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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Real estate:    
Land $ 629,602 $ 589,497
Buildings and improvements 403,900 379,785
Construction in progress 3,333 1,682
Total real estate held for use, gross 1,036,835 970,964
Less accumulated depreciation and amortization (145,756) (133,353)
Real estate held for use, net 891,079 837,611
Real estate held for sale, net 360  
Real estate, net 891,439 837,611
Investment in direct financing leases, net 87,376 89,587
Notes and mortgages receivable 33,072 32,366
Cash and cash equivalents 18,563 19,992
Restricted cash 1,442 821
Deferred rent receivable 36,824 33,610
Accounts receivable, net of allowance of $2,114 and $1,840, respectively 2,925 3,712
Prepaid expenses and other assets 58,606 55,055
Total assets 1,130,247 1,072,754
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Borrowings under credit agreement, net 97,021 154,502
Senior unsecured notes, net 324,380 224,656
Environmental remediation obligations 60,905 63,565
Dividends payable 13,145 12,846
Accounts payable and accrued liabilities 62,604 63,490
Total liabilities 558,055 519,059
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.01 par value; 20,000,000 and 10,000,000 shares authorized, respectively; unissued
Common stock, $0.01 par value; 100,000,000 and 60,000,000 shares authorized, respectively; 40,521,725 and 39,696,110 shares issued and outstanding, respectively 405 397
Additional paid-in capital 627,905 604,872
Dividends paid in excess of earnings (56,118) (51,574)
Total stockholders’ equity 572,192 553,695
Total liabilities and stockholders’ equity $ 1,130,247 $ 1,072,754