7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 2013-09-30 2013-06-30 2013-03-31 2012-12-31 2012-09-30 2012-06-30 2012-03-31 2011-09-30 2011-06-30 2011-03-31 2010-03-31 
      
    		                                                           
      cash flows from operating activities:
    		                                                           
      net income
    		32,478,000 36,689,000 33,817,000 42,787,000 28,242,000 34,953,000 30,657,000 31,719,000 29,032,000 39,447,000 34,183,000 1,560,000 34,229,000 21,466,000 8,246,000 6,505,000 30,849,000 39,229,000 35,384,000 37,163,000 42,660,000 44,426,000 61,062,000 42,036,000 42,756,000 39,978,000 35,679,000 37,082,000 40,980,000 37,839,000 38,432,000 37,799,000 39,091,000 38,245,000 44,230,000 41,188,000 33,438,000 44,981,000 33,109,000 54,786,000 33,977,000 31,538,000 30,013,000 28,100,000 25,518,000 25,578,000 23,856,000 28,110,000 43,051,000 20,098,000 15,923,000 41,270,000 14,350,000 16,928,000 18,350,000 18,808,000 25,117,000 19,093,000 15,943,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                                           
      depreciation
    		20,216,000 19,918,000 19,157,000 18,680,000 17,768,000 17,490,000 17,505,000 17,111,000 17,515,000 17,730,000 17,617,000 17,303,000 17,533,000 17,772,000 18,272,000 19,299,000 20,035,000 20,658,000 20,806,000 21,024,000 20,836,000 20,847,000 20,443,000 19,610,000 19,695,000 19,020,000 18,491,000 18,067,000 18,153,000 17,794,000 17,335,000 17,167,000 17,023,000 16,829,000 16,154,000 15,897,000 15,239,000 14,696,000 13,733,000 13,661,000 13,485,000 13,003,000 13,014,000 9,705,000 9,596,000 9,540,000 9,237,000 5,953,000 5,732,000 4,558,000 4,415,000 4,328,000 5,892,000 3,396,000 3,365,000 2,936,000 2,948,000 2,884,000 2,594,000 
      amortization of lease incentives
    		726,000 725,000 725,000 725,000 722,000 723,000 723,000 723,000 723,000 776,000 299,000 78,000 58,000 7,167,000 252,000 252,000 252,000 262,000 260,000 252,000 250,000 249,000 236,000 238,000 224,000 215,000 168,000 147,000 108,000 69,000 63,000 50,000                            
      amortization of commitment fees and discounts on mortgage
    		                                                           
      and other notes receivable
    		                                                           
      amortization of debt issuance costs, debt discounts and prepaid expenses
    		                                                           
      share-based compensation expense
    		                                                           
      non-cash rental income related to operations transfers
    		                                                           
      upon early lease terminations
    		                                                           
      non-cash changes in straight-line rents receivable
    		                                                           
      non-cash interest income on mortgage and other notes receivable
    		-548,000 -412,000 -243,000 -85,000 -14,000 0 -25,000 0 -518,000 -408,000 -376,000 -1,058,000 -1,201,000 -1,175,000 -880,000 -1,263,000 -198,000 -453,000 -700,000 -974,000                                        
      loan and realty (gains) losses
    		-1,979,000         186,000 -418,000        -50,000                                         
      gains on sales of real estate properties
    		-113,000                                                           
      gains on equity method investment
    		                                                           
      changes in operating assets and liabilities:
    		                                                           
      other assets
    		-2,076,000 384,000 -711,000 -2,206,000 328,000 809,000 -3,631,000 -317,000 206,000 1,140,000 -3,772,000 679,000 -1,650,000 -2,456,000 -107,000 -912,000 -447,000 -2,207,000 -484,000 995,000 -93,000 -385,000 -357,000 -455,000 -415,000 -487,000 2,961,000 -1,634,000 2,095,000 -1,514,000 -4,245,000  -2,504,000 -1,664,000 -657,000                         
      accounts payable and other liabilities
    		                                                           
