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v3.25.1

Equity (Tables) | 3 Months Ended
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Mar. 31, 2025
Equity |
Schedule of consolidated VIEs | As of March 31, 2025, we have the following consolidated VIEs (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​
Investment | ​ | ​ | ​ | Property | ​ | ​ | ​ | ​ | Consolidated | ​ | ​ | Non-Controlling | ​
Year | ​ | Purpose | ​ | Type | ​ | State | ​ | ​ | Assets | ​ | ​ | Interests | ​
2024 | ​ | Own real estate | ​ | ILF/ALF/MC | ​ | NC/SC | ​ | $ | 122,460 | ​ | $ | 58,010 | ​
2024 | ​ | Own real estate | ​ | ALF/MC | ​ | NC | ​ | ​ | 41,000 | ​ | ​ | 3,015 | ​
2023 | ​ | Own real estate | ​ | ILF/ALF/MC | ​ | OH | ​ | ​ | 54,812 | ​ | ​ | 9,134 | ​
2023 | ​ | Own real estate | ​ | ALF/MC | ​ | NC | ​ | ​ | 121,419 | ​ | ​ | 2,916 | ​
2022 | ​ | Own real estate | ​ | SNF | ​ | FL | ​ | ​ | 76,582 | ​ | ​ | 14,325 | ​
Total | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 416,273 | ​ | $ | 87,400 | ​
(1) | Includes the total real estate investments and excludes intangible assets.
Schedule of cash dividends declared and paid | We declared and paid the following cash dividends (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31,
​ | ​ | 2025 | ​ | 2024
​ | ​ | Declared | ​ | Paid | ​ | Declared | ​ | Paid
Common Stock (1) | ​ | $ | 27,259 | (2) | $ | 27,259 | (2) | $ | 24,616 | ​ | $ | 24,616
(1) | Represents $0.19 per share per month for the three months ended March 31, 2025 and 2024.
​
(2) | Includes $1,236 of distribution related to vesting of the performance-based stock units.
Schedule of restricted stock activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31,
​ | ​ | Shares | ​ | Weighted Average Price
​ | ​ | 2025 | ​ | 2024 |  | 2025 | ​ | 2024
Outstanding, January 1 | ​ | ​ | 301,209 | ​ | ​ | 258,620 | ​ | $ | 33.18 | ​ | $ | 36.43
Granted | ​ | ​ | 113,790 | ​ | ​ | 159,536 | ​ | $ | 34.88 | ​ | $ | 30.72
Vested | ​ | ​ | (136,292) | ​ | ​ | (114,782) | ​ | $ | 34.18 | ​ | $ | 30.94
Cancelled | ​ | ​ | — | ​ | ​ | — | ​ | ​ | n/a | ​ | ​ | n/a
Outstanding, March 31 | ​ | ​ | 278,707 | (1) | ​ | 303,374 | ​ | $ | 33.63 | ​ | $ | 33.05
Schedule of restricted stock granted | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | No. of | ​ | Price per | ​ | ​ | ​ | ​ | ​
Year | ​ | Shares/Units | ​ | Share | ​ | Reward Type | ​ | Vesting Period | ​
2025 | ​ | 113,790 | ​ | $ | 34.88 | ​ | Restricted stock | ​ | ratably over 3 years | ​
​ | ​ | 52,666 | ​ | $ | 34.88 | ​ | Performance-based stock units | ​ | TSR targets (1) | ​
​ | ​ | 48,535 | ​ | $ | 34.88 | ​ | Performance-based stock units | ​ | TSR targets (2) | ​
​ | ​ | 214,991 | (3) | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2024 | ​ | 159,536 | ​ | $ | 30.72 | ​ | Restricted stock | ​ | ratably over 3 years | ​
​ | ​ | 69,610 | ​ | $ | 31.84 | ​ | Performance-based stock units | ​ | TSR targets (1) | ​
​ | ​ | 62,914 | ​ | $ | 31.84 | ​ | Performance-based stock units | ​ | TSR targets (2) | ​
​ | ​ | 292,060 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) | Vesting is based on achieving certain total shareholder return (“TSR”) targets in three years.
​
(2) | Vesting is based on achieving certain TSR targets relative to the TSR of a predefined peer group in three years.
​
(3) | Subsequent to March 31, 2025, 5,626 shares of restricted stock were granted and will vest in three years.
​
Schedule of restricted common stock and performance-based stock unit scheduled to vest and remaining compensation expense | Subsequent to March 31, 2025, we recognized $700,000 of compensation expense in connection with the accelerated vesting of restricted common stock and performance-based stock units in connection with an employee retirement. Additionally, subsequent to March 31, 2025, we granted 5,626 shares of restricted stock, which vests in three years. Accordingly, the remaining compensation expense, excluding the compensation expense related to the accelerated vesting, to be recognized related to the future service period of unvested outstanding restricted common stock and performance-based stock units are as follows (in thousands): ​
​ | ​ | ​ | ​
​ | ​ | Remaining
​ | ​ | Compensation
Vesting Date | ​ | Expense
April-December 2025 | ​ | $ | 6,055
2026 | ​ | ​ | 5,658
2027 | ​ | ​ | 2,899
2028 | ​ | ​ | 322
Total | ​ | $ | 14,934

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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-5A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-9 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-6 + Details
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