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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 8,387 $ (474)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 45,541 38,040
Net amortization of deferred financing costs, discounts on available-for-sale securities and debt discounts 7,647 2,459
Net amortization of intangible lease assets and liabilities 3,704 3,449
Gain on sales of real estate assets (21,532) (3,721)
Gain on deconsolidation (65)  
Share-based compensation expense 3,990 3,679
Loss on impairment   836
Loss on extinguishment of debt 217  
Equity in earnings of unconsolidated affiliates (6,913) (4,594)
Distributions of earnings from unconsolidated affiliates 4,535 3,692
Change in estimate of uncollectable revenues 559 1,522
Change in deferred tax accounts 2,575 1,331
Changes in:    
Tenant and other receivables 8,346 (356)
Other assets (7,015) (4,295)
Accounts payable and accrued liabilities (18,297) (10,830)
Net cash provided by operating activities 31,679 30,738
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to real estate assets (13,210) (6,846)
Acquisitions of real estate assets (6,158)  
Net proceeds from sales of real estate assets 71,509 6,746
Purchases of available-for-sale securities (54,773) (48,600)
Redemptions of available-for-sale securities 52,880 76,445
Additional investments in and advances to unconsolidated affiliates (164) (859)
Distributions in excess of equity in earnings of unconsolidated affiliates 1,933 494
Changes in other assets (569) (576)
Net cash provided by investing activities 51,448 26,804
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on mortgage and other indebtedness (72,779) (34,272)
Repurchases of common stock   (5,037)
Contributions from noncontrolling interests   13
Payment of tax withholdings for restricted stock awards and performance stock units (3,698) (1,062)
Distributions to noncontrolling interests (184) (133)
Dividends paid to common shareholders (37,123) (12,870)
Net cash used in financing activities (113,784) (53,361)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (30,657) 4,181
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 153,804 123,076
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 123,147 127,257
Reconciliation from condensed consolidated statements of cash flows to condensed consolidated balance sheets:    
Cash and cash equivalents 29,822 [1] 60,311
Restricted cash:    
Restricted cash 34,137 26,968
Mortgage escrows 59,188 39,978
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 123,147 127,257
SUPPLEMENTAL INFORMATION    
Cash paid for interest, net of amounts capitalized $ 34,382 $ 34,357
[1] As of March 31, 2025, includes $168,625 of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities and $208,932 of liabilities of consolidated variable interest entities for which creditors do not have recourse to the general credit of the Company. See Note 8.