      deferred income
    		481,000 -67,000 74,000 -187,000 -347,000 -174,000 -432,000 363,000 -66,000 23,000 -219,000 -300,000 789,000 308,000 -385,000 141,000 344,000 -173,000 -52,000 52,000 -406,000 756,000 -619,000 -81,000 707,000 -152,000 16,322,000         89,000 306,000 -537,000 -1,243,000 1,100,000 -171,000 -184,000 1,756,000 -301,000 -43,000 -286,000 -2,200,000 2,086,000 -45,000 -64,000 -40,000 -40,000 -269,000 10,000 -40,000 234,000 57,000 -38,000 401,000 
      net cash from operating activities
    		62,532,000 59,817,000 46,478,000 57,573,000 48,629,000 60,739,000 40,827,000 53,203,000 49,703,000 50,496,000 31,048,000 46,357,000 43,535,000 56,768,000 38,680,000 53,358,000 48,989,000 51,600,000 56,912,000 55,621,000 59,718,000 59,727,000 57,082,000 56,146,000 57,895,000 53,077,000 73,837,000 51,871,000 54,173,000 53,317,000 48,508,000 51,365,000 51,012,000 46,273,000 48,675,000 47,903,000 46,121,000 41,898,000 41,297,000 43,629,000 40,800,000 41,432,000 38,564,000 32,928,000 31,595,000 32,744,000 28,876,000 29,780,000 26,488,000 24,079,000 23,846,000 22,531,000 21,863,000 20,625,000 21,247,000 19,924,000 21,377,000 17,355,000 19,272,000 
      capex
    		0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 
      free cash flows
    		62,532,000 59,817,000 46,478,000 57,573,000 48,629,000 60,739,000 40,827,000 53,203,000 49,703,000 50,496,000 31,048,000 46,357,000 43,535,000 56,768,000 38,680,000 53,358,000 48,989,000 51,600,000 56,912,000 55,621,000 59,718,000 59,727,000 57,082,000 56,146,000 57,895,000 53,077,000 73,837,000 51,871,000 54,173,000 53,317,000 48,508,000 51,365,000 51,012,000 46,273,000 48,675,000 47,903,000 46,121,000 41,898,000 41,297,000 43,629,000 40,800,000 41,432,000 38,564,000 32,928,000 31,595,000 32,744,000 28,876,000 29,780,000 26,488,000 24,079,000 23,846,000 22,531,000 21,863,000 20,625,000 21,247,000 19,924,000 21,377,000 17,355,000 19,272,000 
      cash flows from investing activities:
    		                                                           
      acquisitions of real estate properties
    		0                                                           
      investments in existing real estate properties and equipment
    		                                                           
      proceeds from sales of real estate properties
    		                                                           
      investments in mortgage and other notes receivable
    		-5,611,000 -6,553,000 -19,135,000  -1,212,000 -10,600,000 -16,004,000  -20,930,000 -4,955,000 -7,219,000  -6,454,000 -8,016,000 -16,350,000  -12,051,000 -34,424,000 -8,412,000  -8,889,000 -12,528,000 -20,298,000  -24,291,000 -48,653,000 -11,002,000  -6,299,000 -3,940,000 -5,905,000  -13,779,000 -2,612,000 -28,338,000                         
      payments received on mortgage and other notes receivable
    		                                                           
      distributions received from equity method investment
    		73,000                                                           
      net cash from investing activities
    		41,667,000 -48,316,000 -75,469,000 -161,199,000 -1,572,000 -13,351,000 -16,193,000 2,336,000 -19,946,000 33,501,000 -27,521,000 -49,198,000 54,920,000 194,283,000 -2,060,000 21,919,000 158,129,000 14,362,000 -9,133,000 -6,294,000 -3,293,000 -29,108,000 -51,017,000 -37,619,000 -36,873,000 -202,990,000 -65,039,000 -100,816,000 -8,577,000 -121,311,000 -19,586,000 -19,008,000 -16,927,000 -7,467,000 -120,444,000 -29,672,000 -69,641,000 -216,229,000 -14,296,000 22,420,000 -113,283,000 -2,402,000 -43,061,000 -493,839,000 -9,843,000 -14,612,000 -22,022,000 -508,691,000 -39,197,000 -75,791,000 -2,145,000 -7,933,000 -64,177,000 -23,638,000 -4,062,000 -8,675,000 -2,905,000 6,020,000 -76,224,000 
      cash flows from financing activities:
    		                                                           
      proceeds from revolving credit facility
    		176,000,000 68,000,000 261,000,000 205,700,000 124,000,000 61,000,000 59,000,000 81,000,000 52,000,000 39,000,000 192,000,000 60,000,000 70,000,000 10,000,000 85,000,000 0 35,000,000 30,000,000 30,000,000 60,000,000 0 20,000,000 125,000,000 65,000,000 40,000,000 197,000,000 95,000,000 95,000,000                                
      payments on revolving credit facility
    		-454,000,000 -137,200,000 -145,000,000 -193,500,000 -49,500,000 -65,000,000 -55,500,000 -41,000,000 -43,000,000 -58,000,000 -19,000,000 -28,000,000 -60,000,000   0 -60,000,000 -35,000,000 -298,000,000 -50,000,000 -125,000,000 -15,000,000 -17,000,000 -15,000,000 -63,000,000 -13,000,000 -90,000,000 -34,000,000                                
      payments on bank term loan
    		                                                           
