Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Revenues: | ||||
| Revenues from rental properties | $ 58,554 | $ 52,724 | $ 115,944 | $ 104,430 |
| Interest on notes and mortgages receivable | 497 | 533 | 951 | 1,157 |
| Total revenues | 59,051 | 53,257 | 116,895 | 105,587 |
| Operating expenses: | ||||
| Property costs | 2,020 | 2,443 | 4,031 | 4,425 |
| Impairments | 2,461 | 455 | 3,977 | 1,624 |
| Environmental | 337 | 5,341 | (7,209) | 5,457 |
| General and administrative | 7,297 | 6,794 | 16,353 | 13,720 |
| Depreciation and amortization | 16,760 | 14,917 | 33,033 | 30,958 |
| Total operating expenses | 28,875 | 29,950 | 50,185 | 56,184 |
| Gains on dispositions of real estate | 4,721 | 1,558 | 6,450 | 1,886 |
| Operating income | 34,897 | 24,865 | 73,160 | 51,289 |
| Other income, net | (45) | 53 | 335 | 147 |
| Interest expense | (12,267) | (10,904) | (24,281) | (22,636) |
| Net earnings | $ 22,585 | $ 14,014 | $ 49,214 | $ 28,800 |
| Basic net earnings per common share: | $ 0.36 | $ 0.24 | $ 0.79 | $ 0.49 |
| Diluted net earnings per common share: | $ 0.36 | $ 0.24 | $ 0.79 | $ 0.49 |
| Weighted average common shares outstanding: | ||||
| Basic | 60,580 | 55,530 | 60,225 | 55,297 |
| Diluted | 60,739 | 55,606 | 60,353 | 55,443 |
| Comprehensive income: | ||||
| Net earnings | $ 22,585 | $ 14,014 | $ 49,214 | $ 28,800 |
| Unrealized gain (loss) on cash flow hedges | 29 | (490) | ||
| Cash flow hedge expense reclassified to interest expense | 154 | 300 | ||
| Total other comprehensive income (loss) | 0 | 183 | 0 | (190) |
| Comprehensive income | $ 22,585 | $ 14,197 | $ 49,214 | $ 28,610 |
| X | ||||||||||
- Definition Costs and expenses before gains losses from sale of properties. No definition available.
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| X | ||||||||||
- Definition Environmental remediation expense (income). No definition available.
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- Definition Other comprehensive income (loss) cash flow hedge income reclassified to interest expense. No definition available.
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| X | ||||||||||
- Definition Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- 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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- 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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| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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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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| X | ||||||||||
- 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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| X | ||||||||||
- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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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- References No definition available.
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| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of operating lease income from lease payments and variable lease payments paid and payable to lessor. Includes, but is not limited to, variable lease payments not included in measurement of lease receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount, after tax and reclassification, of gain (loss) from derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness, attributable to parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. 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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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- 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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- References No definition available.
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| X | ||||||||||
- 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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