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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Rental (including tenant reimbursements) $ 62,866 $ 79,253 $ 134,563 $ 154,167
Other 25 540 50 1,080
Total revenues 62,891 79,793 134,613 155,247
Expenses:        
Property expenses 6,867 6,863 14,246 13,572
General and administrative expense 8,626 9,661 17,087 19,223
Depreciation and amortization expense 18,500 17,473 36,891 34,623
Impairment loss on real estate 0 0 3,527 0
Total expenses 33,993 33,997 71,751 67,418
Gain (loss) on sale of real estate 0 (3,449) 0 (3,449)
Income from operations 28,898 42,347 62,862 84,380
Interest income 1,570 3,966 3,183 5,750
Interest expense (4,444) (4,320) (8,944) (8,709)
Net income 26,024 41,993 57,101 81,421
Preferred stock dividends (878) (338) (1,659) (676)
Net income attributable to common stockholders $ 25,146 $ 41,655 $ 55,442 $ 80,745
Net income attributable to common stockholders per share (Note 8):        
Basic (in dollars per share) $ 0.87 $ 1.45 $ 1.92 $ 2.82
Diluted (in dollars per share) $ 0.86 $ 1.44 $ 1.90 $ 2.79
Weighted-average shares outstanding:        
Basic (in shares) 27,924,092 28,250,843 28,098,850 28,197,930
Diluted (in shares) 28,317,693 28,572,138 28,452,111 28,527,419