Community Healthcare Trust (CHCT) 10-Q 31 Oct 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 25, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-37401
Entity Registrant Name	Community Healthcare Trust Inc
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	46-5212033
Entity Address, Address Line One	3326 Aspen Grove Drive
Entity Address, Address Line Two	Suite 150
Entity Address, City or Town	Franklin
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37067
City Area Code	615
Local Phone Number	771-3052
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	CHCT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,264,446
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001631569
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Real estate properties
Land and land improvements	$ 135,809	$ 117,657
Buildings, improvements, and lease intangibles	908,788	825,257
Personal property	296	253
Total real estate properties	1,044,893	943,167
Less accumulated depreciation	(192,962)	(165,341)
Total real estate properties, net	851,931	777,826
Cash and cash equivalents	3,885	11,233
Restricted cash	1,048	835
Other assets, net	98,262	86,531
Total assets	955,126	876,425
Liabilities
Debt, net	401,192	352,997
Accounts payable and accrued liabilities	15,446	11,377
Other liabilities, net	16,194	15,237
Total liabilities	432,832	379,611
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.01 par value; 50,000 shares authorized; none issued and outstanding	0	0
Common stock, $0.01 par value; 450,000 shares authorized; 27,265 and 25,897 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively	273	259
Additional paid-in capital	676,716	625,136
Cumulative net income	84,289	81,142
Accumulated other comprehensive income	29,038	22,667
Cumulative dividends	(268,022)	(232,390)
Total stockholders’ equity	522,294	496,814
Total liabilities and stockholders' equity	$ 955,126	$ 876,425

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	450,000,000	450,000,000
Common stock, shares issued (in shares)	27,265,000	25,897,000
Common stock, shares outstanding (in shares)	27,265,000	25,897,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
REVENUES
Rental income		$ 27,690	$ 23,919	$ 80,582	$ 69,720
Other operating interest		1,045	888	3,139	2,617
Total revenue		28,735	24,807	83,721	72,337
EXPENSES
Property operating		5,456	4,327	15,115	12,480
General and administrative	[1]	3,618	3,762	23,610	10,688
Depreciation and amortization		11,208	8,003	29,445	24,022
Total expenses		20,282	16,092	68,170	47,190
INCOME BEFORE INCOME TAXES AND OTHER ITEMS		8,453	8,715	15,551	25,147
Impairment of real estate asset		(102)	0	(102)	0
Interest expense		(4,641)	(3,028)	(12,773)	(8,409)
Deferred income tax expense		(221)	(21)	(306)	(20)
Interest and other income		3	7	777	63
INCOME FROM CONTINUING OPERATIONS		3,492	5,673	3,147	16,781
Net income		$ 3,492	$ 5,673	$ 3,147	$ 16,781
NET INCOME PER COMMON SHARE:
Net income per common share – basic (in dollars per share)		$ 0.11	$ 0.21	$ 0.05	$ 0.62
Net income per common share – diluted (in dollars per share)		$ 0.11	$ 0.21	$ 0.05	$ 0.62
Weighted average common shares outstanding - basic (in shares)		25,514	23,587	24,940	23,578
Weighted average common shares outstanding - diluted (in shares)		25,514	23,587	24,940	23,578
[1] (1) General and administrative expenses for the nine months ended September 30, 2023 included stock-based compensation expense totaling approximately $17.9 million, including the accelerated amortization of stock-based compensation totaling approximately $11.8 million recognized upon the passing of our former CEO and President in the first quarter of 2023. General and administrative expenses for the nine months ended September 30, 2022 included stock-based compensation expense totaling approximately $6.8 million. See Note 9.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Stock-based compensation expense	$ 17,900	$ 6,800
Accelerated amortization of stock-based compensation	$ 11,799	$ 0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 3,492	$ 5,673	$ 3,147	$ 16,781
Other comprehensive income:
Increase in fair value of cash flow hedges	8,691	8,983	13,593	24,974
Reclassification for amounts recognized as interest expense	(2,738)	(276)	(7,222)	1,474
Total other comprehensive income	5,953	8,707	6,371	26,448
COMPREHENSIVE INCOME	$ 9,445	$ 14,380	$ 9,518	$ 43,229

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid in Capital	Cumulative Net Income	Accumulated Other Comprehensive Income	Cumulative Dividends
Beginning balance (in shares) at Dec. 31, 2021		0
Beginning balance at Dec. 31, 2021	$ 462,112	$ 0	$ 250	$ 595,624	$ 59,123	$ (4,980)	$ (187,905)
Balance, beginning of period (in shares) at Dec. 31, 2021	24,983,000		24,983,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs	$ (423)			(423)
Stock-based compensation, net of forfeitures (in shares)			316,000
Stock-based compensation, net of forfeitures	6,770		$ 3	6,767
Increase in fair value of cash flow hedges	24,974					24,974
Reclassification for amounts recognized as interest expense	1,474					1,474
Net income	16,781				16,781
Dividends to common stockholders	(33,202)						(33,202)
Ending balance (in shares) at Sep. 30, 2022		0
Ending balance at Sep. 30, 2022	478,486	$ 0	$ 253	601,968	75,904	21,468	(221,107)
Balance, end of period (in shares) at Sep. 30, 2022			25,299,000
Beginning balance (in shares) at Dec. 31, 2021		0
Beginning balance at Dec. 31, 2021	$ 462,112	$ 0	$ 250	595,624	59,123	(4,980)	(187,905)
Balance, beginning of period (in shares) at Dec. 31, 2021	24,983,000		24,983,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs (in shares)	600,000
Ending balance (in shares) at Dec. 31, 2022	0	0
Ending balance at Dec. 31, 2022	$ 496,814	$ 0	$ 259	625,136	81,142	22,667	(232,390)
Balance, end of period (in shares) at Dec. 31, 2022	25,897,000		25,897,000
Beginning balance (in shares) at Jun. 30, 2022		0
Beginning balance at Jun. 30, 2022	$ 472,962	$ 0	$ 251	599,631	70,231	12,761	(209,912)
Balance, beginning of period (in shares) at Jun. 30, 2022			25,099,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs	(125)			(125)
Stock-based compensation, net of forfeitures (in shares)			200,000
Stock-based compensation, net of forfeitures	2,464		$ 2	2,462
Increase in fair value of cash flow hedges	8,983					8,983
Reclassification for amounts recognized as interest expense	(276)					(276)
Net income	5,673				5,673
Dividends to common stockholders	(11,195)						(11,195)
Ending balance (in shares) at Sep. 30, 2022		0
Ending balance at Sep. 30, 2022	$ 478,486	$ 0	$ 253	601,968	75,904	21,468	(221,107)
Balance, end of period (in shares) at Sep. 30, 2022			25,299,000
Beginning balance (in shares) at Dec. 31, 2022	0	0
Beginning balance at Dec. 31, 2022	$ 496,814	$ 0	$ 259	625,136	81,142	22,667	(232,390)
Balance, beginning of period (in shares) at Dec. 31, 2022	25,897,000		25,897,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs (in shares)	1,037,000		1,037,000
Issuance of common stock, net of issuance costs	$ 34,621		$ 11	34,610
Stock-based compensation, net of forfeitures (in shares)			331,000
Stock-based compensation, net of forfeitures	17,936		$ 3	17,933
Shares withheld on vesting of stock-based compensation	(963)			(963)
Increase in fair value of cash flow hedges	13,593					13,593
Reclassification for amounts recognized as interest expense	(7,222)					(7,222)
Net income	3,147				3,147
Dividends to common stockholders	$ (35,632)						(35,632)
Ending balance (in shares) at Sep. 30, 2023	0	0
Ending balance at Sep. 30, 2023	$ 522,294	$ 0	$ 273	676,716	84,289	29,038	(268,022)
Balance, end of period (in shares) at Sep. 30, 2023	27,265,000		27,265,000
Beginning balance (in shares) at Jun. 30, 2023		0
Beginning balance at Jun. 30, 2023	$ 505,325	$ 0	$ 265	657,057	80,797	23,085	(255,879)
Balance, beginning of period (in shares) at Jun. 30, 2023			26,541,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs (in shares)			552,000
Issuance of common stock, net of issuance costs	17,769		$ 6	17,763
Stock-based compensation, net of forfeitures (in shares)			172,000
Stock-based compensation, net of forfeitures	1,898		$ 2	1,896
Increase in fair value of cash flow hedges	8,691					8,691
Reclassification for amounts recognized as interest expense	(2,738)					(2,738)
Net income	3,492				3,492
Dividends to common stockholders	$ (12,143)						(12,143)
Ending balance (in shares) at Sep. 30, 2023	0	0
Ending balance at Sep. 30, 2023	$ 522,294	$ 0	$ 273	$ 676,716	$ 84,289	$ 29,038	$ (268,022)
Balance, end of period (in shares) at Sep. 30, 2023	27,265,000		27,265,000

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends to common stockholders, per share (in dollars per share)	$ 0.4525	$ 0.4425	$ 1.3500	$ 1.3200

