v3.25.4
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues:      
Rental income $ 924,380 $ 867,468 $ 826,090
Interest and other income from real estate transactions 1,833 1,798 2,021
Total revenues 926,213 869,266 828,111
Operating expenses:      
General and administrative 46,923 44,287 43,746
Real estate 37,381 32,317 28,378
Depreciation and amortization 268,439 249,681 238,625
Leasing transaction costs 486 99 299
Impairment losses - real estate, net of recoveries 28,602 6,632 5,990
Retirement And Severance Costs 3,116 668 3,454
Total operating expenses 384,947 333,684 320,492
Gain on disposition of real estate 48,220 42,290 47,485
Earnings from operations 589,486 577,872 555,104
Other expenses (revenues):      
Interest and other income (4,246) (2,980) (1,134)
Interest expense 203,955 184,017 163,898
Total other expenses (revenues) 199,709 181,037 162,764
Net earnings $ 389,777 $ 396,835 $ 392,340
Net earnings per share:      
Basic (in dollars per share) $ 2.07 $ 2.16 $ 2.16
Diluted (in dollars per share) $ 2.07 $ 2.15 $ 2.16
Weighted average shares outstanding:      
Basic (in shares) 187,611,451 183,688,562 181,200,040
Diluted (in shares) 187,986,798 184,043,841 181,689,723
Other comprehensive income:      
Net earnings $ 389,777 $ 396,835 $ 392,340
Amortization of interest rate hedges 1,690 2,152 2,471
Fair value of forward starting swaps (52) 0 0
Total comprehensive income $ 391,415 $ 398,987 $ 394,811