XML 37 R27.htm IDEA: XBRL DOCUMENT v3.23.3
Equity (Tables)
9 Months Ended
Sep. 30, 2023
Equity  
Schedule of consolidated VIEs

As of September 30, 2023, we have the following consolidated VIEs (in thousands):

Gross

Investment

Property

Consolidated

Non-Controlling

Year

Purpose

Type

State

Assets (1)

Interests

2023

Owned real estate

(2)

ILF/ALF/MC

OH

$

54,714

$

9,134

2023

Owned real estate

(3)

ALF/MC

NC

121,321

3,831

2022

Owned real estate

(4)

SNF

FL

76,712

14,325

2018

Owned real estate

ILF

OR

14,650

2,907

2018

Owned real estate and development

ALF/MC

OR

18,452

1,231

2017

Owned real estate and development

ILF/ALF/MC

WI

22,007

2,305

2017

Owned real estate

ALF/MC

SC

11,680

1,240

Total

$

319,536

$

34,973

(1)Includes the total real estate investments and excludes intangible assets.

(2)During the second quarter of 2023, we entered into a JV that purchased an ILF/ALF/MC in Ohio with a total of 242 units. For more information see Acquisitions above in Note 2.

(3)During the first quarter of 2023, we entered into a JV that purchased 11 ALF and MC with a total of 523 units. For more information regarding this transaction see Financing Receivable above in Note 2.

(4)During 2022, we entered into a JV that purchased three SNFs with a total of 299 beds. For more information regarding this transaction see Financing Receivable above in Note 2.
Schedule of cash dividends declared and paid

Distributions. We declared and paid the following cash dividends (in thousands):

Nine Months Ended September 30, 

2023

2022

Declared

Paid

Declared

Paid

Common Stock (1)

$

70,767

$

70,767

$

68,202

$

68,202

(1)Represents $0.19 per share per month for the nine months ended September 30, 2023 and 2022.
Schedule of restricted stock activity

The following table summarizes our restricted stock activity for the nine months ended September 30, 2023 and 2022:

Nine Months Ended September 30,

2023

2022

Outstanding, January 1

229,236

197,422

Granted

146,020

135,210

Vested

(115,551)

(103,396)

Cancelled

(1,085)

Outstanding, September 30

258,620

229,236

Schedule of restricted stock granted

No. of 

Price per

Year

Shares/Units

Share

Reward Type

Vesting Period

2023

127,960

$

37.16

Restricted stock

ratably over 3 years

86,867

$

37.16

Performance-based stock units

TSR targets (1)

15,060

$

31.54

Restricted stock

May 24,2024

3,000

$

35.45

Restricted stock

July 25, 2024

232,887

2022

122,865

$

33.94

Restricted stock

ratably over 3 years

86,332

$

33.94

Performance-based stock units

TSR targets (1)

12,345

$

38.48

Restricted stock

May 25, 2023

221,542

(1)Vesting is based on achieving certain total shareholder return (“TSR”) targets in 4 years with acceleration opportunity in 3 years.
Schedule of restricted common stock and performance-based stock unit scheduled to vest and remaining compensation expense At September 30, 2023, the remaining compensation expense to be recognized related to the future service period of unvested outstanding restricted common stock and performance-based stock units are as follows (in thousands):

Remaining

Compensation

Vesting Date

Expense

October - December 2023

$

2,132

2024

6,026

2025

3,238

2026

356

Total

$

11,752