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
OPERATING ACTIVITIES
Net income	$ 3,147	$ 16,781
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	29,445	24,022
Other amortization	558	627
Stock-based compensation	6,137	6,770
Accelerated amortization of stock-based compensation	11,799	0
Straight-line rent receivable	(2,180)	(2,590)
Net gain from insurance recovery on casualty loss	(706)	0
Impairment of real estate asset	102	0
Deferred income tax expense	306	20
Changes in operating assets and liabilities:
Other assets	(3,082)	(1,367)
Accounts payable and accrued liabilities	3,337	994
Other liabilities	(1,772)	(387)
Net cash provided by operating activities	47,091	44,870
INVESTING ACTIVITIES
Acquisitions of real estate	(91,993)	(45,970)
Funding of notes receivable	(1,985)	(5,500)
Proceeds from the repayment of notes receivable	3,045	2,250
Insurance proceeds from casualty loss	2,273	0
Capital expenditures on existing real estate properties	(11,461)	(6,698)
Net cash used in investing activities	(100,121)	(55,918)
FINANCING ACTIVITIES
Net borrowings on revolving credit facility	48,000	45,000
Mortgage note repayments	(94)	(98)
Dividends paid	(35,632)	(33,202)
Proceeds from issuance of common stock	34,766	0
Taxes paid on behalf of employees and shares withheld upon shares vesting	(963)	0
Equity issuance costs	(182)	(181)
Net cash provided by financing activities	45,895	11,519
(Decrease) increase in cash and cash equivalents and restricted cash	(7,135)	471
Cash and cash equivalents and restricted cash, beginning of period	12,068	2,867
Cash and cash equivalents and restricted cash, end of period	4,933	3,338
Supplemental Cash Flow Information:
Interest paid (net of capitalized interest)	9,868	7,525
Invoices accrued for construction, tenant improvement and other capitalized costs	4,922	1,588
Reclassification of registration statement costs incurred in prior years to equity issuance costs	145	344
Leasing commission accrued	449	0
Increase in fair value of cash flow hedges	13,593	24,974
Income taxes paid	90	65
Capitalized interest	$ 514	$ 504

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Overview Community Healthcare Trust Incorporated (the ‘‘Company’’, ‘‘we’’, ‘‘our’’) was organized in the State of Maryland on March 28, 2014. The Company is a fully-integrated healthcare real estate company that owns and acquires real estate properties that are leased to hospitals, doctors, healthcare systems or other healthcare service providers. As of September 30, 2023, the Company had investments of approximately $1.05 billion in 191 real estate properties (including a portion of one property accounted for as a sales-type lease with a gross amount totaling approximately $3.0 million and one property classified as an asset held for sale with a gross amount totaling approximately $1.1 million (see Note 10 – Other Assets, net and Note 4 – Real Estate Acquisitions and Dispositions, respectively)). The properties are located in 34 states, totaling approximately 4.2 million square feet in the aggregate and were approximately 91.0% leased at September 30, 2023 with a weighted average remaining lease term of approximately 7.1 years. Any references to square footage, property count, or occupancy percentages, and any amounts derived from these values in these notes to the Condensed Consolidated Financial Statements, are outside the scope of our independent registered public accounting firm's review. Basis of Presentation The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements. This interim financial information should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Management believes that all adjustments of a normal, recurring nature considered necessary for a fair presentation have been included. This interim financial information does not necessarily represent or indicate what the operating results will be for the year ending December 31, 2023. All intercompany accounts and transactions have been eliminated. Use of Estimates in the Condensed Consolidated Financial Statements Preparation of the Condensed Consolidated Financial Statements in accordance with GAAP requires management to make estimates and assumptions that affect amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Actual results may materially differ from those estimates. Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents includes short-term investments with original maturities of three months or less when purchased. Restricted cash consists of amounts held by the lender of our mortgage note payable to provide for future real estate tax, insurance expenditures and tenant improvements related to one property. The carrying amounts approximate fair value due to the short term maturity of these investments. The following table provides a reconciliation of cash and cash equivalents and restricted cash: Balance as of September 30, (Dollars in thousands) 2023 2022 Cash and cash equivalents $ 3,885 $ 2,656 Restricted cash 1,048 682 Cash, cash equivalents and restricted cash $ 4,933 $ 3,338 Income Taxes The Company has elected to be taxed as a real estate investment trust ("REIT"), as defined under the Internal Revenue Code of 1986, as amended (the "Code"). The Company and two subsidiaries have also elected for those

Real Estate Properties

Real Estate Properties	9 Months Ended
	Sep. 30, 2023
Real Estate [Abstract]
Real Estate Properties	REAL ESTATE PROPERTIES As of September 30, 2023, we had investments of approximately $1.05 billion in 191 real estate properties (including a portion of one property accounted for as a sales-type lease with a gross amount totaling approximately $3.0 million and one property classified as held for sale with a gross amount totaling approximately $1.1 million). The Company's investments are diversified by property type, geographic location, and tenant as shown in the following tables: Property Type # of Properties Gross Investment Medical Office Building 91 $ 424,174 Inpatient Rehabilitation Hospitals 8 174,772 Acute Inpatient Behavioral 5 130,472 Specialty Centers 37 120,095 Physician Clinics 30 86,735 Surgical Centers and Hospitals 10 52,823 Behavioral Specialty Facilities 9 45,017 Long-term Acute Care Hospitals 1 14,937 Total 191 $ 1,049,025 State # of Properties Gross Investment Texas 17 $ 162,455 Illinois 16 122,384 Ohio 26 113,086 Florida 25 109,846 Pennsylvania 15 57,568 All Others 92 483,686 Total 191 $ 1,049,025 Primary Tenant # of Properties Gross Investment Lifepoint Health (1) 6 $ 105,888 US HealthVest 3 77,964 All Others 182 865,173 Total 191 $ 1,049,025 ____________ (1) During the first quarter of 2023, Everest Rehabilitation assigned leases on four properties to Lifepoint Health in which the Company had a gross investment totaling $80.7 million at September 30, 2023. GenesisCare Bankruptcy On June 1, 2023, GenesisCare and certain of its affiliates ("GenesisCare") filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. During the second quarter of 2023, the U.S. Bankruptcy Court for the Southern District of Texas approved GenesisCare’s request to reject a lease of approximately 11,000 square feet with CHCT North Carolina, LLC, a subsidiary of the Company and during the third quarter of 2023, GenesisCare's request to reject an additional unexpired real property lease of approximately 46,000 square feet with CHCT Florida, LLC, a subsidiary of the Company, was approved. At September 30, 2023, GenesisCare was the sole tenant in five of our properties and a tenant in two of our multi-tenanted properties, representing approximately 1.9% of our gross real estate properties, or approximately 62,000 square feet. Other than the two rejected leases noted above, GenesisCare has met substantially all of its lease payment obligations due to the Company through October 2023. The Company has engaged counsel to monitor the GenesisCare bankruptcy progress and any additional potential impacts to the Company.

Real Estate Leases

Real Estate Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Real Estate Leases	REAL ESTATE LEASES Lessor Accounting The Company’s properties are generally leased pursuant to non-cancelable, fixed-term operating leases with expiration dates through 2039. The Company’s leases generally require the lessee to pay minimum rent, with fixed rent renewal terms or increases based on a Consumer Price Index and may also include additional rent, which may include the reimbursement of taxes (including property taxes), insurance, maintenance and other operating costs associated with the leased property. Some leases provide the lessee, during the term of the lease, with an option or right of first refusal to purchase the leased property. Some leases also allow the lessee to renew or extend their lease term or in some cases terminate their lease, based on conditions provided in the lease. Future minimum lease payments under the non-cancelable operating leases due to the Company for the years ending December 31, as of September 30, 2023, are as follows (in thousands): 2023 (three months ended December 31) $ 24,203 2024 93,601 2025 85,888 2026 76,764 2027 69,814 2028 and thereafter 404,637 $ 754,907 Rental income is recognized as earned over the life of the lease agreement on a straight-line basis when collection of rental payments over the term of the lease is probable. Straight-line rent included in rental income was approximately $0.4 million and $0.9 million, respectively, for the three months ended September 30, 2023 and 2022, and was approximately $2.2 million and $2.6 million, respectively, for the nine months ended September 30, 2023 and 2022. Purchase Option Provisions Certain of the Company's leases provide the lessee with a purchase option or a right of first refusal to purchase the leased property. The purchase option provisions generally allow the lessee to purchase the leased property at fair value or at an amount greater than the Company's gross investment in the leased property at the time of the purchase. At September 30, 2023, the Company had an aggregate gross investment of approximately $40.4 million in 11 real estate properties with purchase options exercisable at September 30, 2023 that had not been exercised. Sales-type Lease The Company has a portion of one property accounted for as a sales-type lease with a gross amount totaling approximately $3.0 million included in other assets, net on the Company's Condensed Consolidated Balance Sheets. Future lease payments due to the Company under this lease for the years ending December 31, as of September 30, 2023, are as follows (in thousands): 2023 (three months ended December 31) $ 85 2024 346 2025 356 2026 367 2027 378 2028 and thereafter 5,210 Total undiscounted lease receivable 6,742 Discount (3,710) Lease receivable $ 3,032 The Company recognized interest income of approximately $0.1 million during each of the three months ended September 30, 2023 and 2022 and approximately $0.2 million during each of the nine months ended September 30, 2023 and 2022 related to this lease which is included in other operating interest on the Company's Condensed Consolidated Statements of Income. Lessee Accounting At September 30, 2023, the Company was obligated, as the lessee, under four non-prepaid ground leases accounted for as operating leases with expiration dates, including renewal options, through 2076, and two non-prepaid ground leases accounted for as financing leases with expiration dates through 2109, including renewal options. Any rental increases related to the Company's ground leases are generally either stated or based on the Consumer Price Index. The Company's future lease payments under these non-prepaid ground leases were as follows (in thousands): Operating Financing 2023 (three months ended December 31) $ 11 $ 35 2024 43 154 2025 44 154 2026 44 154 2027 45 154 2028 and thereafter 1,148 6,956 Total undiscounted lease payments 1,335 7,607 Discount (558) (4,330) Lease liabilities $ 777 $ 3,277 The following table discloses other information regarding the ground leases. Three Months Ended 2023 2022 Operating leases: Weighted-average remaining lease term in years (including renewal options) 35.4 36.1 Weighted-average discount rate 4.0 % 4.0 % Financing leases: Weighted-average remaining lease term in years (including renewal options) 40.1 41.0 Weighted-average discount rate 4.3 % 4.2 %

