v3.25.1
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues:    
Rental income $ 230,574,000 $ 214,825,000
Interest and other income from real estate transactions 280,000 582,000
Total revenues 230,854,000 215,407,000
Operating expenses:    
General and administrative 13,008,000 12,584,000
Real estate 9,375,000 7,154,000
Depreciation and amortization 64,617,000 60,615,000
Leasing transaction costs 130,000 33,000
Impairment losses – real estate, net of recoveries 1,512,000 1,204,000
Executive retirement costs 2,173,000 317,000
Total operating expenses 90,815,000 81,907,000
Gain on disposition of real estate 3,813,000 4,821,000
Earnings from operations 143,852,000 138,321,000
Other expenses (revenues):    
Interest and other income (329,000) (119,000)
Interest expense 47,723,000 44,069,000
Total other expenses (revenues) 47,394,000 43,950,000
Net earnings $ 96,458,000 $ 94,371,000
Net earnings per share:    
Basic $ 0.52 $ 0.52
Diluted $ 0.51 $ 0.52
Weighted average shares outstanding:    
Basic 186,855,097 181,794,208
Diluted 187,080,084 182,212,897
Other comprehensive income:    
Net earnings $ 96,458,000 $ 94,371,000
Amortization of interest rate hedges 460,000 632,000
Fair value of forward starting swap (292,000) 0
Total comprehensive income $ 96,626,000 $ 95,003,000