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Equity (Tables)
3 Months Ended
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