v3.25.4
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Rental Property:    
Land $ 811,569,000 $ 771,794,000
Buildings and improvements, net of accumulated depreciation of $1,119,931 and $1,085,866, respectively 5,593,471,000 5,295,120,000
Deferred leasing intangibles, net of accumulated amortization of $425,502 and $386,627, respectively 394,967,000 428,865,000
Total rental property, net 6,800,007,000 6,495,779,000
Cash and cash equivalents 14,910,000 36,284,000
Restricted cash 85,973,000 1,109,000
Tenant accounts receivable 156,458,000 136,357,000
Prepaid expenses and other assets 104,484,000 96,189,000
Interest rate swaps 13,529,000 36,466,000
Operating lease right-of-use assets 32,708,000 31,151,000
Total assets 7,208,069,000 6,833,335,000
Liabilities:    
Unsecured credit facility 262,000,000 409,000,000
Unsecured term loans, net 1,021,341,000 1,021,848,000
Unsecured notes, net 1,966,994,000 1,594,092,000
Mortgage note, net 3,980,000 4,195,000
Accounts payable, accrued expenses and other liabilities 135,397,000 126,811,000
Interest rate swaps 1,310,000 0
Tenant prepaid rent and security deposits 59,225,000 56,173,000
Dividends and distributions payable 24,187,000 23,469,000
Deferred leasing intangibles, net of accumulated amortization of $34,098 and $31,368, respectively 25,566,000 33,335,000
Operating lease liabilities 37,040,000 35,304,000
Total liabilities 3,537,040,000 3,304,227,000
Commitments and contingencies (Note 11)
Equity:    
Preferred stock, par value $0.01 per share, 20,000,000 shares authorized at December 31, 2025 and December 31, 2024; none issued or outstanding 0 0
Common stock, par value $0.01 per share, 300,000,000 shares authorized at December 31, 2025 and December 31, 2024, 191,005,261 and 186,517,523 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively 1,910,000 1,865,000
Additional paid-in capital 4,616,888,000 4,449,964,000
Cumulative dividends in excess of earnings (1,034,954,000) (1,029,757,000)
Accumulated other comprehensive income 11,853,000 35,579,000
Total stockholders’ equity 3,595,697,000 3,457,651,000
Noncontrolling Interest in Operating Partnerships 71,342,000 69,932,000
Noncontrolling interest in joint ventures 3,990,000 1,525,000
Total equity 3,671,029,000 3,529,108,000
Total liabilities and equity $ 7,208,069,000 $ 6,833,335,000