commitments aggregating $85.8 million comprised principally of construction contracts which are generally due in 12 to 36 months. 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 Entities	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Note 13. Variable Interest Entities Consolidated VIEs: At both March 31, 2020 and December 31, 2019, eight of our real estate joint ventures, whose activities primarily consisted of owning and operating 21 neighborhood/community shopping centers, 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Assets Held by VIEs $ 225,811 $ 228,954 ​ Assets Held as Collateral for Debt (1) ​ ​ 37,731 ​ ​ 39,782 ​ Maximum Risk of Loss (1) ​ ​ 29,784 ​ ​ 29,784 ​ (1) 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. For the three months ended March 31, 2020, $2.7 million in additional contributions were made to pay off an outstanding debt. Unconsolidated VIEs: At both March 31, 2020 and December 31, 2019, 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. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Investment in Real Estate Joint Ventures and Partnerships, net (1) $ 131,463 $ 128,361 ​ Other Liabilities, net (2) ​ ​ 7,164 ​ ​ 7,735 ​ 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. The increase between periods represents new development funding of a mixed-use project. (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. With respect to our future development of a mixed-used project, we anticipate future funding of approximately $5.9 million through 2020.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 14. Fair Value Measurements Currently, 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 March 31, 2020 and December 31, 2019, 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 ​ March 31, ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ 2020 Assets: ​ ​ ​ ​ Cash equivalents, primarily money market funds (1) ​ $ 473,502 ​ ​ ​ $ 473,502 Restricted cash, primarily money market funds (1) ​ 9,096 ​ ​ ​ 9,096 Investments, mutual funds held in a grantor trust (1) ​ 32,358 ​ ​ ​ 32,358 Total ​ $ 514,956 ​ $ — ​ $ — ​ $ 514,956 Liabilities: ​ ​ ​ ​ Deferred compensation plan obligations ​ $ 32,358 ​ ​ ​ $ 32,358 Total ​ $ 32,358 ​ $ — ​ $ — ​ $ 32,358 ________________________________________ (1) For the three months ended March 31, 2020, a net loss of $6.0 million was included in Interest and Other (Expense) Income, net, of which $6.3 million represented an unrealized loss. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) ​ 2019 Assets: ​ ​ ​ ​ Cash equivalents, primarily money market funds (1) ​ $ 28,330 ​ ​ ​ $ 28,330 Restricted cash, primarily money market funds (1) ​ 9,916 ​ ​ ​ 9,916 Investments, mutual funds held in a grantor trust (1) ​ 38,378 ​ ​ ​ 38,378 Total ​ $ 76,624 ​ $ — ​ $ — ​ $ 76,624 Liabilities: ​ ​ ​ ​ Deferred compensation plan obligations ​ $ 38,378 ​ ​ ​ $ 38,378 Total ​ $ 38,378 ​ $ — ​ $ — ​ $ 38,378 ________________________________________ (1) For the year ended December 31, 2019, a net gain of $9.4 million was included in Interest and Other Income, net, of which $6.7 million represented an unrealized gain. Included in these amounts for the three months ended March 31, 2019 was a net gain of $3.5 million, of which $3.0 million was an unrealized gain. Nonrecurring Fair Value Measurements: Investment in Real Estate Joint Ventures and Partnerships Impairments Estimated fair values are determined by management utilizing the performance of each investment, the life and other terms of the investment, holding periods, market conditions, 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 March 31, 2020. Assets measured at fair value on a nonrecurring basis at December 31, 2019 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) Investment in real estate joint ventures and partnerships (2) ​ ​ $ 1,830 ​ $ 24,154 ​ $ 25,984 ​ $ (3,070) Total ​ $ — ​ $ 1,830 ​ $ 24,154 ​ $ 25,984 ​ $ (3,070) (1) Total gains (losses) presented in this table relate to assets that were held by us at December 31, 2019. (2) In accordance with our policy of evaluating and recording impairments on the disposal of investments in real estate joint ventures and partnerships, investments with a carrying amount of $29.1 million were written down to a fair value of $26.0 million, resulting in a loss of $3.1 million, which was included in earnings for the fourth quarter of 2019. Management’s estimate of fair value of these investments were determined using a bona fide purchase offer for the Level 2 inputs, and see the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements in the table below. ​ 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 ​ ​ ​ ​ ​ ​ 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 (1) ​ $ 17,277 ​ ​ $ 21,000 ​ $ 17,277 ​ ​ $ 25,000 ​ Debt: ​ ​ ​ ​ ​ ​ ​ ​ ​ Fixed-rate debt ​ 1,732,193 ​ ​ 1,760,926 ​ 1,714,890 ​ ​ 1,787,663 ​ Variable-rate debt ​ 497,000 ​ ​ 497,000 ​ 17,448 ​ ​ 17,426 ​ (1) At December 31, 2019, prior to the adoption of ASC 326, the amortized cost basis was net of a previously recognized other-than-temporary impairment on our tax increment revenue bonds of $31.0 million . ​ The quantitative information about the significant unobservable inputs used for our nonrecurring Level 3 fair value measurements as of December 31, 2019 reported in the above table, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at ​ ​ ​ ​ December 31, ​ ​ ​ ​ ​ Range ​ ​ 2019 ​ ​ ​ ​ ​ Minimum ​ Maximum Description (in thousands) Valuation Technique Unobservable Inputs 2019 2019 ​ Investment in real estate joint ventures and partnerships ​ $ 24,154 Discounted cash flows Discount rate 7.3 % 7.5 % ​ ​ ​ ​ ​ Capitalization rate ​ 5.8 % 8.0 % ​ ​ ​ ​ ​ Noncontrolling interest discount ​ ​ ​ 15.0 % ​

