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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Cash Flows from Operating Activities              
Net income $ 41,015 $ 41,774 $ 36,130 $ 36,289 $ 82,789 $ 72,419  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation and amortization 42,750   31,950   83,396 60,510  
Amortization from above (below) market lease intangibles, net         17,322 16,489  
Amortization from financing costs, credit facility costs and debt discount         2,225 1,884  
Stock-based compensation         4,008 3,378  
Straight-line accrued rent         (6,147) (6,230)  
Provision for impairment 1,315   0   1,315 1,015  
(Gain) loss on sale of assets         (319) (2,326)  
(Increase) decrease in accounts receivable         945 (1,564)  
(Increase) decrease in other assets         (10,366) (951)  
Increase (decrease) in accounts payable, accrued expenses, and other liabilities         8,560 5,465  
Net Cash Provided by Operating Activities         183,728 150,089  
Cash Flows from Investing Activities              
Acquisition of real estate investments and other assets         (610,593) (799,166)  
Development of real estate investments and other assets, net of reimbursements (including capitalized interest of $1,203 in 2023 and $262 in 2022)         (55,813) (46,105)  
Payment of leasing costs         (36) (203)  
Net proceeds from sale of assets         3,069 23,924  
Net Cash Used in Investing Activities         (663,373) (821,550)  
Cash Flows from Financing Activities              
Proceeds from common stock offerings, net         400,237 550,794  
Repurchase of common shares         (2,615) (1,821)  
Unsecured revolving credit facility borrowings         636,000 680,000  
Unsecured revolving credit facility repayments         (433,000) (470,000)  
Payments of mortgage notes payable         (445) (418)  
Payment of Series A preferred dividends         (3,718) (3,718)  
Payment of common stock dividends         (133,112) (101,018)  
Distributions to non-controlling interest         (266) (478)  
Payments for financing costs         (98) (23)  
Net Cash Provided by Financing Activities         462,983 653,318  
Net Increase (Decrease) in Cash and Cash Equivalents and Cash Held in Escrow         (16,662) (18,143)  
Cash and cash equivalents and cash held in escrow, beginning of period   28,909   45,250 28,909 45,250 $ 45,250
Cash and cash equivalents and cash held in escrow, end of period 12,247   27,107   12,247 27,107 28,909
Supplemental Disclosure of Cash Flow Information              
Cash paid for interest (net of amounts capitalized)         47,048 28,502  
Cash paid for income tax         3,019 2,335  
Supplemental Disclosure of Non-Cash Investing and Financing Activities              
Mortgage note payable assumed, net of $2,548 mortgage debt discount         0 39,702  
Dividends declared and unpaid 24,098       24,098   $ 22,345
Change in accrual of development, construction and other real estate investment costs         (4,589) (341)  
Preferred Stock [Member]              
Cash Flows from Operating Activities              
Net income 1,859 $ 1,859 1,859 $ 1,859      
Supplemental Disclosure of Non-Cash Investing and Financing Activities              
Dividends declared and unpaid 620   620   620 620  
Common Stock [Member]              
Supplemental Disclosure of Non-Cash Investing and Financing Activities              
Dividends declared and unpaid $ 23,478   $ 18,765   $ 23,478 $ 18,765