Condensed 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 income | $ 70,270 | $ 65,760 | $ 139,136 | $ 127,947 |
| Resident fees and services | 14,217 | 13,390 | 28,156 | 26,645 |
| Interest income and other | 6,175 | 5,820 | 12,666 | 11,890 |
| Total revenues | 90,662 | 84,970 | 179,958 | 166,482 |
| Expenses: | ||||
| Depreciation | 19,918 | 17,490 | 39,075 | 34,995 |
| Interest | 15,001 | 14,854 | 29,338 | 29,723 |
| Senior housing operating expenses | 10,396 | 10,437 | 21,249 | 20,751 |
| Legal | 1,095 | 165 | 2,521 | 400 |
| Franchise, excise and other taxes | 243 | 47 | 512 | (139) |
| General and administrative | 6,125 | 4,870 | 12,954 | 10,510 |
| Proxy contest and related expenses | 1,308 | 0 | 1,572 | 0 |
| Taxes and insurance on leased properties | 2,914 | 2,802 | 5,801 | 5,535 |
| Loan and realty (gains) losses, net | (1,393) | 1,106 | (1,407) | 1,116 |
| Total expenses | 55,607 | 51,771 | 111,615 | 102,891 |
| Gains on sales of real estate properties, net | 110 | 1,517 | 224 | 1,617 |
| Gains from equity method investment | 1,524 | 236 | 1,939 | 402 |
| Net income | 36,689 | 34,952 | 70,506 | 65,610 |
| Add: Net loss attributable to noncontrolling interests | 298 | 304 | 646 | 593 |
| Net income attributable to stockholders | 36,987 | 35,256 | 71,152 | 66,203 |
| Less: Net income attributable to unvested restricted stock awards | (49) | (29) | (101) | (61) |
| Net income attributable to common stockholders | $ 36,938 | $ 35,227 | $ 71,051 | $ 66,142 |
| Weighted average common shares outstanding: | ||||
| Basic (in shares) | 46,691,953 | 43,397,080 | 46,206,225 | 43,392,961 |
| Diluted (in shares) | 46,822,465 | 43,563,654 | 46,350,498 | 43,494,103 |
| Earnings per share - basic (in dollars per share) | $ 0.79 | $ 0.81 | $ 1.54 | $ 1.52 |
| Earnings per share - diluted (in dollars per share) | $ 0.79 | $ 0.81 | $ 1.53 | $ 1.52 |
| X | ||||||||||
- Definition Franchise, excise and other taxes No definition available.
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- Definition Litigation Settlement, Expense (Benefit) No definition available.
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- Definition This item represents the amount of loan and realty impairments net of any applicable gains or recoveries. No definition available.
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- Definition Senior Housing Operating Expenses No definition available.
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- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. 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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- References No definition available.
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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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- 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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- 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 income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest expense classified as operating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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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 amount of expense provided in the period for legal costs incurred on or before the balance sheet date pertaining to resolved, pending or threatened litigation, including arbitration and mediation proceedings. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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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/exampleRef
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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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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of preferred stock dividends and adjustments classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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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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- Definition The aggregate total of real estate taxes and insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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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/exampleRef
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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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- 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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