Omega Healthcare Investors, Inc
(NYSE:OHI)

Omega is a real estate investment trust that invests in the long-term healthcare industry, primarily in skilled nursing and assisted living facilities. Its portfolio of assets is operated by a diverse group of healthcare companies, predominantly in a triple-net lease structure. The assets span all r...

Website: http://www.omegahealthcare.com

Founded: 1992

Full Time Employees: 49

Sector: Real Estate

Industry: REIT-Healthcare Facilities

Real Estate REIT

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At a glance:

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Quarterly

Annual

Unit: USD	2025-09-30	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	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31

revenues
rental income	264,540,000	239,202,000	232,178,000	235,189,000	231,485,000	214,315,000	206,921,000	207,254,000	209,948,000	219,101,000	189,077,000	114,309,000	207,588,000	211,428,000	216,883,000	217,797,000	247,164,000	220,955,000	237,761,000	227,169,000	83,226,000	221,532,000	221,500,000	214,612,000	202,470,000	194,817,000	192,177,000	188,265,000	192,276,000	192,850,000	193,949,000	194,579,000	194,063,000	193,997,000	192,537,000	194,891,000	185,837,000	186,454,000	176,703,000	175,292,000	166,623,000	163,112,000	100,964,000	98,747,000	97,536,000	96,242,000	95,918,000	95,120,000	93,837,000	93,069,000	93,109,000	85,219,000	78,170,000	75,228,000	75,975,000	70,071,000	68,622,000	68,487,000	66,337,000	67,744,000	66,299,000	51,520,000	47,209,000	40,842,000	41,226,000	41,225,000	41,175,000	40,713,000	37,265,000	39,774,000	38,013,000	37,969,000	37,113,000	36,192,000	40,877,000	34,016,000	33,153,000	29,042,000	28,933,000	24,525,000	23,962,000	22,770,000	22,963,000
interest income	44,811,000	42,997,000	43,116,000	43,388,000	39,941,000	38,042,000	35,836,000	31,613,000	30,623,000	29,232,000	28,420,000																					5,000	4,000	254,000	4,000	4,000	157,000	4,000	8,000	80,000	5,000	7,000	193,000	8,000	11,000	17,000	8,000	21,000	3,000	14,000	3,000	7,000	6,000	9,000	7,000	5,000	12,000	12,000	11,000	17,000	11,000	62,000	15,000	2,000	2,000	6,000	11,000			58,000	65,000
miscellaneous income	2,240,000	307,000	1,491,000	741,000	4,602,000	388,000	542,000	200,000	1,207,000	1,600,000	451,000	228,000	242,000	1,591,000	1,033,000	451,000	424,000	374,000	472,000	320,000	394,000	1,992,000	929,000	1,653,000	682,000	238,000	1,203,000	375,000	657,000	603,000	531,000	1,196,000	796,000	2,763,000	691,000
total revenues	311,591,000	282,506,000	276,785,000	279,318,000	276,028,000	252,745,000	243,299,000	239,319,000	242,032,000	250,187,000	218,202,000	144,850,000	239,430,000	244,649,000	249,315,000	249,949,000	281,672,000	257,420,000	273,768,000
yoy	12.88%	11.78%	13.76%	16.71%	14.05%	1.02%	11.50%	65.22%	1.09%	2.26%	-12.48%	-42.05%	-15.00%	-4.96%	-8.93%
qoq	10.30%	2.07%	-0.91%	1.19%	9.21%	3.88%	1.66%	-1.12%	-3.26%	14.66%	50.64%	-39.50%	-2.13%	-1.87%	-0.25%	-11.26%	9.42%	-5.97%
expenses
depreciation and amortization	82,114,000	80,509,000	79,875,000	78,612,000	77,245,000	74,234,000	74,557,000	75,674,000	80,798,000	82,018,000	81,192,000	83,739,000	82,709,000	83,207,000	82,752,000	85,269,000	86,097,000	85,799,000	84,849,000	82,623,000	81,072,000	83,586,000	82,643,000	80,498,000	76,696,000	73,637,000	70,852,000	70,598,000	70,711,000	69,609,000	70,361,000	75,323,000	71,925,000	70,350,000	69,993,000	70,808,000	68,316,000	65,505,000	62,433,000	60,794,000	60,143,000	59,156,000	30,610,000	30,401,000	30,111,000	31,301,000	31,444,000	32,260,000	32,202,000	32,225,000	31,959,000	30,332,000	28,305,000	27,199,000	27,147,000	25,489,000	24,871,000	24,759,000	25,218,000	25,743,000	27,742,000	16,451,000	14,687,000	11,680,000	11,093,000	10,990,000	10,931,000	10,705,000	10,076,000	9,713,000	9,396,000	9,288,000	9,131,000	8,831,000	8,799,000	8,699,000	8,360,000	7,542,000	7,518,000	6,123,000	6,230,000	6,202,000	6,227,000
general and administrative	23,778,000	23,838,000	32,057,000	22,563,000	21,758,000	22,148,000	21,532,000	18,533,000	20,287,000	22,158,000	20,526,000	15,995,000	18,242,000	18,775,000	16,385,000	17,904,000	15,372,000	15,200,000	16,152,000	15,185,000	14,812,000	13,969,000	15,923,000	14,099,000	13,762,000	13,875,000	16,133,000	17,556,000	14,240,000	15,237,000	16,475,000	12,058,000	11,560,000	11,541,000	12,524,000	11,152,000	12,428,000	11,832,000	10,455,000	12,086,000	10,160,000	10,308,000	6,014,000	7,107,000	5,987,000	6,297,000	6,497,000	5,446,000	5,462,000	5,483,000	5,197,000	5,677,000	5,173,000	4,954,000	5,526,000	4,883,000	4,393,000	4,930,000	5,226,000	3,296,000	4,376,000	3,672,000	3,710,000	2,822,000	2,675,000	3,086,000	3,159,000	2,711,000	2,925,000	2,971,000	3,094,000	3,006,000	2,742,000	2,765,000	2,573,000	3,413,000	5,669,000	2,313,000	2,349,000	2,117,000	2,235,000	2,123,000	1,827,000
real estate taxes	3,503,000	3,251,000	3,311,000	3,444,000	3,569,000	3,750,000	3,798,000	3,211,000	3,892,000	3,925,000	3,997,000	4,005,000	4,175,000	3,717,000	3,603,000	3,258,000	3,272,000	3,001,000	2,729,000	2,868,000	2,127,000	3,655,000	3,666,000	3,100,000	3,921,000	4,030,000	3,882,000
acquisition, merger and transition related costs	593,000	2,010,000	1,464,000	795,000	6,437,000	1,780,000	2,603,000	4,158,000	121,000	423,000	639,000	36,348,000	185,000	3,960,000	1,513,000				1,814,000
impairment on real estate properties	1,144,000	14,215,000	1,235,000	1,737,000	8,620,000	8,182,000	5,292,000	3,951,000	27,890,000	21,114,000	38,988,000	17,230,000	10,015,000	7,695,000	3,511,000	2,205,000	4,942,000	8,822,000	28,689,000	28,762,000	28,105,000	11,988,000	3,639,000	35,719,000	3,836,000			3,154,000	22,868,000																											1,373,000
recovery for credit losses	-3,908,000
interest expense	58,115,000	52,897,000	52,280,000	55,240,000	54,690,000	53,966,000	57,820,000	59,429,000	58,778,000	58,776,000	58,546,000	58,489,000	58,238,000	58,372,000	58,145,000	58,225,000	58,979,000	58,879,000	58,521,000	380,721,000	-51,800,000	-52,791,000	-52,741,000	-52,793,000	-49,878,000	-48,380,000	-48,100,000	-48,605,000	-47,764,000	-48,082,000	-48,011,000	-48,253,000	-47,383,000	-48,085,000	-45,041,000	-44,375,000	-42,855,000	-39,651,000	-37,222,000	-38,605,000	-38,169,000	-38,248,000	-32,359,000	-31,968,000	-30,873,000	-29,447,000	-27,081,000	-25,265,000	-24,492,000	-24,952,000	-25,672,000	-24,501,000	-24,050,000	-24,009,000	-22,967,000	-20,981,000	-20,101,000	-20,072,000	-20,000,000	-19,990,000	-19,070,000	-14,705,000	-13,575,000	-9,421,000	-9,171,000	-8,712,000	-8,773,000			-9,745,000	-9,685,000
total expenses	165,339,000	171,949,000	175,314,000	161,671,000	163,258,000	149,888,000	174,072,000	197,869,000	194,499,000	201,381,000	199,831,000	280,102,000	177,670,000	174,163,000	167,733,000	216,571,000	194,173,000	175,073,000	191,177,000
other income
other income – net	16,835,000	13,751,000	3,047,000	-769,000	-1,044,000	3,363,000	5,276,000	11,146,000	5,402,000	1,029,000	2,720,000	-1,259,500	-176,000	-4,407,000	-455,000	-585,000	-767,000	540,000	231,000
loss on debt extinguishment	-7,000			-116,000	-137,000	-213,000	-1,283,000	-486,000			-6,000		-376,000	-7,000	-6,000	-56,000	-642,000	-395,000	-29,670,000
gain on assets sold – net	28,269,000	22,886,000	10,075,000	1,886,000	-238,000	12,911,000	-1,391,000	9,712,000	44,076,000	12,243,000	13,637,000	180,204,000	40,930,000	25,180,000	113,637,000	975,000	56,169,000	4,123,000	100,342,000	5,181,000	-749,000	12,843,000	1,838,000	2,893,000	53,067,000	-267,000	3,000	2,312,000	-5,361,000	-2,891,000	17,500,000	46,421,000	693,000	-622,000	7,420,000	30,277,000	5,139,000	13,221,000	1,571,000	-58,000	-2,391,000	8,802,000			-20,000		2,883,000			-1,151,000		2,826,000	1,689,000	1,968,000	5,316,000	-133,000	1,803,000							777,000		-24,000		2,963,000	11,806,000		46,000					297,000	1,188,000
total other income	45,097,000	36,637,000	13,122,000	1,001,000	-1,419,000	16,061,000	2,602,000	20,372,000	49,478,000	13,272,000	16,351,000	183,245,000	40,378,000	20,766,000	113,176,000	334,000	54,760,000	4,268,000	70,903,000	171,231,000	-55,221,000	-55,110,000	-56,006,000	-54,765,000	-52,157,000		-49,975,000	-37,516,000	-51,189,000	-49,265,000	-49,610,000	-50,415,000	-49,512,000	-72,260,000	-37,066,000			-41,857,000	-39,666,000	-61,128,000	-40,021,000	-39,051,000	-42,896,000	-33,281,000	-30,488,000	-33,021,000	-30,035,000	-25,944,000	-25,188,000	-14,524,000	-26,351,000			-22,970,000	-30,697,000	-16,308,750	-23,773,000						-14,538,000	-10,201,000	-9,859,000	-9,732,000						-8,328,250	-10,535,000	-10,515,000
income before income tax expense and income from unconsolidated entities	191,349,000
income tax expense	-4,483,000	-4,528,000	-3,611,000	-2,981,000	-3,316,000	-1,980,000		-4,163,000	-1,758,000	-1,626,000		-1,026,000	-1,191,000	-1,119,000	-1,225,000	-967,000	-976,000	-939,000	-958,000	-2,299,000	-763,000	-858,000	-1,005,000	-893,000	-483,000	-793,000	-675,000	-825,000	-804,000	-838,000	-543,000				-1,100,000
income from unconsolidated entities	-1,910,000
net income	184,956,000	140,479,000	112,060,000	116,465,000	114,914,000	117,079,000	69,346,000	56,522,000	93,908,000	61,521,000	36,845,000	46,706,000	105,064,000	91,915,000	195,156,000	34,238,000	142,835,000	86,863,000	164,366,000	63,074,000	-93,768,000	101,960,000	92,279,000	61,146,000	142,948,000	75,671,000	72,182,000	64,903,000	59,062,000	81,986,000	87,933,000	65,156,000	-137,515,000	68,157,000	109,112,000	129,883,000	82,134,000	113,154,000	58,196,000	63,543,000	83,254,000	43,466,000	320	450	480	370	450	172,519,920	320	420	340	33,923,000	30,119,000	30,572,000	26,084,000	19,293,000	21,436,000	17,790,000	-5,913,000	4,969,000	17,007,000	15,509,000	20,951,000	16,239,000	21,138,000	19,822,000	24,912,000	15,709,000	28,072,000	17,122,000	17,234,000	17,316,000	15,349,000	16,050,000	20,659,000	13,409,000	14,623,000	11,261,000	6,881,000	20,007,000	5,119,000	2,257,000	9,304,000
yoy	60.95%	19.99%	61.60%	106.05%	22.37%	90.31%	88.21%	21.02%	-10.62%	-33.07%	-81.12%	36.42%	-26.44%	5.82%	18.73%	-45.72%	-252.33%	-14.81%	78.12%	3.15%	-165.60%	34.74%	27.84%	-5.79%	142.03%	-7.70%	-17.91%	-0.39%	-142.95%	20.29%	-19.41%	-49.83%	-267.43%	-39.77%	87.49%	104.40%	-1.35%	160.33%	18186150.00%	14120566.67%	17344483.33%	11747467.57%	-28.89%	-100.00%	50.00%	-11.90%	32.35%	408.56%	-100.00%	-100.00%	-100.00%	75.83%	40.51%	71.85%	-541.13%	288.27%	26.04%	14.71%	-128.22%	-69.40%	-19.54%	-21.76%	-15.90%	3.37%	-24.70%	15.77%	44.55%	-9.28%	82.89%	6.68%	-16.58%	29.14%	4.96%	42.53%	200.23%	-32.98%	185.66%	398.94%	-26.04%
qoq	31.66%	25.36%	-3.78%	1.35%	-1.85%	68.83%	22.69%	-39.81%	52.64%	66.97%	-21.11%	-55.55%	14.31%	-52.90%	470.00%	-76.03%	64.44%	-47.15%	160.59%	-167.27%	-191.97%	10.49%	50.92%	-57.23%	88.91%	4.83%	11.22%	9.89%	-27.96%	-6.76%	34.96%	-147.38%	-301.76%	-37.53%	-15.99%	58.14%	-27.41%	94.44%	-8.41%	-23.68%	91.54%	13583025.00%	-28.89%	-6.25%	29.73%	-17.78%	-100.00%	53912375.00%	-23.81%	23.53%	-100.00%	12.63%	-1.48%	17.21%	35.20%	-10.00%	20.49%	-400.86%	-219.00%	-70.78%	9.66%	-25.97%	29.02%	-23.18%	6.64%	-20.43%	58.58%	-44.04%	63.95%	-0.65%	-0.47%	12.82%	-4.37%	-22.31%	54.07%	-8.30%	29.86%	63.65%	-65.61%	290.84%	126.81%	-75.74%
net income margin %	59.36%	49.73%	40.49%	41.70%	41.63%	46.32%	28.50%	23.62%	38.80%	24.59%	16.89%	32.24%	43.88%	37.57%	78.28%	13.70%	50.71%	33.74%	60.04%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
net income attributable to noncontrolling interest	-5,237,000	-3,880,000	-3,028,000	-3,124,000	-3,152,000	-3,217,000	-1,985,000	-1,521,000	-2,527,000	-1,665,000	-903,000	-1,127,000	-2,790,000	-2,448,000	-5,549,000			-2,340,000	-4,388,000			-2,653,000	-2,364,000	-1,606,000	-4,208,000	-2,530,000	-2,480,000			-3,450,000	-3,713,000			-2,900,000	-4,672,000	-5,624,000	-3,585,000	-5,102,000	-2,641,000	-2,901,000	-3,852,000	-2,038,000
net income available to common stockholders	179,719,000	136,599,000	109,032,000	113,341,000	111,762,000	113,862,000	67,361,000	55,001,000	91,381,000	59,856,000	35,942,000	45,579,000	102,274,000	89,467,000	189,607,000	33,291,000	138,947,000	84,523,000	159,978,000	61,396,000	-91,291,000	99,307,000	89,915,000	59,540,000	138,740,000	73,141,000	69,702,000	62,216,000	56,606,000	78,536,000	84,220,000	62,400,000	-131,678,000	65,257,000	104,440,000	124,259,000	78,549,000	108,052,000	55,555,000	60,642,000	79,402,000	41,428,000	43,052,000	56,990,000	61,713,000	46,817,000	55,829,000	47,206,000	38,137,000	49,058,000	38,120,000	33,923,000	30,119,000	30,572,000	26,084,000	19,293,000	21,436,000		-11,076,000
earnings per common share available to common stockholders:
basic:
diluted:
(recovery) provision for credit losses		-4,771,000		-720,000	-9,061,000	-14,172,000					-4,057,000
income before income tax expense and income from unconsolidated joint ventures		147,194,000	114,593,000	118,648,000	111,351,000	118,918,000		61,822,000	97,011,000	62,078,000		47,993,000	102,138,000	91,252,000	194,758,000	33,712,000	142,259,000	86,615,000	153,494,000	63,884,000	-94,697,000	101,416,000	91,724,000
income from unconsolidated joint ventures		-2,187,000	1,078,000	798,000	6,879,000	141,000	98,000	-1,137,000	-1,345,000	1,069,000	831,000	-261,000	4,117,000	1,782,000	1,623,000	1,493,000	1,552,000	1,187,000	11,830,000	1,489,000	1,692,000	1,402,000	1,560,000	919,000	8,428,000	943,000
provision for credit losses			5,092,000					32,913,000	2,733,000			64,296,000	4,106,000
provision (recovery) for credit losses							8,470,000			12,967,000					1,824,000
income before income tax benefit and income from unconsolidated joint ventures							71,829,000				34,722,000
income tax benefit							-2,581,000				1,292,000
income from direct financing leases								252,000	254,000	254,000	254,000	255,000	256,000	256,000	256,000	257,000	257,000	257,000	258,000	258,000	258,000	259,000	258,000	259,000	258,000	259,000	260,000	262,000	264,000	497,000	613,000	614,000	614,000	15,462,000	15,646,000	15,724,000	15,611,000	15,521,000	15,442,000	15,354,000	15,216,000	15,020,000	14,346,000	14,278,000	14,211,000	14,146,000	14,084,000
mortgage interest income												14,345,000	17,234,000	19,597,000	20,549,000	20,968,000	23,047,000	24,021,000	23,625,000	24,044,000	24,013,000	21,680,000	19,685,000	19,780,000	19,796,000	18,832,000	18,134,000	18,503,000	18,396,000	16,834,000	16,579,000	17,029,000	16,920,000	16,297,000	15,956,000	15,838,000	15,996,000	21,371,000	16,606,000	17,574,000	17,195,000	17,562,000	16,579,000	16,875,000	16,883,000	9,923,000	9,326,000	7,281,000	7,289,000	7,435,000	7,346,000	8,029,000	7,677,000	7,404,000	7,336,000	5,726,000	3,617,000	3,433,000	3,498,000	2,682,000	2,576,000	2,519,000	2,614,000	2,915,000	2,915,000	2,895,000	2,876,000	3,026,000	3,007,000	2,550,000	979,000	992,000	999,000	888,000	1,009,000	1,010,000	1,054,000	1,154,000	1,184,000	2,110,000	1,221,000	1,240,000	1,956,000
other investment income												9,120,250	14,110,000	11,777,000	10,594,000	10,476,000	10,780,000	11,813,000	11,652,000	11,994,000	11,286,000	10,932,000	10,652,000	10,364,000	9,989,000	11,133,000	11,914,000	12,345,000	10,259,000	9,097,000	8,527,000
																505,250	2,021,000
recovery on direct financing leases																-179,250		-164,000	-553,000
(recovery) benefit from credit losses														-1,563,000					-1,024,000
benefit from credit losses																49,710,000	25,511,000	3,536,000		4,420,000	32,076,000	15,000	1,486,000
net (income) loss attributable to noncontrolling interest																-2,654,000	-3,888,000											-2,404,750	-2,456,000
other comprehensive income:
foreign currency translation																-725,250	-5,027,000
cash flow hedges																4,382,250	1,895,000
total other comprehensive income																3,657,000	-3,132,000
comprehensive income																102,173,000	139,703,000
comprehensive (income) loss attributable to noncontrolling interest																-2,750,000	-3,803,000
comprehensive income attributable to common stockholders																99,423,000	135,900,000																						42,565,000	58,599,000	76,780,000	46,172,000
revenue
total operating revenues																				157,149,000	119,177,000	256,395,000	253,024,000	246,668,000	233,195,000	225,279,000	223,688,000	219,750,000	221,852,000	219,881,000	220,199,000	221,206,000	219,638,000	235,797,000	231,744,000	234,486,000	224,638,000	228,824,000	212,879,000	210,512,000	201,974,000	197,711,000	133,420,000	131,321,000	130,665,000	121,800,000	121,001,000	111,137,000	103,301,000	102,515,000	101,761,000	95,012,000	87,108,000	83,825,000	84,515,000	76,304,000	72,818,000	72,606,000	70,476,000	71,114,000	69,724,000	58,805,000	58,678,000	49,373,000	49,753,000	49,152,000	49,160,000	49,162,000	59,999,000	43,735,000	40,866,000	39,594,000	39,224,000	38,162,000	42,668,000	35,884,000	35,243,000	31,061,000	30,751,000	27,302,000	25,994,000	25,754,000	28,606,000
acquisition and merger related costs																				15,500	36,000	251,000	-225,000	43,000	887,000											-2,000	2,309,000	3,504,000	3,771,000	2,018,000	3,555,000
(recovery) impairment on direct financing leases																				-2,003,000	-324,000	-752,000
total operating expenses																				94,437,000	157,904,000	112,712,000	107,132,000	133,676,000	99,102,000	98,487,000	101,516,000	119,170,000	105,819,000	84,313,000	99,564,000	152,007,000	307,880,000	94,718,000	92,518,000	87,836,000	100,325,000	86,580,000	116,341,000	85,517,000	75,902,000	123,457,000	47,472,000	41,050,000	38,444,000	41,962,000	38,020,000	37,987,000	39,976,000	37,782,000	37,290,000	36,232,000	33,961,000	32,251,000	33,050,000	35,254,000	29,412,000	34,053,000	55,690,000	29,252,000	32,676,000	24,267,000	23,189,000	23,710,000	18,756,000	19,574,000	19,513,000	24,064,000	34,004,000	16,952,000	14,004,000	12,074,000	13,509,000	11,596,000	11,372,000	12,725,000	14,208,000	9,855,000	9,867,000	4,840,000	13,919,000	9,158,000	12,039,000
