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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Real estate:    
Land $ 912,922 $ 867,884
Buildings and improvements 980,753 847,339
Investment in direct financing leases, net 44,434 59,964
Construction in progress 102 426
Real estate held for use 1,938,211 1,775,613
Less accumulated depreciation and amortization (294,269) (265,593)
Real estate held for use, net 1,643,942 1,510,020
Lease intangible assets, net 121,455 100,315
Real estate held for sale, net 2,609 2,429
Real estate, net 1,768,006 1,612,764
Notes and mortgages receivable 39,004 112,008
Cash and cash equivalents 4,013 3,307
Restricted cash 3,009 1,979
Deferred rent receivable 59,225 54,424
Accounts receivable 2,411 5,012
Right-of-use assets - operating 12,832 14,571
Right-of-use assets - finance 119 174
Prepaid expenses and other assets, net 13,244 18,066
Total assets 1,901,863 1,822,305
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Borrowings under Revolving Credit Facility 12,500 10,000
Senior Unsecured Notes, net 673,594 673,406
Term Loan, net 148,636 72,692
Environmental remediation obligations 20,812 22,369
Dividends payable 25,422 24,850
Lease liability - operating 14,170 16,051
Lease liability - finance 403 595
Accounts payable and accrued liabilities, net 42,935 46,790
Total liabilities 938,472 866,753
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; 55,016,894 and 53,952,539 shares issued and outstanding, respectively 550 540
Accumulated other comprehensive income (loss) (3,974) (4,021)
Additional paid-in capital 1,087,562 1,053,129
Dividends paid in excess of earnings (120,747) (94,096)
Total stockholders’ equity 963,391 955,552
Total liabilities and stockholders’ equity $ 1,901,863 $ 1,822,305