Real Estate Acquisitions And Di

Real Estate Acquisitions And Dispositions	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Real Estate Acquisitions and Dispositions	REAL ESTATE ACQUISITIONS AND DISPOSITIONS Acquisitions During the third quarter of 2023, the Company acquired seven real estate properties. Upon acquisition, the properties were 99.8% leased in the aggregate with lease expirations through 2038. Amounts reflected in revenues and net income for these properties for the three months ended September 30, 2023 were approximately $0.8 million and $0.4 million, respectively, and transaction costs totaling approximately $0.7 million were capitalized relating to these property acquisitions. During the second quarter of 2023, the Company acquired three real estate properties and one land parcel. Upon acquisition, the properties were 98.3% leased in the aggregate with lease expirations through 2033. Amounts reflected in revenues and net income for these properties for the nine months ended September 30, 2023 were approximately $0.6 million and $0.1 million, respectively, and transaction costs totaling approximately $0.4 million were capitalized relating to these property acquisitions. During the first quarter of 2023, the Company acquired seven real estate properties. Upon acquisition, the properties were 100.0% leased in the aggregate with lease expirations through 2031. Amounts reflected in revenues and net income for these properties for the nine months ended September 30, 2023 were approximately $2.2 million and $0.5 million, respectively, and transaction costs totaling approximately $0.4 million were capitalized relating to these property acquisitions. The following table summarizes our property acquisitions for the nine months ended September 30, 2023: Location Property Type (1) Date Purchase Cash Real Estate Other (2) Square Footage (000's) (000's) (000's) (000's) LaGrange, GA MOB 01/18/23 $ 8,007 $ 8,087 $ 8,118 $ (31) 55,310 West Point, GA MOB 01/18/23 811 819 822 (3) 5,600 Canton, OH MOB 01/30/23 3,669 3,706 4,287 (581) 27,920 Scranton, PA MOB 02/23/23 1,957 2,165 2,317 (152) 22,743 Scranton, PA MOB 02/23/23 2,207 2,366 2,340 26 15,768 LaGrange, GA MOB 03/06/23 6,469 6,458 6,622 (164) 31,473 LaGrange, GA MOB 03/06/23 249 294 300 (6) 2,972 Lakeland, FL Land 04/03/23 838 845 846 (1) — Hermitage, PA MOB 05/04/23 4,218 4,382 4,529 (147) 25,982 San Antonio, TX MOB 05/22/23 2,772 2,783 3,031 (248) 12,376 Clinton, MD MOB 06/21/23 7,850 7,807 7,867 (60) 37,344 Ft. Myers, FL MOB 07/28/23 10,646 10,739 10,952 (213) 43,322 Ft. Myers, FL MOB 07/28/23 582 588 497 91 3,200 Immokalee, FL MOB 07/28/23 847 863 881 (18) 6,757 El Paso, TX IRF 07/31/23 23,500 23,538 23,538 — 37,992 Beaver, PA MOB 08/24/23 3,330 3,496 3,581 (85) 15,878 Westlake, OH MOB 08/25/23 2,425 2,444 2,535 (91) 14,100 Newcastle, PA MOB 09/15/23 10,375 10,613 11,239 (626) 56,003 $ 90,752 $ 91,993 $ 94,302 $ (2,309) 414,740 (1) MOB - Medical Office Building; IRF - Inpatient Rehabilitation Facility (2) Includes other assets acquired, liabilities assumed, and above and below-market intangibles recognized at acquisition. The following table summarizes the relative fair values of the assets acquired and liabilities assumed in the property acquisitions for the nine months ended September 30, 2023: Relative Estimated (in thousands) (in years) Land and land improvements $ 17,836 8.7 Building and building improvements 65,765 30.8 Intangibles: At-market lease intangibles 10,701 4.5 Above-market lease intangibles 976 5.1 Below-market lease intangibles (2,940) 5.4 Total intangibles 8,737 Accounts payable, accrued liabilities and other liabilities assumed (399) Accounts receivable and other assets acquired 303 Prorated rent, interest and operating expense reimbursement amounts collected (249) Total cash consideration $ 91,993 Asset Held for Sale The Company incurred property damage due to vandalism at a property in Houston, Texas which was covered by our insurance policies. The Company estimated the fair value of the damaged property and recorded a casualty loss, for the difference between the estimated fair value less costs to sell and the insurance proceeds received. The Company determined that the estimated amount of the casualty loss was approximately $1.6 million and received insurance proceeds totaling $2.3 million in the second quarter of 2023, resulting in a net casualty gain of approximately $0.7 million which was included in Interest and other income on the Condensed Consolidated Statements of Income. At June 30, 2023, the Company committed to a plan to dispose of the property in Houston, Texas and classified the property as an asset held for sale. The Company recorded an impairment on the asset held for sale of approximately $0.1 million in the third quarter of 2023. See also Note 10 – Other Assets, net and Note 11 – Other Liabilities, net.

Debt, net

Debt, net	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt, net	DEBT, NET The table below details the Company's debt as of September 30, 2023 and December 31, 2022. Balance as of (Dollars in thousands) September 30, 2023 December 31, 2022 Maturity Dates Credit Facility: Revolving Credit Facility $ 48,000 $ — 3/26 A-3 Term Loan, net 74,700 74,609 3/26 A-4 Term Loan, net 124,494 124,409 3/28 A-5 Term Loan, net 149,157 149,059 3/30 Mortgage Note Payable, net 4,841 4,920 5/24 $ 401,192 $ 352,997 On December 14, 2022, Community Healthcare Trust Incorporated, as borrower, entered into a first amendment (the "First Amendment") to the third amended and restated credit agreement (the "Credit Facility") by and among Community Healthcare Trust Incorporated, as borrower, the several banks and financial institutions party thereto as lenders, and Truist Bank, as administrative agent. The First Amendment amended the Credit Facility to, among other things, (i) establish a new seven-year and three-month term loan facility in the aggregate principal amount of $150.0 million (the "A-5 Term Loan"), which matures on March 14, 2030 and (ii) replace LIBOR as a benchmark interest rate for loans under the Credit Facility with SOFR. The proceeds from the A-5 Term Loan were used in part to repay the seven-year term loan facility in the aggregate principal amount of $50.0 million (the "A-2 Term Loan") which was set to mature on March 29, 2024. The Credit Facility allows the Company to borrow, through the accordion feature, up to $700.0 million, including the ability to add and fund incremental term loans. The Company's material subsidiaries are guarantors of the obligations under the Credit Facility. The Credit Facility provides for a $150.0 million Revolving Credit Facility and $350.0 million in term loans (the "Term Loans"). The Revolving Credit Facility matures on March 19, 2026 and includes one 12-month option to extend the maturity date, subject to the satisfaction of certain conditions. The Term Loans include a seven-year term loan facility in the aggregate principal amount of $75.0 million (the "A-3 Term Loan"), which matures on March 29, 2026, a seven-year term loan facility in the aggregate principal amount of $125.0 million (the "A-4 Term Loan"), which matures on March 19, 2028, and the A-5 Term Loan, which matures on March 14, 2030. Under the First Amendment, amounts outstanding under the Revolving Credit Facility will bear interest at a floating rate based on the Company's option, on either: (i) adjusted term SOFR or adjusted daily simple SOFR plus 1.25% to 1.90% or (ii) a base rate plus 0.25% to 0.90% in each case, depending upon the Company’s leverage ratio. In addition, the Company is obligated to pay an annual fee equal to 0.20% of the amount of the unused portion of the Revolving Credit Facility if amounts borrowed are greater than 33.3% of the borrowing capacity under the Revolving Credit Facility and 0.25% of the unused portion of the Revolving Credit Facility if amounts borrowed are less than or equal to 33.3% of the borrowing capacity under the Revolving Credit Facility. The Company had $48.0 million outstanding under the Revolving Credit Facility with a weighted average interest rate of 7.05% and a borrowing capacity remaining of $102.0 million at September 30, 2023. Under the First Amendment, amounts outstanding under the Term Loans will bear interest at a floating rate that is based, at the Company's option, on either (i) adjusted term SOFR or adjusted daily SOFR plus 1.45% to 2.30% or (ii) a base rate plus 0.45% to 1.30%, in each case, depending upon the Company’s leverage ratio. The Company has entered into interest rate swaps to fix the interest rates on the Term Loans. See Note 6 – Derivative Financial Instruments for more details on the interest rate swaps. At September 30, 2023, the Company had $350.0 million outstanding under the Term Loans which had a fixed weighted average interest rate under the swaps of approximate ly 4.3% . The Company’s ability to borrow under the Credit Facility is subject to its ongoing compliance with a number of customary affirmative and negative covenants, including limitations with respect to liens, indebtedness, distributions, mergers, consolidations, investments, restricted payments and asset sales, as well as financial maintenance covenants. The Company was in compliance with its financial covenants under its Credit Facility as of September 30, 2023. Mortgage Note Payable