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 15. Subsequent Events COVID-19, which was characterized on March 11, 2020 by the World Health Organization as a pandemic, has currently resulted in a widespread health crisis, which has adversely affected international, national and local economies and financial markets generally, and has had an unprecedented effect on the commercial real estate industry. Given the daily evolution of the COVID-19 pandemic and the global responses to curb its spread, we are not able to estimate the effects of the COVID-19 pandemic on our results of operations, cash flows, financial condition, or liquidity for fiscal year 2020. As of May 5, 2020, approximately 64% of our tenants have paid their April rent, which includes base minimum rental revenues and escrows for common area maintenance (“CAM”), real estate taxes, and insurance totaling $24.8 million. Additionally, a large number of our tenants have been negotiating rent deferrals to future periods. Through May 5, 2020, we have negotiated deferrals for approximately 700 tenants, which represents nearly $8.5 million that will be deferred over the next several months.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	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, 2019 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, 2019. 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 (see Note 15).
Leases	Leases In April 2020, the Financial Accounting Standards Board ("FASB") published a Staff Q&A regarding Accounting for Lease Concessions Related to the Effects of the COVID-19 pandemic. As the pandemic is expected to result in numerous tenant rent and lease concessions, the intent of the publication was to provide relief to lessors in assessing whether a lease modification exists. The FASB publication provides for an election to account for lease concessions, directly related to the effects of the COVID-19 pandemic, consistent with how those concessions would be accounted for as though enforceable rights and obligations for those concessions existed in the original contract. Accordingly, an entity would not have to analyze each contract to determine whether those rights exist in the contract and can elect to apply or not apply lease modification guidance to those contracts. This election is available for COVID-19 related concessions that do not result in a substantial increase in the rights of the lessor or the obligations of the lessee and the total payments required by the modified lease are substantially the same as or less than total payments required by the original lease. We currently anticipate electing as of April 1, 2020, the effective date, to not apply lease modification guidance to those contracts. As of March 31, 2020, no
Accrued Rent, Accrued Contract Receivables and Accounts Receivable, net	Accrued Rent, Accrued Contract Receivables and Accounts Receivable, net Receivables are relatively short-term in nature with terms due in less than one year. Receivables include rental revenue, amounts billed and currently due from customer contracts and receivables attributable to straight-line rental commitments. Accrued contract receivables includes amounts due from customers for contracts that do not qualify as a lease in which we earned the right to the consideration through the satisfaction of the performance obligation, but before the customer pays consideration or before payment is due. Individual leases are assessed for collectability and upon the determination that the collection of rents is not probable, accrued rent and accounts receivables are reduced as an adjustment to rental revenues. Revenue from leases where collection is deemed to be less than probable is recorded on a cash basis until collectability is determined to be probable. Further, we assess whether operating lease receivables, at a portfolio level, are appropriately valued based upon an analysis of balances outstanding, historical bad debt levels and current economic trends. An allowance for the uncollectible portion of the portfolio is recorded as an adjustment to rental revenues. Additionally, estimates of the expected recovery of pre-petition and post-petition claims with respect to tenants in bankruptcy are considered in assessing the collectability of the related receivables. Management’s estimate of the collectability of accrued rents and accounts receivable is based on the best information available to management at the time of evaluation. At March 31, 2020, the overall impact attributable to the COVID-19 pandemic was a $9.0 million adjustment associated with potentially uncollectible revenues and disputed amounts, which includes $7.0 million for straight-line rent receivables. The duration of the COVID-19 pandemic and our tenants’ ability to resume operations once governmental and legislative restrictions are lifted has caused uncertainty in our ongoing ability to collect rents when due. ​
Restricted Deposits and Escrows	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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Restricted deposits (1) ​ $ 30,376 ​ $ 12,793 ​ Escrows ​ ​ 428 ​ ​ 1,017 ​ Total ​ $ 30,804 ​ $ 13,810 ​ (1) The increase between the periods presented is primarily attributable to $19.2 million placed in a qualified escrow account for the purpose of completing like-kind exchange transactions.
Other Assets, net	Other Assets, net Other assets include an asset related to the debt service guaranty (see Note 5 for further information), tax increment revenue bonds, right-of-use assets, investments held in a grantor trust, deferred tax assets, the net value of above-market leases, deferred debt costs associated with our revolving credit facilities and other miscellaneous receivables. Right-of-use assets are amortized to achieve the recognition of rent expense on a straight-line basis after adjusting for the corresponding lease liabilities’ interest over the lives of the leases. Investments held in a grantor trust are adjusted to fair value at each period with changes included in our Condensed Consolidated Statements of Operations. Above-market leases are amortized as adjustments to rental revenues over terms of the acquired leases. Deferred debt costs, including those classified in debt, are amortized primarily on a straight-line basis, which approximates the effective interest rate method, over the terms of the debt. Other miscellaneous receivables are evaluated for credit risk and an allowance is established if there is an estimate for lifetime credit losses. These are based on available information, including historical loss information adjusted for current conditions and forecasts for future economic conditions. Prior to adoption of ASC No. 326, a reserve was applied to the carrying amount of other miscellaneous receivables when it became apparent that conditions existed that would lead to our inability to fully collect the outstanding amounts due. Such conditions included delinquent or late payments on receivables, deterioration in the ongoing relationship with the borrower and other relevant factors. Our tax increment revenue bonds have been classified as held to maturity and are recorded at amortized cost offset by a recognized credit loss (see Note 14 for further information). Due to the recognized credit loss, interest on these bonds is recorded at an effective interest rate when cash payments are received. The bonds are evaluated for credit losses based on discounted estimated future cash flows. Any future receipts in excess of the amortized basis will be recognized as revenue when received. The credit risk associated with the amortized value of these bonds is low as the bonds are earmarked for repayments from sales and property taxes associated with a government entity. At March 31, 2020, no credit allowance has been recorded.
Accumulated Other Comprehensive Loss	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, 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined ​ ​ ​ ​ ​ ​ ​ ​ Benefit ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension ​ ​ ​ ​ ​ ​ Gain on ​ Plan- ​ ​ ​ ​ ​ ​ Cash Flow ​ Actuarial ​ ​ ​ ​ ​ Hedges ​ Loss ​ Total Balance, December 31, 2018 ​ ​ $ (4,501) ​ $ 15,050 ​ $ 10,549 Amounts reclassified from accumulated other comprehensive loss ​ ​ ​ 219 (1) ​ (288) (2) ​ (69) Net other comprehensive loss (income) ​ ​ ​ 219 ​ ​ (288) ​ ​ (69) Balance, March 31, 2019 ​ ​ $ (4,282) ​ $ 14,762 ​ $ 10,480 (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 March 31, 2020 and December 31, 2019, the net gain balance in accumulated other comprehensive loss relating to previously terminated cash flow interest rate swap contracts was $3.4 million and $3.6 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 Pronouncements	Adopted In June 2016, the FASB issued Accounting Standard Update ("ASU") No. 2016-13, "Measurement of Credit Losses on Financial Instruments." This ASU was further updated by ASU No. 2018-19, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses," ASU No. 2019-04, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses," ASU No. 2019-05, "Targeted Transition Relief," ASU No. 2019-11, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses" and ASU No. 2020-02, “Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119.” These ASUs amend prior guidance on the impairment of financial instruments, and adds an impairment model that is based on expected losses rather than incurred losses with the recognition of an allowance based on an estimate of expected credit losses. The provisions of ASU No. 2016-13, as amended in subsequently issued amendments, were effective for us as of January 1, 2020. In identifying all of our financial instruments covered under this guidance, the majority of our instruments result from operating leasing transactions, which are not within the scope of the new standard and are to remain governed by the recently issued leasing guidance and other previously issued guidance. Upon adoption at January 1, 2020, we recognized, using the modified retrospective approach, a cumulative effect for credit losses, which has decreased retained earnings and other assets by $.7 million, respectively. In addition, we evaluated controls around the implementation of this ASU and have concluded there will be no significant impact on our control structure. In August 2018, the FASB issued ASU No. 2018-13, "Changes to the Disclosure Requirements for Fair Value Measurement." This ASU amends and removes several disclosure requirements including the valuation processes for Level 3 fair value measurements. The ASU also modifies some disclosure requirements and requires additional disclosures for changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements and requires the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The provisions of ASU No. 2018-13 were effective for us as of January 1, 2020 using a prospective transition method for amendments effecting changes in unrealized gains and losses, significant unobservable inputs used to develop Level 3 fair value measurements and narrative description on uncertainty of measurements. The remaining provisions of the ASU were not applicable to us. The adoption of this ASU did not have a material impact to our consolidated financial statements. Not Yet Adopted In August 2018, the FASB issued ASU No. 2018-14, "Changes to the Disclosure Requirements for Defined Benefit Plans." This ASU clarifies current disclosures and removes several disclosures requirements including accumulated other comprehensive income expected to be recognized over the next fiscal year and amount and timing of plan assets expected to be returned to the employer. The ASU also requires additional disclosures for the weighted-average interest crediting rates for cash balance plans and explanations for significant gains and losses related to changes in the benefit plan obligation. The provisions of ASU No. 2018-14 are effective for us as of December 31, 2020 using a retrospective basis for all periods presented, and early adoption is permitted. 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. ​ In December 2019, the FASB issued ASU No. 2019-12, "Simplifying the Accounting for Income Taxes." This ASU clarifies/simplifies current disclosures and removes several disclosures requirements. Simplification includes franchise taxes based partially on income as an income-based tax; entities should reflect enacted tax law and rate changes in the interim period that includes the enactment date; and allowing entities to allocate consolidated tax amounts to individual legal entities under certain elections. The provisions of ASU No. 2019-12 are effective for us as of January 1, 2021, and early adoption is permitted. 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 ​ In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848).” 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.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Schedule Of Restricted Deposits and Escrows	Our restricted deposits and escrows consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Restricted deposits (1) ​ $ 30,376 ​ $ 12,793 ​ Escrows ​ ​ 428 ​ ​ 1,017 ​ Total ​ $ 30,804 ​ $ 13,810 ​ (1) The increase between the periods presented is primarily attributable to $19.2 million placed in a qualified escrow account for the purpose of completing like-kind exchange transactions.
Schedule Of 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, 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined ​ ​ ​ ​ ​ ​ ​ ​ Benefit ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension ​ ​ ​ ​ ​ ​ Gain on ​ Plan- ​ ​ ​ ​ ​ ​ Cash Flow ​ Actuarial ​ ​ ​ ​ ​ Hedges ​ Loss ​ Total Balance, December 31, 2018 ​ ​ $ (4,501) ​ $ 15,050 ​ $ 10,549 Amounts reclassified from accumulated other comprehensive loss ​ ​ ​ 219 (1) ​ (288) (2) ​ (69) Net other comprehensive loss (income) ​ ​ ​ 219 ​ ​ (288) ​ ​ (69) Balance, March 31, 2019 ​ ​ $ (4,282) ​ $ 14,762 ​ $ 10,480 (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)	3 Months Ended
	Mar. 31, 2020
Real Estate [Abstract]
Schedule of Property	Our property consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ Land ​ $ 944,272 ​ $ 911,521 ​ ​ Land held for development ​ 40,986 ​ 40,667 ​ ​ Land under development ​ 29,495 ​ 53,076 ​ ​ Buildings and improvements ​ 2,999,500 ​ 2,898,867 ​ ​ Construction in-progress ​ 191,725 ​ 241,118 ​ ​ Total ​ $ 4,205,978 ​ $ 4,145,249 ​ ​

