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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 11, 2024
Mar. 11, 2024
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:            
Rental revenue     $ 58,539 $ 52,843 $ 117,112 $ 105,040
Restaurant revenue     7,940 7,845 15,834 15,600
Total revenues     66,479 60,688 132,946 120,640
Operating expenses:            
General and administrative     6,004 5,600 12,217 11,655
Depreciation and amortization     13,345 11,817 26,812 23,993
Total operating expenses     29,517 27,290 59,842 55,983
Interest expense     (12,324) (10,051) (24,605) (19,969)
Other income     150 226 390 526
Realized gain on sale, net     0 173 0 1,735
Income tax expense     (86) (91) (113) (139)
Net income     24,702 23,655 48,776 46,810
Net income attributable to noncontrolling interest     (30) (30) (60) (61)
Net Income Available to Common Shareholders     $ 24,672 $ 23,625 $ 48,716 $ 46,749
Basic net income per share (in usd per share)     $ 0.27 $ 0.27 $ 0.53 $ 0.54
Diluted net income per share (in usd per share)     $ 0.27 $ 0.27 $ 0.53 $ 0.54
Weighted average number of common shares outstanding:            
Basic (in shares)     91,807,764 87,366,335 91,763,619 86,604,202
Diluted (in shares)     91,994,062 87,556,011 91,976,282 86,825,150
Dividends declared per common share (in usd per share) $ 0.345 $ 0.345 $ 0.345 $ 0.34 $ 0.69 $ 0.68
Property expenses            
Operating expenses:            
Expenses     $ 2,836 $ 2,676 $ 5,917 $ 5,843
Restaurant expenses            
Revenues:            
Restaurant revenue     7,940 7,845 15,834 15,600
Operating expenses:            
Expenses     $ 7,332 $ 7,197 $ 14,896 $ 14,492