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	DERIVATIVE FINANCIAL INSTRUMENTS Risk Management Objective of Using Derivatives The Company may use derivative financial instruments, including interest rate swaps, caps, options, floors and other interest rate derivative contracts, to hedge all or a portion of the interest rate risk associated with its borrowings. The principal objective of such arrangements is to minimize the risks and/or costs associated with the Company’s operating and financial structure as well as to hedge specific anticipated transactions. The Company does not intend to utilize derivatives for speculative or other purposes other than interest rate risk management. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company only enters into derivative financial instruments with counterparties with high credit ratings and with major financial institutions with which the Company and its affiliates may also have other financial relationships. The Company does not anticipate that any of the counterparties will fail to meet their obligations. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. As of September 30, 2023, the Company had seventeen outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk for notional amounts totaling $350.0 million, including two forward-starting interest rate swaps for notional amounts totaling $50.0 million, which will not become effective until March 29, 2024. Tabular Disclosure of Fair Value of Derivative Instruments on the Balance Sheet The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Condensed Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022. Asset Derivatives Fair Value at Liability Derivatives Fair Value at (Dollars in thousands) September 30, 2023 December 31, 2022 Balance Sheet Classification September 30, 2023 December 31, 2022 Balance Sheet Classification Interest rate swaps $ 29,038 $ 22,667 Other assets, net $ — $ — Other liabilities, net The changes in the fair value of derivatives designated and that qualify as cash flow hedges are recorded in accumulated other comprehensive income ("AOCI") and are subsequently reclassified to interest expense in the period that the hedged forecasted transaction affects earnings. Amounts reported in AOCI related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s Term Loans. During the next twelve months, the Company estimates that an additional $10.7 million will be reclassified from AOCI as a decrease to interest expense. Tabular Disclosure of the Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three and nine months ended September 30, 2023 and 2022. Three Months Ended Nine Months Ended (Dollars in thousands) 2023 2022 2023 2022 Amount of unrealized gain recognized in OCI on derivatives $ 8,691 $ 8,983 $ 13,593 $ 24,974 Amount of (gain) loss reclassified from AOCI into interest expense $ (2,738) $ (276) $ (7,222) $ 1,474 Total interest expense presented in the Condensed Consolidated Statements of Income in which the effects of the cash flow hedges are recorded $ 4,641 $ 3,028 $ 12,773 $ 8,409 Tabular Disclosures of Offsetting Derivatives The tables below present a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of September 30, 2023 and December 31, 2022. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the Condensed Consolidated Balance Sheets. Offsetting of Derivative Assets (as of September 30, 2023) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Assets in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ 29,038 $ — $ 29,038 $ — $ — $ 29,038 Offsetting of Derivative Liabilities (as of September 30, 2023) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ — $ — $ — $ — $ — $ — Offsetting of Derivative Assets (as of December 31, 2022) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Assets in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ 22,667 $ — $ 22,667 $ — $ — $ 22,667 Offsetting of Derivative Liabilities (as of December 31, 2022) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ — $ — $ — $ — $ — $ — Credit-risk-related Contingent Features As of September 30, 2023, the Company did not have any derivatives in a net liability position. As of September 30, 2023, the Company had not posted any collateral related to these agreements and was not in breach of any agreement provisions. If the Company terminated these interest rate swaps or breached any of these provisions, it could have been required to settle its obligations under the agreements at their aggregate termination value.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Stockholders' Equity	STOCKHOLDERS' EQUITY Common Stock The following table provides a reconciliation of the beginning and ending common stock balances for the nine months ended September 30, 2023 and for the year ended December 31, 2022: (In thousands) Nine Months Ended Year Ended Balance, beginning of period 25,897 24,983 Issuance of common stock 1,037 600 Restricted stock issued 361 318 Restricted stock withheld and forfeited (30) (4) Balance, end of period 27,265 25,897 ATM Program The Company has an at-the-market offering program ("ATM Program"), with Piper Sandler & Co., Evercore Group L.L.C., Truist Securities, Inc., Regions Securities LLC, Robert W. Baird & Co. Incorporated, Fifth Third Securities, Inc. and Janney Montgomery Scott LLC, as sales agents (collectively, the “Agents”). Under the ATM Program, the Company may issue and sell shares of its common stock, having an aggregate gross sales price of up to $500.0 million. The shares of common stock may be sold from time to time through or to one or more of the Agents, as may be determined by the Company in its sole discretion, subject to the terms and conditions of the agreement and applicable law. The Company's activity under the ATM Program during the nine months ended September 30, 2023 is detailed in the table below. As of September 30, 2023, the Company had approximately $443.6 million remaining that may be issued under the ATM Program. Three Months Ended Nine Months Ended Shares issued ( in thousands ) 552 1,037 Net proceeds received ( in millions) $17.8 $34.8 Average gross sales price per share $32.93 $34.18

Net Income Per Common Share

Net Income Per Common Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Income Per Common Share	NET INCOME PER COMMON SHARE The following table sets forth the computation of basic and diluted net income per common share for the three and nine months ended September 30, 2023 and 2022, respectively. Three Months Ended Nine Months Ended (In thousands, except per share data) 2023 2022 2023 2022 Net income $ 3,492 $ 5,673 $ 3,147 $ 16,781 Participating securities' share in earnings (622) (759) (1,995) (2,086) Net income, less participating securities' share in earnings $ 2,870 $ 4,914 $ 1,152 $ 14,695 Weighted average Common Shares outstanding Weighted average Common Shares outstanding 26,823 25,221 26,411 25,123 Unvested restricted shares (1,309) (1,634) (1,471) (1,545) Weighted average Common Shares outstanding–Basic 25,514 23,587 24,940 23,578 Dilutive potential common shares — — — — Weighted average Common Shares outstanding –Diluted 25,514 23,587 24,940 23,578 Basic Net Income per Common Share $ 0.11 $ 0.21 $ 0.05 $ 0.62 Diluted Net Income per Common Share $ 0.11 $ 0.21 $ 0.05 $ 0.62

Stock Incentive Plan

Stock Incentive Plan	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock Incentive Plan	STOCK INCENTIVE PLAN A summary of the activity under the Company's 2014 Incentive Plan, as amended, for the three and nine months ended September 30, 2023 and 2022 is included in the table below, as well as compensation expense recognized from the amortization of the value of shares over the applicable vesting periods. Three Months Ended Nine Months Ended (Dollars and shares in thousands) 2023 2022 2023 2022 Stock-based awards, beginning of period 1,203 1,512 1,708 1,416 Stock in lieu of compensation 57 64 141 116 Stock awards 114 136 220 203 Total stock granted 171 200 361 319 Vested shares (1) — — (692) (22) Forfeited shares — — (3) (1) Stock-based awards, end of period 1,374 1,712 1,374 1,712 Amortization expense (1) $ 1,898 $ 2,464 $ 17,936 $ 6,770 ___________ (1) Amortization expense for the nine months ended September 30, 2023 included accelerated amortization totaling approximately $11.8 million and vesting of 624,725 shares upon the passing of our former CEO and President. Accelerated Amortization and Vesting of Restricted Stock The Company's former CEO and President, Timothy Wallace, passed away in March 2023. At the time of his passing, Mr. Wallace had 624,725 shares of restricted stock that had not been fully amortized. In accordance with the terms of his employment agreement, the Company accelerated the unamortized remaining balance of deferred compensation related to his unvested shares and recognized an additional $11.8 million of amortization expense in the first quarter of 2023.

Other Assets, net

Other Assets, net	9 Months Ended
	Sep. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets, net	OTHER ASSETS, NET Other assets, net on the Company's Condensed Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022 are detailed in the table below. Balance as of (Dollars in thousands) September 30, 2023 December 31, 2022 Notes receivable $ 31,645 $ 32,705 Accounts and interest receivable, net 4,053 2,679 Straight-line rent receivable 17,899 15,429 Prepaid assets 1,802 980 Deferred financing costs, net 524 683 Leasing commissions, net 2,409 1,848 Deferred tax assets, net — 306 Fair value of interest rate swaps 29,038 22,667 Above-market lease intangible assets, net 2,853 2,399 Sales-type lease receivable 3,032 3,035 Financing right-of-use asset 2,501 2,545 Assets held for sale 1,116 — Operating lease right-of-use assets 735 759 Other 655 496 $ 98,262 $ 86,531 The Company's notes receivable mainly included: • At September 30, 2023 and December 31, 2022, notes receivable included a $6.8 million and $9.0 million, respectively, term loan, secured by all assets and ownership interests in seven long-term acute care hospitals and one inpatient rehabilitation hospital owned by the borrower. The term loan will be repaid in equal monthly installments of $250,000 through the maturity date of December 31, 2025 and bears interest at 9% per annum. • At September 30, 2023 and December 31, 2022 , notes receivable included a term loan totaling $17.0 million and a revolving credit facility totaling $5.4 million and $5.0 million, respectively, secured by assets and ownership interests of six geriatric behavioral hospitals and affiliated companies all of which are co-borrowers on the loans. The term loan bears interest at 9% per annum, with interest only payments due initially and then equal monthly installments of principal payments due beginning March 3 1, 2024 . The term loan facility matures on Decem ber 31, 2032 . The revolving credit facility bears interest at 9% per annum and matures on December 31, 2025 . In addition, the Company has committed to fund, at the Company’s discretion, additional amounts, up to $5.0 million with interest at 9% per annum on any amount funded, that may be used by the borrower to pay existing liabilities of co-borrowers. The term loan, the revolving credit facility and the additional commitment all include a 3% per annum non-cash interest charge that is due and payable upon the earlier of the repayment or maturity of each note. • At September 30, 2023 and December 31, 2022, notes receivable included a $2.5 million and $1.7 million, respectively, revolving credit facility. Commencing on October 1, 2023, the revolving credit facility will be repaid in equal monthly installments of $40,000 through the maturity date of April 1, 2027. The revolving credit facility bears interest at 9% per annum, as well as a 3% per annum non-cash interest charge that is due and payable upon the earlier of the repayment or maturity of the note. The Company identified the borrowers of these notes as variable interest entities ("VIEs"), but management determined that the Company was not the primary beneficiary of the VIEs because we lack either directly or through related parties any material decision-making rights or control of the entities that impact the borrowers' economic performance. We are not obligated to provide support beyond our stated commitment to the borrowers, and accordingly our maximum exposure to loss as a result of this relationship is limited to the amount of our outstanding notes receivable. The VIEs that we have identified at September 30, 2023 are summarized in the table below. Classification Carrying Amount (in thousands) Maximum Exposure to Loss (in thousands) Note receivable (term loan) $ 6,750 $ 6,750 Note receivable (revolving credit facility) $ 5,435 $ 5,435 Note receivable (term loan) $ 17,000 $ 17,000 Note receivable (revolving credit facility) $ 2,460 $ 2,460

