v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 74,820 $ 52,148
Adjustments to reconcile net earnings to net cash flow provided by operating activities:    
Depreciation and amortization expense 51,352 45,998
Impairments 4,350 2,271
Gains on dispositions of real estate (11,882) (2,224)
Interest on lease receivable - sales-type lease (35)  
Deferred rent receivable (7,413) (6,906)
Amortization of intangible market lease assets and liabilities and lease incentives 875 391
Amortization of investment in direct financing leases 4,066 3,436
Amortization of debt issuance costs 1,206 2,131
Accretion expense 223 238
Stock-based compensation expense 4,256 5,192
Changes in assets and liabilities:    
Accounts receivable (789) 543
Prepaid expenses and other assets (5,351) (6,473)
Environmental remediation obligations (9,733) (6,696)
Accounts payable and accrued liabilities 57 3,898
Net cash flow provided by operating activities 106,002 93,947
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property acquisitions (443,248) (139,981)
Capital expenditures (226) (338)
Addition to construction in progress (88) 2
Proceeds from dispositions of real estate 23,588 5,091
Deposits for property acquisitions 41 5,978
Issuance of notes and mortgages receivable (23,344) (7,367)
Collection of notes and mortgages receivable 9,310 15,949
Net cash flow used in investing activities (433,967) (120,666)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings from Credit Facility 513,900 460,000
Repayments of Credit Facility (563,900) (352,500)
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 (101) (124)
Payments of cash dividends (90,949) (80,739)
Payments of debt issuance costs (1,652) (4,379)
Security deposits received (refunded) (612) 446
Payments in settlement of restricted stock units (3,120) (1,165)
Proceeds from issuance of common stock, net - Equity Offering 128,247 65,273
Proceeds from issuance of common stock, net - ATM Program 95,992 10,899
Net cash flow provided by financing activities 327,805 22,711
Change in cash, cash equivalents and restricted cash (160) (4,008)
Cash, cash equivalents and restricted cash at beginning of period 12,780 13,617
Cash, cash equivalents and restricted cash at end of period 12,620 9,609
Supplemental disclosures of cash flow information Cash paid during the period for:    
Interest 33,794 31,535
Income taxes 613 536
Environmental remediation obligations 1,892 2,315
Non-cash transactions    
Dividends declared but not yet paid 33,341 27,934
Right of use asset 2,601  
Lease receivable - sales-type lease 6,307  
Issuance of notes and mortgages receivable related to property dispositions $ 688 $ 225