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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Real estate:    
Land $ 775,656 $ 772,088
Buildings and improvements 632,129 632,074
Investment in direct financing leases, net 70,376 71,647
Construction in progress 706 693
Real estate held for use 1,478,867 1,476,502
Less accumulated depreciation and amortization (215,457) (209,040)
Real estate held for use, net 1,263,410 1,267,462
Real estate held for sale, net 176 3,621
Real estate, net 1,263,586 1,271,083
Notes and mortgages receivable 15,873 14,699
Cash and cash equivalents 56,983 24,738
Restricted cash 1,708 1,723
Deferred rent receivable 47,636 46,933
Accounts receivable 2,797 3,538
Right-of-use assets - operating 20,431 21,092
Right-of-use assets - finance 353 379
Prepaid expenses and other assets, net 91,867 82,763
Total assets 1,501,234 1,466,948
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Borrowings under credit agreement   60,000
Senior unsecured notes, net 623,313 523,850
Environmental remediation obligations 46,957 47,597
Dividends payable 19,618 19,467
Lease liability - operating 22,313 22,980
Lease liability - finance 1,893 2,005
Accounts payable and accrued liabilities 42,323 45,941
Total liabilities 756,417 721,840
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; 46,732,381 and 46,715,734 shares issued and outstanding, respectively 467 467
Additional paid-in capital 818,787 818,209
Dividends paid in excess of earnings (74,437) (73,568)
Total stockholders’ equity 744,817 745,108
Total liabilities and stockholders’ equity $ 1,501,234 $ 1,466,948