other operating income
operating income																				66,195,000	-39,476,000	156,526,000	147,730,000	115,885,000	187,160,000	126,525,000	122,175,000
yoy																				-42.88%	-121.09%	23.71%	20.92%
qoq																				-267.68%	-125.22%	5.95%	27.48%	-38.08%	47.92%	3.56%
operating margin %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
interest income and other – net																				-168,750	-82,000	141,000	-734,000	735,000	-25,000	-191,000	337,000				585,000
interest – amortization of deferred financing costs																				-1,846,000	-2,462,000	-2,461,000	-2,461,000	-2,811,000	-2,277,000	-2,238,000	-2,238,000	-2,237,000	-2,238,000	-2,242,000	-2,243,000	-2,243,000	-2,228,000	-2,543,000	-2,502,000	-2,501,000	-2,502,000	-2,210,000	-2,132,000	-1,954,000	-1,857,000	-1,826,000	-1,353,000	-1,348,000	-1,243,000	-946,000	-922,000	-700,000	-699,000	-698,000	-682,000	-679,000	-673,000	-668,000	-629,000	-648,000	-629,000	-703,000	-694,000								-500,000	-501,000	-500,000	-500,000	-500,000	-499,000	-500,000	-500,000
interest – refinancing costs																				-224,000	-896,000													-21,965,000			-1,815,000		-298,000				-9,377,000				-2,040,000								-7,108,000				-16,000
realized gain on foreign exchange																				-12,500	19,000	1,000	-70,000	104,000	23,000		26,000	12,000	27,000	-66,000	59,000	76,000	95,000	79,000	61,000
net income (income) attributable to noncontrolling interest																				-635,000	2,477,000											-433,750	5,837,000
earnings per common share/unit available to common stockholders:
weighted-average shares outstanding, basic																						227,411,000	227,261,000	213,404,000	217,818,000	211,569,000	204,558,000	200,279,000	200,910,000	199,497,000	198,911,000	197,738,000	197,890,000	197,433,000	197,013,000	191,781,000	194,123,000	188,981,000	188,228,000	172,242,000	184,739,000	182,697,000	134,346,000	126,550,000	127,464,000	126,474,000	124,459,000	117,257,000	117,600,000	116,199,000	112,782,000	107,591,000	109,135,000	105,717,000	103,754,000	102,119,000	103,180,000	101,912,000	100,074,000	94,056,000	95,698,000	93,031,000	88,840,000	83,556,000	83,740,000	82,573,000	82,396,000	75,127,000	76,590,000	72,942,000	68,680,000	65,858,000	67,952,000	67,237,000	60,094,000	58,651,000	59,021,000	58,158,000	57,412,000	51,738,000	51,187,000	51,031,000	50,928,000
weighted-average shares outstanding, diluted																						234,523,000	234,506,000	222,125,000	226,513,000	220,479,000	213,523,000	209,711,000	210,437,000	208,460,000	207,816,000	206,790,000	206,662,000	206,672,000	206,174,000	201,635,000	204,078,000	199,157,000	198,350,000	180,508,000	195,183,000	194,482,000	134,806,000	127,294,000	128,428,000	127,436,000	124,822,000	118,100,000	118,462,000	117,022,000	113,522,000	108,011,000	109,667,000	106,033,000	104,012,000	102,177,000	103,231,000	102,001,000	100,086,000	94,237,000	95,987,000	93,153,000	88,961,000	83,649,000	83,858,000	82,674,000	82,478,000	75,213,000	76,702,000	73,038,000	68,747,000	65,886,000	67,965,000	67,261,000	60,118,000	58,745,000	59,446,000	58,237,000	57,474,000	52,059,000	51,479,000	51,365,000	51,313,000
impairment on direct financing leases																								217,000			7,700,000	27,153,000
(recovery) benefit from uncollectible accounts																												1,590,750	-2,000,000
income from continuing operations																								61,120,000	135,003,000	75,521,000	72,200,000	65,093,000	59,483,000	83,412,000	88,525,000	65,205,000	-137,061,000	68,197,000	109,580,000																													16,239,000	21,138,000	19,822,000	24,912,000	15,709,000	28,072,000	17,122,000	16,788,000	17,271,000	15,312,000	16,051,000	19,033,000	13,200,000	14,656,000	11,397,000	7,260,000	12,421,000	3,852,000
acquisition costs																										1,236,000	2,949,000					-5,500		19,000	-41,000							47,084,000	4,868,000	3,549,000	259,000	45,000	95,000	111,000	-9,000	9,000	134,000	223,000	483,000	98,000	105,000	1,159,000			45,000	64,000	78,000	1,192,000	220,000
impairment (recovery) on real estate properties																										5,709,000
provision for uncollectible accounts
realized loss on foreign exchange																										-195,000										12,000	-222,000		-22,000
total other expense																										-51,004,000										-32,190,000	-47,237,000															-19,596,000	-24,717,000					-20,763,000	-20,699,000	-36,893,000	-20,037,000	-19,029,000					-4,735,000	-9,398,000	-9,801,000	-9,661,000	-10,120,000							-9,809,000		-10,041,000	-8,223,000	-10,809,000	-7,239,000
benefit from uncollectible accounts																														564,000	7,814,000	3,416,750	11,899,000	2,673,000	2,404,000
income from unconsolidated joint venture																											657,000	635,000	383,000	-588,000	-49,000	509,000	545,000	551,000	632,000
income before other income and expense																												93,059,000	116,033,000	135,568,000	120,635,000	69,199,000	-88,242,000	141,079,000	139,226,000	146,650,000	124,313,000	142,244,000	96,538,000	124,995,000	126,072,000	74,254,000	85,948,000	90,271,000	92,221,000	79,838,000	82,981,000	73,150,000	63,325,000	64,733,000	64,471,000	58,780,000	53,147,000	51,574,000	51,465,000	41,050,000	43,406,000	38,553,000	14,786,000	41,862,000	37,048,000	34,538,000	35,489,000	25,663,000	30,997,000	29,578,000	29,647,000	25,098,000	25,995,000	26,783,000	26,862,000	27,520,000	25,715,000	26,566,000	31,296,000	23,159,000	21,035,000	21,206,000	20,884,000	22,462,000	12,075,000	16,596,000	16,567,000
interest income and other - net																												-183,000	-1,214,000	1,125,000
contractual settlement																																			10,412,000
income before gain on assets sold																												55,543,000	64,844,000	86,303,000	71,025,000	18,784,000	-137,754,000	68,819,000	102,160,000	99,790,000	77,076,000	100,387,000	56,872,000	63,867,000	86,051,000	35,203,000	43,052,000	56,990,000	61,733,000	46,817,000	52,946,000	47,206,000	38,137,000	50,209,000	38,120,000	31,097,000	28,430,000	28,604,000	20,768,000	19,426,000	19,633,000							15,462,000	21,138,000	19,846,000	24,912,000	12,514,500	16,194,000	17,122,000	16,742,000	12,548,750	15,180,000			13,808,000	14,068,000
(recovery) impairment on real estate properties																														-1,097,000
dividends declared per common share																														660	660	472.5	640	630	620	437.5	600	580	570				890
impairment loss on real estate properties																															4,914,000	63,460,000	17,837,000	10,135,000	7,638,000		17,275,000	6,893,000	34,558,000	3,040,000	1,743,000	6,916,000	5,982,000	915,000	2,102,000	1,558,000						68,000			272,000				24,971,000	38,750		155,000		39,750	89,000		70,000	421,000	170,000		1,514,000
income per common share available to common stockholders:
other investment income – net																																7,788,000	7,245,000	7,278,000	6,914,000	5,052,000	7,194,000	5,478,000	4,128,000	2,292,000	2,940,000	2,017,000	1,531,000	1,421,000	2,035,000	1,489,000	1,421,000	3,533,000	2,175,000	1,860,000	1,306,000	1,227,000	1,238,000	1,165,000	1,130,000	429,000	383,000	617,000	641,000	654,000	746,000	1,790,000	746,000	658,000	694,000	539,000	611,000	500,000	313,000	582,000	636,000	485,000	962,000	729,000		719,500	994,000
impairment loss on direct financing leases																																231,000	194,659,000
income taxes																																-672,500	-999,000	-591,000		-195,500	-81,000	-454,000	-247,000	-266,000	-406,000	-539,000																										18,000	72,000
(recovery) provision for uncollectible mortgages, notes and accounts receivable																																				991,750	-3,000
income from continuing operations before income taxes																																				63,566,500	82,215,000	113,608,000	58,443,000	63,809,000	83,660,000	44,005,000																						16,239,000	21,138,000			15,709,000	28,000,000			17,396,000	15,180,000	16,051,000	19,033,000	13,808,000	15,256,000
(recovery) benefit from uncollectible mortgages, notes and accounts receivable																																						-1,154,000
interest – refinancing gain																																								-2,090,250		1,016,000		-767,000	1,617,000					11,112,000
provisions for uncollectible mortgages, notes and accounts receivable																																							5,124,000	7,579,000	301,000	-7,000	-2,000	-7,000	-15,000	2,761,000	-16,000	-245,000	2,321,000	65,000						2,300,000		4,139,000
other comprehensive loss - foreign currency translation																																							-4,730,000	-4,463,000	-6,789,000
other comprehensive loss - cash flow hedges																																							-8,876,000
total comprehensive income																																							44,590,000	58,362,000	76,465,000	46,305,000														8,328,250	21,436,000	17,790,000	-5,913,000	4,969,000	17,007,000	15,471,000	20,989,000	16,239,000	21,138,000	19,822,000	24,912,000	15,709,000	28,072,000	17,122,000	17,234,000	17,316,000	15,349,000	16,050,000	20,659,000	12,278,000	12,711,000	12,142,000	7,580,000	20,661,000	5,849,000	2,257,000	7,343,000
deduct: comprehensive income attributable to noncontrolling interest																																							-2,025,000
add: comprehensive income attributable to noncontrolling interest																																								45,500	315,000
dividends declared and paid per common share																																								405	550	180		375	510	500	490	345	470	460	450	312.5	420	420	410	287.5	400	380	370	370	360	320	320	300	300	300	300	300	300	300	290	270	280	270	260	250	240	240	230	220	220	210	200
other comprehensive income - foreign currency translation																																										2,839,000
less: comprehensive income attributable to noncontrolling interest																																										-133,000
income per common share available to common shareholders:
interest – refinancing (costs) gain																																														-2,645,000
miscellaneous																																															252,000			151,000		537,000	23,000	28,000	74,000	78,000	196,000	69,000		34,000	103,000	20,000	3,729,000	73,000	160,000	130,000	74,000	94,000	73,000	829,000	1,238,000	148,000	150,000	353,000	137,000	49,000	42,000	332,000	109,000	6,000	141,000	1,146,000	3,165,000
nursing home expenses of owned and operated assets																																																								50,000	148,000	225,000	230,000	149,000	480,000	2,797,000	4,572,000	4,882,000	4,899,000	5,498,000	5,353,000	6,768,000	20,833,000
interest – loss on extinguishment of debt																																																				-1,352,500
preferred stock dividends																																																											-1,691,000	-2,272,000	-2,271,000	-2,272,000	-2,271,000	-2,272,000	-2,271,000	-2,272,000	-2,271,000	-2,272,000	-2,480,000	-2,481,000	-2,481,000	-2,481,000	-2,480,000	-2,481,000				-2,481,000		-2,481,000	-2,481,000	-2,864,000	-3,559,000
preferred stock redemption																																																										16,000	-3,472,000
interest – gain on extinguishment of debt																																																						1,698,000
nursing home revenues of owned and operated assets																																																														2,956,000	4,380,000	4,885,000	4,758,000	4,363,000	4,424,000	4,829,000	19,341,000
other income:
interest –refinancing costs																																																								-767,750	-3,055,000
components of other comprehensive income:
net income available to common																																																										17,806,000		11,663,250	14,736,000	13,237,000	18,680,000	14,764,500	18,867,000	17,550,000		13,746,500	25,592,000	14,641,000		11,154,000	12,869,000	13,569,000	18,178,000	10,928,000	12,143,000	8,780,000	4,400,000	17,526,000	2,638,000	-2,620,000	5,745,000
unrealized loss on other investments																																																														-38,000
unrealized gain on other investments																																																															38,000
interest – amortization of deferred financing and refinancing costs																																																												-1,585,500	-978,000	-4,386,000	-978,000	-554,000	-690,000	-1,026,000
litigation settlements																																																																			4,527,000			526,000
income before loss on assets sold																																																												13,367,750	17,011,000	15,509,000
loss on assets sold – net																																																												-1,000	-4,000
benefit from uncollectible accounts receivable
discontinued operations																																																																							446,000	45,000	37,000	-1,000	1,626,000
net income available to common shareholders																																																																			22,641,000				14,753,000
provision for uncollectible accounts receivable																																																																				1,067,000		4,268,000
interest and other investment income																																																																				49,250	74,000			33,500	36,000	58,000	40,000	42,000	189,000	69,000	113,000	130,000	25,000	24,000	41,000
interest																																																																				-7,201,250	-9,375,000			-7,997,000	-10,071,000	-10,073,000				-9,447,000		-5,357,750	-7,709,000	-6,948,000	-6,774,000
income per common share:
benefit from impairment on real estate properties																																																																								409,000	1,636,000
benefit from uncollectible mortgages, notes and accounts receivable
gain on sale of equity securities																																																																													2,709,000
change in fair value of derivatives																																																																												-593,000	1,764,000
gain on assets sold - net
benefit from income taxes																																																																								33,000	132,000
unrealized gain on common stock investment
reclassification adjustment for gain on common stock investment
unrealized loss on preferred stock investment
other investment income - net																																																																											645,000			533,000	525,000	661,000	670,000	598,000	522,000
interest - amortization of deferred financing costs																																																																														-431,000		-551,000	-539,000	-525,000	-506,000
interest - refinancing costs
provision for income taxes
provision for impairment on real estate properties
provision for uncollectible mortgages, notes and accounts receivable																																																																												44,750	179,000					83,000
leasehold expiration expense																																																																																300,000		750,000
provision for impairment on equity securities																																																																																		-3,360,000
(loss) from discontinued operations																																																																														-136,000
preferred stock conversion and redemption charges																																																																																		-2,013,000
income (loss) per common share:
unrealized gain on investments																																																																														881,000
loss from discontinued operations																																																																																			-24,000
unrealized gain on investments and hedging contracts																																																																															699,000	182,500	730,000
provisions for impairment on real estate properties																																																																																2,288,500	5,454,000
provisions for impairment on equity securities
owned and operated professional liability claims
adjustment of derivatives to fair value
gain (loss) from discontinued operations																																																																																-262,250	1,267,000
income (loss) from continuing operations																																																																																190	30	5,787,000	9,328,000
(loss) gain from discontinued operations																																																																																		-3,530,000
restricted stock expense																																																																																			285,000
provisions for impairment																																																																																			3,700,000
adjustment of derivative to fair value
unrealized gain on investment and hedging contracts																																																																																			-1,961,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-09-30	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	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31