      proceeds from issuance of senior notes
    		               0 0 0 396,784,000                                         
      payments of debt issuance costs
    		-3,624,000                                                           
      proceeds from issuance of common shares
    		11,439,000 58,001,000 65,483,000              0 -47,000 47,951,000      47,948,000 11,941,000 35,913,000  2,973,000    42,426,000 -25,000 79,797,000  54,000,000                       
      payments of equity issuance costs
    		0                                                           
      noncontrolling interest capital contribution
    		250,000                                                           
      distributions paid to noncontrolling interests
    		-174,000                                                           
      dividends paid to stockholders
    		-42,725,000 -42,024,000 -41,119,000 -39,260,000 -39,099,000 -39,082,000 -39,069,000 -39,069,000 -39,069,000 -39,050,000 -39,050,000 -39,050,000 -40,190,000 -41,265,000 -41,266,000 -41,268,000 -41,266,000 -50,548,000 -49,818,000 -49,314,000 -49,227,000 -49,226,000 -46,817,000 -46,154,000 -45,525,000 -45,360,000 -42,700,000 -42,231,000 -42,172,000 -41,532,000 -39,456,000 -39,454,000 -38,935,000 -38,788,000 -35,863,000 -35,863,000 -35,239,000 -34,564,000 -32,637,000 -31,931,000 -31,931,000 -31,931,000 -28,864,000 -25,455,000 -25,452,000 -25,450,000 -24,293,000 -20,489,000 -20,490,000 -19,373,000 -24,793,000 -18,646,000 -18,074,000 -18,061,000 -24,144,000 -17,041,000 -17,042,000 -16,752,000 -17,959,000 
      taxes paid related to net settlement of stock incentive awards
    		                                                           
      net cash from financing activities
    		-41,897,000 -129,455,000 139,766,000 112,361,000 -46,193,000 -43,814,000 -35,922,000 -49,417,000 -30,536,000 -80,250,000 -9,516,000 -7,357,000 -112,801,000 -244,919,000 -36,177,000 -85,987,000 -191,648,000 -147,465,000 22,106,000 -54,098,000 -70,729,000 -45,019,000 58,084,000 -19,139,000   -3,156,000 51,207,000 -46,003,000 67,809,000 -28,755,000 -33,024,000 -33,629,000 -41,021,000 72,622,000 -17,596,000 23,841,000 149,399,000 -11,479,000 -66,960,000 83,387,000 -39,927,000 5,400,000 460,639,000 -25,350,000 -17,220,000 -11,921,000 482,773,000 -16,310,000 82,131,000 -24,823,000 -9,836,000 36,924,000 5,886,000 -26,144,000 -17,666,000 -17,668,000 -4,942,000 15,597,000 
      increase in cash, cash equivalents and restricted cash
    		                                                           
      cash, cash equivalents and restricted cash at the beginning of the period
    		0                                                           
      cash, cash equivalents and restricted cash at the end of the period
    		62,302,000                                                           
      amortization of debt issuance costs, debt discount and prepaids
    		                                                           
      amortization of commitment fees and notes receivable discounts
    		                                                           
      straight-line rent adjustments
    		    -1,161,000 -1,213,000 308,000  -1,039,000 -2,875,000 -2,097,000  -2,476,000                                               
      gains from equity method investment
    		 -1,524,000 -415,000 0 0 -236,000 -166,000        -297,000                                             
      non-cash share-based compensation expense
    		                                                           
      accounts payable and accrued expenses
    		 4,108,000 -8,522,000 6,768,000 -2,208,000 6,248,000 -7,523,000 4,612,000 541,000 4,053,000 -3,277,000 2,980,000 -2,279,000 3,976,000 -4,252,000 5,943,000 -2,709,000 853,000 -735,000 -4,168,000 805,000 -1,821,000 -1,497,000 -1,457,000 186,000 -26,000 1,597,000 1,247,000        1,127,000 2,068,000 -922,000 491,000 1,094,000 948,000 2,286,000 -3,290,000 1,941,000 -670,000 1,326,000 -1,149,000 1,997,000 172,000 766,000 -440,000 200,000 -255,000 208,000 -665,000    -66,000 
      collections on mortgage and other notes receivable
    		                                                           
      fees received on mortgage notes receivable
    		                                                           
      investments in renovations of existing real estate properties and equipment
    		                                                           
      payments on term loans
    		 -75,703,000 -112,000  -75,105,000 -117,000 -105,000  -101,000 -220,100,000 -145,103,000 -98,000 -98,000 -60,094,000 -75,098,000 -43,039,000 -125,092,000 -25,091,000 -100,094,000 -42,812,000 -308,000 -305,000 -304,000 -301,000 -297,000 -293,000 -296,000 -290,000 -286,000 -283,000 -285,000  -250,199,000 -198,000 -196,000  -192,000 -192,000 -189,000  -186,000 -185,000 -183,000  -289,000 -251,000 -250,275,000             
      payments of employee income taxes related to net settlement of equity awards
    		                                                           
