ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

12 Months Ended

Dec. 31, 2016

Payables and Accruals [Abstract]

Summary of Accounts Payable and Accrued Expenses

A summary of the Company’s Accounts payable and accrued expenses follows:

	December 31,
	2016		2015
	(In thousands)
Property taxes payable	$	14,186	16,055
Development costs payable	9,844		6,215
Property capital expenditures payable	2,304		2,818
Interest payable	3,822		3,704
Dividends payable on unvested restricted stock	1,530		2,157
Book overdraft (1)	14,452		7,215
Other payables and accrued expenses	6,563		6,017
Total Accounts payable and accrued expenses	$	52,701	44,181

⁽¹⁾ Represents unfunded outstanding checks for which the bank has not advanced cash to the Company. See Note 1(p).