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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Real estate:    
Land $ 717,846 $ 707,613
Buildings and improvements 583,333 537,272
Construction in progress 774 734
Total real estate held for use, gross 1,301,953 1,245,619
Less accumulated depreciation and amortization (200,569) (186,964)
Real estate held for use, net 1,101,384 1,058,655
Real estate held for sale, net   872
Real estate, net 1,101,384 1,059,527
Investment in direct financing leases, net 74,895 77,238
Notes and mortgages receivable 21,452 11,280
Cash and cash equivalents 19,025 55,075
Restricted cash 1,791 1,979
Deferred rent receivable 45,668 44,155
Accounts receivable 3,303 3,811
Right-of-use assets - operating 22,907 24,319
Right-of-use assets - finance 660 763
Prepaid expenses and other assets, net 73,353 71,365
Total assets 1,364,438 1,349,512
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Borrowings under credit agreement 17,500 25,000
Senior unsecured notes, net 523,907 523,828
Environmental remediation obligations 47,932 48,084
Dividends payable 17,785 17,332
Lease liability - operating 24,046 25,045
Lease liability - finance 3,195 3,541
Accounts payable and accrued liabilities 44,307 47,081
Total liabilities 678,672 689,911
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.01 par value; 20,000,000 shares authorized; unissued
Common stock, $0.01 par value; 100,000,000 shares authorized; 44,702,840 and 43,605,759 shares issued and outstanding, respectively 447 436
Additional paid-in capital 753,420 722,608
Dividends paid in excess of earnings (68,101) (63,443)
Total stockholders’ equity 685,766 659,601
Total liabilities and stockholders’ equity $ 1,364,438 $ 1,349,512