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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Real estate:    
Land $ 712,020 $ 707,613
Buildings and improvements 552,796 537,272
Construction in progress 750 734
Total real estate held for use, gross 1,265,566 1,245,619
Less accumulated depreciation and amortization (193,632) (186,964)
Real estate held for use, net 1,071,934 1,058,655
Real estate held for sale, net   872
Real estate, net 1,071,934 1,059,527
Investment in direct financing leases, net 76,094 77,238
Notes and mortgages receivable 19,140 11,280
Cash and cash equivalents 31,831 55,075
Restricted cash 1,979 1,979
Deferred rent receivable 44,890 44,155
Accounts receivable 2,539 3,811
Right-of-use assets - operating 23,462 24,319
Right-of-use assets - finance 707 763
Prepaid expenses and other assets, net 69,896 71,365
Total assets 1,342,472 1,349,512
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Borrowings under credit agreement   25,000
Senior unsecured notes, net 523,868 523,828
Environmental remediation obligations 48,722 48,084
Dividends payable 17,690 17,332
Lease liability - operating 24,391 25,045
Lease liability - finance 3,367 3,541
Accounts payable and accrued liabilities 43,891 47,081
Total liabilities 661,929 689,911
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; 44,366,488 and 43,605,759 shares issued and outstanding, respectively 444 436
Additional paid-in capital 743,305 722,608
Dividends paid in excess of earnings (63,206) (63,443)
Total stockholders’ equity 680,543 659,601
Total liabilities and stockholders’ equity $ 1,342,472 $ 1,349,512