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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Revenues from rental properties $ 50,494 $ 48,848 $ 146,430 $ 134,873
Interest on notes and mortgages receivable 973 1,638 3,945 3,331
Total revenues 51,467 50,486 150,375 138,204
Operating expenses:        
Property costs 3,927 8,710 11,614 18,221
Impairments 675 986 2,467 3,970
Environmental 305 313 138 977
General and administrative 5,948 5,745 18,772 17,942
Depreciation and amortization 13,960 11,288 39,984 32,580
Total operating expenses 24,815 27,042 72,975 73,690
(Loss) gain on dispositions of real estate (1,471) 583 (286) 1,486
Operating income 25,181 24,027 77,114 66,000
Other income, net 206 89 504 383
Interest expense (10,052) (8,083) (28,849) (22,701)
Loss on extinguishment of debt       (43)
Net earnings $ 15,335 $ 16,033 $ 48,769 $ 43,639
Basic earnings per common share:        
Net earnings $ 0.27 $ 0.31 $ 0.87 $ 0.86
Diluted earnings per common share:        
Net earnings $ 0.27 $ 0.31 $ 0.86 $ 0.85
Weighted average common shares outstanding:        
Basic 54,249,000 50,621,000 54,064,000 49,088,000
Diluted 54,619,000 50,712,000 54,194,000 49,301,000
Other comprehensive income:        
Unrealized (loss) gain on cash flow hedges $ (2,698)   $ 584  
Cash flow hedge income reclassified to interest expense (225)   (537)  
Total other comprehensive income (2,923)   47  
Comprehensive income $ 12,412 $ 16,033 $ 48,816 $ 43,639