SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables present financial information by segment for the years ended December 31, 2017 and 2016.

For the Year Ended December 31, 2017

(In thousands)	Real Estate Operations			Restaurant Operations			Intercompany			Total
Revenues:
Rental revenue	$	113,937		$	—		$	—		$	113,937
Intercompany rental revenue	395			—			(395		)	—
Restaurant revenues	—			19,272			—			19,272
Total revenues	114,332			19,272			(395		)	133,209
Operating expenses:
General and administrative	12,259			—			—			12,259
Depreciation and amortization	21,237			574			—			21,811
Restaurant expenses	—			19,047			(395		)	18,652
Interest expense	19,469			—			—			19,469
Total operating expenses	52,965			19,621			(395		)	72,191
Other income	324			—			—			324
Realized gain on sale, net	10,532			—			—			10,532
Income before income tax	72,223			(349		)	—			71,874
Income tax (expense) benefit	(77		)	95			—			18
Net income	72,146			(254		)	—			71,892
Net income attributable to noncontrolling interest	(498		)	—			—			(498		)
Net Income Available to Common Shareholders	$	71,648		$	(254	)	$	—		$	71,394

For the Year Ended December 31, 2016

(In thousands)	Real Estate Operations			Restaurant Operations			Intercompany			Total
Revenues:
Rental revenue	$	105,624		$	—		$	—		$	105,624
Intercompany rental revenue	389			—			(389		)	—
Restaurant revenues	—			18,394			—			18,394
Total revenues	106,013			18,394			(389		)	124,018
Operating expenses:
General and administrative	10,977			—			—			10,977
Depreciation and amortization	19,933			644			—			20,577
Restaurant expenses	—			18,242			(389		)	17,853
Interest expense	14,828			—			—			14,828
Total operating expenses	45,738			18,886			(389		)	64,235
Other income	97			—			—			97
Realized gain on sale, net	16,623			—			—			16,623
Income before income tax	76,995			(492		)	—			76,503
Income tax (expense) benefit	80,409			(62		)	—			80,347
Net income	157,404			(554		)	—			156,850
Net income attributable to noncontrolling interest	(41		)	—			—			(41		)
Net Income Available to Common Shareholders	$	157,363		$	(554	)	$	—		$	156,809

For the Year Ended December 31, 2015

(In thousands)	Real Estate Operations			Restaurant Operations			Intercompany			Total
Revenues:
Rental revenue	$	15,134		$	—		$	—		$	15,134
Intercompany rental revenue	65			—			(65		)	—
Restaurant revenues	—			18,322			—			18,322
Total revenues	15,199			18,322			(65		)	33,456
Operating expenses:
General and administrative	1,856			—			—			1,856
Depreciation and amortization	2,953			805			—			3,758
Restaurant expenses	—			17,061			(65		)	16,996
Interest expense	2,203			—			—			2,203
Total operating expenses	7,012			17,866			(65		)	24,813
Other income	—			—			—			—
Realized gain on sale, net	—			—			—			—
Income before income taxes	8,187			456			—			8,643
Income tax (expense) benefit	(2,942		)	(2		)	—			(2,944		)
Net Income	$	5,245		$	454		$	—		$	5,699

The following table presents supplemental information by segment at December 31, 2017 and 2016.

December 31, 2017

(In thousands)	Real Estate Operations			Restaurant Operations			Total
Total real estate investments	$	1,548,259		$	16,696		$	1,564,955
Accumulated depreciation	(592,293		)	(6,553		)	(598,846		)
Total real estate investments, net	955,966			10,143			966,109
Cash and cash equivalents	63,229			1,237			64,466
Total assets	1,056,500			12,159			1,068,659
Long-term debt, net of deferred financing costs	515,539			—			515,539
Deferred tax liability	—			—			—

December 31, 2016

(In thousands)	Real Estate Operations			Restaurant Operations			Total
Total real estate investments	$	1,460,967		$	16,598		$	1,477,565
Accumulated depreciation	(577,392		)	(5,915		)	(583,307		)
Total real estate investments, net	883,575			10,683			894,258
Cash and cash equivalents	24,412			2,231			26,643
Total assets	923,747			13,404			937,151
Long-term debt, net of deferred financing costs	438,895			—			438,895
Deferred tax liability	—			196			196