v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 49,214 $ 28,800
Adjustments to reconcile net earnings to net cash flow provided by operating activities:    
Depreciation and amortization expense 33,033 30,958
Impairments 3,977 1,624
Gains on dispositions of real estate (6,450) (1,886)
Deferred rent receivable (4,345) (4,350)
Amortization of intangible market lease assets and liabilities and lease incentives 673 240
Amortization of investment in direct financing leases 2,659 2,246
Amortization of debt issuance costs 799 1,768
Accretion expense 156 164
Stock-based compensation expense 2,727 3,403
Changes in assets and liabilities:    
Accounts receivable (744) (46)
Prepaid expenses and other assets (2,677) (1,477)
Environmental remediation obligations (8,906) (1,764)
Accounts payable and accrued liabilities 4,674 3,732
Net cash flow provided by operating activities 74,790 63,412
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property acquisitions (150,794) (87,228)
Capital expenditures (93) (228)
Addition to construction in progress (52) (2)
Proceeds from dispositions of real estate 11,044 3,373
Deposits for property acquisitions 20 6,878
Issuance of notes and mortgages receivable (13,879) (6,437)
Collection of notes and mortgages receivable 4,577 15,700
Net cash flow used in investing activities (149,177) (67,944)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings from Credit Facility 180,000 375,000
Repayments of Credit Facility (357,000) (282,500)
Proceeds from Senior Unsecured Notes 250,000 125,000
Repayment of Term Loan   (150,000)
Repayments of Senior Unsecured Notes   (50,000)
Payments of finance lease liability (67) (93)
Payments of cash dividends (60,025) (53,361)
Payments of debt issuance costs (1,653) (4,379)
Security deposits received (refunded) 57 294
Payments in settlement of restricted stock units (146) (1,165)
Proceeds from issuance of common stock, net - equity offering   32,763
Proceeds from issuance of common stock, net - ATM Program 59,712 10,942
Net cash flow provided by financing activities 70,878 2,501
Change in cash, cash equivalents and restricted cash (3,509) (2,031)
Cash, cash equivalents and restricted cash at beginning of period 12,780 13,617
Cash, cash equivalents and restricted cash at end of period 9,271 11,586
Supplemental disclosures of cash flow information Cash paid during the period for:    
Interest 17,149 20,437
Income taxes 581 529
Environmental remediation obligations 1,209 1,537
Non-cash transactions    
Dividends declared but not yet paid 30,934 27,393
Issuance of notes and mortgages receivable related to property dispositions $ 448 $ 225