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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Real estate properties    
Land $ 1,143,468 $ 1,343,265
Buildings and improvements 9,707,066 10,881,373
Lease intangibles 664,867 836,302
Personal property 9,909 12,718
Investment in financing receivables, net 123,671 122,602
Financing lease right-of-use assets 77,343 82,209
Construction in progress 31,978 60,727
Land held for development 52,408 59,871
Total real estate investments 11,810,710 13,399,067
Less accumulated depreciation (2,483,656) (2,226,853)
Total real estate investments, net 9,327,054 11,172,214
Cash and cash equivalents 68,916 25,699
Assets held for sale, net 12,897 8,834
Operating lease right-of-use assets 261,438 275,975
Investments in unconsolidated joint ventures 473,122 311,511
Goodwill 0 250,530
Other assets, net 507,496 592,368
Total assets 10,650,923 12,637,131
Liabilities    
Notes and bonds payable 4,662,771 4,994,859
Accounts payable and accrued liabilities 222,510 211,994
Liabilities of properties held for sale 1,283 295
Operating lease liabilities 224,499 229,714
Financing lease liabilities 72,346 74,503
Other liabilities 161,640 202,984
Total liabilities 5,345,049 5,714,349
Commitments and contingencies (See Footnote 15)
Redeemable non-controlling interests 4,778 3,868
Stockholders' equity    
Preferred stock, $0.01 par value; 200,000 shares authorized; none issued and outstanding 0 0
Common stock, $0.01 par value; 1,000,000 shares authorized; 350,532 and 380,964 shares issued and outstanding at December 31, 2024 and 2023, respectively. 3,505 3,810
Additional paid-in capital 9,118,229 9,602,592
Accumulated other comprehensive loss (1,168) (10,741)
Cumulative net income attributable to common stockholders 374,309 1,028,794
Cumulative dividends (4,260,014) (3,801,793)
Total stockholders’ equity 5,234,861 6,822,662
Non-controlling interest 66,235 96,252
Total equity 5,301,096 6,918,914
Total liabilities, redeemable non-controlling interests, and stockholders' equity $ 10,650,923 $ 12,637,131