v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 6,553 $ 102,734
Adjustments to reconcile to net cash provided by operating activities:    
Depreciation and amortization 75,045 61,352
Amortization of market-lease intangibles and inducements, net (3,951) (1,984)
Amortization of debt discounts and financing costs 1,709 1,340
Accretion of finance lease liability 102 11
Straight-line rent adjustments, net (2,180) (1,738)
Provision for estimated credit losses 507 290
Gain on sale of investment properties 0 (90,909)
Stock-based compensation, net 5,613 5,484
Changes in operating assets and liabilities:    
Accounts and rents receivable (491) 709
Deferred costs and other assets, net (1,643) (3,179)
Accounts payable and accrued expenses (5,235) (5,055)
Other liabilities (1,885) (189)
Net cash provided by operating activities 74,144 68,866
Cash flows from investing activities:    
Purchase of investment properties (250,272) (97,402)
Capital investments and leasing costs (14,010) (18,104)
Sale of investment properties, net 0 299,422
Other investing activities, net 73 1,291
Net cash (used in) provided by investing activities (264,209) 185,207
Cash flows from financing activities:    
Payment of tax withholdings for stock-based compensation (5,570) (2,420)
Proceeds from sale of common stock under ESPP 187 210
Payment of common stock offering costs (40) 0
Distributions to stockholders (37,934) (35,950)
Proceeds from revolving credit facility 230,000 13,000
Repayments of revolving credit facility (210,000) (13,000)
Proceeds from senior notes 250,000 0
Payoffs of mortgage debt 0 (13,000)
Payment of mortgage principal (384) (95)
Payment of financing costs (1,808) 0
Net cash provided by (used in) financing activities 224,451 (51,255)
Net increase in cash, cash equivalents, and restricted cash 34,386 202,818
Cash, cash equivalents, and restricted cash at the beginning of the period 40,518 91,221
Cash, cash equivalents, and restricted cash at the end of the period 74,904 294,039
Cash flow disclosure, including non-cash activities:    
Cash paid for interest, net of capitalized interest 18,962 15,362
Cash paid for income taxes, net of refunds 705 675
Distributions payable to stockholders 19,492 18,447
Accrued capital investments and leasing costs 5,346 5,240
Capitalized costs placed in service 3,720 11,301
Gross issuance of shares for stock-based compensation 14,082 6,975
Finance lease right of use assets obtained in exchange for lease liabilities 0 10,973
Reconciliation to gross acquisition price:    
Purchase of investment properties 250,272 97,402
Assumption of mortgage principal 0 7,981
Capitalized acquisition costs (1,409) (1,050)
Closing credits 4,750 802
Prorations and other changes in cash outflow, net 1,963 240
Gross acquisition price of investment properties 255,576 105,375
Reconciliation to gross disposition price:    
Sale of investment properties, net 0 299,422
Credits and other changes in cash inflow, net 0 6,578
Gross disposition price of investment properties $ 0 $ 306,000