assets
real estate assets
buildings and improvements	7,886,427,000	7,883,685,000	7,499,035,000	7,342,497,000	7,266,469,000	6,925,123,000	6,866,358,000	6,863,177,000	7,119,240,000	7,398,122,000	7,303,014,000	7,347,853,000	7,217,231,000	7,447,278,000	7,477,855,000	7,448,126,000
land	1,179,215,000	1,178,725,000	1,087,663,000	996,701,000	972,602,000	876,762,000	865,028,000	866,866,000	901,282,000	928,318,000	926,180,000	923,605,000	908,424,000	928,174,000	937,235,000	916,328,000
furniture and equipment	538,199,000	539,342,000	519,025,000	510,106,000	503,499,000	473,021,000	467,178,000	466,291,000	471,164,000	499,102,000	498,334,000	499,902,000	498,473,000	515,629,000	516,410,000	511,271,000
construction in progress	10,532,000	9,449,000	6,820,000	210,870,000	201,360,000	185,487,000	162,269,000	138,410,000	120,243,000	107,983,000	94,698,000	88,904,000	84,884,000	80,273,000	77,633,000	74,062,000
total real estate assets	9,614,373,000	9,611,201,000	9,112,543,000	9,060,174,000	8,943,930,000	8,460,393,000	8,360,833,000	8,334,744,000	8,611,929,000	8,933,525,000	8,822,226,000	8,860,264,000	8,709,012,000	8,971,354,000	9,009,133,000	8,949,787,000
less accumulated depreciation	-2,872,249,000	-2,816,053,000	-2,779,419,000	-2,721,016,000	-2,652,372,000	-2,583,159,000	-2,526,536,000	-2,458,809,000	-2,419,324,000	-2,444,149,000	-2,384,191,000	-2,322,773,000	-2,246,659,000	-2,286,945,000	-2,212,183,000	-2,160,696,000	-2,174,546,000	-2,139,100,000	-2,069,822,000	-1,996,914,000	-1,974,038,000	-1,902,587,000	-1,846,992,000	-1,787,425,000	-1,729,844,000	-1,689,438,000	-1,631,673,000	-1,562,619,000	-1,515,846,000	-1,475,463,000	-1,420,332,000	-1,376,828,000	-1,432,154,000	-1,366,376,000	-1,306,084,000	-1,240,336,000	-1,186,077,000	-1,131,288,000	-1,067,023,000	-1,019,150,000	-958,533,000	-898,734,000	-847,240,000	-821,712,000	-794,105,000	-768,276,000	-738,708,000	-707,410,000	-675,685,000	-643,514,000	-612,302,000	-580,373,000	-550,381,000	-522,107,000	-494,936,000	-470,420,000	-445,272,000	-420,651,000	-395,918,000	-380,995,000	-355,274,000	-327,536,000	-311,106,000	-296,441,000	-284,782,000	-273,721,000	-262,762,000	-251,854,000	-242,674,000	-232,625,000	-222,998,000	-221,366,000	-212,634,000	-205,761,000	-196,957,000	-188,188,000			-164,438,000	-157,255,000	-151,410,000	-150,190,000	-158,439,000
real estate assets – net	6,742,124,000	6,795,148,000	6,333,124,000	6,339,158,000	6,291,558,000	5,877,234,000	5,834,297,000	5,875,935,000	6,192,605,000	6,489,376,000	6,438,035,000	6,537,491,000	6,462,353,000	6,684,409,000	6,796,950,000	6,789,091,000
investments in direct financing leases – net				9,453,000	9,450,000	9,437,000	8,873,000	8,716,000	8,984,000	8,995,000	8,670,000	8,503,000	10,560,000	10,881,000	10,849,000	10,873,000	10,762,000	10,807,000	10,757,000	10,764,000	10,858,000	10,870,000	10,850,000	11,488,000	11,711,000	11,709,000	11,707,000	132,262,000	163,467,000	349,465,000	364,932,000	364,965,000	364,997,000	582,307,000	604,777,000	601,938,000	597,779,000	593,646,000	590,622,000	587,701,000	584,333,000
real estate loans receivable – net	1,415,229,000	1,416,820,000	1,406,189,000	1,428,298,000	1,323,469,000	1,378,798,000	1,246,528,000	1,212,162,000	1,121,460,000	1,096,806,000	1,061,869,000	1,042,731,000
investments in unconsolidated entities	150,298,000
assets held for sale		12,358,000		56,194,000	75,973,000	76,627,000	81,546,000	93,707,000	67,530,000	1,400,000	25,766,000	9,456,000	190,723,000	61,624,000	92,762,000	261,151,000	21,528,000	35,335,000																											6,670,000
total real estate investments	8,307,651,000	8,309,755,000	7,828,004,000	7,921,814,000	7,793,048,000	7,527,366,000	7,357,181,000	7,378,929,000	7,578,120,000	7,788,244,000	7,715,679,000	7,777,101,000
non-real estate loans receivable – net	339,683,000	333,340,000	329,656,000	332,274,000	335,717,000	234,562,000	269,342,000	275,615,000	245,001,000	227,916,000	189,880,000	225,281,000
total investments	8,647,334,000	8,643,095,000	8,157,660,000	8,254,088,000	8,128,765,000	7,761,928,000	7,626,523,000	7,654,544,000	7,823,121,000	8,016,160,000	7,905,559,000	8,002,382,000	8,117,915,000	8,213,078,000	8,419,318,000	8,560,772,000	8,628,217,000	8,649,112,000	8,749,480,000	8,350,849,000	8,405,959,000	8,502,971,000	8,511,055,000	8,607,654,000	7,824,021,000	7,944,815,000	7,406,612,000	7,563,571,000	7,618,088,000	7,562,780,000	7,709,298,000	7,714,886,000	7,905,370,000	7,945,681,000	7,844,350,000	7,925,793,000	7,998,388,000	7,627,800,000	7,550,549,000	7,088,202,000	7,118,093,000	6,967,430,000	3,637,527,000	3,651,128,000	3,592,050,000	3,600,110,000	3,311,741,000	3,217,507,000	2,702,434,000	2,724,769,000	2,724,611,000	2,745,160,000	2,528,809,000	2,330,858,000	2,328,638,000	2,360,712,000	2,046,021,000	2,062,329,000	2,079,363,000	2,123,823,000	2,119,360,000	2,135,525,000	1,515,095,000	1,507,302,000	1,231,701,000	1,236,151,000	1,240,098,000	1,250,993,000	1,235,600,000	1,216,363,000	1,100,803,000	1,101,598,000				1,106,509,000	1,130,377,000	949,967,000	963,923,000	968,127,000	810,372,000	820,668,000	784,287,000	802,952,000
cash and cash equivalents	737,186,000	734,184,000	367,957,000	518,340,000	342,444,000	35,193,000	361,773,000	442,810,000	554,705,000	350,691,000	245,182,000	297,103,000	134,855,000	164,949,000	491,247,000	20,534,000	102,664,000	100,824,000	51,376,000	163,535,000	35,951,000	37,022,000	347,965,000	24,117,000	40,860,000	32,766,000	40,028,000	10,300,000	9,768,000	10,951,000	71,231,000	85,937,000	24,318,000	21,031,000	40,349,000	93,687,000	32,567,000	32,959,000	9,407,000	5,424,000	15,319,000	25,154,000	700,143,000	4,489,000	452,000	28,689,000	20,374,000	2,616,000	67,757,000	7,039,000	25,611,000	1,711,000	6,951,000	2,861,000	2,717,000	351,000	10,730,000	4,996,000	3,381,000	6,921,000	1,192,000	1,957,000	75,194,000	2,170,000	646,000	4,923,000	10,215,000	209,000	3,790,000	2,165,000	1,516,000	1,979,000	608,000	2,484,000	2,655,000	729,000		14,053,000	403,000	3,948,000	768,000	534,000	9,846,000	12,083,000
restricted cash	37,818,000	38,400,000	36,115,000	30,395,000	17,866,000	3,938,000	1,253,000	1,920,000	3,212,000	5,820,000	3,336,000	3,541,000	3,323,000	3,515,000	3,534,000	3,877,000	3,341,000	3,736,000	4,522,000	4,023,000	4,164,000	4,543,000	4,057,000	9,263,000	1,372,000	1,372,000	1,372,000	1,371,000	1,371,000	2,598,000	7,868,000	10,871,000	10,596,000	12,203,000	12,198,000	13,589,000	12,282,000	13,833,000	12,327,000	14,607,000	23,399,000	21,545,000	27,880,000	29,076,000	31,821,000	34,781,000	28,817,000	31,759,000	28,781,000	40,127,000	34,377,000	36,660,000	32,923,000	36,479,000	34,393,000	34,112,000	19,835,000	20,609,000	20,180,000	22,399,000	21,151,000	21,730,000	9,672,000	9,486,000	6,678,000	6,602,000	6,447,000	6,294,000	5,048,000	5,091,000	3,754,000	2,104,000	3,698,000	4,201,000	4,016,000	4,117,000
contractual receivables – net	12,558,000	11,552,000	14,036,000	12,611,000	10,337,000	10,360,000	10,973,000	11,888,000	9,511,000	8,837,000	7,999,000	8,228,000	9,945,000	10,357,000	13,172,000	11,259,000	16,658,000	10,948,000	11,428,000	10,408,000	10,757,000	27,579,000	27,429,000	27,122,000	27,617,000	25,903,000	33,346,000
other receivables and lease inducements	265,917,000	257,133,000	263,008,000	249,317,000	241,399,000	230,428,000	223,281,000	214,657,000	199,530,000	200,650,000	190,842,000	177,798,000	266,890,000	270,013,000	269,992,000	251,815,000	236,964,000	229,509,000	236,669,000	234,666,000	226,413,000	403,313,000	398,621,000	381,091,000	355,410,000	342,030,000	338,177,000
goodwill	644,637,000	644,888,000	644,063,000	643,664,000	644,588,000	643,786,000	643,778,000	643,897,000	643,335,000	643,862,000	643,500,000	643,151,000	648,948,000	649,966,000	651,024,000	651,417,000	651,354,000	651,697,000	651,679,000	651,737,000	644,084,000	643,491,000	643,536,000	644,415,000	643,456,000	643,875,000	644,190,000	643,950,000	644,201,000	644,369,000	645,214,000	644,690,000	644,571,000	644,184,000	643,692,000	643,474,000	644,129,000	644,481,000	645,568,000	645,683,000	554,749,000	543,093,000
other assets	250,551,000	217,224,000	222,899,000	189,476,000	186,472,000	162,913,000	144,267,000	147,686,000	191,899,000	178,013,000	293,788,000	272,960,000	293,829,000	209,267,000	166,318,000	138,804,000	140,751,000	113,228,000	117,648,000	82,231,000	71,261,000	68,665,000	104,568,000	102,462,000	103,458,000	107,659,000	56,341,000	24,308,000	31,711,000	33,301,000	39,305,000	37,587,000	36,045,000	34,869,000	29,023,000	32,682,000	69,772,000	73,389,000	189,332,000	61,231,000	683,066,000	67,417,000	55,593,000	68,776,000	70,551,000	72,034,000	65,130,000	62,830,000	73,380,000	69,802,000	89,784,000	73,294,000	71,396,000	68,822,000	66,314,000	61,473,000	58,189,000	58,455,000	58,698,000	57,172,000	60,440,000	47,803,000	53,943,000	50,778,000	12,145,000	12,886,000	14,742,000	18,613,000	20,567,000	16,956,000	12,357,000	11,614,000	11,933,000	13,036,000	14,290,000	12,821,000	13,189,000	13,998,000	14,091,000	37,769,000	12,992,000	28,202,000	15,198,000	12,733,000
total assets	10,596,001,000	10,546,476,000	9,705,738,000	9,897,891,000	9,571,871,000	8,848,546,000	9,011,848,000	9,117,402,000	9,425,313,000	9,404,033,000	9,290,206,000	9,405,163,000	9,475,705,000	9,521,145,000	10,014,605,000	9,638,478,000	9,779,949,000	9,759,054,000	9,822,802,000	9,497,449,000	9,398,589,000	9,687,584,000	10,037,231,000	9,796,124,000	8,996,194,000	9,098,420,000	8,520,066,000	8,590,877,000	8,641,964,000	8,574,139,000	8,792,629,000	8,773,305,000	8,890,646,000	8,946,654,000	8,842,118,000	8,949,260,000	8,982,363,000	8,606,498,000	8,615,452,000	8,019,009,000	8,593,483,000	7,813,676,000	4,598,020,000	3,921,645,000	3,857,502,000	3,889,359,000	3,578,925,000	3,462,216,000	3,014,778,000	2,979,796,000	3,004,641,000	2,982,005,000	2,759,440,000	2,551,862,000	2,538,803,000	2,557,312,000	2,231,665,000	2,240,979,000	2,257,927,000	2,304,007,000	2,293,558,000	2,296,445,000	1,741,386,000	1,655,033,000	1,336,393,000	1,343,850,000	1,354,802,000	1,364,467,000	1,353,923,000	1,306,742,000	1,183,727,000	1,182,287,000	1,190,893,000	1,171,495,000	1,172,914,000	1,175,370,000	1,183,054,000	984,360,000	984,912,000	1,015,729,000	828,910,000	853,445,000	813,973,000	833,563,000
liabilities and equity
revolving credit facility						70,226,000	20,213,000	20,397,000	19,530,000	20,342,000	19,784,000	19,246,000	17,861,000	38,000,000	354,888,000
secured borrowings	253,089,000	260,942,000	248,288,000	243,310,000	265,239,000		20,145,000	61,963,000	289,615,000	360,775,000	364,773,000	366,596,000	368,405,000	377,823,000	379,644,000	362,081,000	363,963,000	365,831,000	367,685,000	369,524,000	371,351,000	385,976,000	387,835,000	389,680,000																		263,068,000	93,719,000	251,454,000	256,403,000	295,490,000	297,016,000	298,531,000	300,034,000	301,526,000	365,428,000	366,538,000	286,016,000	287,339,000	302,221,000	303,610,000	198,526,000	199,454,000	200,378,000	201,296,000	302,210,000	302,821,000	100,000,000	159,354,000
senior notes and other unsecured borrowings – net	4,741,457,000	4,739,491,000	4,197,975,000	4,595,549,000	4,592,963,000	4,590,378,000	4,987,794,000	4,984,956,000	4,982,127,000	4,905,761,000	4,903,377,000	4,900,992,000	4,898,609,000	4,896,223,000	4,893,839,000	4,891,455,000	4,909,090,000	4,906,734,000	4,855,286,000	4,512,221,000	3,828,609,000	3,826,799,000	3,818,531,000	3,816,722,000	3,822,115,000	3,331,905,000	3,330,400,000	3,328,896,000	3,327,393,000
accrued expenses and other liabilities	357,390,000	357,036,000	327,452,000	328,193,000	313,370,000	287,354,000	283,103,000	287,795,000	276,711,000	304,563,000	316,661,000	315,047,000	295,454,000	268,387,000	256,390,000	268,516,000	260,630,000	266,818,000	256,338,000	280,824,000	277,596,000	284,959,000	288,745,000	312,040,000	282,477,000	300,303,000	271,902,000	272,172,000	253,560,000	257,049,000	262,573,000	295,142,000	285,690,000	323,543,000	316,985,000	360,514,000	361,596,000	329,368,000	328,932,000	333,706,000	267,690,000	271,584,000	199,691,000	141,815,000	149,745,000	145,951,000	132,456,000	137,695,000	124,733,000	135,835,000	133,193,000	145,744,000	149,981,000	126,196,000	125,916,000	127,428,000	114,438,000	110,487,000	117,317,000	121,859,000	122,739,000	108,077,000	52,893,000	49,895,000	27,106,000	24,691,000	26,777,000	25,420,000	26,265,000	25,100,000	25,460,000	22,378,000	26,567,000	25,953,000	26,771,000	28,037,000	27,813,000	22,399,000	24,262,000	19,563,000	22,294,000	19,477,000	26,557,000	21,067,000
total liabilities	5,351,936,000	5,357,469,000	4,773,715,000	5,167,052,000	5,171,572,000	4,947,958,000	5,311,255,000	5,355,111,000	5,567,983,000	5,591,441,000	5,604,595,000	5,601,881,000	5,580,329,000	5,580,433,000	5,884,761,000	5,530,252,000	5,542,481,000	5,549,028,000	5,674,472,000	5,460,842,000	5,460,175,000	5,520,192,000	5,818,586,000	5,459,530,000	4,912,732,000	5,045,914,000	4,714,424,000	4,826,393,000	4,855,998,000	4,719,824,000	4,922,229,000	4,885,047,000	4,947,807,000	4,771,144,000	4,627,596,000	4,737,274,000	4,807,172,000	4,504,568,000	4,562,919,000	3,918,144,000	4,528,832,000	3,736,360,000	2,827,067,000	2,520,318,000	2,451,125,000	2,505,564,000	2,223,578,000	2,162,113,000	1,824,780,000	1,842,500,000	1,898,887,000	1,970,676,000	1,738,520,000	1,616,187,000	1,655,920,000	1,678,828,000	1,333,820,000	1,338,890,000	1,362,738,000	1,299,941,000	1,272,475,000	1,335,364,000	836,093,000	789,806,000	522,240,000	557,446,000	568,253,000	576,479,000	550,325,000	613,874,000	594,238,000	596,160,000	607,721,000	587,731,000	705,645,000	709,916,000	716,594,000	549,063,000	555,358,000	586,048,000	467,387,000	485,787,000	391,573,000	401,083,000
preferred stock 1.00 par value authorized – 20,000 shares, issued and outstanding – none
common stock 0.10 par value authorized – 700,000 shares, issued and outstanding – 295,526 shares as of september 30, 2025 and 279,129 shares as of december 31, 2024	29,552,000
additional paid-in capital	8,516,304,000	8,430,299,000	8,179,841,000	7,915,873,000	7,480,051,000	6,951,244,000	6,705,333,000	6,671,198,000	6,657,211,000	6,526,367,000	6,322,160,000	6,314,203,000	6,305,089,000	6,295,907,000	6,401,207,000	6,427,566,000	6,425,720,000	6,377,238,000																																																																		592,698,000
cumulative net earnings	4,512,257,000	4,332,538,000	4,195,939,000	4,086,907,000	3,973,566,000	3,861,804,000	3,747,942,000	3,680,581,000	3,625,580,000	3,534,199,000	3,474,343,000	3,438,401,000	3,392,822,000	3,290,548,000	3,201,081,000	3,011,474,000	2,978,183,000	2,839,236,000	2,754,713,000	2,594,735,000	2,533,339,000	2,624,630,000	2,525,323,000	2,463,436,000	2,403,896,000	2,265,156,000	2,200,213,000	2,130,511,000	2,068,295,000	2,011,689,000	1,933,153,000	1,839,356,000	1,776,956,000	1,908,634,000	1,843,377,000	1,738,937,000	1,614,678,000	1,536,129,000	1,428,077,000	1,372,522,000	1,311,880,000	1,232,478,000	1,191,050,000	1,147,998,000	1,091,008,000	1,029,295,000	982,478,000	926,649,000	879,443,000	841,306,000	792,248,000	754,128,000	720,205,000	690,086,000	659,514,000	633,430,000	614,137,000	592,701,000	574,911,000	580,824,000	575,855,000	558,848,000	543,339,000	522,388,000	506,149,000	485,011,000	465,189,000	440,277,000	424,568,000	396,496,000	379,374,000	362,140,000	344,824,000	329,475,000	313,425,000	292,766,000	279,357,000	245,843,000	234,582,000	227,701,000	207,694,000	202,574,000	200,317,000	191,013,000
cumulative dividends paid	-8,098,951,000	-7,900,668,000	-7,706,034,000	-7,516,750,000	-7,335,238,000	-7,161,897,000	-6,995,876,000	-6,831,061,000	-6,666,439,000	-6,501,899,000	-6,344,413,000	-6,186,986,000	-6,029,603,000	-5,872,269,000	-5,714,595,000	-5,553,908,000	-5,393,284,000	-5,232,692,000	-5,074,432,000	-4,916,097,000	-4,763,468,000	-4,610,828,000	-4,458,207,000	-4,303,546,000	-4,156,613,000	-4,013,116,000	-3,875,884,000	-3,739,197,000	-3,606,181,000	-3,473,406,000		-3,210,248,000	-3,080,999,000	-2,954,230,000	-2,829,718,000	-2,707,387,000	-2,587,841,000	-2,471,192,000	-2,361,580,000	-2,254,038,000	-2,148,833,000	-2,047,257,000	-2,014,220,000	-1,895,666,000	-1,828,405,000	-1,762,601,000	-1,698,758,000	-1,637,068,000	-1,578,006,000	-1,522,926,000	-1,469,483,000	-1,418,893,000	-1,369,372,000	-1,323,699,000	-1,279,255,000	-1,236,668,000	-1,195,225,000	-1,153,809,000	-1,115,045,000	-1,071,300,000	-1,031,648,000	-995,211,000	-963,143,000	-932,407,000	-904,552,000	-877,251,000	-850,207,000	-823,172,000	-798,259,000	-772,992,000	-749,676,000	-727,237,000	-662,568,000	-641,651,000	-621,016,000	-602,910,000			-551,726,000	-536,041,000	-522,206,000	-508,426,000	-497,664,000
accumulated other comprehensive income	76,966,000	96,814,000	42,566,000	22,731,000	62,738,000	34,345,000	31,852,000	29,338,000	28,143,000	41,353,000	21,533,000	20,325,000	6,243,000	3,501,000	6,318,000		1,476,000	4,523,000	23,230,000																							2,839,000																					38,000														1,131,000	1,740,000	859,000	160,000	730,000