Other Liabilities, net

Other Liabilities, net	9 Months Ended
	Sep. 30, 2023
Other Liabilities Disclosure [Abstract]
Other Liabilities, net	OTHER LIABILITIES, NET Other liabilities, net on the Company's Condensed Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022 are detailed in the table below. Balance as of (Dollars in thousands) September 30, 2023 December 31, 2022 Prepaid rent $ 4,699 $ 3,853 Security deposits 3,676 5,766 Below-market lease intangibles, net 3,261 1,075 Financing lease liability 3,277 3,279 Operating lease liability 777 786 Liabilities held for sale 48 — Other 456 478 $ 16,194 $ 15,237

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practical to estimate the fair value. Cash and cash equivalents and restricted cash - The carrying amount approximates the fair value. The fair value estimates were determined using level 1 inputs. Notes receivable - The fair value is estimated using cash flow analyses, based on an assumed market rate of interest or at a rate consistent with the rates on notes carried by the Company and are classified as level 2 inputs in the hierarchy. Borrowings under our Credit Facility - The carrying amount approximates the fair value because the borrowings are based on variable market interest rates. The fair value estimates were determined using level 2 inputs. Derivative financial instruments (Interest rate swaps) - The fair value is estimated using discounted cash flow techniques. These techniques incorporate primarily level 2 inputs. The market inputs are utilized in the discounted cash flow calculation considering the instrument’s term, notional amount, discount rate and credit risk. Significant inputs to the derivative valuation model for interest rate swaps are observable in active markets and are classified as level 2 inputs in the hierarchy. Mortgage note payable - The fair value is estimated using cash flow analyses which are based on an assumed market rate of interest or at a rate consistent with the rates on mortgage notes assumed by the Company and are classified as level 2 inputs in the hierarchy. The table below details the fair values and carrying values for our notes receivable, interest rate swaps, and mortgage note payable at September 30, 2023 and December 31, 2022, using level 2 inputs. September 30, 2023 December 31, 2022 (Dollars in thousands) Carrying Value Fair Value Carrying Value Fair Value Notes receivable $ 31,645 $ 31,321 $ 32,705 $ 32,716 Interest rate swap asset $ 29,038 $ 29,038 $ 22,667 $ 22,667 Mortgage note payable (principal amount) $ 4,853 $ 4,731 $ 4,947 $ 4,761

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Dividend Declared On October 26, 2023, the Company’s Board of Directors declared a quarterly common stock dividend in the amount of $0.455 per share. The dividend is payable on November 24, 2023 to stockholders of record on November 9, 2023. Subsequent Acquisitions

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income	$ 3,492	$ 5,673	$ 3,147	$ 16,781

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements. This interim financial information should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Management believes that all adjustments of a normal, recurring nature considered necessary for a fair presentation have been included. This interim financial information does not necessarily represent or indicate what the operating results will be for the year ending December 31, 2023. All intercompany accounts and transactions have been eliminated.
Use of Estimates in the Condensed Consolidated Financial Statements	Use of Estimates in the Condensed Consolidated Financial Statements Preparation of the Condensed Consolidated Financial Statements in accordance with GAAP requires management to make estimates and assumptions that affect amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Actual results may materially differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents and Restricted CashCash and cash equivalents includes short-term investments with original maturities of three months or less when purchased.
Restricted Cash	Restricted cash consists of amounts held by the lender of our mortgage note payable to provide for future real estate tax, insurance expenditures and tenant improvements related to one property. The carrying amounts approximate fair value due to the short term maturity of these investments.
Income Taxes	Income Taxes The Company has elected to be taxed as a real estate investment trust ("REIT"), as defined under the Internal Revenue Code of 1986, as amended (the "Code"). The Company and two subsidiaries have also elected for those

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash: Balance as of September 30, (Dollars in thousands) 2023 2022 Cash and cash equivalents $ 3,885 $ 2,656 Restricted cash 1,048 682 Cash, cash equivalents and restricted cash $ 4,933 $ 3,338
Restrictions on Cash and Cash Equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash: Balance as of September 30, (Dollars in thousands) 2023 2022 Cash and cash equivalents $ 3,885 $ 2,656 Restricted cash 1,048 682 Cash, cash equivalents and restricted cash $ 4,933 $ 3,338

Real Estate Properties (Tables)

Real Estate Properties (Tables)	9 Months Ended
	Sep. 30, 2023
Real Estate [Abstract]
Schedule of Real Estate Property Investments	The Company's investments are diversified by property type, geographic location, and tenant as shown in the following tables: Property Type # of Properties Gross Investment Medical Office Building 91 $ 424,174 Inpatient Rehabilitation Hospitals 8 174,772 Acute Inpatient Behavioral 5 130,472 Specialty Centers 37 120,095 Physician Clinics 30 86,735 Surgical Centers and Hospitals 10 52,823 Behavioral Specialty Facilities 9 45,017 Long-term Acute Care Hospitals 1 14,937 Total 191 $ 1,049,025 State # of Properties Gross Investment Texas 17 $ 162,455 Illinois 16 122,384 Ohio 26 113,086 Florida 25 109,846 Pennsylvania 15 57,568 All Others 92 483,686 Total 191 $ 1,049,025 Primary Tenant # of Properties Gross Investment Lifepoint Health (1) 6 $ 105,888 US HealthVest 3 77,964 All Others 182 865,173 Total 191 $ 1,049,025 ____________ (1) During the first quarter of 2023, Everest Rehabilitation assigned leases on four properties to Lifepoint Health in which the Company had a gross investment totaling $80.7 million at September 30, 2023.

Real Estate Leases (Tables)

Real Estate Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases	Future minimum lease payments under the non-cancelable operating leases due to the Company for the years ending December 31, as of September 30, 2023, are as follows (in thousands): 2023 (three months ended December 31) $ 24,203 2024 93,601 2025 85,888 2026 76,764 2027 69,814 2028 and thereafter 404,637 $ 754,907
Schedule of Lease Receivables	Future lease payments due to the Company under this lease for the years ending December 31, as of September 30, 2023, are as follows (in thousands): 2023 (three months ended December 31) $ 85 2024 346 2025 356 2026 367 2027 378 2028 and thereafter 5,210 Total undiscounted lease receivable 6,742 Discount (3,710) Lease receivable $ 3,032
Schedule of Operating Lease Payments	The Company's future lease payments under these non-prepaid ground leases were as follows (in thousands): Operating Financing 2023 (three months ended December 31) $ 11 $ 35 2024 43 154 2025 44 154 2026 44 154 2027 45 154 2028 and thereafter 1,148 6,956 Total undiscounted lease payments 1,335 7,607 Discount (558) (4,330) Lease liabilities $ 777 $ 3,277
Schedule of Finance Lease Payments	The Company's future lease payments under these non-prepaid ground leases were as follows (in thousands): Operating Financing 2023 (three months ended December 31) $ 11 $ 35 2024 43 154 2025 44 154 2026 44 154 2027 45 154 2028 and thereafter 1,148 6,956 Total undiscounted lease payments 1,335 7,607 Discount (558) (4,330) Lease liabilities $ 777 $ 3,277
Schedule of Ground Leases	The following table discloses other information regarding the ground leases. Three Months Ended 2023 2022 Operating leases: Weighted-average remaining lease term in years (including renewal options) 35.4 36.1 Weighted-average discount rate 4.0 % 4.0 % Financing leases: Weighted-average remaining lease term in years (including renewal options) 40.1 41.0 Weighted-average discount rate 4.3 % 4.2 %

