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Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Real estate:    
Land $ 821,752,000 $ 802,010,000
Buildings and improvements 752,046,000 707,352,000
Investment in direct financing leases, net 62,953,000 66,185,000
Construction in progress 550,000 578,000
Real estate held for use 1,637,301,000 1,576,125,000
Less accumulated depreciation and amortization (250,693,000) (232,812,000)
Real estate held for use, net 1,386,608,000 1,343,313,000
Real estate held for sale, net 2,554,000 3,757,000
Real estate, net 1,389,162,000 1,347,070,000
Notes and mortgages receivable 71,623,000 34,313,000
Cash and cash equivalents 8,867,000 8,713,000
Restricted cash 1,368,000 2,536,000
Deferred rent receivable 52,866,000 50,391,000
Accounts receivable 4,343,000 4,247,000
Right-of-use assets - operating 15,730,000 18,193,000
Right-of-use assets - finance 225,000 277,000
Prepaid expenses and other assets, net 92,970,000 96,555,000
Total assets 1,637,154,000 1,562,295,000
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Borrowings under credit agreement   70,000,000
Senior unsecured notes, net 673,281,000 623,492,000
Environmental remediation obligations 22,917,000 23,155,000
Dividends payable 22,262,000 20,576,000
Lease liability - operating 17,307,000 19,959,000
Lease liability - finance 728,000 1,518,000
Accounts payable and accrued liabilities, net 40,573,000 43,745,000
Total liabilities 777,068,000 802,445,000
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.01 par value; 20,000,000 shares authorized; unissued
Common stock, $0.01 par value; 100,000,000 shares authorized; 50,500,829 and 46,734,790 shares issued and outstanding, respectively 505,000 467,000
Additional paid-in capital 938,163,000 822,340,000
Dividends paid in excess of earnings (78,582,000) (62,957,000)
Total stockholders’ equity 860,086,000 759,850,000
Total liabilities and stockholders’ equity $ 1,637,154,000 $ 1,562,295,000