total stockholders’ equity	5,036,128,000	4,988,297,000	4,740,935,000	4,536,673,000	4,207,940,000	3,710,898,000	3,513,888,000	3,574,584,000	3,668,993,000	3,624,119,000	3,497,057,000	3,609,368,000	3,697,968,000	3,741,097,000	3,917,831,000	3,906,838,000	4,035,988,000	4,012,061,000	3,953,392,000	3,841,876,000	3,744,560,000	3,970,233,000	4,021,575,000	4,135,428,000	3,881,985,000	3,802,971,000	3,545,802,000	3,444,441,000	3,462,345,000	3,525,488,000	3,538,448,000	3,555,091,000	3,606,828,000	3,828,299,000	3,863,494,000	3,858,745,000	3,822,058,000	3,744,647,000	3,693,035,000	3,737,986,000	3,699,040,000	3,709,572,000	1,770,953,000	1,401,327,000	1,406,377,000	1,383,795,000	1,355,347,000	1,300,103,000	1,189,998,000	1,137,296,000	1,105,754,000	1,011,329,000	1,020,920,000	935,675,000	882,883,000	878,484,000	897,845,000	902,089,000	895,189,000	1,004,066,000	1,021,083,000	961,081,000	905,293,000	865,227,000	814,153,000	786,404,000	786,549,000	787,988,000	803,598,000	692,868,000	589,489,000	586,127,000	583,172,000	583,764,000	467,269,000	465,454,000	466,460,000	435,297,000	429,554,000	429,681,000	361,523,000	367,658,000	422,400,000
noncontrolling interest	207,937,000	200,710,000	191,088,000	194,166,000	192,359,000	189,690,000	186,705,000	187,707,000	188,337,000	188,473,000	188,554,000	193,914,000	197,408,000	199,615,000	212,013,000	201,388,000	201,480,000	197,965,000	194,938,000	194,731,000	193,854,000	197,159,000	197,070,000	201,166,000	201,477,000	249,535,000	259,840,000	320,043,000	323,621,000	328,827,000	331,952,000	333,167,000	336,011,000	347,211,000	351,028,000	353,241,000	353,133,000	357,283,000	359,498,000	362,879,000	365,611,000	367,744,000
total equity	5,244,065,000	5,189,007,000	4,932,023,000	4,730,839,000	4,400,299,000	3,900,588,000	3,700,593,000	3,762,291,000	3,857,330,000	3,812,592,000	3,685,611,000	3,803,282,000	3,895,376,000	3,940,712,000	4,129,844,000	4,108,226,000	4,237,468,000	4,210,026,000	4,148,330,000	4,036,607,000	3,938,414,000	4,167,392,000	4,218,645,000	4,336,594,000	4,083,462,000	4,052,506,000	3,805,642,000	3,764,484,000	3,785,966,000	3,854,315,000	3,870,400,000	3,888,258,000	3,942,839,000	4,175,510,000	4,214,522,000	4,211,986,000	4,175,191,000	4,101,930,000	4,052,533,000	4,100,865,000	4,064,651,000	4,077,316,000
total liabilities and equity	10,596,001,000	10,546,476,000	9,705,738,000	9,897,891,000	9,571,871,000	8,848,546,000	9,011,848,000	9,117,402,000	9,425,313,000	9,404,033,000	9,290,206,000	9,405,163,000	9,475,705,000	9,521,145,000	10,014,605,000	9,638,478,000	9,779,949,000	9,759,054,000	9,822,802,000	9,497,449,000	9,398,589,000	9,687,584,000	10,037,231,000	9,796,124,000	8,996,194,000	9,098,420,000	8,520,066,000	8,590,877,000	8,641,964,000	8,574,139,000	8,792,629,000	8,773,305,000	8,890,646,000	8,946,654,000	8,842,118,000	8,949,260,000	8,982,363,000	8,606,498,000	8,615,452,000	8,019,009,000	8,593,483,000	7,813,676,000
investments in unconsolidated joint ventures		85,429,000	88,691,000	88,711,000	92,598,000	185,270,000	185,937,000	188,409,000	187,541,000	191,667,000	181,339,000	178,920,000	176,556,000	183,661,000	192,238,000	194,687,000	193,741,000	197,912,000	204,646,000	200,638,000	196,214,000	195,546,000	194,407,000	199,884,000	96,778,000	102,838,000
common stock 0.10 par value authorized – 700,000 shares, issued and outstanding – 293,149 shares as of june 30, 2025 and 279,129 shares as of december 31, 2024		29,314,000
common stock 0.10 par value authorized – 350,000 shares, issued and outstanding – 286,238 shares as of march 31, 2025 and 279,129 shares as of december 31, 2024			28,623,000
common stock 0.10 par value authorized – 350,000 shares, issued and outstanding – 279,129 shares as of december 31, 2024 and 245,282 shares as of december 31, 2023				27,912,000
common stock 0.10 par value authorized – 350,000 shares, issued and outstanding – 268,231 shares as of september 30, 2024 and 245,282 shares as of december 31, 2023					26,823,000
common stock 0.10 par value authorized – 350,000 shares, issued and outstanding – 254,023 shares as of june 30, 2024 and 245,282 shares as of december 31, 2023						25,402,000
common stock 0.10 par value authorized – 350,000 shares, issued and outstanding – 246,377 shares as of march 31, 2024 and 245,282 shares as of december 31, 2023							24,637,000
common stock 0.10 par value authorized – 350,000 shares, issued and outstanding – 245,282 shares as of december 31, 2023 and 234,252 shares as of december 31, 2022								24,528,000
common stock 0.10 par value authorized – 350,000 shares, issued and outstanding – 244,989 shares as of september 30, 2023 and 234,252 shares as of december 31, 2022									24,498,000
equity:
common stock 0.10 par value authorized – 350,000 shares, issued and outstanding – 240,991 shares as of june 30, 2023 and 234,252 shares as of december 31, 2022										24,099,000
common stock 0.10 par value authorized – 350,000 shares, issued and outstanding – 234,346 shares as of march 31, 2023 and 234,252 shares as of december 31, 2022											23,434,000
													7,142,446,000	7,406,879,000	7,627,376,000	7,635,050,000	7,978,920,000	7,957,201,000	8,092,193,000	7,601,317,000	7,709,321,000	7,802,256,000	7,867,800,000	7,983,620,000	7,322,907,000
common stock 0.10 par value authorized – 350,000 shares, issued and outstanding – 234,252 shares as of december 31, 2022 and 239,061 shares as of december 31, 2021												23,425,000
mortgage notes receivable – net													669,533,000	711,589,000	819,577,000	835,086,000	873,737,000	857,162,000	890,068,000	885,313,000	892,539,000	886,029,000	754,030,000	773,563,000	778,750,000	774,327,000	703,739,000	710,858,000	708,178,000	703,309,000	653,319,000	671,232,000	666,606,000	662,709,000	644,696,000	639,343,000									647,590,000	652,336,000	354,497,000	241,515,000	241,490,000	241,254,000	240,551,000	238,621,000	245,550,000	243,461,000	239,901,000	238,675,000	119,076,000	113,202,000	110,323,000	108,557,000	90,252,000	87,858,000	87,835,000	100,223,000	100,531,000	100,630,000	100,726,000	100,821,000	101,148,000	101,343,000	31,505,000	31,689,000	31,849,000	32,002,000			32,185,000
other investments – net													608,190,000	560,914,000	506,942,000	469,884,000	434,028,000	458,664,000	444,719,000	467,442,000	464,503,000	434,653,000						504,626,000	511,668,000	377,206,000	322,249,000	276,342,000	273,821,000	278,985,000	255,899,000										51,852,000	56,112,000	56,052,000	53,054,000	75,421,000	74,646,000	48,537,000	47,339,000	45,807,000	46,475,000	45,966,000	52,957,000	30,394,000	29,278,000	28,348,000	28,735,000	31,340,000	33,397,000	46,760,000	32,800,000	29,440,000	29,744,000	26,922,000	29,864,000	23,354,000	20,843,000	15,969,000	13,683,000	16,464,000	26,005,000			37,327,000
common stock 0.10 par value authorized – 350,000 shares, issued and outstanding – 234,176 shares as of september 30, 2022 and 239,061 shares as of december 31, 2021													23,417,000
common stock 0.10 par value authorized – 350,000 shares, issued and outstanding – 234,102 shares as of june 30, 2022 and 239,061 shares as of december 31, 2021														23,410,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 238,206 shares as of march 31, 2022 and 239,061 shares as of december 31, 2021															23,820,000
deferred income taxes																8,200,000	8,798,000	9,645,000	10,249,000	10,766,000	9,618,000	9,675,000	10,192,000	11,350,000	11,002,000	12,827,000	13,502,000	13,599,000	14,198,000	14,718,000	15,977,000	17,747,000	17,589,000	17,714,000	9,746,000	9,906,000	11,937,000	12,903,000	14,795,000	15,352,000	16,225,000	16,852,000
preferred stock 1.00 par value authorized – 20,000 shares, issued and outstanding - none
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 239,061 shares as of december 31, 2021 and 231,199 shares as of december 31, 2020																23,906,000
accumulated other comprehensive loss																-2,200,000				-12,768,000	-49,101,000	-66,235,000	-65,788,000	-39,858,000	-58,272,000	-50,719,000	-39,941,000	-41,652,000	-32,382,000	-30,157,000	-16,399,000	-30,150,000	-34,843,000	-41,903,000	-48,478,000	-53,827,000	-52,170,000	-46,463,000	-21,702,000	-8,712,000	-3,950,000																																										-3,185,000
real estate properties
real estate investments																	9,268,967,000	9,228,332,000	9,261,190,000	8,702,154,000	8,779,962,000	8,807,944,000	8,949,912,000	8,985,994,000	8,262,290,000	8,373,540,000	7,818,209,000	7,746,410,000	7,700,636,000	7,571,661,000	7,611,038,000	7,655,960,000	7,977,043,000	7,730,199,000	7,581,665,000	7,566,358,000
real estate investments – net																	7,094,421,000	7,089,232,000	7,191,368,000	6,705,240,000	6,805,924,000	6,905,357,000	7,102,920,000	7,198,569,000	6,532,446,000	6,684,102,000	6,186,536,000	6,183,791,000	6,184,790,000	6,096,198,000	6,190,706,000	6,279,132,000	6,544,889,000	6,363,823,000	6,275,581,000	6,326,022,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 238,939 shares as of september 30, 2021 and 231,199 as of december 31, 2020																	23,893,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 237,570 shares as of june 30, 2021 and 231,199 as of december 31, 2020																		23,756,000
assets held for sale – net																			7,922,000	81,452,000	35,921,000	70,516,000	24,125,000	4,922,000	2,181,000	4,606,000	645,000	989,000	17,826,000	3,782,000	143,419,000	86,699,000	17,324,000	18,889,000	23,245,000	52,868,000	91,210,000	52,451,000	73,589,000	6,599,000	10,371,000	15,903,000	16,877,000	12,792,000		820,000	820,000	1,356,000	1,020,000	1,020,000	1,020,000	1,020,000	1,620,000	2,120,000	8,090,000	2,461,000	811,000	811,000	811,000	670,000	670,000	722,000	877,000	877,000	887,000	687,000	80,000	150,000	150,000	17,380,000	16,746,000	2,870,000	3,550,000				737,000
revolving line of credit																			135,000,000	101,158,000	170,667,000	216,434,000	516,760,000	125,000,000		500,000,000	195,000,000	313,000,000	360,000,000	220,000,000	355,000,000	290,000,000	365,000,000	155,000,000	123,000,000	190,000,000	223,000,000	470,000,000	530,000,000	230,000,000	550,000,000	351,000,000		85,000,000	3,000,000	270,000,000		326,000,000		5,000,000	200,000,000	258,000,000	102,000,000	2,000,000	27,000,000	272,500,000	45,000,000	53,000,000	69,000,000		143,000,000	221,000,000		94,100,000	9,000,000	46,000,000	55,000,000	63,500,000	34,000,000	102,000,000	82,000,000	48,000,000	52,000,000	30,000,000	147,000,000	150,000,000	157,500,000		4,500,000	58,000,000	80,700,000	101,500,000
term loans – net																			49,914,000	186,349,000	802,334,000	796,349,000	796,523,000	804,738,000	794,863,000	898,604,000	901,345,000	898,726,000	900,847,000	902,168,000	910,019,000	904,670,000	903,221,000	899,292,000	1,094,875,000	1,094,343,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 233,386 shares as of march 31, 2021 and 231,199 as of december 31, 2020																			23,338,000
common stock – additional paid-in capital																			6,226,543,000	6,152,887,000	6,001,092,000	5,999,972,000	5,997,561,000	5,992,733,000	5,671,127,000	5,580,042,000	5,240,714,000	5,074,544,000	5,012,544,000	4,997,329,000	4,943,600,000	4,936,302,000	4,925,908,000	4,896,076,000	4,878,637,000	4,861,408,000	4,827,877,000	4,707,129,000	4,629,423,000	4,609,474,000	4,521,448,000	4,503,180,000	2,580,248,000	2,136,234,000	2,131,033,000	2,104,430,000	2,059,085,000	1,998,169,000	1,876,609,000	1,807,201,000	1,771,374,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 231,199 shares as of december 31, 2020 and 226,631 as of december 31, 2019																				23,119,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 226,980 shares as of september 30, 2020 and 226,631 as of december 31, 2019																					22,698,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 226,943 shares as of june 30, 2020 and 226,631 as of december 31, 2019																						22,694,000
other investments																							424,723,000	419,228,000	402,155,000	367,233,000	474,066,000									256,846,000	277,251,000	199,806,000	203,832,000	89,299,000	84,684,000	82,955,000	48,268,000	48,952,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 226,866 shares as of march 31, 2020 and 226,631 as of december 31, 2019																							22,686,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 226,631 shares as of december 31, 2019 and 202,346 as of december 31, 2018																								22,663,000
secured borrowing																									2,275,000	2,275,000	2,275,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 218,478 shares as of september 30, 2019 and 202,346 as of december 31, 2018																									21,847,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 216,089 shares as of june 30, 2019 and 202,346 as of december 31, 2018																										21,608,000
investment in unconsolidated joint venture																											29,919,000	31,045,000	32,159,000	32,820,000	34,673,000	36,516,000	37,733,000	38,968,000	40,152,000	48,776,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 207,001 shares as of march 31, 2019 and 202,346 as of december 31, 2018																											20,700,000
accounts receivable – net																												347,377,000	336,825,000	320,140,000	319,713,000	279,334,000	269,746,000	288,686,000	272,506,000	240,035,000	225,225,000	214,036,000	208,269,000	203,862,000	198,857,000	189,037,000	176,877,000	168,176,000	162,628,000	153,745,000	152,863,000	147,504,000	142,426,000	138,059,000	130,258,000	125,180,000	119,361,000	112,842,000	106,741,000	100,664,000	96,615,000	94,315,000	95,981,000	92,819,000	90,780,000	87,136,000	83,690,000	81,558,000	81,274,000	79,228,000	77,035,000	75,037,000	71,817,000	66,167,000	65,297,000	64,992,000	61,768,000	59,396,000			39,488,000
secured borrowings – net																															52,775,000	53,098,000	53,419,000	53,737,000	54,052,000	54,365,000	55,271,000	235,584,000	235,895,000	236,204,000	262,559,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 202,346 shares as of december 31, 2018 and 198,309 as of december 31, 2017																												20,235,000
common stock .10 par value authorized – 350,000 shares,
issued and outstanding – 200,693 shares as of
september 30, 2018 and 198,309 as of december 31, 2017																													20,069,000
unsecured borrowings – net																														3,325,889,000	3,325,885,000	3,324,390,000	3,322,888,000	3,321,858,000	3,028,938,000	3,028,146,000	3,055,368,000	2,356,713,000	2,353,297,000	2,352,882,000	2,932,358,000	2,333,856,000	2,333,657,000	1,842,049,000	1,841,977,000	1,594,123,000	1,594,106,000	1,199,887,000	1,200,013,000	1,200,139,000	1,200,266,000	1,200,394,000	1,200,523,000	1,200,652,000	1,200,783,000	975,290,000	975,384,000	975,477,000	975,573,000	975,669,000	702,947,000	703,193,000	681,304,000	484,695,000	484,685,000	484,689,000	484,693,000		484,702,000	484,706,000	484,710,000		484,718,000	484,722,000			484,735,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 200,332 shares as of june 30, 2018 and 198,309 as of december 31, 2017																														20,033,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 198,595 shares as of march 31, 2018 and 198,309 as of december 31, 2017																															19,859,000
cumulative dividends																															-3,341,765,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 198,309 shares as of december 31, 2017 and 196,142 as of december 31, 2016																																19,831,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 198,065 shares as of september 30, 2017 and 196,142 as of december 31, 2016																																	19,806,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 197,224 shares as of june 30, 2017 and 196,142 as of december 31, 2016																																		19,722,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 196,761 shares as of march 31, 2017 and 196,142 as of december 31, 2016																																			19,676,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 196,142 shares as of december 31, 2016 and 187,399 as of december 31, 2015																																				19,614,000
land and buildings																																					7,593,886,000	7,288,051,000	7,088,960,000	6,743,958,000	6,723,479,000	6,513,674,000	3,227,983,000	3,223,785,000	3,143,356,000	3,124,909,000	3,107,285,000	3,099,547,000	3,060,188,000	3,051,363,000	3,046,805,000	3,038,553,000	2,786,213,000	2,560,909,000	2,529,617,000	2,537,039,000	2,341,012,000	2,339,689,000	2,335,799,000	2,366,856,000	2,352,372,000	2,341,084,000	1,690,729,000	1,669,843,000	1,385,625,000	1,378,811,000	1,375,132,000	1,372,012,000	1,353,622,000	1,309,422,000	1,259,581,000	1,274,722,000
real estate properties – net																																					6,407,809,000	6,156,763,000	6,021,937,000	5,724,808,000	5,764,946,000	5,614,940,000	2,380,743,000	2,402,073,000	2,349,251,000	2,356,633,000	2,368,577,000	2,392,137,000	2,384,503,000	2,407,849,000	2,434,503,000	2,458,180,000	2,235,832,000	2,038,802,000	2,034,681,000	2,066,619,000	1,895,740,000	1,919,038,000	1,939,881,000	1,985,861,000	1,997,098,000	2,013,548,000	1,379,623,000	1,373,402,000	1,100,843,000	1,105,090,000	1,112,370,000	1,120,158,000	1,110,948,000	1,076,797,000	1,036,583,000	1,053,356,000	1,061,023,000	1,034,371,000			1,060,128,000
mortgage notes receivable																																					624,339,000	625,134,000	660,569,000	679,795,000	673,759,000	682,255,000	649,793,000	648,079,000
