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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Rental revenue $ 59,288 $ 57,243 $ 176,400 $ 162,267
Restaurant revenue 7,503 7,596 23,337 23,196
Total revenues 66,791 64,839 199,737 185,463
Operating expenses:        
General and administrative 5,847 5,498 18,064 17,153
Depreciation and amortization 13,606 13,418 40,418 37,411
Total operating expenses 29,096 29,061 88,938 85,027
Interest expense (12,324) (12,276) (36,929) (32,245)
Other income 331 283 721 809
Realized gain on sale, net 0 318 0 2,053
Income tax (expense) benefit (90) 89 (203) (50)
Net income 25,612 24,192 74,388 71,003
Net income attributable to noncontrolling interest (31) (31) (91) (92)
Net Income Available to Common Shareholders $ 25,581 $ 24,161 $ 74,297 $ 70,911
Basic net income per share (in usd per share) $ 0.27 $ 0.27 $ 0.8 $ 0.81
Diluted net income per share (in usd per share) $ 0.27 $ 0.27 $ 0.8 $ 0.8
Weighted average number of common shares outstanding:        
Basic (in shares) 94,390,037 90,366,861 92,645,482 87,872,205
Diluted (in shares) 94,877,995 90,595,872 93,061,647 88,105,134
Dividends declared per common share (in usd per share) $ 0.345 $ 0.34 $ 1.035 $ 1.02
Property expenses        
Operating expenses:        
Expenses $ 2,614 $ 2,916 $ 8,531 $ 8,742
Restaurant expenses        
Revenues:        
Restaurant revenue 7,503 7,596 23,337 23,196
Operating expenses:        
Expenses $ 7,029 $ 7,229 $ 21,925 $ 21,721