v3.25.4

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) $ in Thousands | Dec. 31, 2025 | Dec. 31, 2024
--- | --- | ---
Accounts Payable and Accrued Liabilities [Abstract] |  |  |
Property taxes payable |  | $ 14,707 | $ 11,528
Development costs payable |  | 15,919 | 16,388
Retainage payable |  | 6,324 | 10,920
Real estate improvements and capitalized leasing costs payable |  | 10,341 | 8,753
Interest payable |  | 8,041 | 8,351
Dividends payable |  | 84,725 | 74,049
Book overdraft | [1] | 9,052 | 0
Incentive compensation payable |  | 8,614 | 6,726
Other payables and accrued expenses |  | 12,222 | 10,627
Total accounts payable and accrued expenses |  | $ 169,945 | $ 147,342
[1] | Represents checks written before the end of the period which have not cleared the bank; therefore, the bank has not yet advanced cash to the Company. When the checks clear the bank, they will be funded through the Company’s working cash line of credit, which is included in the Company’s Unsecured bank credit facilities. See Note 1(q).

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