term loans																																					1,100,000,000	1,100,000,000	1,100,000,000	750,000,000	500,000,000	500,000,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 195,136 shares as of september 30, 2016 and 187,399 as of december 31, 2015																																					19,514,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 190,440 shares as of june 30, 2016 and 187,399 as of december 31, 2015																																						19,044,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 188,167 shares as of march 31, 2016 and 187,399 as of december 31, 2015																																							18,817,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 187,399 shares as of december 31, 2015 and 127,606 as of december 31, 2014																																								18,740,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 184,954 shares as of september 30, 2015 and 127,606 as of december 31, 2014																																									18,495,000
investments in direct financing leases																																										571,377,000
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 183,321 shares as of june 30, 2015 and 127,606 as of december 31, 2014																																										18,332,000
investment in direct financing leases																																											541,846,000	539,232,000	536,687,000	534,209,000	531,795,000	529,445,000
liabilities and stockholders’ equity
term loan																																											200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000	200,000,000
stockholders’ equity:
common stock .10 par value authorized – 350,000 shares, issued and outstanding – 138,752 shares as of march 31, 2015 and 127,606 as of december 31, 2014																																											13,875,000
total liabilities and stockholders’ equity																																											4,598,020,000	3,921,645,000	3,857,502,000	3,889,359,000	3,578,925,000	3,462,216,000	3,014,778,000	2,979,796,000	3,004,641,000	2,982,005,000	2,759,440,000	2,551,862,000	2,538,803,000	2,557,312,000	2,231,665,000	2,240,979,000	2,257,927,000	2,304,007,000	2,293,558,000	2,296,445,000	1,741,386,000	1,655,033,000	1,336,393,000	1,343,850,000	1,354,802,000	1,364,467,000	1,353,923,000	1,306,742,000	1,183,727,000	1,182,287,000	1,190,893,000	1,171,495,000	1,172,914,000	1,175,370,000	1,183,054,000	984,360,000	984,912,000	1,015,729,000	828,910,000	853,445,000	813,973,000
common stock .10 par value authorized – 200,000 shares, issued and outstanding – 127,606 shares as of december 31, 2014 and 123,530 as of december 31, 2013																																												12,761,000
common stock .10 par value authorized – 200,000 shares issued and outstanding – 127,408 shares as of september 30, 2014 and 123,530 as of december 31, 2013																																													12,741,000
common stock .10 par value authorized – 200,000 shares issued and outstanding – 126,713 shares as of june 30, 2014 and 123,530 as of december 31, 2013																																														12,671,000
common stock .10 par value authorized – 200,000 shares issued and outstanding – 125,419 shares as of march 31, 2014 and 123,530 as of december 31, 2013																																															12,542,000
common stock .10 par value authorized – 200,000 shares issued and outstanding – 123,530 shares as of december 31, 2013 and 112,393 as of december 31, 2012																																																12,353,000
common stock .10 par value 200,000 shares authorized –– 119,518 shares as of september 30, 2013 and 112,393 as of december 31, 2012 issued and outstanding																																																	11,952,000
common stock .10 par value 200,000 shares authorized –– 117,152 shares as of june 30, 2013 and 112,393 as of december 31, 2012 issued and outstanding																																																		11,715,000
common stock .10 par value 200,000 shares authorized –– 116,153 shares as of march 31, 2013 and 112,393 as of december 31, 2012 issued and outstanding																																																			11,615,000
common stock .10 par value authorized – 200,000 shares issued and outstanding – 112,393 shares as of december 31, 2012 and 103,410 as of december 31, 2011																																																				11,239,000
common stock – additional paid-in-capital																																																				1,664,855,000	1,658,882,000	1,558,506,000	1,492,147,000	1,471,381,000	1,468,598,000	1,452,935,000	1,425,186,000	1,376,131,000	1,358,564,000	1,279,507,000	1,207,493,000	1,157,931,000	1,095,578,000	1,061,869,000	1,054,838,000	1,054,157,000	1,050,592,000	943,326,000		825,925,000
common stock .10 par value 200,000 shares authorized –– 112,046 shares as of september 30, 2012 and 103,410 as of december 31, 2011 issued and outstanding																																																					11,205,000
common stock .10 par value 200,000 shares authorized –– 107,820 shares as of june 30, 2012 and 103,410 as of december 31, 2011 issued and outstanding																																																						10,782,000
common stock .10 par value 200,000 shares authorized ––
104,766 shares as of march 31, 2012 and 103,410
as of december 31, 2011 issued and outstanding																																																							10,477,000
operating assets for owned and operated properties																																																									275,000	275,000	324,000	873,000	635,000	2,294,000	3,792,000	3,739,000	3,949,000	4,060,000	6,265,000	13,321,000
operating liabilities for owned and operated properties																																																									472,000	472,000	470,000	1,117,000	1,579,000	273,000	1,896,000	1,762,000	1,449,000	2,066,000	1,783,000	2,862,000
preferred stock issued and outstanding – 4,340 shares series d with an aggregate liquidation preference of 108,488 as of december 31, 2010
common stock .10 par value authorized – 200,000 shares issued and outstanding – 103,410 shares as of december 31, 2011 and 99,233 as of december 31, 2010																																																								10,341,000
common stock .10 par value authorized – 200,000 shares issued, and outstanding – 103,346 shares as of september 30, 2011 and 99,233 as of december 31, 2010																																																									10,335,000
preferred stock issued and outstanding – 4,340 shares
series d with an aggregate liquidation preference
of 108,488 as of december 31, 2010
common stock .10 par value authorized – 200,000 shares
issued and outstanding – 102,624 shares as of june 30, 2011
and 99,233 as of december 31, 2010																																																										10,262,000
common stock .10 par value authorized – 200,000 shares issued and outstanding – 101,371 shares as of march 31, 2011 and 99,233 as of december 31, 2010																																																											10,137,000
preferred stock issued and outstanding – 4,340 shares series d with an aggregate liquidation preference of 108,488																																																												108,488,000	108,488,000	108,488,000	108,488,000	108,488,000	108,488,000	108,488,000	108,488,000
common stock .10 par value authorized – 200,000 shares; issued and outstanding – 99,233 shares as of december 31, 2010 and 88,266 as of december 31, 2009																																																												9,923,000
common stock .10 par value authorized – 200,000 shares issued and outstanding – 98,236 shares as of september 30, 2010 and 88,266 as of december 31, 2009																																																													9,824,000
common stock .10 par value authorized – 200,000 shares issued and outstanding – 94,490 shares as of june 30, 2010 and 88,266 as of december 31, 2009																																																														9,449,000
common stock .10 par value authorized – 200,000 shares issued and outstanding – 90,778 shares as of march 31, 2010 and 88,266 as of december 31, 2009																																																															9,078,000
common stock .10 par value authorized – 200,000 shares issued and outstanding – 88,266 shares as of december 31, 2009 and 82,382 as of december 31, 2008																																																																8,827,000
common stock .10 par value authorized – 200,000 shares issued and outstanding – 84,904 shares as of september 30, 2009 and 82,382 as of december 31, 2008																																																																	8,490,000
common stock .10 par value authorized – 200,000 shares issued and outstanding – 82,872 shares as of june 30, 2009 and 82,382 as of december 31, 2008																																																																		8,287,000
common stock .10 par value authorized – 100,000 shares: issued and outstanding – 82,408 shares as of march 31, 2009 and 82,382 as of december 31, 2008																																																																			8,241,000
unsecured borrowings																																																																				484,697,000				484,714,000				484,731,000					360,000,000	360,000,000	360,000,000	360,000,000
other long–term borrowings																																																																					1,560,000	1,995,000	1,995,000	40,995,000	40,995,000	41,410,000
accrued income tax liabilities																																																																								73,000
preferred stock issued and outstanding – 4,340 shares series d with an aggregate liquidation preference of 108,488 in 2008 and 4,740 shares series d with an aggregate liquidation preference of 118,488 in 2007																																																																				108,488,000
common stock .10 par value authorized – 100,000 shares: issued and outstanding – 82,382 shares in 2008 and 68,114 shares in 2007																																																																				8,238,000
operating assets for owned properties																																																																					17,101,000															213,000
income tax liabilities																																																																						73,000	73,000		3,441,000	5,646,000	5,646,000	5,646,000	5,038,000
operating liabilities for owned properties																																																																					3,798,000						92,000	92,000	98,000	125,000	53,000	256,000	374,000	386,000	556,000	508,000
preferred stock issued and outstanding – 4,740 shares series d with an aggregate liquidation preference of 118,488																																																																					118,488,000
common stock .10 par value authorized – 100,000 shares: issued and outstanding – 82,095 shares as of september 30, 2008 and 68,114 as of december 31, 2007																																																																					8,209,000
preferred stock issued and outstanding – 4,740 shares class d with an aggregate liquidation preference of 118,488																																																																						118,488,000		118,488,000
common stock .10 par value authorized – 100,000 shares: issued and outstanding – 75,498 shares as of june 30, 2008 and 68,114 as of december 31, 2007																																																																						7,550,000
preferred stock																																																																							118,488,000		118,488,000	118,488,000	118,488,000		118,488,000	118,488,000	118,488,000		118,488,000	118,488,000	168,488,000
common shares, ...																																																																							841,303,000		825,495,000	820,519,000	699,439,000	694,207,000	695,948,000	680,443,000	670,418,000		601,336,000	599,827,000	597,521,000
common stock .10 par value authorized – 100,000 shares: issued and outstanding – 68,114 shares in 2007 and 59,703 shares in 2006																																																																								6,811,000
land and buildings at cost																																																																									1,273,657,000	1,240,132,000	1,238,733,000	1,237,165,000	1,240,398,000	1,060,226,000	1,057,936,000	996,127,000	869,382,000	893,785,000	878,287,000
total investments – net																																																																									1,112,886,000	1,092,378,000
cumulative dividends – redemption																																																																									-43,067,000	-43,067,000
real estate properties - net																																																																											1,041,776,000	1,048,977,000		888,278,000	893,498,000	838,872,000	717,972,000	743,595,000	719,848,000
mortgage notes receivable - net																																																																											32,085,000	31,886,000		32,381,000	42,577,000	104,522,000	43,506,000	43,883,000	44,254,000
other investments - net																																																																											21,032,000	22,078,000		29,060,000	25,985,000	23,490,000	25,270,000	24,750,000	20,185,000
assets held for sale - net																																																																											773,000	3,568,000		248,000	1,863,000	1,243,000	23,624,000	8,440,000
total investments - net																																																																											1,095,666,000
accounts receivable - net																																																																											56,287,000	51,194,000					4,778,000	4,041,000	4,642,000
unsecured borrowings - net																																																																											484,726,000			484,739,000	484,743,000	505,429,000
other long-term borrowings																																																																											41,410,000	41,410,000		41,800,000	41,800,000	2,800,000	2,800,000	3,170,000	3,170,000	3,170,000
cumulative dividends - redemption																																																																											-43,067,000	-43,067,000			-43,067,000	-43,067,000	-43,067,000	-43,067,000	-41,054,000
preferred stock issued and outstanding - 4,740 shares class d with an aggregate liquidation preference of 118,488																																																																												118,488,000				118,488,000
common stock .10 par value authorized - 100,000 shares: issued and outstanding - 59,703 shares in 2006 and 56,872 shares in 2005																																																																												5,970,000
unamortized restricted stock awards																																																																																-1,167,000	-1,452,000	-1,738,000	-2,023,000
other long – term borrowings																																																																													41,410,000
accounts receivable																																																																														6,342,000	6,495,000	5,885,000
preferred stock issued and outstanding - 2,000 shares class b with an aggregate liquidation preference of 50,000
common stock .10 par value authorized - 100,000 shares: issued and outstanding - 56,872 shares in 2005 and 50,824 shares in 2004																																																																																5,687,000
additional paid-in-capital																																																																																657,920,000
premium on unsecured borrowings																																																																																	1,219,000	1,254,000	1,290,000	1,338,000
land and buildings, at cost																																																																																				808,574,000
real estate properties—net																																																																																				655,195,000
mortgage notes receivable—net																																																																																				118,058,000
other investments—net																																																																																				29,699,000
accounts receivable—net																																																																																				5,582,000
interest rate cap
liabilities and stockholders equity
revolving lines of credit and term loan																																																																																				15,000,000
stockholders equity:
preferred stock 1.00 par value; authorized—20,000 shares:
issued and outstanding in 2003—2,300 shares class a with an aggregate liquidation preference of 57,500
issued and outstanding—2,000 shares class b with an aggregate liquidation preference of 50,000																																																																																				50,000,000
issued and outstanding in 2003—1,048 shares class c with an aggregate liquidation preference of 104,842
issued and outstanding in 2004—4,740 shares class d with an aggregate liquidation preference of 118,488																																																																																				118,488,000
common stock .10 par value; authorized—100,000 shares
issued and outstanding—50,824 shares in 2004 and 37,291 shares in 2003																																																																																				5,082,000
total stockholders equity																																																																																				432,480,000
total liabilities and stockholders equity																																																																																				833,563,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-09-30	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	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	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31

