v3.26.3
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Real Estate:    
Land $ 1,252,726 $ 1,050,611
Buildings and improvements 1,289,457 1,141,467
Lease intangible assets 267,243 209,184
Investment in direct financing leases, net 34,788 38,853
Construction in progress 144 73
Real estate held for use 2,844,358 2,440,188
Less accumulated depreciation and amortization (441,455) (405,908)
Real estate held for use, net 2,402,903 2,034,280
Real estate held for sale, net 1,057 1,896
Real estate, net 2,403,960 2,036,176
Notes and mortgages receivable 34,270 19,466
Cash and cash equivalents 8,834 8,361
Restricted cash 3,786 4,419
Deferred rent receivable 77,558 70,325
Accounts receivable 3,155 2,366
Right-of-use assets - operating 10,819 10,190
Right-of-use assets - finance 25 60
Prepaid expenses and other assets 29,741 22,005
Total assets 2,572,148 2,173,368
LIABILITIES AND STOCKHOLDERS' EQUITY:    
Credit Facility 200,000 250,000
Senior Unsecured Notes, net 997,047 748,351
Environmental remediation obligations 8,226 15,928
Dividends payable 33,341 29,828
Lease liability - operating 11,766 11,300
Lease liability - finance 72 174
Accounts payable and accrued liabilities 43,834 45,658
Total liabilities 1,294,286 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; 67,123,296 and 59,815,921 shares issued and outstanding, respectively 671 598
Accumulated other comprehensive income (loss) 0 0
Additional paid-in capital 1,454,686 1,229,340
Dividends paid in excess of earnings (177,495) (157,809)
Total stockholders’ equity 1,277,862 1,072,129
Total liabilities and stockholders’ equity $ 2,572,148 $ 2,173,368