      decrease in cash, cash equivalents and restricted cash
    		                                                           
      amortization of debt issuance costs, debt discounts and prepaids
    		  1,679,000  1,504,000 1,578,000 1,440,000  1,310,000 1,034,000 1,048,000  1,060,000 1,069,000 1,087,000  1,026,000 1,063,000 1,192,000  1,425,000 1,177,000 1,173,000 1,453,000                                    
      amortization of commitment fees and note receivable discounts
    		  -103,000 -99,000 -208,000 285,000 -94,000 -89,000 -89,000 -86,000 -148,000 -70,000 -63,000 -619,000 -120,000 -84,000 -393,000 -121,000 -131,000 -286,000 -146,000 -306,000 -129,000 -128,000 -124,000 -122,000 -119,000 -37,000 -36,000 -37,000 -552,000 -124,000 -44,000 -245,000 -104,000 -390,000                        
      straight-line rents adjustments
    		  -1,410,000                                                         
      gains on sales of real estate
    		  -114,000 -4,960,000 -101,000 -1,517,000 -100,000 -1,221,000 -737,000 -11,366,000 -1,397,000 0 -14,840,000 -10,521,000 -2,981,000 -6,072,000 -19,942,000    0                                       
      loan and realty losses
    		  -14,000 745,000 3,434,000 1,106,000 10,000 -351,000    21,960,000 11,329,000 4,094,000 24,528,000 29,170,000 22,425,000   -11,000 -193,000 -360,000 1,555,000 -60,000 0 0 2,500,000 3,266,000 0                       -4,495,000        
      non-cash share-based compensation
    		  2,558,000 670,000 670,000 687,000 2,155,000 865,000 866,000 769,000 2,105,000 1,037,000 1,065,000 1,428,000 5,083,000                   342,000 1,523,000                         
      collections of mortgage and other notes receivable
    		  19,918,000  6,345,000 5,726,000 2,621,000  1,738,000 2,282,000 7,211,000  3,100,000 113,885,000 988,000  12,243,000 51,824,000 442,000  19,316,000 291,000 14,288,000  2,008,000 258,000 300,000  865,000 240,000 2,535,000  5,870,000 12,046,000 12,109,000                         
      acquisitions of real estate
    		  -74,484,000  0    0 0 -38,081,000                                                 
      investments in renovations of existing real estate and equipment
    		  -2,183,000                                                         
      distributions from equity method investment
    		  415,000 0 0 236,000 166,000 555,000 0 0 2,500,000 0                                                
      equity issuance costs
    		  -47,000         -45,000          -206,000 -87,000                                     
      distributions to noncontrolling interests
    		  -311,000 -330,000 -288,000 -285,000 -248,000 -276,000 -366,000 -275,000 -363,000 -159,000 -235,000 -251,000 -271,000 -218,000 -290,000 -144,000 -258,000 -211,000 -239,000 -282,000 -16,000                                     
      taxes related to net settlement of equity awards
    		  -128,000  -5,419,000                                                       
      increase in cash and cash equivalents and restricted cash
    		  110,775,000       3,747,000 -5,989,000 -10,198,000 -14,346,000 6,132,000 443,000 -10,710,000 15,470,000 -81,503,000 69,885,000  -14,304,000 -14,400,000 64,149,000  -257,000 984,000 5,642,000                                 
      cash and cash equivalents and restricted cash, beginning of period
    		  26,502,000  0 0 24,617,000  0 0 21,516,000  0 0 39,485,000  0 0 46,343,000 0 0 0 15,669,000 0 0 0 9,912,000                                 
      cash and cash equivalents and restricted cash, end of period
    		  137,277,000  864,000 3,574,000 13,329,000  -779,000 3,747,000 15,527,000  -14,346,000 6,132,000 39,928,000  15,470,000 -81,503,000 116,228,000 -4,771,000 -14,304,000 -14,400,000 79,818,000 -612,000 -257,000 984,000 15,554,000                                 
      adjustments to reconcile net income to net cash provided by
    		                                                           
      operating activities:
    		                                                           
      amortization of deferred loan costs, debt discounts and prepaids
    		                                                           
      straight-line lease revenue
    		                                                           
      non-cash rental income
    		       0 0 0 -2,500,000                                                 
      non-cash lease deposit liability recognized as rental income
    		           0 0                                               
      non-cash lease incentive recognized as interest and other income
    		                                                           