Investment In Real Estate Joi_2

Investment In Real Estate Joint Ventures And Partnerships (Tables)	3 Months Ended
	Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Schedule Of Combined Condensed Balance Sheets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ Combined Condensed Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ASSETS ​ ​ ​ ​ ​ Property ​ $ 1,220,903 ​ $ 1,378,328 ​ Accumulated depreciation ​ ​ (279,956) ​ ​ (331,856) ​ Property, net ​ ​ 940,947 ​ ​ 1,046,472 ​ Other assets, net ​ ​ 98,576 ​ ​ 108,366 ​ Total Assets ​ $ 1,039,523 ​ $ 1,154,838 ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND EQUITY ​ ​ ​ Debt, net (primarily mortgages payable) ​ $ 264,098 ​ $ 264,782 ​ Amounts payable to Weingarten Realty Investors and Affiliates ​ ​ 10,495 ​ ​ 11,972 ​ Other liabilities, net ​ ​ 21,980 ​ ​ 25,498 ​ Total Liabilities ​ ​ 296,573 ​ ​ 302,252 ​ Equity ​ ​ 742,950 ​ ​ 852,586 ​ Total Liabilities and Equity ​ $ 1,039,523 ​ $ 1,154,838 ​
Schedule Of Combined Condensed Statements Of Operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 2019 Combined Condensed Statements of Operations ​ ​ ​ ​ Revenues, net ​ $ 33,739 ​ $ 32,515 Expenses: ​ ​ ​ ​ Depreciation and amortization ​ ​ 8,762 ​ ​ 7,849 Interest, net ​ ​ 2,418 ​ ​ 2,459 Operating ​ ​ 7,111 ​ ​ 6,100 Real estate taxes, net ​ ​ 4,400 ​ ​ 4,535 General and administrative ​ ​ 105 ​ ​ 69 Provision for income taxes ​ ​ 36 ​ ​ 33 Total ​ ​ 22,832 ​ ​ 21,045 Gain on dispositions ​ ​ 44,699 ​ ​ 535 Net income ​ $ 55,606 ​ $ 12,005

