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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Real Estate:    
Land $ 474,103 $ 475,784
Buildings and improvements 303,544 304,894
Construction in progress 266 955
Total real estate held for use, gross 777,913 781,633
Less accumulated depreciation and amortization (117,379) (107,109)
Real estate held for use, net 660,534 674,524
Real estate held for sale, net 839 1,339
Real estate, net 661,373 675,863
Investment in direct financing leases, net 92,636 94,098
Notes and mortgages receivable 33,311 48,455
Deferred rent receivable 28,792 25,450
Cash and cash equivalents 10,187 3,942
Restricted cash 215 409
Accounts receivable, net of allowance of $1,970 and $2,634, respectively 2,741 2,975
Prepaid expenses and other assets 41,816 45,726
Total assets 871,071 896,918
LIABILITIES AND SHAREHOLDERS' EQUITY:    
Borrowings under credit agreement, net 123,626 142,100
Senior unsecured notes, net 174,730 174,689
Mortgage payable, net   303
Environmental remediation obligations 78,525 84,345
Dividends payable 8,568 15,897
Accounts payable and accrued liabilities 65,787 73,023
Total liabilities 451,236 490,357
Commitments and contingencies (notes 3, 4, 5 and 6)
Shareholders' equity:    
Preferred stock, $0.01 par value; 20,000,000 shares authorized; unissued
Common stock, $0.01 par value; 50,000,000 shares authorized; 33,872,209 and 33,422,170 shares issued and outstanding, respectively 339 334
Additional paid-in capital 473,168 464,338
Dividends paid in excess of earnings (53,672) (58,111)
Total shareholders' equity 419,835 406,561
Total liabilities and shareholders' equity $ 871,071 $ 896,918