cash flows from operating activities
net income	184,956,000	140,479,000	112,060,000	116,465,000	114,914,000	117,079,000	69,346,000	56,522,000	93,908,000	61,521,000	36,845,000	46,706,000	105,064,000	91,915,000	195,156,000	34,238,000	61,146,000	142,948,000	75,671,000	72,182,000	64,903,000	59,062,000	81,986,000	87,933,000	65,156,000	-137,515,000	68,157,000	109,112,000	129,883,000	82,134,000	113,154,000	58,196,000	63,543,000	83,254,000	43,466,000	43,052,000	56,990,000	61,713,000	46,817,000	55,829,000	47,206,000	38,137,000	49,058,000	38,120,000	33,923,000	30,119,000	30,572,000	26,084,000	19,293,000	21,436,000	17,790,000	-5,913,000	4,969,000	17,007,000	15,509,000	20,951,000	16,239,000	21,138,000	19,822,000	24,912,000	15,709,000	28,072,000	17,122,000	17,234,000	17,316,000	15,349,000	16,050,000	20,659,000	13,409,000	24,146,000	11,261,000	6,881,000	20,007,000	5,120,000	2,257,000	9,304,000
adjustment to reconcile net income to net cash from operating activities:
depreciation and amortization	82,114,000	80,509,000	79,875,000	78,612,000	77,245,000	74,234,000	74,557,000	75,674,000	80,798,000	82,018,000	81,192,000	83,739,000	82,709,000	83,207,000	82,752,000	85,269,000	80,498,000	76,696,000	73,637,000	70,852,000	70,598,000	70,711,000	69,609,000	70,361,000	75,323,000	71,925,000	70,350,000	69,993,000	70,808,000	68,316,000	65,505,000	62,433,000	60,794,000	60,143,000	59,156,000	30,610,000	30,401,000	30,111,000	31,301,000	31,444,000	32,260,000	32,202,000	32,225,000	31,959,000	30,332,000	28,305,000	27,199,000	27,147,000	25,489,000	24,871,000	24,759,000	25,218,000	25,743,000	27,742,000	16,451,000	14,687,000	11,680,000	11,093,000	10,990,000	10,931,000	10,705,000	10,076,000	9,713,000	9,396,000	9,288,000	9,138,000	8,831,000	8,799,000	8,831,000	8,363,000	7,542,000	7,527,000	6,209,000	6,275,000	6,540,000	6,253,000
impairment on real estate properties	1,144,000	14,215,000	1,235,000	1,737,000	8,620,000	8,182,000	5,292,000	3,951,000	27,890,000	21,114,000	38,988,000	17,230,000	10,015,000	7,695,000	3,511,000	2,205,000	35,719,000	5,659,000			3,154,000	22,868,000																							0	0	0	272,000	1,373,000
straight-line rent and other write-offs	0	17,537,000	10,000,000
recovery for credit losses
amortization of deferred financing costs and loss on debt extinguishment	1,062,000	1,016,000	1,380,000	1,562,000	2,050,000	3,575,000	4,959,000	4,191,000	3,488,000	3,251,000	3,259,000	3,251,000	3,629,000	3,258,000	3,199,000	3,219,000
stock-based compensation expense	9,277,000	9,234,000	15,812,000	9,198,000	9,083,000	9,188,000	9,227,000	8,762,000	8,756,000	8,806,000	8,744,000	6,787,000	6,809,000	6,846,000	6,860,000	4,502,000	3,840,000	2,921,000	4,040,000	4,558,000	3,880,000	3,962,000	4,089,000	4,056,000	3,862,000	3,872,000	3,734,000	3,744,000
gain on assets sold – net	-28,269,000			-1,886,000	238,000			-9,712,000	-44,076,000	-12,243,000	-13,637,000	-180,204,000	-40,930,000	-25,180,000	-113,637,000	-975,000	-2,893,000				-15,526,000	5,361,000	2,891,000	-17,500,000	-46,421,000	-693,000	622,000	-7,420,000	-30,277,000	-5,139,000	-13,221,000	-1,571,000								-2,883,000	0	0				-1,689,000												0
straight-line rent and effective interest receivables	-13,418,000	-10,943,000	-12,583,000	-13,720,000	-11,441,000	-8,656,000	-9,201,000	-10,435,000	-8,157,000	-10,681,000	-12,576,000
interest paid-in-kind	-4,350,000	-2,525,000	-2,471,000	-2,420,000	-2,369,000	-3,099,000	-3,575,000	-3,373,000	-2,771,000	-2,666,000	-2,555,000	-2,444,000	-2,468,000	-2,315,000	-2,196,000	-2,074,000	-1,891,000	-2,066,000	-1,757,000	-1,446,000	-1,416,000	-1,451,000	-1,602,000	-1,891,000
loss from unconsolidated entities
other non-cash items	-6,176,000	-4,613,000	255,000
change in operating assets and liabilities – net:
contractual receivables	-1,006,000	2,484,000	-1,425,000	-2,274,000	23,000	491,000	915,000	-2,377,000	-673,000	-790,000	180,000	1,718,000	411,000	2,814,000	-1,912,000	-16,919,000	-5,775,000	-1,744,000	1,108,000	480,000	103,000	702,000	6,193,000	-4,630,000	-1,203,000	-2,125,000
lease inducements	228,000	253,000	-9,750,000	-760,000	234,000	232,000	233,000	-3,240,000	176,000	177,000	-12,323,000	177,000	1,915,000	1,933,000	1,932,000	-18,289,000	-14,718,000	-11,859,000	-5,499,000	-9,995,000	-423,000	-764,000	838,000	-32,389,000	-9,761,000	447,000	448,000	447,000	647,000	648,000	647,000	647,000	647,000			-2,110,000	647,000	647,000	647,000	715,000
other operating assets and liabilities	2,438,000	16,089,000	-7,332,000	33,165,000	1,400,000	9,665,000	-10,470,000	14,754,000	1,535,000	6,718,000	-19,232,000	21,281,000	-2,232,000	9,921,000	-22,498,000	14,134,000	993,000	-11,718,000	4,634,000	-23,211,000	14,039,000	-10,951,000	12,539,000	-50,506,000	8,672,000	-4,233,000	12,986,000	-34,653,000	9,355,000	17,698,000	-4,066,000	-19,989,000	1,469,000	-6,253,000	-1,594,000	23,819,000	-3,480,000	9,828,000	7,752,000	-2,563,000	5,163,000	11,860,000	-764,000	-8,231,000	-7,207,000	11,442,000	-3,814,000	-324,000	-4,270,000	5,887,000	-6,389,000	-2,829,000	3,894,000	867,000	-5,490,000	3,491,000		2,602,000	2,947,000	4,568,000
net cash from operating activities	226,714,000	239,265,000	181,952,000	228,968,000	184,885,000	184,103,000	151,474,000	164,980,000	171,020,000	170,376,000	111,360,000	153,682,000	166,849,000	172,994,000	132,202,000	156,529,000	147,992,000	140,343,000	155,337,000	110,075,000	150,908,000	131,299,000	164,266,000	52,900,000	147,651,000	164,675,000	151,648,000	113,938,000	168,554,000	170,342,000	159,716,000	127,179,000	141,081,000	129,712,000	89,798,000	103,294,000	77,946,000	92,839,000	88,699,000	78,056,000	79,899,000	78,722,000	63,728,000	57,600,000	51,304,000	62,543,000	44,880,000	49,544,000	40,753,000	51,866,000	38,446,000	38,706,000	47,119,000	44,506,000	27,141,000	38,797,000	32,788,000	33,498,000	35,540,000	45,397,000	29,184,000	5,509,000	26,158,000	28,477,000	17,568,000	24,327,000	21,391,000	21,256,000	14,796,000	5,332,000	17,812,000	24,871,000	17,773,000	20,851,000	11,818,000	22,515,000
capital expenditures	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows	226,714,000	239,265,000	181,952,000	228,968,000	184,885,000	184,103,000	151,474,000	164,980,000	171,020,000	170,376,000	111,360,000	153,682,000	166,849,000	172,994,000	132,202,000	156,529,000	147,992,000	140,343,000	155,337,000	110,075,000	150,908,000	131,299,000	164,266,000	52,900,000	147,651,000	164,675,000	151,648,000	113,938,000	168,554,000	170,342,000	159,716,000	127,179,000	141,081,000	129,712,000	89,798,000	103,294,000	77,946,000	92,839,000	88,699,000	78,056,000	79,899,000	78,722,000	63,728,000	57,600,000	51,304,000	62,543,000	44,880,000	49,544,000	40,753,000	51,866,000	38,446,000	38,706,000	47,119,000	44,506,000	27,141,000	38,797,000	32,788,000	33,498,000	35,540,000	45,397,000	29,184,000	5,509,000	26,158,000	28,477,000	17,568,000	24,327,000	21,391,000	21,256,000	14,796,000	5,332,000	17,812,000	24,871,000	17,773,000	20,851,000	11,818,000	22,515,000
cash flows from investing activities
acquisition of real estate	-67,422,000	-502,057,000	-58,365,000	-178,825,000	-101,830,000	-114,711,000	-13,262,000	-51,237,000	-56,289,000	-128,544,000	-26,383,000	-88,626,000	-28,193,000	-11,000	-113,157,000	34,000	-346,554,000	-24,890,000			-52,375,000	0	-23,072,000	-29,672,000		-214,291,000	-123,403,000	-7,574,000																																	-19,525,000	-40,000,000	-48,035,000	-5,200,000	0								-128,008,000	0	-62,643,000	-58,053,000
net proceeds from sale of real estate investments	81,066,000	62,114,000	120,881,000	26,288,000	23,863,000	34,805,000	10,089,000	323,743,000	199,004,000	44,725,000	17,559,000	320,768,000	51,418,000	54,309,000	332,552,000	7,680,000	33,251,000	176,963,000	8,692,000	356,000	63,235,000	24,399,000	147,207,000	74,745,000
investments in construction in progress	-1,748,000	-14,650,000	-15,081,000	-9,688,000	-17,143,000	-27,643,000	-14,506,000	-15,427,000	-14,387,000	-9,901,000	-4,780,000	-4,377,000	-4,775,000	-3,311,000	-4,667,000	-3,141,000	-41,491,000	-23,161,000	-44,175,000	-30,851,000	-40,681,000	-35,447,000	-41,458,000	-21,855,000	-17,280,000	-23,301,000	-30,405,000	-15,703,000
investment in loan receivables and other	-31,115,000	-68,656,000	-41,111,000
collection of loan principal	20,060,000	37,540,000	62,757,000	94,065,000	48,117,000	51,093,000	14,342,000	29,228,000	14,045,000	69,907,000	52,011,000
investments in unconsolidated entities
distributions from unconsolidated entities in excess of earnings
capital improvements to real estate investments	-21,235,000	-12,768,000	-20,173,000	-15,479,000	-8,268,000	-7,069,000	-6,941,000	-14,706,000	-10,114,000	-7,851,000	-5,340,000	-9,500,000	-11,461,000	-12,712,000	-13,548,000	-15,993,000	-13,352,000	-14,936,000	-14,405,000	-10,199,000	-5,399,000	-5,242,000	-9,587,000	-9,596,000	-12,473,000	-8,432,000	-8,662,000	-8,199,000	-9,063,000	-9,596,000	-12,268,000	-9,544,000	-8,243,000			-5,604,000	-5,233,000	-4,322,000	-5,028,000	-3,334,000		-6,425,000
proceeds from derivative instruments	0							0	0
receipts from insurance proceeds	4,086,000	70,000	322,000	1,418,000	0	30,000	1,627,000	725,000	2,316,000	3,269,000	448,000	593,000	93,000	543,000	22,000	45,000	1,292,000	1,044,000	4,458,000	1,376,000	1,806,000	10,000	5,811,000	1,090,000
net cash from investing activities	-83,799,000	-463,547,000	19,261,000	-281,734,000	-133,458,000	-208,518,000	-47,454,000	111,324,000	72,575,000	-187,326,000	2,657,000	170,432,000	-4,745,000	99,828,000	177,338,000	-72,021,000	-450,484,000	86,543,000	-87,138,000	72,126,000	-22,667,000	-144,302,000	-4,803,000	-1,447,000	114,915,000	-264,195,000	-152,204,000	16,351,000	20,957,000	-425,897,000	-35,188,000	-673,780,000	-46,660,000			-18,527,000	-86,981,000	-20,671,000	-319,910,000	-120,383,000	-529,036,000	-24,838,000	-33,501,000	-11,456,000	-162,516,000	-210,834,000	-27,385,000	10,032,000	-237,614,000	-6,697,000	-7,662,000	-5,667,000	-26,030,000	-8,868,000	-336,975,000	-22,942,000	-195,292,000	-6,669,000	-7,004,000	-39,000	-28,828,000	-17,551,000	-131,210,000	-9,510,000	2,741,000	-31,185,000	-4,548,000	3,086,000					-154,294,000	12,824,000	-61,996,000	8,125,000
cash flows from financing activities
proceeds from long-term borrowings	0			0	179,319,000			0	427,072,000			0	82,195,000	95,000,000	420,208,000	55,000,000
payments of long-term borrowings	-1,256,000	-126,640,000	-400,600,000	-2,513,000	-252,660,000	-848,250,000	-41,878,000	-227,741,000	-421,249,000	-84,088,000	-1,913,000	-1,898,000	-112,508,000	-407,990,000	-66,896,000	-56,882,000																																																									-79,318,000
payments of financing related costs	-19,060,000			-115,000	-5,011,000	-609,000	-1,283,000	-494,000	-3,327,000	0	-6,000	0	-376,000	-7,000	-6,000	-55,000	-733,000						0	-8,000	0	-715,000	-27,920,000	-563,000	-60,000	-8,189,000	-5,000	-3,576,000	-24,012,000			-21,318,000	-397,000	-4,579,000	-8,585,000	-4,155,000	-2,181,000	-21,000	-226,000	-806,000	-3,974,000	-230,000	-403,000	-12,517,000
net proceeds from issuance of common stock	88,959,000	257,128,000	260,723,000	434,434,000	526,037,000	242,836,000	32,350,000	8,658,000	126,133,000	199,626,000	1,985,000	2,287,000	2,334,000	2,344,000	1,147,000	1,582,000	297,819,000	4,175,000			48,330,000	-307,000			-76,000	15,562,000	-125,000	6,759,000					-416,000	-298,000	17,000	440,019,000	-16,000	4,845,000	29,334,000	27,818,000	118,214,000	61,895,000	46,811,000	51,453,000	-55,000	62,099,000	10,404,000	5,170,000	-27,000	-113,000	3,242,000	28,108,000	1,847,000	63,409,000	36,786,000	36,739,000	-75,000
dividends paid	-198,211,000	-194,567,000	-189,218,000	-181,447,000	-173,278,000	-165,962,000	-164,758,000	-164,566,000	-164,485,000	-157,437,000	-157,379,000	-157,336,000	-157,288,000	-157,628,000	-160,641,000	-160,580,000	-146,875,000	-143,441,000	-137,178,000	-136,633,000	-132,958,000	-132,717,000	-131,572,000	-131,449,000	-129,179,000	-126,702,000	-124,450,000	-122,272,000	-119,489,000	-116,595,000	-109,568,000	-107,500,000	-105,127,000			-68,261,000	-67,232,000	-65,777,000	-63,822,000	-61,670,000	-59,043,000	-55,063,000	-53,431,000	-50,579,000	-49,512,000	-45,661,000	-44,437,000	-42,580,000	-41,438,000	-41,411,000	-38,776,000	-40,268,000	-39,811,000	-36,420,000	-32,053,000	-30,599,000	-27,855,000	-27,301,000	-27,044,000	-27,035,000	-27,041,000	-25,267,000	-23,316,000	-22,439,000	-21,602,000	-20,917,000	-20,635,000	-18,106,000					-13,835,000	-13,780,000	-10,762,000	-17,372,000
net payments to noncontrolling members of consolidated joint venture				0	0			0	4,000
redemption of omega op units	-2,087,000							0	0												-16,000	0			0	0
distributions to omega op unit holders	-7,395,000	-7,453,000	-18,603,000	-6,266,000	-6,276,000	-6,260,000	-10,452,000	-5,646,000	-5,984,000	-5,636,000	-9,131,000	-5,080,000	-5,080,000	-5,062,000	-5,276,000	-5,124,000	-4,208,000	-4,953,000	-5,120,000	-7,013,000	-5,848,000	-5,880,000			-5,807,000	-5,676,000
net cash from financing activities	-139,050,000	588,955,000	-347,698,000	243,409,000	268,131,000	-299,200,000	-186,021,000	-389,789,000	-41,836,000	124,737,000	-166,422,000	-161,973,000	-190,718,000	-597,993,000	161,237,000	-166,138,000	292,279,000	-218,474,000	-75,174,000	-152,590,000	-127,595,000	10,950,000	-224,517,000	-69,539,000	-203,824,000	102,560,000	-18,762,000	-183,789,000	-128,406,000	254,892,000	-100,879,000	550,689,000	-104,202,000			610,887,000	13,072,000	-100,405,000	239,526,000	60,085,000	383,996,000	6,834,000	-48,799,000	-22,244,000	105,972,000	152,381,000	-17,351,000	-57,210,000	186,482,000	-39,435,000	-29,169,000	-36,579,000	-15,360,000	-36,403,000	236,597,000	57,169,000	164,028,000	-31,106,000	-33,828,000	-35,352,000	-3,937,000	13,667,000	105,701,000	-19,430,000	-18,938,000	4,982,000	-17,014,000	-22,416,000					139,701,000	-33,441,000	40,866,000	-32,877,000
effect of foreign currency translation on cash, cash equivalents and restricted cash	-1,445,000	3,839,000	1,822,000	-2,218,000	1,621,000	-280,000	297,000	298,000	-353,000	206,000	279,000	325,000	-1,672,000	-1,146,000	-407,000	36,000	1,361,000	-318,000	-287,000	118,000	-114,000	-357,000	-496,000	377,000
increase in cash, cash equivalents and restricted cash	2,420,000			188,425,000				-113,187,000	201,406,000	107,993,000	-52,126,000	162,466,000	-30,286,000	-326,317,000	470,370,000	-81,594,000	-8,852,000	8,094,000	-7,262,000	29,729,000
