XML 56 R3.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
Dec. 31, 2013
Real Estate:    
Land $ 344,324us-gaap_Land $ 342,944us-gaap_Land
Buildings and improvements 246,112us-gaap_InvestmentBuildingAndBuildingImprovements 196,607us-gaap_InvestmentBuildingAndBuildingImprovements
Real estate held for sale, gross 590,436us-gaap_RealEstateInvestmentPropertyAtCost 539,551us-gaap_RealEstateInvestmentPropertyAtCost
Less - accumulated depreciation and amortization (99,510)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation (95,712)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation
Real estate held for use, net 490,926us-gaap_RentalProperties 443,839us-gaap_RentalProperties
Real estate held for sale, net 4,343us-gaap_RealEstateHeldforsale 22,984us-gaap_RealEstateHeldforsale
Real estate, net 495,269us-gaap_RealEstateInvestmentPropertyNet 466,823us-gaap_RealEstateInvestmentPropertyNet
Net investment in direct financing leases 95,764us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeases 97,147us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeases
Deferred rent receivable (net of allowance of $7,009 at December 31, 2014 and $4,775 at December 31, 2013) 21,049us-gaap_DeferredRentReceivablesNet 16,893us-gaap_DeferredRentReceivablesNet
Cash and cash equivalents 3,111us-gaap_CashAndCashEquivalentsAtCarryingValue 12,035us-gaap_CashAndCashEquivalentsAtCarryingValue
Restricted cash 713us-gaap_RestrictedCashAndCashEquivalents 1,000us-gaap_RestrictedCashAndCashEquivalents
Notes and mortgages receivable, net 34,226us-gaap_NotesReceivableNet 28,793us-gaap_NotesReceivableNet
Accounts receivable (net of allowance of $4,160 at December 31, 2014 and $3,248 at December 31, 2013) 4,395us-gaap_AccountsReceivableNet 5,106us-gaap_AccountsReceivableNet
Prepaid expenses and other assets 32,974us-gaap_PrepaidExpenseAndOtherAssets 54,605us-gaap_PrepaidExpenseAndOtherAssets
Total assets 687,501us-gaap_Assets 682,402us-gaap_Assets
LIABILITIES AND SHAREHOLDERS' EQUITY:    
Borrowings under credit line 25,000us-gaap_LineOfCredit 58,000us-gaap_LineOfCredit
Term loan 100,000us-gaap_LoansPayable 100,000us-gaap_LoansPayable
Mortgage payable, net 344us-gaap_SecuredDebt  
Environmental remediation obligations 91,566us-gaap_AccrualForEnvironmentalLossContingencies 43,472us-gaap_AccrualForEnvironmentalLossContingencies
Dividends payable 12,150us-gaap_DividendsPayableCurrentAndNoncurrent 8,423us-gaap_DividendsPayableCurrentAndNoncurrent
Accounts payable and accrued liabilities 51,417us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent 57,416us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Total liabilities 280,477us-gaap_Liabilities 267,311us-gaap_Liabilities
Commitments and contingencies (notes 2, 3, 4 and 5)      
Shareholders' equity:    
Common stock, par value $.01 per share; authorized 50,000,000 shares; issued 33,417,203 at December 31, 2014 and 33,397,260 at December 31, 2013 334us-gaap_CommonStockValue 334us-gaap_CommonStockValue
Paid-in capital 463,314us-gaap_AdditionalPaidInCapitalCommonStock 462,397us-gaap_AdditionalPaidInCapitalCommonStock
Dividends paid in excess of earnings (56,624)us-gaap_AccumulatedDistributionsInExcessOfNetIncome (47,640)us-gaap_AccumulatedDistributionsInExcessOfNetIncome
Total shareholders' equity 407,024us-gaap_StockholdersEquity 415,091us-gaap_StockholdersEquity
Total liabilities and shareholders' equity $ 687,501us-gaap_LiabilitiesAndStockholdersEquity $ 682,402us-gaap_LiabilitiesAndStockholdersEquity