Consolidated Statements of Operations - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Revenues: | ||||
| Rental revenue | $ 129,108 | $ 104,369 | $ 250,900 | $ 202,880 |
| Interest on loans and direct financing lease receivables | 7,573 | 4,858 | 15,098 | 9,598 |
| Other revenue, net | 381 | 41 | 418 | 292 |
| Total revenues | 137,062 | 109,268 | 266,416 | 212,770 |
| Expenses: | ||||
| General and administrative | 10,670 | 8,710 | 22,213 | 18,068 |
| Property expenses | 1,497 | 1,155 | 3,754 | 2,148 |
| Depreciation and amortization | 38,590 | 29,927 | 73,583 | 58,453 |
| Provision for impairment of real estate | 612 | 2,812 | 6,495 | 6,564 |
| Change in provision for credit losses | (44) | 1 | 0 | 3 |
| Total expenses | 51,325 | 42,605 | 106,045 | 85,236 |
| Other operating income: | ||||
| Gain on dispositions of real estate, net | 2,076 | 134 | 7,060 | 1,645 |
| Income from operations | 87,813 | 66,797 | 167,431 | 129,179 |
| Other (expense)/income: | ||||
| Interest expense | (24,998) | (17,361) | (48,791) | (32,958) |
| Interest income | 711 | 847 | 1,325 | 1,340 |
| Other income | 0 | 1,548 | 0 | 1,548 |
| Income before income tax expense | 63,526 | 51,831 | 119,965 | 99,109 |
| Income tax expense | 156 | 155 | 314 | 311 |
| Net income | 63,370 | 51,676 | 119,651 | 98,798 |
| Net income attributable to non-controlling interests | (158) | (159) | (331) | (307) |
| Net income attributable to stockholders | $ 63,212 | $ 51,517 | $ 119,320 | $ 98,491 |
| Basic weighted average shares outstanding (in shares) | 197,551,003 | 175,319,270 | 193,030,913 | 171,304,986 |
| Basic net income per share (in USD per share) | $ 0.32 | $ 0.29 | $ 0.62 | $ 0.57 |
| Diluted weighted average shares outstanding (in shares) | 199,632,311 | 177,583,989 | 195,317,678 | 173,219,295 |
| Diluted net income per share (in USD per share) | $ 0.32 | $ 0.29 | $ 0.61 | $ 0.57 |
| X | ||||||||||
- Definition Interest income on loans and direct financing lease receivables. No definition available.
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| X | ||||||||||
- Definition Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount, excluding accrued interest, of credit loss expense (reversal of expense) on financing receivable. Excludes net investment in lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of interest income earned from interest bearing assets classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of lease income from operating, direct financing, and sales-type leases. Includes, but is not limited to, variable lease payments, interest income, profit (loss) recognized at commencement, and lease payments paid and payable to lessor. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of income related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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