cash, cash equivalents and restricted cash at beginning of period	0	0	548,735,000	0	0	0	444,730,000	0	0	0	300,644,000	0	0	0	24,411,000	0		0	0	11,671,000		0	0	96,808,000
cash, cash equivalents and restricted cash at end of period	2,420,000	368,512,000	404,072,000	188,425,000	321,179,000	-323,895,000	363,026,000	-113,187,000	201,406,000	107,993,000	248,518,000	162,466,000	-30,286,000	-326,317,000	494,781,000	-81,594,000		8,094,000	-7,262,000	41,400,000		-2,410,000	-65,550,000	79,099,000
provision (recovery) for credit losses							8,470,000								1,824,000
loss from unconsolidated joint ventures		3,187,000	-121,000	6,278,000	-5,948,000	790,000	827,000	-2,145,000	2,290,000	-100,000	137,000
investments in unconsolidated joint ventures		-236,000	-1,014,000	-573,000	-80,000	-257,000	-61,000	-172,000	-3,983,000			0	0			0
distributions from unconsolidated joint ventures in excess of earnings		310,000	1,156,000	-1,818,000	1,585,000	308,000	942,000	5,791,000	1,882,000	752,000	382,000	1,993,000	159,000	1,115,000	61,000	197,000	1,004,000	5,986,000
provision for credit losses			5,092,000					32,913,000	2,733,000			64,296,000
loss on assets sold – net			-10,075,000				1,391,000
acquisition deposit			-30,111,000															2,482,000
proceeds from net investment hedges				0	0	0	8,429,000
decrease in cash, cash equivalents and restricted cash			-144,663,000			-323,895,000	-81,704,000															-2,410,000	-65,550,000	-17,709,000
provision for rental income				3,038,000				0	7,232,000	901,000	12,500,000	96,133,000
(recovery) provision for credit losses				-720,000	-9,061,000						-4,057,000
accretion of direct financing leases				42,000	36,000	36,000	34,000	34,000	27,000	27,000	26,000	26,000	19,000	19,000	19,000	18,000	7,000	-3,000	-1,000	10,000	20,000	22,000	34,000	33,000	32,000	25,000	-3,148,000	-3,016,000	-3,158,000	-3,084,000	-2,994,000	-2,921,000	-2,883,000			-2,614,000	-2,545,000	-2,478,000	-2,414,000	-2,350,000
amortization of acquired in-place leases – net				651,000	-1,275,000	-531,000	-531,000	-539,000	-2,136,000	-644,000	-6,131,000	-2,102,000	-976,000	-976,000	-1,608,000	-1,064,000	-1,231,000	-1,287,000	-1,560,000	-1,826,000
placement of loan principal				-197,122,000	-79,702,000	-145,074,000	-48,113,000	-177,999,000	-59,899,000	-151,488,000	-31,240,000
repurchase of common stock												0	0	-114,946,000	-27,321,000
recovery on direct financing leases
acquisition deposit – net
proceeds from sale of direct financing lease and related trust																0	5,000,000	0
noncontrolling members’ contributions to consolidated joint venture											22,000	54,000	5,000	0	22,000
effective yield payable (receivable) on mortgage notes																441,000
income from unconsolidated joint ventures												3,056,000	-1,098,000
straight-line rent receivables												-6,481,000	-14,533,000	-15,893,000	-24,137,000	-13,805,000	-10,988,000	-11,510,000	-12,790,000	-11,292,000	-14,772,000	-16,041,000	-16,249,000	-14,497,000	-11,681,000	9,615,000	-11,427,000	-11,747,000	-12,132,000	-12,203,000	-7,809,000	-9,947,000	-9,492,000			-5,275,000	-5,037,000	-5,218,000	-5,377,000	-5,324,000
acquisition of a business, net of cash acquired																	0	0
acquisition deposit - net
effective yield payable on mortgage notes													589,000	485,000	463,000
placement of mortgage loans													-3,912,000	-2,317,000	-2,801,000	-2,652,000	-5,963,000	-5,069,000	-4,425,000	-5,245,000	-3,155,000	-5,241,000	-50,195,000	-6,749,000	-5,319,000	-4,346,000	-19,229,000	-5,749,000	-20,827,000	-15,367,000	-6,366,000	-6,162,000	-6,441,000			-2,002,000	-768,000	-437,000	-415,229,000	-113,114,000	-151,000	-358,000	-820,000	-2,049,000	-4,843,000	-2,171,000	-3,646,000	-1,309,000	-119,581,000	-5,854,000	-2,858,000	-1,749,000	-18,285,000								0	0			0	0	0	-345,000
collection of mortgage principal													47,896,000	116,352,000	22,913,000	1,128,000	11,150,000	854,000	42,036,000	489,000	476,000	436,000	379,000	24,797,000	471,000	385,000	340,000	333,000	1,826,000	16,098,000	41,739,000	312,000	334,000	-710,000	1,447,000	288,000	279,000	5,183,000	117,390,000	132,000		121,000	118,000	119,000																											10,196,000	196,000	733,000	377,000	371,000	60,121,000
investments in other investments													-106,621,000	-98,377,000	-100,225,000	-70,571,000	-32,052,000	-54,531,000	-5,591,000	-8,138,000	-10,923,000	-181,822,000	-103,002,000	-89,960,000	-52,972,000	-33,847,000	-30,084,000	-22,144,000	-28,558,000	-106,463,000	-20,533,000	-116,003,000	-15,913,000			-1,468,000	-2,730,000	-1,332,000	-1,314,000	-4,065,000	-4,460,000	-1,947,000	-27,280,000	-2,968,000	-5,066,000	-1,113,000	-2,489,000	-1,069,000	-28,659,000	-2,555,000	-1,697,000	-593,000	0	-2,080,000	-34,000	-14,322,000		-10,800,000	-14,420,000	-13,855,000		-7,065,000	-11,501,000	-5,004,000		-3,300,000
proceeds from other investments													50,651,000	44,350,000	56,188,000	19,482,000	19,144,000	21,801,000	7,965,000	42,371,000	19,253,000	56,423,000	51,822,000	53,873,000	50,651,000	9,048,000	12,816,000	23,181,000	47,307,000	23,559,000	24,462,000	1,461,000	8,443,000	23,222,000	12,051,000	2,155,000	5,637,000	5,607,000	1,278,000	1,067,000	26,849,000	1,171,000	1,172,000	1,770,000	3,534,000	1,781,000	1,980,000	8,060,000	3,797,000	1,439,000	767,000	980,000	2,604,000	4,171,000	14,088,000	461,000	2,523,000	11,109,000	11,603,000	16,803,000	2,428,000	4,615,000	6,688,000	2,779,000		12,872,000	825,000	1,132,000		9,850,000	10,441,000	6,801,000
redemption of op units													0											-72,000				-56,000	-1,000	-722,000	0	-10,000
benefit from rental income														11,654,000	3,151,000	16,449,000	150,000
benefit from credit losses																49,710,000
(income) income from unconsolidated joint ventures															-677,000	-530,000
(recovery) impairment on direct financing leases
refund of acquisition deposit
receipts from dividend reinvestment plan																	23,206,000	37,742,000	21,818,000	32,285,000	9,897,000	9,854,000	22,164,000	4,886,000	6,586,000	10,415,000	12,386,000	7,335,000	10,272,000	136,436,000	73,737,000	19,596,000	85,182,000	35,554,000	24,697,000	5,414,000	5,224,000	20,459,000	14,264,000	31,540,000		6,233,000	5,258,000	36,330,000		37,156,000	54,752,000	14,224,000		14,304,000	23,088,000	17,525,000		15,543,000	15,312,000	12,214,000		10,106,000	6,784,000	183,000					6,665,000	4,400,000			3,935,000	11,841,000	9,732,000	7,588,000
taxes paid on vested restricted stock
(recovery) benefit from credit losses
loss (income) from unconsolidated joint ventures
proceeds from credit facility borrowings																	620,000,000	206,000,000	510,000,000	171,000,000	288,000,000	454,000,000	232,000,000	317,000,000	200,000,000	670,000,000	669,000,000	148,000,000	170,000,000	255,000,000	209,000,000	670,000,000	122,000,000	922,000,000	776,000,000	6,000,000	144,000,000	166,000,000	470,000,000	120,000,000		-100,000,000	46,000,000	155,000,000		180,000,000	47,000,000	45,000,000		115,000,000	57,000,000	117,000,000		43,000,000	265,000,000	6,000,000		20,500,000	84,000,000	34,000,000		63,000,000	166,500,000	74,300,000		54,000,000	30,000,000	15,400,000		186,000,000	29,000,000	19,200,000		12,200,000	121,000,000	47,000,000
payments on credit facility borrowings																	-495,000,000	-706,000,000	-490,100,000	-289,000,000	-335,000,000	-314,000,000	-367,000,000	-252,000,000	-275,000,000	-460,000,000	-637,000,000	-215,000,000	-203,000,000	-502,000,000	-269,000,000	-370,000,000	-442,000,000			-91,000,000	-62,000,000	-433,000,000	-200,000,000	-446,000,000		-5,000,000	-41,000,000	-213,000,000		-80,000,000	-72,000,000	-290,500,000		-123,000,000	-73,000,000	-48,000,000		-121,000,000	-44,000,000	-100,100,000		-57,500,000	-93,000,000	-42,500,000		-131,000,000	-146,500,000	-40,300,000		-32,000,000	-147,000,000	-18,400,000
receipts of other long-term borrowings																	0	492,710,000	0	2,275,000					0	0			0	698,173,000	0	350,000,000	250,000,000	598,302,000	300,000,000	689,822,000	0	247,828,000	0	594,320,000	0	0	0	59,355,000	0	0	0	400,000,000					583,214,000	0	0	196,556,000
payments of other long-term borrowings																	-1,222,000				0	0	-1,721,000	-328,000	-325,000	-324,000	-1,251,821,000	-318,000	-315,000	-180,314,000	-311,000	-309,000				-347,883,000	-4,512,000	-35,542,000	-1,252,000	-201,238,000	-1,224,000	-1,210,000	-52,211,000	-59,997,000	-1,029,000	-983,000	-12,667,000	-176,007,000	-757,000	-620,000	-612,000	-604,000	-410,596,000	-528,000	0	-59,354,000						-435,000	0	-39,000,000
payments for exercised options and restricted stock																	-708,000	-653,000	-916,000	-2,279,000	0	0	0	-1,654,000	-23,000	0	0	-2,120,000
effective yield receivable on mortgage notes																	85,000	85,000	-171,000	-172,000	-179,000	-179,000	-356,000	-354,000	-366,000	-367,000	-598,000	-593,000	-512,000	410,000	200,000	-819,000	-906,000			-1,120,000	-1,147,000	-1,147,000	-265,000	-319,000	-341,000	-342,000	-529,000	-545,000	-561,000	-561,000	-559,000	-554,000	-409,000	-257,000
proceeds from direct financing lease and related trust																				86,743,000
cash, cash equivalents and restricted cash at beginning of year
cash, cash equivalents and restricted cash at end of year
interest – amortization of deferred financing costs
(gain) loss on assets sold – net																																					0											-5,316,000
noncontrolling members' contributions to consolidated joint venture																	0	0	0	228,000
impairment on direct financing leases																	217,000	0	0	7,700,000	27,153,000
benefit from uncollectible accounts																						-2,015,000	564,000	7,814,000		8,590,000	2,673,000	2,404,000
interest - amortization of deferred financing costs and refinancing costs
income from unconsolidated joint venture
cash acquired in acquisition
investments in direct financing leases																									-232,000	-2,184,000	-2,538,000	-2,229,000
interest - amortization of deferred financing costs																		2,277,000	2,238,000	2,238,000		2,238,000	2,242,000	2,243,000
provision for uncollectible accounts
acquisition of real estate or other																				-5,879,000
distributions from unconsolidated joint venture in excess of earnings																				1,103,000
net proceeds (costs) from issuance of common stock																				76,547,000
amortization of acquired in-place leases - net																					-3,189,000	-2,241,000	-2,590,000	-2,687,000	-2,809,000	-2,899,000	-3,106,000	-3,096,000	-3,034,000	-3,047,000	-3,610,000	-4,300,000	-9,582,000			-1,192,000	-1,207,000	-1,208,000	-1,284,000	-1,287,000		-1,318,000	-1,199,000	-1,304,000		-1,236,000	-1,426,000	-1,426,000
proceeds from sale of direct financing lease																					4,032,000	1,514,000
investments in unconsolidated joint venture
distributions from unconsolidated joint venture																						668,000	1,859,000	1,880,000	1,209,000	1,225,000	1,154,000	8,587,000
cash acquired																										0
impairment loss on real estate properties																								4,914,000	63,460,000	17,837,000	10,135,000	7,638,000																							0	24,971,000		0				89,000	0	70,000		170,000	0	1,514,000
net (costs) proceeds from issuance of common stock																								-29,000
distributions to op unit holders																								-5,885,000				-5,554,000	-5,441,000	-5,387,000	-5,220,000	-5,131,000	-5,038,000
adjustments to reconcile net income to net cash from operating activities:
impairment loss on direct financing leases																									231,000
provisions for uncollectible accounts
refinancing costs and amortization of deferred financing costs																									2,243,000	2,228,000	12,738,000	2,502,000
change in operating assets and liabilities – net of amounts assumed/acquired:
acquisition of real estate – net of liabilities assumed and escrows acquired																													0	-336,900,000	-206,744,000	-416,104,000	-5,892,000			-6,300,000	-84,189,000	-25,500,000	-17,300,000	-4,700,000	-30,115,000				-163,962,000	-205,739,000	-25,070,000	-1,852,000	-86,606,000	0			0	0
cash acquired in acquisition/merger
proceeds from sale of direct financing lease assets																									232,000
proceeds from sale of real estate investments																									188,024,000	5,727,000	18,213,000	45,848,000	104,857,000	20,974,000	41,380,000	2,392,000	2,000	14,695,000	26,591,000	255,000			293,000	3,631,000	4,000	0			4,829,000	2,188,000	7,938,000	14,068,000	1,000,000				0	53,000	0	28,000	777,000	0			9,000	28,866,000	0	3,027,000	2,788,000	0	2,571,000	3,683,000	879,000	870,000			34,576,000	942,000	18,064,000	6,931,000
increase in cash, cash equivalents, and restricted cash
cash, cash equivalents, and restricted cash at beginning of year
cash, cash equivalents, and restricted cash at end of year
effect of foreign currency translation on cash and cash equivalents																										247,000	0	162,000	15,000	271,000	-97,000	-105,000	-114,000	-150,000
increase in cash and cash equivalents																										3,287,000	-19,318,000	-53,338,000	61,189,000	-663,000	23,649,000	4,088,000	-9,781,000	-9,685,000	-675,030,000	695,654,000	4,037,000	-28,237,000	8,315,000	17,758,000	-65,141,000	60,718,000	-18,572,000	23,900,000	-5,240,000	4,090,000	144,000	2,366,000	-10,379,000			-3,540,000	5,729,000	-765,000	-73,237,000	73,024,000	1,524,000	-4,277,000				1,625,000
cash and cash equivalents at beginning of period																										0	0	93,687,000		0	0	5,424,000		0	0	4,489,000		0	0	2,616,000		0	0	1,711,000		0	0	351,000		0	0	6,921,000		0	0	2,170,000		0	0	209,000		0	0	1,979,000		0	0	729,000		0	0	3,948,000		0	0	12,083,000
cash and cash equivalents at end of period																										3,287,000	-19,318,000	40,349,000		-392,000	23,552,000	9,407,000		-9,835,000	-674,989,000	700,143,000		-28,237,000	8,315,000	20,374,000		60,718,000	-18,572,000	25,611,000		4,090,000	144,000	2,717,000		5,734,000	1,615,000	3,381,000		-765,000	-73,237,000	75,194,000		-4,277,000	-5,292,000	10,215,000		1,625,000	649,000	1,516,000		-1,876,000	-171,000	2,655,000			13,650,000	403,000		234,000	-9,312,000	9,846,000
proceeds from direct financing leases
accounts receivable																												-21,377,000				560,000	-67,000	-814,000	1,325,000	-196,000	-12,000	-3,164,000	1,343,000	-431,000	928,000	-208,000	-488,000	635,000	-441,000	-175,000	194,000	176,000	-1,818,000	339,000	109,000	-93,000	1,988,000	-652,000	-1,471,000	90,000		75,000	321,000	-177,000		2,792,000	-2,875,000	746,000		-195,000	-1,389,000	1,406,000
