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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 71,982,000 $ 80,867,000 $ 46,359,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization (including below-market ground leases) 55,394,000 52,819,000 51,866,000
Amortization of deferred financing costs 2,052,000 1,950,000 2,003,000
Loss on extinguishment of debt 10,827,000 0 0
Amortization of stock-based compensation 10,832,000 3,790,000 4,104,000
Straight-line rental income (32,000) (77,000) (1,385,000)
Adjustment for collectibility of rental income 0 0 11,774,000
Noncash interest income (155,000) 0 (797,000)
Loss (gain) on sale of real estate 77,000 37,000 (1,777,000)
Interest income distribution from other real estate investment 0 1,346,000 463,000
Impairment of real estate investments 0 0 16,692,000
Provision for loan losses 0 0 1,076,000
Change in operating assets and liabilities:      
Accounts and other receivables (562,000) 825,000 (6,283,000)
Prepaid expenses and other assets, net 399,000 387,000 (495,000)
Accounts payable, accrued liabilities and deferred rent liabilities 6,057,000 3,791,000 2,695,000
Net cash provided by operating activities 156,871,000 145,735,000 126,295,000
Cash flows from investing activities:      
Acquisitions of real estate, net of deposits applied (192,718,000) (89,650,000) (321,458,000)
Purchases of equipment, furniture and fixtures and improvements to real estate (6,013,000) (8,297,000) (6,289,000)
Investment in real estate mortgage and other loans receivable (1,253,000) (30,498,000) (18,246,000)
Principal payments received on real estate mortgage and other loans receivable 393,000 80,928,000 24,283,000
Repayment of other real estate investment 0 2,327,000 2,204,000
Escrow deposits for potential acquisitions of real estate 0 (3,000,000) 0
Net proceeds from sales of real estate 6,958,000 6,608,000 3,499,000
Net cash used in investing activities (192,633,000) (41,582,000) (316,007,000)
Cash flows from financing activities:      
Proceeds from (costs paid for) the issuance of common stock, net 22,946,000   195,924,000
Proceeds from (costs paid for) the issuance of common stock, net   (404,000)  
Proceeds from the issuance of senior unsecured notes payable 400,000,000 0 0
Proceeds from the issuance of senior unsecured term loan 0 0 200,000,000
Borrowings under unsecured revolving credit facility 220,000,000 65,000,000 243,000,000
Payments on senior unsecured notes payable (300,000,000) 0 0
Payments on senior unsecured term loan 0 0 (100,000,000)
Payments on unsecured revolving credit facility (190,000,000) (75,000,000) (278,000,000)
Payments on debt extinguishment and deferred financing costs (14,095,000) 0 (4,534,000)
Net-settle adjustment on restricted stock (1,331,000) (1,996,000) (2,524,000)
Dividends paid on common stock (100,782,000) (93,161,000) (80,619,000)
Net cash provided by (used in) financing activities 36,738,000 (105,561,000) 173,247,000
Net increase (decrease) in cash and cash equivalents 976,000 (1,408,000) (16,465,000)
Cash and cash equivalents as of the beginning of period 18,919,000 20,327,000 36,792,000
Cash and cash equivalents as of the end of period 19,895,000 18,919,000 20,327,000
Supplemental disclosures of cash flow information:      
Interest paid 22,838,000 21,691,000 26,005,000
Supplemental schedule of noncash investing and financing activities:      
Increase in dividends payable 2,033,000 2,568,000 3,900,000
Right-of-use asset obtained in exchange for new operating lease obligation 0 599,000 1,010,000
Transfer of pre-acquisition costs to acquired assets 358,000 168,000 242,000
Sale of real estate settled with notes receivable $ 0 $ 32,400,000 $ 27,500,000