Real Estate Acquisitions And _2

Real Estate Acquisitions And Dispositions (Tables)	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Property Acquisitions	The following table summarizes our property acquisitions for the nine months ended September 30, 2023: Location Property Type (1) Date Purchase Cash Real Estate Other (2) Square Footage (000's) (000's) (000's) (000's) LaGrange, GA MOB 01/18/23 $ 8,007 $ 8,087 $ 8,118 $ (31) 55,310 West Point, GA MOB 01/18/23 811 819 822 (3) 5,600 Canton, OH MOB 01/30/23 3,669 3,706 4,287 (581) 27,920 Scranton, PA MOB 02/23/23 1,957 2,165 2,317 (152) 22,743 Scranton, PA MOB 02/23/23 2,207 2,366 2,340 26 15,768 LaGrange, GA MOB 03/06/23 6,469 6,458 6,622 (164) 31,473 LaGrange, GA MOB 03/06/23 249 294 300 (6) 2,972 Lakeland, FL Land 04/03/23 838 845 846 (1) — Hermitage, PA MOB 05/04/23 4,218 4,382 4,529 (147) 25,982 San Antonio, TX MOB 05/22/23 2,772 2,783 3,031 (248) 12,376 Clinton, MD MOB 06/21/23 7,850 7,807 7,867 (60) 37,344 Ft. Myers, FL MOB 07/28/23 10,646 10,739 10,952 (213) 43,322 Ft. Myers, FL MOB 07/28/23 582 588 497 91 3,200 Immokalee, FL MOB 07/28/23 847 863 881 (18) 6,757 El Paso, TX IRF 07/31/23 23,500 23,538 23,538 — 37,992 Beaver, PA MOB 08/24/23 3,330 3,496 3,581 (85) 15,878 Westlake, OH MOB 08/25/23 2,425 2,444 2,535 (91) 14,100 Newcastle, PA MOB 09/15/23 10,375 10,613 11,239 (626) 56,003 $ 90,752 $ 91,993 $ 94,302 $ (2,309) 414,740 (1) MOB - Medical Office Building; IRF - Inpatient Rehabilitation Facility (2) Includes other assets acquired, liabilities assumed, and above and below-market intangibles recognized at acquisition.
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the relative fair values of the assets acquired and liabilities assumed in the property acquisitions for the nine months ended September 30, 2023: Relative Estimated (in thousands) (in years) Land and land improvements $ 17,836 8.7 Building and building improvements 65,765 30.8 Intangibles: At-market lease intangibles 10,701 4.5 Above-market lease intangibles 976 5.1 Below-market lease intangibles (2,940) 5.4 Total intangibles 8,737 Accounts payable, accrued liabilities and other liabilities assumed (399) Accounts receivable and other assets acquired 303 Prorated rent, interest and operating expense reimbursement amounts collected (249) Total cash consideration $ 91,993

Debt, net (Tables)

Debt, net (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The table below details the Company's debt as of September 30, 2023 and December 31, 2022. Balance as of (Dollars in thousands) September 30, 2023 December 31, 2022 Maturity Dates Credit Facility: Revolving Credit Facility $ 48,000 $ — 3/26 A-3 Term Loan, net 74,700 74,609 3/26 A-4 Term Loan, net 124,494 124,409 3/28 A-5 Term Loan, net 149,157 149,059 3/30 Mortgage Note Payable, net 4,841 4,920 5/24 $ 401,192 $ 352,997

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Instruments on Balance Sheet	The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Condensed Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022. Asset Derivatives Fair Value at Liability Derivatives Fair Value at (Dollars in thousands) September 30, 2023 December 31, 2022 Balance Sheet Classification September 30, 2023 December 31, 2022 Balance Sheet Classification Interest rate swaps $ 29,038 $ 22,667 Other assets, net $ — $ — Other liabilities, net Offsetting of Derivative Assets (as of September 30, 2023) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Assets in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ 29,038 $ — $ 29,038 $ — $ — $ 29,038 Offsetting of Derivative Liabilities (as of September 30, 2023) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ — $ — $ — $ — $ — $ — Offsetting of Derivative Assets (as of December 31, 2022) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Assets in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ 22,667 $ — $ 22,667 $ — $ — $ 22,667 Offsetting of Derivative Liabilities (as of December 31, 2022) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ — $ — $ — $ — $ — $ —
Schedule of Cash Flow Hedging	The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three and nine months ended September 30, 2023 and 2022. Three Months Ended Nine Months Ended (Dollars in thousands) 2023 2022 2023 2022 Amount of unrealized gain recognized in OCI on derivatives $ 8,691 $ 8,983 $ 13,593 $ 24,974 Amount of (gain) loss reclassified from AOCI into interest expense $ (2,738) $ (276) $ (7,222) $ 1,474 Total interest expense presented in the Condensed Consolidated Statements of Income in which the effects of the cash flow hedges are recorded $ 4,641 $ 3,028 $ 12,773 $ 8,409

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule of Reconciliation of Common Stock	The following table provides a reconciliation of the beginning and ending common stock balances for the nine months ended September 30, 2023 and for the year ended December 31, 2022: (In thousands) Nine Months Ended Year Ended Balance, beginning of period 25,897 24,983 Issuance of common stock 1,037 600 Restricted stock issued 361 318 Restricted stock withheld and forfeited (30) (4) Balance, end of period 27,265 25,897
Schedule of ATM Program	As of September 30, 2023, the Company had approximately $443.6 million remaining that may be issued under the ATM Program. Three Months Ended Nine Months Ended Shares issued ( in thousands ) 552 1,037 Net proceeds received ( in millions) $17.8 $34.8 Average gross sales price per share $32.93 $34.18

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Net Income Per Share	The following table sets forth the computation of basic and diluted net income per common share for the three and nine months ended September 30, 2023 and 2022, respectively. Three Months Ended Nine Months Ended (In thousands, except per share data) 2023 2022 2023 2022 Net income $ 3,492 $ 5,673 $ 3,147 $ 16,781 Participating securities' share in earnings (622) (759) (1,995) (2,086) Net income, less participating securities' share in earnings $ 2,870 $ 4,914 $ 1,152 $ 14,695 Weighted average Common Shares outstanding Weighted average Common Shares outstanding 26,823 25,221 26,411 25,123 Unvested restricted shares (1,309) (1,634) (1,471) (1,545) Weighted average Common Shares outstanding–Basic 25,514 23,587 24,940 23,578 Dilutive potential common shares — — — — Weighted average Common Shares outstanding –Diluted 25,514 23,587 24,940 23,578 Basic Net Income per Common Share $ 0.11 $ 0.21 $ 0.05 $ 0.62 Diluted Net Income per Common Share $ 0.11 $ 0.21 $ 0.05 $ 0.62

Stock Incentive Plan (Tables)

Stock Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Nonvested Restricted Stock Activity	A summary of the activity under the Company's 2014 Incentive Plan, as amended, for the three and nine months ended September 30, 2023 and 2022 is included in the table below, as well as compensation expense recognized from the amortization of the value of shares over the applicable vesting periods. Three Months Ended Nine Months Ended (Dollars and shares in thousands) 2023 2022 2023 2022 Stock-based awards, beginning of period 1,203 1,512 1,708 1,416 Stock in lieu of compensation 57 64 141 116 Stock awards 114 136 220 203 Total stock granted 171 200 361 319 Vested shares (1) — — (692) (22) Forfeited shares — — (3) (1) Stock-based awards, end of period 1,374 1,712 1,374 1,712 Amortization expense (1) $ 1,898 $ 2,464 $ 17,936 $ 6,770 ___________ (1) Amortization expense for the nine months ended September 30, 2023 included accelerated amortization totaling approximately $11.8 million and vesting of 624,725 shares upon the passing of our former CEO and President.

Other Assets, net (Tables)

Other Assets, net (Tables)	9 Months Ended
	Sep. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets, net on the Company's Condensed Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022 are detailed in the table below. Balance as of (Dollars in thousands) September 30, 2023 December 31, 2022 Notes receivable $ 31,645 $ 32,705 Accounts and interest receivable, net 4,053 2,679 Straight-line rent receivable 17,899 15,429 Prepaid assets 1,802 980 Deferred financing costs, net 524 683 Leasing commissions, net 2,409 1,848 Deferred tax assets, net — 306 Fair value of interest rate swaps 29,038 22,667 Above-market lease intangible assets, net 2,853 2,399 Sales-type lease receivable 3,032 3,035 Financing right-of-use asset 2,501 2,545 Assets held for sale 1,116 — Operating lease right-of-use assets 735 759 Other 655 496 $ 98,262 $ 86,531
Schedule of VIEs	The VIEs that we have identified at September 30, 2023 are summarized in the table below. Classification Carrying Amount (in thousands) Maximum Exposure to Loss (in thousands) Note receivable (term loan) $ 6,750 $ 6,750 Note receivable (revolving credit facility) $ 5,435 $ 5,435 Note receivable (term loan) $ 17,000 $ 17,000 Note receivable (revolving credit facility) $ 2,460 $ 2,460

Other Liabilities, net (Tables)

Other Liabilities, net (Tables)	9 Months Ended
	Sep. 30, 2023
Other Liabilities Disclosure [Abstract]
Schedule of Other Liabilities	Other liabilities, net on the Company's Condensed Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022 are detailed in the table below. Balance as of (Dollars in thousands) September 30, 2023 December 31, 2022 Prepaid rent $ 4,699 $ 3,853 Security deposits 3,676 5,766 Below-market lease intangibles, net 3,261 1,075 Financing lease liability 3,277 3,279 Operating lease liability 777 786 Liabilities held for sale 48 — Other 456 478 $ 16,194 $ 15,237

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, by Balance Sheet Grouping	The table below details the fair values and carrying values for our notes receivable, interest rate swaps, and mortgage note payable at September 30, 2023 and December 31, 2022, using level 2 inputs. September 30, 2023 December 31, 2022 (Dollars in thousands) Carrying Value Fair Value Carrying Value Fair Value Notes receivable $ 31,645 $ 31,321 $ 32,705 $ 32,716 Interest rate swap asset $ 29,038 $ 29,038 $ 22,667 $ 22,667 Mortgage note payable (principal amount) $ 4,853 $ 4,731 $ 4,947 $ 4,761