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule Of Debt	Our debt consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Debt payable, net to 2038 (1) ​ $ 1,653,036 ​ $ 1,653,154 Unsecured notes payable under credit facilities ​ ​ 497,000 ​ ​ — Debt service guaranty liability ​ ​ 57,380 ​ ​ 57,380 Finance lease obligation ​ ​ 21,777 ​ ​ 21,804 Total ​ $ 2,229,193 ​ $ 1,732,338 (1) At both March 31, 2020 and December 31, 2019, 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 Unsecured	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ As to interest rate (including the effects of interest rate contracts): ​ ​ ​ ​ ​ Fixed-rate debt ​ $ 1,732,193 ​ $ 1,714,890 ​ Variable-rate debt ​ 497,000 ​ 17,448 ​ Total ​ $ 2,229,193 ​ $ 1,732,338 ​ As to collateralization: ​ ​ ​ ​ Unsecured debt ​ $ 1,948,229 ​ $ 1,450,762 ​ Secured debt ​ 280,964 ​ 281,576 ​ Total ​ $ 2,229,193 ​ $ 1,732,338 ​
Schedule Of Credit Facilities	The following table discloses certain information regarding our unsecured notes payable under our credit facilities (in thousands, except percentages): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 ​ Unsecured revolving credit facility: ​ ​ ​ ​ ​ Balance outstanding ​ $ 497,000 ​ $ — ​ ​ Available balance ​ 946 ​ 497,946 ​ ​ Letters of credit outstanding under facility ​ 2,054 ​ 2,054 ​ ​ Variable interest rate (excluding facility fee) ​ 0.97 % — % ​ Unsecured short-term facility: ​ ​ ​ ​ Balance outstanding ​ $ — ​ $ — ​ ​ Variable interest rate (excluding facility fee) ​ — % — % ​ Both facilities: ​ ​ ​ ​ Maximum balance outstanding during the period ​ $ 497,000 ​ $ 5,000 ​ ​ Weighted average balance ​ 50,308 ​ 123 ​ ​ Year-to-date weighted average interest rate (excluding facility fee) ​ 1.46 % 3.3 % ​
Principal Payments Of Debt	Scheduled principal payments on our debt (excluding $497 million outstanding under our revolving credit facility, $21.8 million of a finance lease obligation, $(3.7) million net premium/(discount) on debt, $(5.4) million of deferred debt costs, $1.9 million of non-cash debt-related items, and $57.4 million debt service guaranty liability) are due during the following years (in thousands): ​ ​ ​ ​ ​ 2020 remaining $ 4,227 2021 ​ ​ 18,795 2022 ​ 308,298 2023 ​ 348,207 2024 ​ 252,561 2025 ​ 294,232 2026 ​ 277,733 2027 ​ 53,604 2028 ​ 92,159 2029 ​ 917 Thereafter ​ 9,518 Total ​ $ 1,660,251

Leasing Operations (Tables)

Leasing Operations (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Schedule of Variable Lease, Payment	Variable lease payments recognized in Rentals, net are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ 2020 2019 ​ Variable lease payments ​ $ 26,877 ​ $ 27,930 ​

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash and Cash Equivalents	Cash, cash equivalents and restricted cash equivalents consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ March 31, ​ ​ ​ 2020 ​ 2019 ​ Cash and cash equivalents $ 484,697 $ 60,570 ​ Restricted deposits and escrows (see Note 1) ​ 30,804 ​ 11,134 ​ Total ​ $ 515,501 ​ $ 71,704 ​
Supplemental disclosure of non-cash transactions	Supplemental disclosure of non-cash transactions is summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ ​ 2020 ​ 2019 ​ Accrued property construction costs $ 11,867 $ 11,570 ​ Right-of-use assets exchanged for operating lease liabilities ​ — ​ 42,913 ​ Increase in debt, net associated with the acquisition of real estate and land ​ 17,952 ​ — ​

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Components of Earnings Per Common Share - Basic and Diluted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ 2020 ​ 2019 Numerator: ​ ​ ​ Net income ​ $ 54,248 ​ $ 51,254 Net income attributable to noncontrolling interests ​ (1,626) ​ (1,588) Net income attributable to common shareholders – basic ​ 52,622 ​ 49,666 Income attributable to operating partnership units ​ 528 ​ — Net income attributable to common shareholders – diluted ​ $ 53,150 ​ $ 49,666 Denominator: ​ ​ ​ ​ Weighted average shares outstanding – basic ​ 127,862 ​ 127,756 Effect of dilutive securities: ​ ​ ​ ​ Share options and awards ​ 943 ​ 834 Operating partnership units ​ 1,432 ​ — Weighted average shares outstanding – diluted ​ 130,237 ​ 128,590
Schedule Of Anti-Dilutive Securities Of Common Shares	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 ​ ​ ​ March 31, ​ ​ 2020 ​ 2019 ​ Operating partnership units ​ — 1,432 ​

Share Options and Awards (Table

Share Options and Awards (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Fair Value Of Market-Based Share Awards Assumptions	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: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, 2020 ​ ​ ​ Minimum ​ Maximum ​ Dividend yield 0.0 % 5.2 % Expected volatility (1) 19.0 % 20.0 % Expected life (in years) N/A 3 ​ Risk-free interest rate 0.0 % 1.6 % (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	A summary of the status of unvested share awards for the three months ended March 31, 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Unvested ​ Grant ​ ​ Share ​ Date Fair ​ ​ Awards ​ Value Outstanding, January 1, 2020 801,346 ​ $ 29.56 Granted: ​ Service-based awards 144,640 ​ 30.19 Market-based awards relative to FTSE NAREIT U.S. Shopping Center Index 66,953 ​ 31.18 Market-based awards relative to three-year absolute TSR 66,952 ​ 21.29 Vested (218,516) ​ 34.08 Forfeited (229) ​ 29.07 Outstanding, March 31, 2020 861,146 ​ $ 28.00

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2020
Retirement Benefits [Abstract]
Schedule Of Net Periodic Benefit Cost	The components of net periodic benefit cost for this plan are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, ​ ​ 2020 ​ 2019 ​ Service cost ​ $ 273 $ 325 ​ Interest cost ​ ​ 280 ​ ​ 475 ​ Expected return on plan assets ​ ​ (592) ​ ​ (861) ​ Amortization of net loss ​ ​ 297 ​ ​ 288 ​ Total ​ $ 258 ​ $ 227 ​