deposit to acquire real estate																																-113,816,000
benefit from uncollectible mortgages, notes and accounts receivable																																5,124,000	7,579,000			-2,000	-7,000	-15,000				2,321,000
cash acquired in merger																																	0	0
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
interest paid during the year, net of amounts capitalized
taxes paid during the year
adjustment to reconcile net income to cash from operating activities:
provision for impairment on real estate properties																																																																						0	0	121,000		5,454,000
provision for uncollectible mortgages, notes and accounts receivable																																																																										0
amortization of deferred financing costs and refinancing costs																														4,317,000	2,210,000	2,430,000	22,430,000	1,857,000
stock-based compensation																														3,673,000	3,665,000	2,778,000		2,199,000	2,873,000	1,610,000
accounts receivable – net																														-653,000
investment in construction in progress																														-17,153,000	-10,644,000	-16,316,000	-18,950,000			-5,851,000
investment in direct financing leases																														-1,049,000			0
escrow deposit for other long-term borrowing
payments for exercised options and restricted stock – net																														-21,023,000						-1,906,000	-1,995,000	-639,000	-413,000	-530,000
interest paid during the period, net of amounts capitalized																														42,159,000	37,413,000	36,597,000		29,463,000	35,244,000	25,829,000	34,643,000	25,898,000	24,135,000	26,243,000		24,451,000	25,305,000	26,092,000		23,800,000	24,160,000	22,163,000		17,495,000	21,491,000	16,896,000		20,255,000	13,695,000	7,814,000		6,866,000	11,168,000	6,474,000		7,181,000	12,142,000	7,437,000
benefit from impairment on real estate properties																															6,893,000	34,558,000	3,040,000	1,743,000	6,916,000	5,982,000	0	2,102,000
provision (recovery) for uncollectible mortgages, notes and accounts receivable
payments for exercised options and restricted stock - net																																-2,381,000
restricted stock amortization expense																																					2,022,000	2,022,000	2,285,000	2,263,000	1,509,000	1,509,000	1,472,000	1,452,000	1,486,000	1,485,000	1,486,000	1,485,000	1,519,000	1,520,000	1,519,000	1,479,000	455,000	450,000	467,000	839,000	479,000	480,000	479,000	480,000	526,000	526,000	525,000	526,000	545,000	546,000	308,000	26,000	293,000	3,639,000	292,000	293,000	285,000	285,000	286,000	285,000
payments on other long-term borrowings
escrow deposit for other long-term borrowings
non-cash investing and financing activities:
non- cash investing activities
non-cash acquisition of business
total
non-cash financing activities
assumed aviv debt
stock exchanged in merger
op units exchanged in merger
amortization of deferred financing and debt extinguishment costs																																				10,730,000	1,321,000			2,962,000				682,000		673,000
non-cash financing activities:
accrued dividends																																				50,221,000
other																																													-550,000	-38,000	-37,000	-38,000	-38,000	-37,000	-37,000	-38,000	20,000	-38,000	23,000	-98,000	-52,000	-43,000	-43,000	-43,000	-47,000	-47,000	-47,000	-47,000	-37,000	-17,000	-170,000	-72,000					11,000	-16,000	-1,429,000	-87,000
proceeds from sale of real estate investments – net																																					23,000
proceeds from term loan																																									0
deposit for proposed capital lease
amortization of deferred financing and debt extinguishment costs/
(gain)/loss on assets sold – net
cash flow from operating activities
provisions for uncollectible mortgages, notes and accounts receivable
amortization of deferred financing cost and refinancing
straight-line rent																																											-7,692,000	-6,010,000	-5,659,000	-6,625,000	-6,579,000	-6,541,000	-2,664,000	-3,224,000	-3,269,000	-3,403,000	-4,282,000	-2,967,000	-2,015,000	-1,946,000		-2,253,000	-2,343,000	-2,391,000		-3,546,000	-2,544,000	-1,869,000		-2,298,000	-2,191,000	-7,257,000
lease inducement																																											843,000	842,000	842,000	843,000	842,000	842,000	842,000	842,000	941,000	755,000	255,000	-25,000	40,000	-276,000		133,000	-171,000	570,000		-4,895,000	818,000	818,000		119,000	472,000	758,000
operating assets and liabilities for owned and operated properties																																																	-197,000	0	51,000	-98,000	-700,000	2,965,000	-125,000	81,000		-506,000	2,488,000	5,977,000
cash flow from investing activities
capital improvements and funding of other investments																																												-8,328,000	-9,330,000	-5,899,000	-6,222,000	-7,985,000	-7,585,000	-3,894,000	-3,793,000	-4,325,000	-10,367,000	-8,655,000	-7,864,000	-9,139,000	-8,592,000	-7,115,000	-4,405,000	-3,120,000	-4,264,000	-4,200,000	-3,660,000	-5,334,000	-3,087,000	-1,444,000	-2,451,000	-1,568,000					-1,072,000	-1,411,000	-11,000	-1,327,000
collection of mortgage principal – net																																													12,322,000	119,000	124,000	119,000	20,000	17,000	17,000	20,000	18,000	15,000	15,000	30,000		137,000	133,000	133,000		233,000	226,000	222,000		190,000
cash flow from financing activities
proceeds from credit line borrowings
payments of credit line borrowings
receipts from dividend reinvestment plan – net
redemption of preferred stock																																																	0	0	-4,000	-108,552,000																					-13,000	0
amortization of deferred financing and debt extinguishment (gain)/costs																																										699,000
amortization of deferred financing and refinancing costs																																																7,737,000	648,000	3,700,000				978,000
gain on sale of securities																																																					0	0
provisions for uncollectible accounts receivable
payments from exercised options and restricted stock – net																																																		0	0	-1,254,000
investment in purchase option
payment of financing related costs																																																			-107,000	-534,000	-22,348,000	-407,000	-4,533,000	-4,291,000		-215,000
provisions for uncollectible mortgages, notes, and accounts receivable
amortization of in-place leases																																																		-1,408,000	-1,616,000	-1,616,000
non-cash investing activities
assumed debt obligations
non-cash settlement of mortgage obligations
non-cash acquisition of real estate properties
stock consideration issued for acquisition
net non-cash investing activities
decrease in cash and cash equivalents
amortization of deferred financing costs																																																				694,000				978,000		690,000	500,000	500,000		500,000	500,000	500,000		500,000	500,000	459,000		439,000	431,000	643,000		539,000
amortization of straightline mortgage interest income																																																				-421,000
income from accretion of marketable securities to redemption value																																																													-52,000	-52,000	-51,000	-52,000	-52,000	-52,000	-51,000	-52,000
refinancing costs																																																									0	0											0	0	0	3,485,000
income tax liabilities
repurchase of preferred stock
amortization of other non-cash interest charges
payments from exercised options – net																																																						0	85,000	4,000
change in operating assets and liabilities:
impairment
amortization for deferred financing costs																																																																												506,000
gain on assets and equity securities sold - net
net change in accounts receivable																																																																									-1,106,000	-738,000	601,000	940,000
net change in straight-line rent
net change in lease inducement
net change in income tax liabilities
net change in other operating assets and liabilities
net change in operating assets and liabilities for owned and operated properties
investments in other investments– net
payment of financing costs
receipts/(payments) for exercised options and restricted stock – net
uncollectible accounts receivable																																																														0
tax liabilities
payments from exercised options and taxes on restricted stock – net
offering costs for equity shelf program – net of proceeds from issuance of common stock
payments/proceeds from common stock offering – net
losses on assets sold and equity securities – net																																																																-477,000
increase (decrease) in cash and cash equivalents																																																												10,006,000								1,926,000
gain on investment restructuring
adjustment of derivatives to fair value
net change in other assets																																																																					617,000	343,000	-176,000	1,774,000	1,988,000	1,952,000	2,991,000	-2,856,000
proceeds from sale of equity securities
payment to trustee to redeem long-term borrowings
receipts/(payments) for exercised options – net
proceeds from common stock offering
payment on common stock offering
(decrease) increase in cash and cash equivalents																																																																-463,000									3,180,000			-2,237,000
operating activities
gains on assets sold and equity securities – net																																																														-11,806,000
other assets																																																														-4,144,000	394,000	-1,276,000		575,000	824,000	-1,371,000
other assets and liabilities																																																														1,239,000	-1,665,000	1,464,000				-502,000
owned and operated
prepayment of re-financing penalty
receipts/(payments) from dividend reinvestment plan																																																														10,221,000	10,189,000	10,096,000
receipts/(payments) from exercised options and taxes on restricted stock – net																																																														0	0	-2,087,000		0
net proceeds from common stock offering																																																														97,148,000				0
provisions for impairment																																																																												3,700,000
provision for impairment on equity securities																																																																									0	0
amortization for deferred finance costs
proceeds from other investments and assets held for sale – net
payment of re-financing related costs
change in fair value of derivatives
other liabilities																																																																		1,231,000
proceeds from sale of stock																																																																					0
receipts from other long-term borrowings																																																																						0	0	39,000,000
financing costs paid																																																																		-3,000	-101,000	-591,000
interest paid during the period																																																																		7,118,000	11,957,000	8,609,000		8,798,000	10,960,000	1,684,000		5,082,000	9,871,000	3,996,000
benefit from impairment on equity securities
(gains) losses on assets sold and equity securities – net
(gains) losses on assets sold and equity securities - net																																																																				-1,597,000
collection of mortgage principal - net																																																																				184,000
receipts/(payments) from exercised options and taxes on restricted stock - net																																																																				-809,000
proceeds from other investments and assets held for sale - net
investments in other investments- net
proceeds from sale of interest rate cap
receipts/(payments) for exercised options - net
proceeds from preferred stock offering
interest paid during the year
net change in tax liabilities
net change in operating assets and liabilities																																																																						5,413,000	-1,811,000	4,519,000	-1,924,000	2,690,000	-7,561,000	4,433,000
receipts/(payments) from exercised options – net
deferred financing costs paid																																																																									-4,994,000	0	-165,000	-168,000
net cash from (used in) financing activities
loss on assets sold - net																																																																							133,000	248,000		-710,000	4,165,000	37,000
cash in transit from sale
receipts/(payments) from exercised options - net																																																																							0	225,000
(gain) loss on assets sold - net
receipts from dividend reinvestment plan and directors fees																																																																									4,457,000	1,683,000	658,000	149,000
payments for exercised options - net
proceeds from other investments - net																																																																										497,000	498,000	764,000
investments in other investments - net																																																																										-270,000	-5,586,000	-311,000
payment on credit facility borrowings																																																																										-33,000,000	-19,500,000	-62,000,000
receipts from exercised options																																																																										104,000	87,000	133,000
payments of exercised options																																																																										-278,000	-439,000	-591,000
cost of raising capital																																																																										0	-13,000	-28,000
payments for exercised options

Omega Healthcare Investors, Inc(NYSE:OHI)

Omega Healthcare Investors, Inc
(NYSE:OHI)