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands, ft² in Millions	Sep. 30, 2023 USD ($) ft² real_estate_property state	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Total real estate properties | $	$ 1,049,025
Number of real estate properties | real_estate_property	191
Number of properties held for investment in financing lease | real_estate_property	1
Lease receivable | $	$ 3,032	$ 3,035
Number of properties held for sale | real_estate_property	1
Disposal property | $	$ 1,100
Number of states | state	34
Area of real estate property (in square feet) | ft²	4.2
Percentage leased	91%
Remaining lease term	7 years 1 month 6 days

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 3,885	$ 11,233	$ 2,656
Restricted cash	1,048	835	682
Cash, cash equivalents and restricted cash	$ 4,933	$ 12,068	$ 3,338	$ 2,867

Real Estate Properties - Additi

Real Estate Properties - Additional Information (Details) ft² in Thousands, $ in Thousands	Sep. 30, 2023 USD ($) ft² real_estate_property lease	Jun. 30, 2023 ft²	Dec. 31, 2022 USD ($)
Real Estate Properties [Line Items]
Total real estate properties | $	$ 1,049,025
Number of real estate properties	191
Number of properties held for investment in financing lease	1
Lease receivable | $	$ 3,032		$ 3,035
Number of properties held for sale	1
Disposal property | $	$ 1,100
Area of real estate property (in square feet) | ft²	4,200
Percentage leased	91%
Held for sale
Real Estate Properties [Line Items]
Disposal property | $	$ 1,100
Florida
Real Estate Properties [Line Items]
Total real estate properties | $	$ 109,846
Number of real estate properties	25
Genesis Care
Real Estate Properties [Line Items]
Area of real estate property (in square feet) | ft²	62
Percentage leased	1.90%
Genesis Care | North Carolina
Real Estate Properties [Line Items]
Area of real estate property (in square feet) | ft²		11
Genesis Care | Florida
Real Estate Properties [Line Items]
Area of real estate property (in square feet) | ft²	46
Genesis Care | North Carolina and Florida
Real Estate Properties [Line Items]
Number of leases | lease	2
Genesis Care | Sole Tenant Property
Real Estate Properties [Line Items]
Number of real estate properties	5
Genesis Care | Multi-Tenant Property
Real Estate Properties [Line Items]
Number of real estate properties	2

Real Estate Properties - Schedu

Real Estate Properties - Schedule of Real Estate Property Investments (Details) $ in Thousands	Sep. 30, 2023 USD ($) real_estate_property	Mar. 31, 2023 USD ($) real_estate_property
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	191
Total real estate properties | $	$ 1,049,025
Lifepoint Health
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	6
Total real estate properties | $	$ 105,888
US HealthVest
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	3
Total real estate properties | $	$ 77,964
All Others
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	182
Total real estate properties | $	$ 865,173
Everest Rehabilitation
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property		4
Total real estate properties | $		$ 80,700
Texas
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	17
Total real estate properties | $	$ 162,455
Illinois
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	16
Total real estate properties | $	$ 122,384
Ohio
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	26
Total real estate properties | $	$ 113,086
Florida
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	25
Total real estate properties | $	$ 109,846
Pennsylvania
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	15
Total real estate properties | $	$ 57,568
All Others
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	92
Total real estate properties | $	$ 483,686
Medical Office Building
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	91
Total real estate properties | $	$ 424,174
Inpatient Rehabilitation Hospitals
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	8
Total real estate properties | $	$ 174,772
Acute Inpatient Behavioral
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	5
Total real estate properties | $	$ 130,472
Specialty Centers
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	37
Total real estate properties | $	$ 120,095
Physician Clinics
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	30
Total real estate properties | $	$ 86,735
Surgical Centers and Hospitals
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	10
Total real estate properties | $	$ 52,823
Behavioral Specialty Facilities
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	9
Total real estate properties | $	$ 45,017
Long-term Acute Care Hospitals
Real Estate Properties [Line Items]
Number of real estate properties | real_estate_property	1
Total real estate properties | $	$ 14,937

Real Estate Leases - Future Min

Real Estate Leases - Future Minimum Lease Payments Under Non-cancelable Operating Leases (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Leases [Abstract]
2023 (three months ended December 31)	$ 24,203
2024	93,601
2025	85,888
2026	76,764
2027	69,814
2028 and thereafter	404,637
Total	$ 754,907

Real Estate Leases - Additional

Real Estate Leases - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) real_estate_property lease	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) real_estate_property lease	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Concentration Risk [Line Items]
Straight line rent	$ 400	$ 900	$ 2,180	$ 2,590
Real estate investment property, net	$ 851,931		$ 851,931		$ 777,826
Number of real estate properties | real_estate_property	191		191
Number of properties held for investment in financing lease | real_estate_property	1		1
Lease receivable	$ 3,032		$ 3,032		$ 3,035
Interest income	$ 100	$ 100	$ 200	$ 200
Number of operating leases | lease	4		4
Number of finance leases | lease	2		2
Four Real Estate Property
Concentration Risk [Line Items]
Real estate investment property, net	$ 40,400		$ 40,400
Number of real estate properties | real_estate_property	11		11

Real Estate Leases - Lease Rece

Real Estate Leases - Lease Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
2023 (three months ended December 31)	$ 85
2024	346
2025	356
2026	367
2027	378
2028 and thereafter	5,210
Total undiscounted lease receivable	6,742
Discount	(3,710)
Lease receivable	$ 3,032	$ 3,035

Real Estate Leases - Future Lea

Real Estate Leases - Future Lease Payments Under Non-prepaid Ground Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Operating
2023 (three months ended December 31)	$ 11
2024	43
2025	44
2026	44
2027	45
2028 and thereafter	1,148
Total undiscounted lease payments	1,335
Discount	(558)
Lease liabilities	777	$ 786
Financing
2023 (three months ended December 31)	35
2024	154
2025	154
2026	154
2027	154
2028 and thereafter	6,956
Total undiscounted lease payments	7,607
Discount	(4,330)
Lease liabilities	$ 3,277	$ 3,279

Real Estate Leases - Ground Lea

Real Estate Leases - Ground Leases (Details)	Sep. 30, 2023	Sep. 30, 2022
Operating leases:
Weighted-average remaining lease term in years (including renewal options)	35 years 4 months 24 days	36 years 1 month 6 days
Weighted-average discount rate	4%	4%
Financing leases:
Weighted-average remaining lease term in years (including renewal options)	40 years 1 month 6 days	41 years
Weighted-average discount rate	4.30%	4.20%

Real Estate Acquisitions And _3

Real Estate Acquisitions And Dispositions - Additional Information (Details) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2023 USD ($) real_estate_property	Jun. 30, 2023 USD ($) land_parcel real_estate_property	Mar. 31, 2023 real_estate_property	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)
Business Acquisition [Line Items]
Impairment of real estate asset	$ 102	$ 1,600		$ 0	$ 102	$ 0
Insurance proceeds from casualty loss		2,300			2,273	$ 0
Held for sale
Business Acquisition [Line Items]
Impairment on the asset held for sale	$ 100
Interest And Other Income
Business Acquisition [Line Items]
Insurance proceeds from casualty loss		$ 700
Acquisitions Of Properties During Q3 2023
Business Acquisition [Line Items]
Number of real estate properties acquired | real_estate_property	7
Percentage of properties that were leased at acquisition (in percent)	99.80%
Pro forma information, revenue of acquiree since acquisition date, actual	$ 800
Pro forma information, income of acquiree since acquisition date, actual	400
Transaction costs	$ 700
Acquisitions Of Properties During Q2 2023
Business Acquisition [Line Items]
Number of real estate properties acquired | real_estate_property		3
Percentage of properties that were leased at acquisition (in percent)		98.30%
Pro forma information, revenue of acquiree since acquisition date, actual					600
Pro forma information, income of acquiree since acquisition date, actual					100
Transaction costs					400
Number of land parcel acquired | land_parcel		1
Acquisitions Of Properties During Q1 2023
Business Acquisition [Line Items]
Number of real estate properties acquired | real_estate_property			7
Percentage of properties that were leased at acquisition (in percent)			100%
Pro forma information, revenue of acquiree since acquisition date, actual					2,200
Pro forma information, income of acquiree since acquisition date, actual					500
Transaction costs					$ 400