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2020
Consolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Summary Of Variable Interest Entities	A summary of our consolidated VIEs is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Assets Held by VIEs $ 225,811 $ 228,954 ​ Assets Held as Collateral for Debt (1) ​ ​ 37,731 ​ ​ 39,782 ​ Maximum Risk of Loss (1) ​ ​ 29,784 ​ ​ 29,784 ​ (1) 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 Entities	A summary of our unconsolidated VIEs is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 ​ Investment in Real Estate Joint Ventures and Partnerships, net (1) $ 131,463 $ 128,361 ​ Other Liabilities, net (2) ​ ​ 7,164 ​ ​ 7,735 ​ 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. The increase between periods represents new development funding of a mixed-use project. (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)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Assets And Liabilities Measured On Recurring Basis	Assets and liabilities measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019, 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 ​ March 31, ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ 2020 Assets: ​ ​ ​ ​ Cash equivalents, primarily money market funds (1) ​ $ 473,502 ​ ​ ​ $ 473,502 Restricted cash, primarily money market funds (1) ​ 9,096 ​ ​ ​ 9,096 Investments, mutual funds held in a grantor trust (1) ​ 32,358 ​ ​ ​ 32,358 Total ​ $ 514,956 ​ $ — ​ $ — ​ $ 514,956 Liabilities: ​ ​ ​ ​ Deferred compensation plan obligations ​ $ 32,358 ​ ​ ​ $ 32,358 Total ​ $ 32,358 ​ $ — ​ $ — ​ $ 32,358 ________________________________________ (1) For the three months ended March 31, 2020, a net loss of $6.0 million was included in Interest and Other (Expense) Income, net, of which $6.3 million represented an unrealized loss. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) ​ 2019 Assets: ​ ​ ​ ​ Cash equivalents, primarily money market funds (1) ​ $ 28,330 ​ ​ ​ $ 28,330 Restricted cash, primarily money market funds (1) ​ 9,916 ​ ​ ​ 9,916 Investments, mutual funds held in a grantor trust (1) ​ 38,378 ​ ​ ​ 38,378 Total ​ $ 76,624 ​ $ — ​ $ — ​ $ 76,624 Liabilities: ​ ​ ​ ​ Deferred compensation plan obligations ​ $ 38,378 ​ ​ ​ $ 38,378 Total ​ $ 38,378 ​ $ — ​ $ — ​ $ 38,378 ________________________________________ (1) For the year ended December 31, 2019, a net gain of $9.4 million was included in Interest and Other Income, net, of which $6.7 million represented an unrealized gain. Included in these amounts for the three months ended March 31, 2019 was a net gain of $3.5 million, of which $3.0 million was an unrealized gain.
Assets Measured on Nonrecurring Basis	Assets measured at fair value on a nonrecurring basis at December 31, 2019 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) Investment in real estate joint ventures and partnerships (2) ​ ​ $ 1,830 ​ $ 24,154 ​ $ 25,984 ​ $ (3,070) Total ​ $ — ​ $ 1,830 ​ $ 24,154 ​ $ 25,984 ​ $ (3,070) (1) Total gains (losses) presented in this table relate to assets that were held by us at December 31, 2019. (2) In accordance with our policy of evaluating and recording impairments on the disposal of investments in real estate joint ventures and partnerships, investments with a carrying amount of $29.1 million were written down to a fair value of $26.0 million, resulting in a loss of $3.1 million, which was included in earnings for the fourth quarter of 2019. Management’s estimate of fair value of these investments were determined using a bona fide purchase offer for the Level 2 inputs, and see the quantitative information about the significant unobservable inputs used for our Level 3 fair value measurements in the table below.
Schedule Of Fair Value Disclosures	Schedule of our fair value disclosures is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 ​ ​ ​ ​ ​ ​ 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 (1) ​ $ 17,277 ​ ​ $ 21,000 ​ $ 17,277 ​ ​ $ 25,000 ​ Debt: ​ ​ ​ ​ ​ ​ ​ ​ ​ Fixed-rate debt ​ 1,732,193 ​ ​ 1,760,926 ​ 1,714,890 ​ ​ 1,787,663 ​ Variable-rate debt ​ 497,000 ​ ​ 497,000 ​ 17,448 ​ ​ 17,426 ​ (1) At December 31, 2019, prior to the adoption of ASC 326, the amortized cost basis was net of a previously recognized other-than-temporary impairment on our tax increment revenue bonds of $31.0 million .
Schedule of the significant unobservable inputs used for our nonrecurring Level 3 fair value measurements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at ​ ​ ​ ​ December 31, ​ ​ ​ ​ ​ Range ​ ​ 2019 ​ ​ ​ ​ ​ Minimum ​ Maximum Description (in thousands) Valuation Technique Unobservable Inputs 2019 2019 ​ Investment in real estate joint ventures and partnerships ​ $ 24,154 Discounted cash flows Discount rate 7.3 % 7.5 % ​ ​ ​ ​ ​ Capitalization rate ​ 5.8 % 8.0 % ​ ​ ​ ​ ​ Noncontrolling interest discount ​ ​ ​ 15.0 %

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details) $ in Thousands, ft² in Millions	3 Months Ended
	Mar. 31, 2020USD ($)ft²	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Significant Accounting Policies [Line Items]
Square footage of operating properties (in square feet) | ft²	31.5
Accumulated other comprehensive loss	$ 1,866,245	$ 1,876,160	$ 1,760,434	$ 1,750,699
Lease concessions or rent forgiveness	0
Allowance for credit loss	$ 0
Revenue Benchmark [Member] | Tenant Base [Member]
Significant Accounting Policies [Line Items]
Concentrations of risk (percentage)	2.60%
Revenue Benchmark [Member] | Houston, Texas Geographic Concentration [Member]
Significant Accounting Policies [Line Items]
Concentrations of risk (percentage)	19.60%
Revenue Benchmark [Member] | Other Parts of Texas Geographic Concentration [Member]
Significant Accounting Policies [Line Items]
Concentrations of risk (percentage)	9.40%
COVID-19 [Member]
Significant Accounting Policies [Line Items]
Adjustment to revenue related to potentially uncollectible revenues and disputed amounts	$ 9,000
Straight Line Rent Receivables [Member]
Significant Accounting Policies [Line Items]
Adjustment to revenue related to potentially uncollectible revenues and disputed amounts	$ 7,000
FLORIDA | Revenue Benchmark [Member] | Geographic Concentration Risk [Member]
Significant Accounting Policies [Line Items]
Concentrations of risk (percentage)	21.30%
CALIFORNIA | Revenue Benchmark [Member] | Geographic Concentration Risk [Member]
Significant Accounting Policies [Line Items]
Concentrations of risk (percentage)	17.20%
Gain on Cash Flow Hedges [Member]
Significant Accounting Policies [Line Items]
Accumulated other comprehensive loss	$ 3,393	$ 3,614	$ 4,282	$ 4,501
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)