      non-cash gain on equity forward
    		                                                           
      gain on note receivable payoff
    		                                                           
      loss on operations transfer
    		           0 -19,000                                               
      loss on early retirement of debt
    		       0 0   0 0 0 151,000 1,461,000 0 0 451,000                                         
      payment of lease incentives
    		               0 0 0 -1,042,000 -125,000    0 -500,000 -1,350,000 -1,250,000 -2,280,000                                
      investment in mortgage and other notes receivable
    		                                     -20,899,000 -20,774,000 -19,157,000 -20,512,000 -11,807,000 -40,773,000 -3,008,000 -225,000 -83,000 -1,131,000 -1,369,000 -9,213,000           
      collection of mortgage and other notes receivable
    		                                     11,870,000 3,985,000 2,367,000 2,363,000 14,146,000 2,619,000 106,000 351,000 100,000 899,000 97,000 3,395,000           
      fees received on mortgage note
    		   0 0                                                       
      acquisition of real estate
    		           -1,488,000 0   0 0                                           
      proceeds from sales of real estate
    		   1,521,000 0   5,489,000 2,923,000 38,418,000 10,201,000 1,000 60,064,000 95,723,000 13,170,000 35,717,000                                            
      investments in renovations of existing real estate
    		   -6,017,000 -4,678,000 -2,746,000 -2,293,000     -497,000 -1,262,000 -2,705,000 -165,000 -459,000 -1,527,000 -36,000 -1,443,000  -5,534,000 -2,522,000 -3,057,000  -5,995,000 -4,085,000 -4,215,000  -3,143,000 -2,457,000 -1,812,000  -2,723,000 -1,897,000 -994,000                         
      investments in equipment
    		   -518,000 -2,027,000 -841,000 -683,000 -1,164,000        0 0 -56,000 -8,000                                         
      borrowings on term loans
    		                                        0 0 225,000,000                 
      payments on term loans and private placement notes
    		                                                           
      deferred loan costs
    		                                                           
      proceeds from noncontrolling interests
    		                   0 0 0 13,000                                     
      taxes remitted on employee stock awards
    		           0 -274,000 -7,000 -7,000      0 0 -2,705,000  -358,000 -10,000 -1,006,000  -405,000                               
      proceeds from equity offering
    		                                                           
      payments to repurchase shares of common stock
    		           0 -81,974,000                                               
      cash and cash equivalents and restricted cash, beginning of year
    		                                                           
      cash and cash equivalents and restricted cash, end of year
    		                                                           
      payment of lease incentive
    		        0 0 -10,000,000                                                 
      borrowings on term loan
    		        0                                   0 0 0 130,000,000 250,000,000 0   0 0   0 0 50,000,000  
      debt issuance costs
    		        0    -9,000 -63,000 -4,535,000  0 -559,000 -4,459,000      -36,000 -23,000 -67,000     -786,000    -144,000    -246,000 -57,000 -803,000 -1,502,000 456,000 -1,892,000 -86,000 -6,921,000 -4,592,000 -44,000           
      forward equity costs
    		                                                           
      proceeds from noncontrolling interest
    		    0    0 922,000 2,000,000             12,000 -11,000                                   
      decrease in cash and cash equivalents and restricted cash
    		    864,000 3,574,000 -11,288,000                                                     
      (gains) losses from equity method investment
    		           0 0                                               
      prepayment fee for early retirement of debt
    		                                                           
      convertible bond redemption
    		                              -29,958,000 -46,609,000 -11,546,000                           
      investments in existing real estate
    		        -1,098,000 -2,244,000 -2,133,000                                                 
      investment in equity method investment
    		                                                           
      gain on note payoff
    		            0                                               
      convertible note redemption
    		                0            0                               
      proceeds from redeemable noncontrolling interests
    		                                                           
      distribution from equity method investment
    		             272,000 297,000  188,000 0 288,000                                         
      straight-line rent income
    		              -1,079,000  -3,798,000 -4,150,000 -4,241,000  -5,086,000 -5,218,000 -5,177,000  -5,720,000 -5,307,000 -5,228,000                                 
      non-cash lease deposit liability recognized as lease income
    		              -8,838,000                                             
      income from equity method investment
    		               -729,000 556,000 910,000 808,000 1,108,000 728,000 848,000 442,000                                     
      taxes remitted on employee stock options exercised
    		                                                           
      non-cash stock-based compensation
    		                989,000 992,000 5,446,000  457,000 470,000 1,845,000  477,000 477,000 2,001,000 359,000 337,000 369,000 1,425,000 342,000                            
      proceeds from sale of real estate
    		                    0 0 39,260,000                                     
      investments in real estate
    		                    -8,082,000 -14,295,000 -80,335,000  -8,595,000 -150,510,000 -50,122,000  0 -115,154,000 -14,404,000  -4,840,000 -10,400,000 -118,011,000                         
      gain on sales of real estate
    		                      -21,007,000                                     
      change in operating assets and liabilities:
    		                                                           
