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Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Real Estate:    
Land $ 802,010,000 $ 772,088,000
Buildings and improvements 707,352,000 632,074,000
Investment in direct financing leases, net 66,185,000 71,647,000
Construction in progress 578,000 693,000
Real estate held for use 1,576,125,000 1,476,502,000
Less accumulated depreciation and amortization (232,812,000) (209,040,000)
Real estate held for use, net 1,343,313,000 1,267,462,000
Real estate held for sale, net 3,757,000 3,621,000
Real estate, net 1,347,070,000 1,271,083,000
Notes and mortgages receivable 34,313,000 14,699,000
Cash and cash equivalents 8,713,000 24,738,000
Restricted cash 2,536,000 1,723,000
Deferred rent receivable 50,391,000 46,933,000
Accounts receivable 4,247,000 3,538,000
Right-of-use assets - operating 18,193,000 21,092,000
Right-of-use assets - finance 277,000 379,000
Prepaid expenses and other assets 96,555,000 82,763,000
Total assets 1,562,295,000 1,466,948,000
LIABILITIES AND STOCKHOLDERS’ EQUITY:    
Borrowings under credit agreement 70,000,000 60,000,000
Senior unsecured notes, net 623,492,000 523,850,000
Environmental remediation obligations 23,155,000 47,597,000
Dividends payable 20,576,000 19,467,000
Lease liability - operating 19,959,000 22,980,000
Lease liability - finance 1,518,000 2,005,000
Accounts payable and accrued liabilities 43,745,000 45,941,000
Total liabilities 802,445,000 721,840,000
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; 46,734,790 and 46,715,734 shares issued and outstanding, respectively 467,000 467,000
Additional paid-in capital 822,340,000 818,209,000
Dividends paid in excess of earnings (62,957,000) (73,568,000)
Total stockholders’ equity 759,850,000 745,108,000
Total liabilities and stockholders’ equity $ 1,562,295,000 $ 1,466,948,000