v3.26.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ 189,483 $ 194,074
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 241,388 224,336
Loss on impairment 0 888
Gain on involuntary conversion 0 (1,855)
Non-cash portion of interest expense 4,166 4,044
Amortization of above and below market leases, net (1,148) (1,894)
Straight-line rent adjustments, net (18,317) (15,244)
Debt extinguishment and modification expenses 0 30
Gain on the sales of rental property, net (47,689) (57,801)
Non-cash compensation expense 11,076 9,581
Change in assets and liabilities:    
Tenant accounts receivable 6,285 7,062
Prepaid expenses and other assets (35,018) (28,199)
Accounts payable, accrued expenses and other liabilities 25,530 25,007
Tenant prepaid rent and security deposits 119 (1,108)
Total adjustments 186,392 164,847
Net cash provided by operating activities 375,875 358,921
Cash flows from investing activities:    
Acquisitions of land and buildings and improvements (113,663) (143,893)
Acquisitions of land and buildings and improvements (424,461) (150,415)
Additions of other assets (2,134) 0
Proceeds from sales of rental property, net 117,260 78,319
Acquisition deposits, net (1,200) (30)
Acquisitions of deferred leasing intangibles (70,774) (20,838)
Net cash used in investing activities (494,972) (236,857)
Cash flows from financing activities:    
Proceeds from unsecured credit facility 1,199,000 873,000
Repayment of unsecured credit facility (998,000) (1,172,000)
Proceeds from unsecured term loans 16,875 55,000
Repayment of unsecured term loans (16,875) (55,000)
Proceeds from unsecured notes 0 550,000
Repayment of unsecured notes (50,000) (175,000)
Repayment of mortgage note (172) (166)
Payment of loan fees and costs (2,090) (4,747)
Proceeds from sales of common stock, net 59,308 (595)
Dividends and distributions (176,296) (212,999)
Income taxes paid on vested equity compensation (644) (649)
Contributions from noncontrolling interest in joint ventures 0 2,128
Net Cash Provided by (Used in) Financing Activities, Total 31,106 (141,028)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total (87,991) (18,964)
Cash and cash equivalents and restricted cash—beginning of period 100,883 37,393
Cash and cash equivalents and restricted cash—end of period 12,892 18,429
Supplemental disclosure:    
Cash paid for interest, net of amounts capitalized of $1,975 and $2,605 for 2026 and 2025, respectively 89,865 76,375
Supplemental schedule of non-cash investing and financing activities    
Acquisitions of land and buildings and improvements (905) (342)
Acquisitions of deferred leasing intangibles (161) (58)
Additions to building and other capital improvements from involuntary conversion 0 (1,855)
Change in additions of land, building, and improvements included in accounts payable, accrued expenses and other liabilities 615 (1,493)
Additions to building and other capital improvements from non-cash compensation (359) (203)
Additions of other assets (23) 0
Change in loan fees, costs, and offering costs included in accounts payable, accrued expenses and other liabilities 14 (452)
Dividends and distributions payable $ 76,241 $ 23,669