      investment in real estate
    		                                     -252,147,000 -9,463,000 -2,249,000 -100,805,000 -3,251,000 -10,000 -484,817,000 -6,265,000 -13,116,000 -16,307,000 -501,897,000 -50,895,000           
      investment in real estate development
    		                                     -7,914,000 -7,640,000 -5,834,000 -4,236,000 -1,369,000 -3,202,000 -2,433,000 -2,702,000 -748,000 -2,572,000 -4,043,000 -3,978,000 -2,442,000 -1,463,000         
      investment in renovations of existing real estate
    		                                     -362,000 -453,000 -400,000 -941,000 -121,000 -1,695,000 -1,133,000 -1,002,000 -765,000 -1,311,000 -1,450,000 -1,987,000 -2,500,000 -836,000         
      equity method investment
    		                   0 0 0 -875,000                                     
      proceeds from sale of real estate properties
    		                                                           
      proceeds from borrowings on term loans
    		                                                           
      increase in cash and cash equivalents
    		                              167,000    853,000 635,000 321,000 -24,932,000 15,522,000 -911,000 10,904,000 -897,000 903,000         4,762,000 -5,390,000 2,873,000 -8,959,000 -6,417,000 804,000 18,433,000 -41,355,000 
      investments in real estate development
    		                    -104,000            -1,455,000 -4,604,000 -3,842,000                         
      non-cash interest income on construction loans
    		                     -956,000 -888,000  -504,000 -457,000 -548,000  -314,000 -507,000 -436,000  -238,000 -199,000 -271,000                         
      non-cash interest income on construction loan
    		                                     -236,000 -150,000                 -293,000 -267,000 -221,000  
      loss on convertible note retirement
    		                            0 0 738,000                             
      gains on sales of marketable securities
    		                                                           
      proceeds from disposition of real estate properties
    		                               0 0 0 450,000 0 0 24,723,000 3,000,000 0        -29,000        3,200,000 0 5,771,000  
      proceeds from sales of marketable securities
    		                                   3,158,000 0 39,400,000 17,049,000 53,656,000            0 0   0 11,215,000 1,647,000 1,000 
      distributions to noncontrolling interest
    		                                   -260,000 -439,000 -431,000 -435,000 -984,000 -439,000 -433,000 -436,000 -460,000 -724,000 -433,000 -432,000 -432,000 -377,000 -265,000 -176,000         
      taxes remitted in relation to employee stock options exercised
    		                               15,000 -226,000 -244,000 -116,000 2,000 -313,000                       
      amortization of debt issuance costs and debt discounts
    		                         1,288,000 1,263,000                                 
      net provided by financing activities
    		                                                           
      amortization
    		                              1,069,000 1,636,000 1,675,000 1,142,000 1,337,000 900,000 891,000 887,000 885,000 883,000 880,000 876,000 833,000 795,000 735,000 738,000 343,000 21,000            
      straight-line rental income
    		                             -5,835,000 -5,962,000 -7,134,000 -6,951,000 -6,250,000 -5,755,000 -5,615,000 -6,000,000 -5,297,000 -5,286,000 -6,131,000 -6,184,000 -6,219,000 -6,089,000 -3,771,000 -4,202,000 -4,295,000 -4,195,000 -2,152,000 -1,713,000 -1,412,000 -1,283,000 -1,339,000 -1,248,000 -15,000 -1,062,000     
      loss on extinguishment of debt
    		                               1,623,000 495,000                           
      gain on disposition of equity-method investee
    		                                                           
      income from equity-method investee
    		                                   0 754,000 58,000 402,000    229,000  53,000 -52,000 -158,000 -55,000 -178,000           
      payment allocated to cancellation of lease purchase option
    		                                                           
      long-term escrow deposit
    		                                   -3,708,000 0                       
      proceeds from exercise of stock options
    		                                       0 0 0 1,000     0 0           
      distribution to acquire non-controlling interest
    		                                   -10,538,000                        
      gain on sale of real estate
    		                               0 0 0 -50,000 0 0 -2,928,000 -1,654,000 0        -2,888,000        -1,049,000    
      gain on sale of marketable securities
    		                                0 0 -10,038,000  0 -23,487,000 -11,000                     
      proceeds from sale of marketable securities
    		                                0                           
      decrease in cash and cash equivalents
    		                            -407,000    456,000              -5,067,000    -3,122,000         
      cash and cash equivalents, beginning of period
    		                            0 0 3,063,000 -196,000 0 0 4,832,000 0 0 0 13,286,000 0 0 0 3,287,000 0 0 0 11,312,000 0 0 0 9,172,000 0 0 0 15,886,000 0 0 2,664,000 45,718,000 
      cash and cash equivalents, end of period
    		                            -407,000 -185,000 3,230,000 -863,000 456,000 -2,215,000 5,685,000 635,000 321,000 -24,932,000 28,808,000 -911,000 10,904,000 -897,000 4,190,000 -272,000 -3,598,000 912,000 6,245,000 3,862,000 -29,019,000 30,419,000 6,050,000 4,762,000 -5,390,000 2,873,000 6,927,000 -6,417,000 804,000 21,097,000 4,363,000 
      amortization of issue costs, debt discounts and prepaid expenses
    		                                                           
