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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Real estate:    
Land $ 903,208 $ 867,884
Buildings and improvements 939,713 847,339
Investment in direct financing leases, net 56,684 59,964
Construction in progress 1,338 426
Real estate held for use 1,900,943 1,775,613
Less accumulated depreciation and amortization (286,422) (265,593)
Real estate held for use, net 1,614,521 1,510,020
Lease intangible assets, net 118,199 100,315
Real estate held for sale, net 2,383 2,429
Real estate, net 1,735,103 1,612,764
Notes and mortgages receivable 62,699 112,008
Cash and cash equivalents 4,723 3,307
Restricted cash 2,360 1,979
Deferred rent receivable 57,741 54,424
Accounts receivable 4,400 5,012
Right-of-use assets - operating 13,426 14,571
Right-of-use assets - finance 131 174
Prepaid expenses and other assets, net 11,293 18,066
Total assets 1,891,876 1,822,305
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Borrowings under Revolving Credit Facility 17,500 10,000
Senior Unsecured Notes, net 673,531 673,406
Term Loan, net 148,321 72,692
Environmental remediation obligations 20,958 22,369
Dividends payable 25,047 24,850
Lease liability - operating 14,791 16,051
Lease liability - finance 472 595
Accounts payable and accrued liabilities, net 40,222 46,790
Total liabilities 940,842 866,753
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; 54,184,831 and 53,952,539 shares issued and outstanding, respectively 542 540
Accumulated other comprehensive income (loss) (1,051) (4,021)
Additional paid-in capital 1,062,204 1,053,129
Dividends paid in excess of earnings (110,661) (94,096)
Total stockholders’ equity 951,034 955,552
Total liabilities and stockholders’ equity $ 1,891,876 $ 1,822,305