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Schedule Of Restricted Deposits and Escrows) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Accounting Policies [Abstract]
Restricted deposits	$ 30,376	$ 12,793
Escrows	428	1,017
Total	30,804	$ 13,810	$ 11,134
Qualified escrow for like-kind exchange, payments (proceeds)	$ (19,200)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Schedule Of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ (1,876,160)	$ (1,750,699)
Net other comprehensive loss (income)	(76)	(69)
Ending Balance	(1,866,245)	(1,760,434)
Gain on Cash Flow Hedges [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(3,614)	(4,501)
Amounts reclassified from accumulated other comprehensive loss	221	219
Net other comprehensive loss (income)	221	219
Ending Balance	(3,393)	(4,282)
Defined Benefit Pension Plan [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	14,897	15,050
Amounts reclassified from accumulated other comprehensive loss	(297)	(288)
Net other comprehensive loss (income)	(297)	(288)
Ending Balance	14,600	14,762
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	11,283	10,549
Amounts reclassified from accumulated other comprehensive loss	(76)	(69)
Net other comprehensive loss (income)	(76)	(69)
Ending Balance	$ 11,207	$ 10,480

New Issued Accounting Pronounce

New Issued Accounting Pronouncements (Details) $ in Millions	Jan. 01, 2020USD ($)
Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained Earnings (Accumulated Deficit)	$ 0.7

Property (Narrative) (Details)

Property (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)property	Mar. 31, 2019USD ($)
Real Estate [Abstract]
Number of centers sold | property	1
Proceeds from sale and disposition of property	$ 19,600
Gain on sale of property	$ 13,576	$ 17,787
Number of real estate properties | property	1
Acquisition of real estate property	$ 43,000
Investment in new development	$ 26,000

Property (Schedule Of Property)

Property (Schedule Of Property) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Real Estate [Abstract]
Land	$ 944,272	$ 911,521
Land held for development	40,986	40,667
Land under development	29,495	53,076
Buildings and improvements	2,999,500	2,898,867
Construction in-progress	191,725	241,118
Total	$ 4,205,978	$ 4,145,249

Investment In Real Estate Joi_3

Investment In Real Estate Joint Ventures And Partnerships (Narrative) (Details) $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Jul. 31, 2019USD ($)	Mar. 31, 2020USD ($)propertyCenter	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Schedule of Equity Method Investments [Line Items]
Net basis differentials for equity method investments		$ 10,800		$ 9,000
Number of centers sold | property		1
Proceeds from sale and disposition of property		$ 19,600
Gain on sale of property		$ 13,576	$ 17,787
Number of real estate properties | property		1
Real estate joint ventures and partnerships - Investments		$ 3,176	9,094
Gross purchase price to acquire center		$ 43,000
Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures		20.00%		20.00%
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures		90.00%		90.00%
Unconsolidated Real Estate Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Joint venture fee income		$ 1,600	$ 1,500
Proceeds from sale and disposition of property				$ 2,300
Gain on sale of property				1,100
Gross purchase price to acquire center	$ 52,600
Ownership percentage in joint ventures	51.00%
Investment, Mixed-Use New Development [Member]
Schedule of Equity Method Investments [Line Items]
Real estate joint ventures and partnerships - Investments		$ 3,200		$ 47,600
Ownership percentage in joint ventures		90.00%		90.00%
Disposal Group, One Center [Member]
Schedule of Equity Method Investments [Line Items]
Number of centers sold | Center		1
Disposal Group, Two Centers [Member]
Schedule of Equity Method Investments [Line Items]
Number of centers sold | Center		2
Gain on sale of property		$ 22,400
Proceeds From divestitures		$ 144,000
Disposal Group, Two Centers [Member] | Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures		20.00%
Disposal Group, Two Centers [Member] | Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint ventures		50.00%

Investment In Real Estate Joi_4

Investment In Real Estate Joint Ventures And Partnerships (Schedule Of Combined Condensed Balance Sheets) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Property	$ 1,220,903	$ 1,378,328
Accumulated depreciation	(279,956)	(331,856)
Property, net	940,947	1,046,472
Other assets, net	98,576	108,366
Total Assets	1,039,523	1,154,838
LIABILITIES AND EQUITY
Debt, net (primarily mortgages payable)	264,098	264,782
Amounts payable to Weingarten Realty Investors and Affiliates	10,495	11,972
Other liabilities, net	21,980	25,498
Total Liabilities	296,573	302,252
Equity	742,950	852,586
Total Liabilities and Equity	$ 1,039,523	$ 1,154,838

Investment In Real Estate Joi_5

Investment In Real Estate Joint Ventures And Partnerships (Schedule Of Combined Condensed Statements Of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Schedule of Equity Method Investments [Line Items]
Revenues, net	$ 33,739	$ 32,515
Expenses:
Depreciation and amortization	8,762	7,849
Interest, net	2,418	2,459
Operating	7,111	6,100
Real estate taxes, net	4,400	4,535
General and administrative	105	69
Provision for income taxes	36	33
Total	22,832	21,045
Gain on dispositions	13,576	17,787
Net income	55,606	12,005
Equity Method Investments [Member]
Expenses:
Gain on dispositions	$ 44,699	$ 535

Debt (Narrative) (Details)

Debt (Narrative) (Details) $ in Thousands	Dec. 11, 2019USD ($)item	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Jan. 03, 2020USD ($)
Debt Instrument [Line Items]
Debt service guaranty liability		$ 57,380		$ 57,380
Principal payments of debt		18,749	$ 1,576
Debt instruments collateral value		500,000		500,000
Outstanding revolving credit facility		497,000		0
Finance lease obligation		21,777		$ 21,804
Net premium/(discount) on debt		(3,700)
Deferred finance costs, net		(5,400)
Non-cash debt		1,900
Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under credit facility	$ 500,000
Number of credit facility 6-month extensions | item	2
Line of credit facility, extension period	6 months
Bids amount (up to)		250,000
Maximum increase in credit facility amount (up to)		$ 850,000
Commitment fee percentage		0.15%		0.15%
Outstanding revolving credit facility		$ 497,000		$ 0
Debt Service Guaranty [Member]
Debt Instrument [Line Items]
Debt coverage ratio		1.4
Mortgages [Member]
Debt Instrument [Line Items]
Principal payments of debt				$ 50,000
Debt stated interest rate				7.00%
Short-Term Unsecured Facility [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under credit facility					$ 10,000
Fixed interest rate loan period (in days)		30 days		30 days
Commitment fee percentage		0.10%		0.10%
Unused capacity, commitment fee percentage		0.05%		0.05%
London Interbank Offered Rate (LIBOR) [Member] | Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		0.825%		0.825%
Thirty-Day LIBOR [Member] | Short-Term Unsecured Facility [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		1.25%		1.25%
Financial Standby Letter of Credit [Member]
Debt Instrument [Line Items]
Securities pledged as collateral		$ 5,300		$ 5,300
Guarantor obligations, maximum exposure, undiscounted		$ 5,000		$ 5,000

