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Condensed 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 income $ 70,270 $ 65,760 $ 139,136 $ 127,947
Resident fees and services 14,217 13,390 28,156 26,645
Interest income and other 6,175 5,820 12,666 11,890
Total revenues 90,662 84,970 179,958 166,482
Expenses:        
Depreciation 19,918 17,490 39,075 34,995
Interest 15,001 14,854 29,338 29,723
Senior housing operating expenses 10,396 10,437 21,249 20,751
Legal 1,095 165 2,521 400
Franchise, excise and other taxes 243 47 512 (139)
General and administrative 6,125 4,870 12,954 10,510
Proxy contest and related expenses 1,308 0 1,572 0
Taxes and insurance on leased properties 2,914 2,802 5,801 5,535
Loan and realty (gains) losses, net (1,393) 1,106 (1,407) 1,116
Total expenses 55,607 51,771 111,615 102,891
Gains on sales of real estate properties, net 110 1,517 224 1,617
Gains from equity method investment 1,524 236 1,939 402
Net income 36,689 34,952 70,506 65,610
Add: Net loss attributable to noncontrolling interests 298 304 646 593
Net income attributable to stockholders 36,987 35,256 71,152 66,203
Less: Net income attributable to unvested restricted stock awards (49) (29) (101) (61)
Net income attributable to common stockholders $ 36,938 $ 35,227 $ 71,051 $ 66,142
Weighted average common shares outstanding:        
Basic (in shares) 46,691,953 43,397,080 46,206,225 43,392,961
Diluted (in shares) 46,822,465 43,563,654 46,350,498 43,494,103
Earnings per share - basic (in dollars per share) $ 0.79 $ 0.81 $ 1.54 $ 1.52
Earnings per share - diluted (in dollars per share) $ 0.79 $ 0.81 $ 1.53 $ 1.52