v3.25.4
ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)
 12 Months Ended
Dec. 31, 2025
Accounts Payable and Accrued Liabilities [Abstract]  
Summary of Accounts Payable and Accrued Expenses
A summary of the Company’s Accounts payable and accrued expenses follows:
 December 31,
20252024
(In thousands)
Property taxes payable                                                    $14,707 11,528 
Development costs payable 15,919 16,388 
Retainage payable6,324 10,920 
Real estate improvements and capitalized leasing costs payable10,341 8,753 
Interest payable                              8,041 8,351 
Dividends payable84,725 74,049 
Book overdraft (1)
9,052 — 
Incentive compensation payable8,614 6,726 
Other payables and accrued expenses                   12,222 10,627 
 Total Accounts payable and accrued expenses
$169,945 147,342 

(1)Represents checks written before the end of the period which have not cleared the bank; therefore, the bank has not yet advanced cash to the Company. When the checks clear the bank, they will be funded through the Company’s working cash line of credit, which is included in the Company’s Unsecured bank credit facilities. See Note 1(q).