v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ 25,966 $ 108,760
Adjustments to reconcile to net cash provided by operating activities:    
Depreciation and amortization 114,776 94,086
Amortization of market-lease intangibles and inducements, net (6,014) (3,170)
Amortization of debt discounts and financing costs 2,632 2,076
Accretion of finance lease liability 153 60
Straight-line rent adjustments, net (3,802) (2,859)
Provision for estimated credit losses 752 408
Gain on sale of investment properties (17,379) (90,961)
Stock-based compensation, net 8,449 8,195
Changes in operating assets and liabilities:    
Accounts and rents receivable (4,492) (2,596)
Deferred costs and other assets, net (1,681) (3,558)
Accounts payable and accrued expenses 3,568 926
Other liabilities (1,476) 1,307
Net cash provided by operating activities 121,452 112,674
Cash flows from investing activities:    
Purchase of investment properties (284,101) (323,308)
Capital investments and leasing costs (25,655) (30,503)
Sale of investment properties, net 34,830 299,504
Other investing activities, net (345) (40)
Net cash used in investing activities (275,271) (54,347)
Cash flows from financing activities:    
Payment of tax withholdings for stock-based compensation (5,614) (2,442)
Proceeds from sale of common stock under ESPP 494 488
Payment of common stock offering costs (42) (9)
Distributions to stockholders (57,426) (54,397)
Proceeds from term loan 0 400,000
Repayment of term loan 0 (400,000)
Proceeds from revolving credit facility 230,000 13,000
Repayments of revolving credit facility (265,000) (13,000)
Proceeds from senior notes 250,000 0
Payoffs of mortgage debt 0 (13,000)
Payment of mortgage principal (577) (219)
Payment of financing costs (1,830) (3,603)
Net cash provided by (used in) financing activities 150,005 (73,182)
Net decrease in cash, cash equivalents, and restricted cash (3,814) (14,855)
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 36,704 76,366
Cash flow disclosure, including non-cash activities:    
Cash paid for interest, net of capitalized interest 31,341 26,720
Cash paid for income taxes, net of refunds 705 675
Distributions payable to stockholders 19,494 18,450
Accrued capital investments and leasing costs 11,237 4,900
Capitalized costs placed in service 5,847 13,312
Gross issuance of shares for stock-based compensation 14,565 7,351
Finance lease right of use assets obtained in exchange for lease liabilities 0 10,973
Reconciliation to gross acquisition price:    
Purchase of investment properties 284,101 323,308
Assumption of mortgage principal 0 30,262
Capitalized acquisition costs (1,527) (2,336)
Closing credits 4,823 2,891
Prorations and other changes in cash outflow, net 2,179 1,450
Gross acquisition price of investment properties 289,576 355,575
Reconciliation to gross disposition price:    
Sale of investment properties, net 34,830 299,504
Credits and other changes in cash inflow, net 1,170 6,725
Gross disposition price of investment properties $ 36,000 $ 306,229