CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
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| Revenues: | ||||
| Rental revenue | $ 64,814 | $ 58,539 | $ 128,296 | $ 117,112 |
| Restaurant revenue | 8,028 | 7,940 | 16,022 | 15,834 |
| Total revenues | 72,842 | 66,479 | 144,318 | 132,946 |
| Operating expenses: | ||||
| General and administrative | 6,440 | 6,004 | 14,079 | 12,217 |
| Depreciation and amortization | 14,620 | 13,345 | 29,049 | 26,812 |
| Total operating expenses | 31,807 | 29,517 | 64,695 | 59,842 |
| Interest expense | (13,081) | (12,324) | (25,812) | (24,605) |
| Other income | 113 | 150 | 505 | 390 |
| Income tax expense | (112) | (86) | (175) | (113) |
| Net income | 27,955 | 24,702 | 54,141 | 48,776 |
| Net income attributable to noncontrolling interest | (31) | (30) | (61) | (60) |
| Net Income Available to Common Shareholders | $ 27,924 | $ 24,672 | $ 54,080 | $ 48,716 |
| Basic net income per share (in usd per share) | $ 0.28 | $ 0.27 | $ 0.54 | $ 0.53 |
| Diluted net income per share (in usd per share) | $ 0.28 | $ 0.27 | $ 0.54 | $ 0.53 |
| Weighted average number of common shares outstanding: | ||||
| Basic (in shares) | 100,820,074 | 91,807,764 | 100,267,510 | 91,763,619 |
| Diluted (in shares) | 101,168,231 | 91,994,062 | 100,631,217 | 91,976,282 |
| Dividends declared per common share (in usd per share) | $ 0.355 | $ 0.345 | $ 0.71 | $ 0.69 |
| Property | ||||
| Operating expenses: | ||||
| Expenses | $ 3,386 | $ 2,836 | $ 6,651 | $ 5,917 |
| Restaurant | ||||
| Operating expenses: | ||||
| Expenses | $ 7,361 | $ 7,332 | $ 14,916 | $ 14,896 |
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- 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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- 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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- 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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- 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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- 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/disclosureRef
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- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- 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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- 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/disclosureRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition Amount of income related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- 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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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- 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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- References No definition available.
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- 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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- 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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- References No definition available.
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