      accounts payable, accrued expenses and other liabilities
    		                             2,259,000 641,000  1,991,000 -2,023,000 2,306,000                         
      proceeds from revolving credit facilities
    		                             123,000,000 56,000,000                             
      payments on revolving credit facilities
    		                             -58,000,000 -15,000,000                             
      offering costs
    		                              -56,000                             
      loan and realty losses (recoveries)
    		                                                           
      gain on sale of equity-method investee
    		                                   0                        
      net realized gains on sales of marketable securities
    		                                                   0 0   -1,090,000    
      equity-method investment and other assets
    		                                     -219,000 110,000 909,000 -1,433,000 106,000 634,000 -2,338,000 385,000 -29,000 -352,000 -352,000 421,000           
      purchases of marketable securities
    		                                       -5,963,000                    
      net change in borrowings under revolving credit facilities
    		                               54,000,000 -21,000,000 1,000,000 29,000,000 29,400,000 -62,400,000 135,000,000 22,000,000 -183,000,000 116,000,000 -6,500,000 -266,500,000 293,000,000 -35,000,000 9,000,000 -60,000,000 -24,000,000 24,000,000   9,000,000 55,000,000 -95,300,000 -2,000,000     
      proceeds from issuance of secured debt
    		                                       0 0 0 78,084,000 0                
      payments of term loans
    		                                                           
      non-cash write-offs due to lease transition
    		                                                           
      payment allocated to lease purchase option
    		                                    0                       
      proceeds from marketable securities
    		                                  18,182,000                         
      unamortized debt premium written off
    		                                                           
      write-off of debt issuance costs
    		                                           0 0 0 2,145,000 63,000 0           
      share-based compensation
    		                                   251,000 251,000 251,000 979,000 204,000 233,000 233,000 1,464,000 224,000 223,000 224,000 1,349,000 253,000 253,000 253,000 1,580,000 244,000 245,000 247,000 1,432,000 267,000 274,000 2,371,000 1,821,000 
      payments into facility repair escrows
    		                                                           
      payment of real estate purchase liability
    		                                           -1,000,000 0 0 -1,600,000     -2,222,000        
      proceeds from convertible senior notes
    		                                           0 0 0 200,000,000             
      non-cash write-offs due to lease transitions
    		                                                           
      loan recovery
    		                                        0                   
      equity offering costs
    		                                        0 -75,000 -200,000                 
      amortization of commitment fees
    		                                     -75,000 -68,000                     
      taxes paid on employee stock options exercised
    		                                      -218,000                     
      gain on purchase liability settlement
    		                                                           
      (income) income from equity-method investee
    		                                                           
      loss (income) from equity-method investee
    		                                                           
      gain on payoff of mortgage note
    		                                                           
      investment in equity-method investment
    		                                                           
      payment of earnest money deposit
    		                                                           
      change in fair value of interest rate swap agreement
    		                                                           
      receipt of earnest money deposit
    		                                                          3,100,000 
      loan and realty (recoveries) losses
    		                                                           
      investment in unconsolidated entity
    		                                                   0        
      repayment of term loan
    		                                                0           
      principal payments on term loan
    		                                                       -625,000 -625,000 -625,000  
      loan impairment
    		                                                 0 4,037,000         
      real estate purchase deposit
    		                                                           
      supplemental disclosure of cash flow information:
    		                                                           
      interest paid
    		                                                 1,212,000 1,070,000       660,000 88,000 
      supplemental disclosure of non-cash investing and financing activities:
    		                                                           
      conditional consideration in asset acqusition
    		                                                           
      assumption of debt in real estate acquisition
    		                                                           
      change in fair value of cash flow hedge
    		                                                           
      assignment of net assets in equity-method investee
    		                                                           
      income from unconsolidated entity
    		                                                  -22,000         
      investment in unconsolidated entity and other assets
    		                                                  -324,000         
      investment in mortgage notes receivable
    		                                                   -10,444,000 -535,000 -5,210,000 -52,000 -3,200,000 -871,000 -2,496,000 -3,200,000 
      collection of mortgage notes receivable
    		                                                  154,000 14,619,000 1,109,000 864,000 871,000 780,000 1,905,000 899,000 843,000 
      stock options exercised
    		                                                  146,000 0    0 -1,000 200,000  
      supplemental schedule of non-cash investing and financing activities:
    		                                                           
