v3.25.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Rental Property:    
Land $ 771,794,000 $ 698,633,000
Buildings and improvements, net of accumulated depreciation of $1,085,866 and $921,846, respectively 5,295,120,000 4,838,522,000
Deferred leasing intangibles, net of accumulated amortization of $386,627 and $360,094, respectively 428,865,000 435,722,000
Total rental property, net 6,495,779,000 5,972,877,000
Cash and cash equivalents 36,284,000 20,741,000
Restricted cash 1,109,000 1,127,000
Tenant accounts receivable 136,357,000 128,274,000
Prepaid expenses and other assets 96,189,000 80,455,000
Interest rate swaps 36,466,000 50,418,000
Operating lease right-of-use assets 31,151,000 29,566,000
Total assets 6,833,335,000 6,283,458,000
Liabilities:    
Unsecured credit facility 409,000,000 402,000,000
Unsecured term loans, net 1,021,848,000 1,021,773,000
Unsecured notes, net 1,594,092,000 1,195,872,000
Mortgage note, net 4,195,000 4,401,000
Accounts payable, accrued expenses and other liabilities 126,811,000 83,152,000
Tenant prepaid rent and security deposits 56,173,000 44,238,000
Dividends and distributions payable 23,469,000 22,726,000
Deferred leasing intangibles, net of accumulated amortization of $31,368 and $26,613, respectively 33,335,000 29,908,000
Operating lease liabilities 35,304,000 33,577,000
Total liabilities 3,304,227,000 2,837,647,000
Commitments and contingencies (Note 11)
Equity:    
Preferred stock, par value $0.01 per share, 20,000,000 shares authorized at December 31, 2024 and December 31, 2023; none issued or outstanding 0 0
Common stock, par value $0.01 per share, 300,000,000 shares authorized at December 31, 2024 and December 31, 2023, 186,517,523 and 181,690,867 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively 1,865,000 1,817,000
Additional paid-in capital 4,449,964,000 4,272,376,000
Cumulative dividends in excess of earnings (1,029,757,000) (948,720,000)
Accumulated other comprehensive income 35,579,000 49,207,000
Total stockholders’ equity 3,457,651,000 3,374,680,000
Noncontrolling Interest in Operating Partnerships 69,932,000 71,131,000
Noncontrolling interest in joint ventures 1,525,000 0
Total equity 3,529,108,000 3,445,811,000
Total liabilities and equity $ 6,833,335,000 $ 6,283,458,000