v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Real Estate:    
Land $ 1,084,683 $ 1,050,611
Buildings and improvements 1,220,035 1,141,467
Lease intangible assets 228,269 209,184
Investment in direct financing leases, net 36,195 38,853
Construction in progress 108 73
Real estate held for use 2,569,290 2,440,188
Less accumulated depreciation and amortization (428,593) (405,908)
Real estate held for use, net 2,140,697 2,034,280
Real estate held for sale, net 2,517 1,896
Real estate, net 2,143,214 2,036,176
Notes and mortgages receivable 29,361 19,466
Cash and cash equivalents 4,848 8,361
Restricted cash 4,423 4,419
Deferred rent receivable 74,670 70,325
Accounts receivable 3,110 2,366
Right-of-use assets - operating 8,761 10,190
Right-of-use assets - finance 37 60
Prepaid expenses and other assets 22,799 22,005
Total assets 2,291,223 2,173,368
LIABILITIES AND STOCKHOLDERS' EQUITY:    
Credit Facility 73,000 250,000
Senior Unsecured Notes, net 996,926 748,351
Environmental remediation obligations 8,399 15,928
Dividends payable 30,934 29,828
Lease liability - operating 9,734 11,300
Lease liability - finance 107 174
Accounts payable and accrued liabilities 49,619 45,658
Total liabilities 1,168,719 1,101,239
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.01 par value; 20,000,000 authorized; unissued
Common stock, $0.01 par value; 100,000,000 shares authorized; 61,932,369 and 59,815,921 shares issued and outstanding, respectively 619 598
Accumulated other comprehensive income (loss) (0) (0)
Additional paid-in capital 1,291,644 1,229,340
Dividends paid in excess of earnings (169,759) (157,809)
Total stockholders’ equity 1,122,504 1,072,129
Total liabilities and stockholders’ equity $ 2,291,223 $ 2,173,368