      increase in fair value of cash flow hedge
    		                                                  270,000         
      deferred costs and other assets
    		                                                   -1,021,000 766,000 -226,000 56,000 354,000 455,000 -740,000 23,000 
      investment in real estate properties
    		                                                   -32,861,000 -53,442,000 -19,417,000 -4,881,000 -9,455,000    
      proceeds from dispositions of real estate property
    		                                                           
      debt issuance costs paid
    		                                                   -13,000        
      accounts receivable
    		                                                     107,000 -189,000  919,000 -771,000 -1,512,000 
      straight-line rent adjustment
    		                                                       -907,000 -945,000 -910,000  
      loan and realty recoveries
    		                                                           
      accounts payable and other accrued expenses
    		                                                         -606,000  
      receipt of earnest money deposits
    		                                                       0 0 525,000  
      net change in borrowings under a revolving credit facility
    		                                                       0 0 -37,765,000  
      adjustments to reconcile net income to net cash from
    		                                                           
      benefit from loan and realty recoveries
    		                                                           
      increase in fair value of interest rate swap agreement
    		                                                        988,000 -1,254,000  
      net gain on sale of real estate
    		                                                         -2,299,000  
      net realized gains and recoveries on sales of marketable securities
    		                                                         -154,000  
      acquisition of real estate properties
    		                                                         -326,000 -76,968,000 
      national health investors, inc.
    		                                                           
      condensed consolidated statements of cash flows
    		                                                           
      supplemental schedule of non-cash activities:
    		                                                           
      settlement of mortgage note by real estate acquisition
    		                                                          22,936,000 
      cash withheld at closing of real estate acquisition
    		                                                          1,000,000 
      earnest money deposit applied to sale of real estate
    		                                                         3,475,000  
      impairment of real estate assets in discontinued operations
    		                                                           
      realized loss on sale of marketable securities
    		                                                           
      amortization of loan costs
    		                                                          68,000 
      acquisition of marketable securities
    		                                                           
      net borrowings under revolving credit facility
    		                                                          33,935,000 
      credit facility fees
    		                                                          -379,000 
      principal payments on debt
    		                                                           
      benefit from loan and realty losses
    		                                                           
      gain on payoff of note receivable
    		                                                           
      realized (gain) loss on sale of marketable securities
    		                                                           
      amortization of deferred income
    		                                                           
      investment in mortgage note receivable
    		                                                           
      prepayment of mortgage notes receivable
    		                                                           
      acquisition of property and equipment
    		                                                           
      proceeds from disposition of property and equipment
    		                                                           
      acquisitions of marketable securities
    		                                                           
      sales of marketable securities
    		                                                           
      net cash (used in) financing activities
    		                                                           
      supplemental information:
    		                                                           
      interest payments on bonds and notes payable
    		                                                           
      non-cash investing transactions:
    		                                                           
      real estate purchase guarantee
    		                                                           
      discount on mortgage note receivable purchased
    		                                                           
      adjustments to reconcile net income to net cash provided from operating activities:
    		                                                           
      benefit from loan, remic, realty, and security losses
    		                                                           
      net gain on sales of real estate
    		                                                           
      gain on sale of notes receivable
    		                                                           
      realized (gain) loss on sales of marketable securities
    		                                                           
      interest on debenture conversions
    		                                                           
      amortization of discount on held-to-maturity securities and real estate mortgage investment conduit
    		                                                           
      increase in accounts receivable
    		                                                           
      increase in deferred costs and other assets
    		                                                           
      increase in accounts payable and other accrued expenses
    		                                                           
      decrease in accrued interest
    		                                                           
      adjustments to reconcile net income to net cash provided from investing activities:
    		                                                           
      sale of mortgage notes receivable
    		                                                           
      collection of real estate mortgage investment conduits
    		                                                           
      acquisition of and construction of real estate properties
    		                                                           
      disposition of property and equipment
    		                                                           
      net cash from investing activities:
    		                                                           
      adjustments to reconcile net income to net cash provided from financing activities:
    		                                                           
      proceeds from debt
    		                                                           
      payments on debt
    		                                                           
      payments of convertible subordinated debentures
    		                                                           
      repurchase of common stock
    		                                                           
      sale of common stock
    		                                                           
      depreciation of real estate
    		                                                           
      benefit from loan, realty and security losses
    		                                                           
      deferred income received
    		                                                           
      amortization of bond discount
    		                                                           
      amortization of discount on investments
    		                                                           
      increase in accounts payable and accrued liabilities
    		                                                           
      payments on credit facilities
    		                                                           
      proceeds from (payments on) convertible
    		                                                           
      subordinated debentures
    		                                                           
      sale (repurchase) of cumulative convertible preferred stock
    		                                                           
      sale (repurchase) of common stock
    		                                                           
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.