Debt (Schedule Of Debt) (Detail

Debt (Schedule Of Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt payable, net to 2038	$ 1,653,036	$ 1,653,154
Unsecured notes payable under credit facilities	497,000	0
Debt service guaranty liability	57,380	57,380
Finance lease obligation	21,777	21,804
Total	$ 2,229,193	$ 1,732,338
Debt Payable Due Date Two Thousand Thirty Eight [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt stated interest rate	3.30%	3.30%
Debt Payable Due Date Two Thousand Thirty Eight [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt stated interest rate	7.00%	7.00%
Debt Payable Due Date Two Thousand Thirty Eight [Member] | Weighted Average [Member]
Debt Instrument [Line Items]
Debt stated interest rate	3.90%	3.90%

Debt (Grouping Of Debt Between

Debt (Grouping Of Debt Between Fixed And Variable As Well As Secured And Unsecured) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total	$ 2,229,193	$ 1,732,338
As To Interest Rate [Member]
Debt Instrument [Line Items]
Fixed-rate debt	1,732,193	1,714,890
Variable-rate debt	497,000	17,448
Total	2,229,193	1,732,338
As To Collateralization [Member]
Debt Instrument [Line Items]
Unsecured debt	1,948,229	1,450,762
Secured debt	280,964	281,576
Total	$ 2,229,193	$ 1,732,338

Debt (Schedule Of Credit Facili

Debt (Schedule Of Credit Facilities) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Line of Credit Facility [Line Items]
Balance outstanding	$ 497,000	$ 0
Maximum balance outstanding during the period	497,000	5,000
Weighted average balance	$ 50,308	$ 123
Year-to-date weighted average interest rate (excluding facility fee)	1.46%	3.30%
Unsecured Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Balance outstanding	$ 497,000	$ 0
Available balance	$ 946	497,946
Variable interest rate (excluding facility fee)	0.97%
Letters of Credit [Member]
Line of Credit Facility [Line Items]
Letters of credit outstanding under facility	$ 2,054	2,054
Short-Term Unsecured Facility [Member]
Line of Credit Facility [Line Items]
Balance outstanding	$ 0	$ 0
Variable interest rate (excluding facility fee)	0.00%	0.00%

Debt (Principal Payments Of Deb

Debt (Principal Payments Of Debt) (Details) $ in Thousands	Mar. 31, 2020USD ($)
Debt Disclosure [Abstract]
2020 remaining	$ 4,227
2021	18,795
2022	308,298
2023	348,207
2024	252,561
2025	294,232
2026	277,733
2027	53,604
2028	92,159
2029	917
Thereafter	9,518
Total	$ 1,660,251

Common Shares of Beneficial I_2

Common Shares of Beneficial Interest (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	May 11, 2020
Class of Stock [Line Items]
Value of shares approved to be repurchased	$ 200
Common Shares of Beneficial Interest; par value (dollars per share)	$ 0.03	$ 0.03
Common Shares of Beneficial Interest
Class of Stock [Line Items]
Stock repurchase program, remaining authorized repurchase amount	$ 163.3		$ 163.3
Stock Repurchased During Period, Shares	800,000	0
Common Shares of Beneficial Interest; par value (dollars per share)	$ 21.47

Leasing Operations (Details)

Leasing Operations (Details) - Maximum [Member]	Mar. 31, 2020
Lessor, Lease, Description [Line Items]
Lease term	10 years
Lease renewal term	5 years

Leasing Operations Variable lea

Leasing Operations Variable lease payments recognized in Rentals, net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Variable lease payments	$ 26,877	$ 27,930

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Cash and Cash Equivalents *	$ 484,697	$ 41,481	$ 60,570
Restricted Deposits and Escrows	30,804	13,810	11,134
Total	$ 515,501	$ 55,291	$ 71,704	$ 76,137

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information (Summary of Non-Cash Transactions) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Accrued property construction costs	$ 11,867	$ 11,570
Right-of-use assets exchanged for operating lease liabilities	0	42,913
Increase in debt, net associated with the acquisition of real estate and land	$ 17,952	$ 0

Earnings Per Share (Components

Earnings Per Share (Components Of Earnings Per Common Share - Basic And Diluted) (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Continuing Operations:
Net income	$ 54,248	$ 51,254
Net income attributable to noncontrolling interests	(1,626)	(1,588)
Net income attributable to common shareholders - basic	52,622	49,666
Income attributable to operating partnership units	528
Net income attributable to common shareholders - diluted	$ 53,150	$ 49,666
Denominator:
Weighted average shares outstanding - basic (in shares)	127,862	127,756
Effect of dilutive securities:
Share options and awards (in shares)	943	834
Operating partnership units (in shares)	1,432
Weighted average shares outstanding - diluted (in shares)	130,237	128,590

Earnings Per Share (Schedule Of

Earnings Per Share (Schedule Of Anti-Dilutive Securities Of Common Shares) (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating partnership units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0	1,432

Share Options and Awards (Narra

Share Options and Awards (Narrative) (Details) - Restricted Shares [Member] - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 3.1	$ 2.1
Weighted average expected amortization period for unrecognized compensation cost (in years)	2 years 2 months 12 days	1 year 9 months 18 days

Share Options and Awards (Fair

Share Options and Awards (Fair Value Of Market-Based Share Awards Assumptions) (Details) - Restricted Shares [Member]	3 Months Ended
	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum	19.00%
Expected volatility, maximum	20.00%
Expected life (in years)	3 years
Risk-free interest rate, minimum	0.00%
Risk-free interest rate, maximum	1.60%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	5.20%

Share Options and Awards (Summa

Share Options and Awards (Summary Of The Status Of Unvested Share Awards) (Details)	3 Months Ended
	Mar. 31, 2020$ / sharesshares
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) | shares	144,640
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	$ 30.19
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) | shares	66,953
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	$ 31.18
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) | shares	66,952
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	$ 21.29
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, 2020 (in shares) | shares	801,346
Unvested share awards, vested (in shares) | shares	(218,516)
Unvested share awards, forfeited (in shares) | shares	(229)
Unvested share awards, outstanding, March 31, 2020 (in shares) | shares	861,146
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, 2020 (in dollars per share) | $ / shares	$ 29.56
Weighted average grant date fair value, vested (in dollars per share) | $ / shares	34.08
Weighted average grant date fair value, forfeited (in dollars per share) | $ / shares	29.07
Weighted average grant date fair value, outstanding, March 31, 2020 (in dollars per share) | $ / shares	$ 28

