Consolidated Statements of Income (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2026 |
Sep. 30, 2025 |
Sep. 30, 2026 |
Sep. 30, 2025 |
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| Revenues | ||||
| Rental (including tenant reimbursements) | $ 64,743,000 | $ 64,292,000 | $ 196,553,000 | $ 198,855,000 |
| Other | 177,000 | 393,000 | 678,000 | 443,000 |
| Total revenues | 64,920,000 | 64,685,000 | 197,231,000 | 199,298,000 |
| Expenses | ||||
| Property expenses | 6,939,000 | 7,951,000 | 21,711,000 | 22,197,000 |
| General and administrative expense | 8,458,000 | 8,681,000 | 26,526,000 | 25,768,000 |
| Depreciation and amortization expense | 19,572,000 | 18,639,000 | 56,955,000 | 55,530,000 |
| Impairment loss on real estate | 567,000 | 0 | 567,000 | 3,527,000 |
| Total expenses | 35,536,000 | 35,271,000 | 105,759,000 | 107,022,000 |
| Gain (loss) on sale of real estate, net | 0 | 0 | 12,269,000 | 0 |
| Income from operations | 29,384,000 | 29,414,000 | 103,741,000 | 92,276,000 |
| Interest and other income | 14,331,000 | 4,416,000 | 31,414,000 | 7,599,000 |
| Interest expense | (11,820,000) | (4,525,000) | (26,599,000) | (13,469,000) |
| Net income | 31,895,000 | 29,305,000 | 108,556,000 | 86,406,000 |
| Preferred stock dividends | (3,187,000) | (1,017,000) | (9,028,000) | (2,676,000) |
| Net income attributable to common stockholders | $ 28,708,000 | $ 28,288,000 | $ 99,528,000 | $ 83,730,000 |
| Net income attributable to common stockholders per share (Note 10) | ||||
| Basic (in dollars per share) | $ 1.01 | $ 0.99 | $ 3.45 | $ 2.91 |
| Diluted (in dollars per share) | $ 0.99 | $ 0.97 | $ 3.38 | $ 2.87 |
| Weighted-average shares outstanding | ||||
| Basic (in shares) | 27,356,738 | 27,912,881 | 27,928,270 | 28,036,179 |
| Diluted (in shares) | 27,961,629 | 28,303,600 | 28,465,209 | 28,402,063 |
| X | ||||||||||
- Definition Net Income (Loss) Attributable To Common Stockholders, Before Participating Securities Allocation No definition available.
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| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The charge against earnings in the period to reduce the carrying amount of real property to fair value. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of lease cost recognized by lessee for lease contract. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of operating lease income from lease payments and variable lease payments paid and payable to lessor. Includes, but is not limited to, variable lease payments not included in measurement of lease receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue that is not accounted for under Topic 606, classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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