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Retirement Benefits [Abstract]
Defined benefit plan, expected future employer contributions, remainder of fiscal year	$ 1
Defined Benefit Plan, Plan Assets, Contributions by Employer			$ 1
Defined contribution plan, compensation expense	$ 1.1	$ 1

Employee Benefit Plans (Schedul

Employee Benefit Plans (Schedule Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Retirement Benefits [Abstract]
Service cost	$ 273	$ 325
Interest cost	280	475
Expected return on plan assets	(592)	(861)
Amortization of net loss	297	288
Total	$ 258	$ 227

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)Partnership	Dec. 31, 2019USD ($)Partnership
Capital Additions [Member]
Long-term Purchase Commitment [Line Items]
Purchase contract, commitment	$ 85.8
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 | Partnership	2	2
Aggregate redemption value	$ 21	$ 45

Variable Interest Entities (Nar

Variable Interest Entities (Narrative) (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)itemproperty	Dec. 31, 2019itemproperty
Variable Interest Entity [Line Items]
Number of VIE real estate joint ventures guaranteed by company	1	1
Additional support contributions | $	$ 2.7
Consolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Number of VIE real estate joint ventures	8	8
Number of real estate properties | property	21	21
Unconsolidated Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Number of VIE real estate joint ventures	2	2
Number of joint venture arrangements	1
Variable interest entity, nonconsolidated, additional future funding | $	$ 5.9

Variable Interest Entities (Sum

Variable Interest Entities (Summary Of Consolidated Variable Interest Entities) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)item	Dec. 31, 2019USD ($)item
Variable Interest Entity [Line Items]
Assets	$ 4,384,788	$ 3,937,934
Number of VIE real estate joint ventures guaranteed by company | item	1	1
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Assets	$ 225,811	$ 228,954
Assets Held as Collateral for Debt	37,731	39,782
Maximum Risk of Loss	$ 29,784	$ 29,784

Variable Interest Entities (S_2

Variable Interest Entities (Summary Of Unconsolidated Variable Interest Entities) (Details) - Unconsolidated Variable Interest Entities [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Investment in real estate joint ventures and partnerships, net	$ 131,463	$ 128,361
Maximum risk of loss	34,000	34,000
Other Liabilities [Member]
Variable Interest Entity [Line Items]
Other Liabilities, net	$ 7,164	$ 7,735

Fair Value Measurements (Assets

Fair Value Measurements (Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Assets:
Restricted cash, primarily money market funds	$ 30,376		$ 12,793
Liabilities:
Gain included in interest and other income/expense	(6,000)	$ 3,500	9,400
Equity securities, unrealized gain (loss)	(6,300)	$ 3,000	6,700
Recurring [Member]
Assets:
Assets, fair value disclosure	514,956		76,624
Liabilities:
Deferred compensation plan obligations	32,358		38,378
Total	32,358		38,378
Recurring [Member] | Money Market Funds [Member]
Assets:
Cash equivalents	473,502		28,330
Restricted cash, primarily money market funds	9,096		9,916
Recurring [Member] | Grantor Trusts [Member]
Assets:
Investments	32,358		38,378
Recurring [Member] | Quoted Prices In Active Markets For Identical Assets And Liabilities (Level 1) [Member]
Assets:
Assets, fair value disclosure	514,956		76,624
Liabilities:
Deferred compensation plan obligations	32,358		38,378
Total	32,358		38,378
Recurring [Member] | Quoted Prices In Active Markets For Identical Assets And Liabilities (Level 1) [Member] | Money Market Funds [Member]
Assets:
Cash equivalents	473,502		28,330
Restricted cash, primarily money market funds	9,096		9,916
Recurring [Member] | Quoted Prices In Active Markets For Identical Assets And Liabilities (Level 1) [Member] | Grantor Trusts [Member]
Assets:
Investments	32,358		38,378
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets:
Assets, fair value disclosure	0		0
Liabilities:
Total	0		0
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets:
Assets, fair value disclosure	0		0
Liabilities:
Total	$ 0		$ 0

Fair Value Measurements (Asse_2

Fair Value Measurements (Assets And Liabilities Measured On Nonrecurring Basis) (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2019
Assets:
Impairment loss	$ (44)		$ (74)
Nonrecurring [Member]
Assets:
Assets, fair value		$ 25,984		$ 25,984
Impairment loss				(3,070)
Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets:
Assets, fair value		1,830		1,830
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets:
Assets, fair value		24,154		24,154
Nonrecurring [Member] | Equity Method Investments [Member]
Assets:
Assets, fair value		25,984		25,984
Total Gains (Losses)		(3,100)		(3,070)
Nonrecurring [Member] | Equity Method Investments [Member] | Carrying Value [Member]
Assets:
Assets, fair value		29,100		29,100
Nonrecurring [Member] | Equity Method Investments [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets:
Assets, fair value		1,830		1,830
Nonrecurring [Member] | Equity Method Investments [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets:
Assets, fair value		$ 24,154		$ 24,154

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule Of Fair Value Disclosures) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Carrying Value [Member] | Fixed Rate Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	$ 1,732,193	$ 1,714,890
Carrying Value [Member] | Variable Rate Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	497,000	17,448
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 Disclosure	1,760,926	1,787,663
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 Disclosure	497,000	17,426
Tax Increment Revenue Bonds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held		31,000
Tax Increment Revenue Bonds [Member] | Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Securities, Held-to-maturity, Fair Value	17,277	17,277
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	$ 21,000	$ 25,000

Fair Value Measurements (Signif

Fair Value Measurements (Significant Unobservable Inputs) (Details) - Nonrecurring [Member]	Dec. 31, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	$ 25,984,000
Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	25,984,000
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	24,154,000
Significant Unobservable Inputs (Level 3) [Member] | Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	$ 24,154,000
Alternative Investment, Valuation Technique [Extensible List]	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Discount Rate [Member] | Equity Method Investments [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset, measurement input	0.073
Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Discount Rate [Member] | Equity Method Investments [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset, measurement input	0.075
Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Cap Rate [Member] | Equity Method Investments [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset, measurement input	0.058
Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Cap Rate [Member] | Equity Method Investments [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset, measurement input	0.080
Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Noncontrolling Interest Discount [Member] | Equity Method Investments [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset, measurement input	0.150

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) $ in Millions	1 Months Ended
	May 05, 2020USD ($)tenant	Mar. 31, 2020USD ($)
Subsequent Event [Line Items]
Rent deferred over the next several months		$ 0
Subsequent Event [Member]
Subsequent Event [Line Items]
Percentage of tenants who have paid April rent	64.00%
Number of tenants with negotiated rent deferrals | tenant	700
Rent collected	$ 24.8
Rent deferred over the next several months	$ 8.5