Real Estate Acquisitions And _4

Real Estate Acquisitions And Dispositions - Summary of Property Acquisitions (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($) ft²
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square footage (in square feet) | ft²	4,200,000
Acquisitions Of Properties During Q1 2023 | LaGrange, GA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 8,007
Cash Consideration	8,087
Real Estate	8,118
Other	$ (31)
Square footage (in square feet) | ft²	55,310
Acquisitions Of Properties During Q1 2023 | West Point, GA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 811
Cash Consideration	819
Real Estate	822
Other	$ (3)
Square footage (in square feet) | ft²	5,600
Acquisitions Of Properties During Q1 2023 | Canton, OH
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 3,669
Cash Consideration	3,706
Real Estate	4,287
Other	$ (581)
Square footage (in square feet) | ft²	27,920
Acquisitions Of Properties During Q1 2023 | Scranton, PA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 1,957
Cash Consideration	2,165
Real Estate	2,317
Other	$ (152)
Square footage (in square feet) | ft²	22,743
Acquisitions Of Properties During Q1 2023 | Scranton, PA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 2,207
Cash Consideration	2,366
Real Estate	2,340
Other	$ 26
Square footage (in square feet) | ft²	15,768
Acquisitions Of Properties During Q1 2023 | LaGrange, GA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 6,469
Cash Consideration	6,458
Real Estate	6,622
Other	$ (164)
Square footage (in square feet) | ft²	31,473
Acquisitions Of Properties During Q1 2023 | LaGrange, GA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 249
Cash Consideration	294
Real Estate	300
Other	$ (6)
Square footage (in square feet) | ft²	2,972
Acquisitions Of Properties During Q2 2023 | Lakeland, FL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 838
Cash Consideration	845
Real Estate	846
Other	$ (1)
Square footage (in square feet) | ft²	0
Acquisitions Of Properties During Q2 2023 | Hermitage, PA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 4,218
Cash Consideration	4,382
Real Estate	4,529
Other	$ (147)
Square footage (in square feet) | ft²	25,982
Acquisitions Of Properties During Q2 2023 | San Antonio, TX
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 2,772
Cash Consideration	2,783
Real Estate	3,031
Other	$ (248)
Square footage (in square feet) | ft²	12,376
Acquisitions Of Properties During Q2 2023 | Clinton, MD
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 7,850
Cash Consideration	7,807
Real Estate	7,867
Other	$ (60)
Square footage (in square feet) | ft²	37,344
Acquisitions Of Properties During Q3 2023 | Ft. Myers, FL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 10,646
Cash Consideration	10,739
Real Estate	10,952
Other	$ (213)
Square footage (in square feet) | ft²	43,322
Acquisitions Of Properties During Q3 2023 | Ft. Myers, FL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 582
Cash Consideration	588
Real Estate	497
Other	$ 91
Square footage (in square feet) | ft²	3,200
Acquisitions Of Properties During Q3 2023 | Immokalee, FL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 847
Cash Consideration	863
Real Estate	881
Other	$ (18)
Square footage (in square feet) | ft²	6,757
Acquisitions Of Properties During Q3 2023 | El Paso, TX
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 23,500
Cash Consideration	23,538
Real Estate	23,538
Other	$ 0
Square footage (in square feet) | ft²	37,992
Acquisitions Of Properties During Q3 2023 | Beaver, PA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 3,330
Cash Consideration	3,496
Real Estate	3,581
Other	$ (85)
Square footage (in square feet) | ft²	15,878
Acquisitions Of Properties During Q3 2023 | Westlake, OH
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 2,425
Cash Consideration	2,444
Real Estate	2,535
Other	$ (91)
Square footage (in square feet) | ft²	14,100
Acquisitions Of Properties During Q3 2023 | Newcastle, PA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 10,375
Cash Consideration	10,613
Real Estate	11,239
Other	$ (626)
Square footage (in square feet) | ft²	56,003
Acquisitions Of Properties During 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 90,752
Cash Consideration	91,993
Real Estate	94,302
Other	$ (2,309)
Square footage (in square feet) | ft²	414,740

Real Estate Acquisitions And _5

Real Estate Acquisitions And Dispositions - Assets Acquired and Liabilities Assumed (Details) - Series of Individually Immaterial Asset Acquisitions $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Business Acquisition [Line Items]
Land and land improvements	$ 17,836
Building and building improvements	65,765
Intangibles:
Below-market lease intangibles	$ (2,940)
Below market lease useful life (in years)	5 years 4 months 24 days
Total intangibles	$ 8,737
Accounts payable, accrued liabilities and other liabilities assumed	(399)
Accounts receivable and other assets acquired	303
Prorated rent, interest and operating expense reimbursement amounts collected	(249)
Total cash consideration	91,993
At-market lease intangibles
Intangibles:
Lease intangibles	$ 10,701
Intangibles useful life (in years)	4 years 6 months
Above-market lease intangibles
Intangibles:
Lease intangibles	$ 976
Intangibles useful life (in years)	5 years 1 month 6 days
Land and land improvements
Business Acquisition [Line Items]
Estimated useful life (in years)	8 years 8 months 12 days
Building and building improvements
Business Acquisition [Line Items]
Estimated useful life (in years)	30 years 9 months 18 days

Debt, net - Schedule of Debt (D

Debt, net - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Debt, net	$ 401,192	$ 352,997
Mortgage Note Payable, net
Debt Instrument [Line Items]
Debt, net	4,841	4,920
Revolving Credit Facility | Line of Credit | Third Amended And Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	48,000	0
A-3 Term Loan, net | Term Loan | Third Amended And Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	74,700	74,609
A-4 Term Loan, net | Term Loan | Third Amended And Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	124,494	124,409
A-5 Term Loan, net | Term Loan | Third Amended And Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	$ 149,157	$ 149,059

Debt, net - Additional Informat

Debt, net - Additional Information (Details)	Dec. 14, 2022 USD ($) option	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Line of Credit Facility [Line Items]
Amount outstanding		$ 401,192,000	$ 352,997,000
Real estate investment property, net		851,931,000	777,826,000
Mortgage Note Payable, net
Line of Credit Facility [Line Items]
Amount outstanding		$ 4,841,000	4,920,000
Fixed interest rate (in percent)		4.98%
Debt instrument, balloon payment to be paid		$ 4,800,000
Mortgage Note Payable, net | Building
Line of Credit Facility [Line Items]
Real estate investment property, net		6,800,000
Third Amended And Restated Credit Facility | A-5 Term Loan, net | Term Loan
Line of Credit Facility [Line Items]
Face amount	$ 150,000,000
Debt term (in years)	7 years 3 months
Amount outstanding		149,157,000	149,059,000
Third Amended And Restated Credit Facility | Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 150,000,000
Number of options to extend | option	1
Length of extension	12 months
Amount outstanding		$ 48,000,000	0
Weighted average interest rate percentage		7.05%
Remaining borrowing capacity		$ 102,000,000
Third Amended And Restated Credit Facility | Revolving Credit Facility | Line of Credit | SOFR | Minimum
Line of Credit Facility [Line Items]
Variable rate percentage	1.25%
Third Amended And Restated Credit Facility | Revolving Credit Facility | Line of Credit | SOFR | Maximum
Line of Credit Facility [Line Items]
Variable rate percentage	1.90%
Third Amended And Restated Credit Facility | Revolving Credit Facility | Line of Credit | Base Rate | Minimum
Line of Credit Facility [Line Items]
Variable rate percentage	0.25%
Third Amended And Restated Credit Facility | Revolving Credit Facility | Line of Credit | Base Rate | Maximum
Line of Credit Facility [Line Items]
Variable rate percentage	0.90%
Third Amended And Restated Credit Facility | Term Loan | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 350,000,000
Third Amended And Restated Credit Facility | A-2 Term Loan, net | Term Loan
Line of Credit Facility [Line Items]
Face amount	$ 50,000,000
Debt term (in years)	7 years
Third Amended And Restated Credit Facility | Credit Facility, Accordion Feature
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 700,000,000
Third Amended And Restated Credit Facility | A-3 Term Loan, net | Term Loan
Line of Credit Facility [Line Items]
Face amount	$ 75,000,000
Debt term (in years)	7 years
Amount outstanding		74,700,000	74,609,000
Third Amended And Restated Credit Facility | A-4 Term Loan, net | Term Loan
Line of Credit Facility [Line Items]
Face amount	$ 125,000,000
Debt term (in years)	7 years
Amount outstanding		124,494,000	$ 124,409,000
Third Amended And Restated Credit Facility | Revolving Credit Facility, Unused Borrowing Capacity Rate 1 | Line of Credit
Line of Credit Facility [Line Items]
Unused borrowing commitment fee percentage	0.20%
Percentage of borrowing capacity outstanding	33.30%
Third Amended And Restated Credit Facility | Revolving Credit Facility, Unused Borrowing Capacity Rate 2 | Line of Credit
Line of Credit Facility [Line Items]
Unused borrowing commitment fee percentage	0.25%
Percentage of borrowing capacity outstanding	33.30%
First Amended And Restated Credit Facility | Term Loan
Line of Credit Facility [Line Items]
Amount outstanding		$ 350,000,000
Weighted average interest rate percentage		4.30%
First Amended And Restated Credit Facility | Term Loan | SOFR | Minimum
Line of Credit Facility [Line Items]
Variable rate percentage	1.45%
First Amended And Restated Credit Facility | Term Loan | SOFR | Maximum
Line of Credit Facility [Line Items]
Variable rate percentage	2.30%
First Amended And Restated Credit Facility | Term Loan | Base Rate | Minimum
Line of Credit Facility [Line Items]
Variable rate percentage	0.45%
First Amended And Restated Credit Facility | Term Loan | Base Rate | Maximum
Line of Credit Facility [Line Items]
Variable rate percentage	1.30%

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) derivative_instrument
Derivative [Line Items]
Cash flow hedges reclassified to interest expense	$ 10.7
Cash Flow Hedging | Interest Rate Contract
Derivative [Line Items]
Number outstanding interest rate derivatives | derivative_instrument	17
Notional amount	$ 350
Cash Flow Hedging | Interest Rate Swap
Derivative [Line Items]
Number outstanding interest rate derivatives | derivative_instrument	2
Notional amount	$ 50

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Fair Value Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Interest rate swap asset	$ 29,038	$ 22,667
Interest rate swap liability	$ 0	$ 0
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets, net	Other assets, net
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities, net	Other liabilities, net
Cash Flow Hedging | Interest rate swaps | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Interest rate swap asset	$ 29,038	$ 22,667
Interest rate swap liability	$ 0	$ 0

Derivative Financial Instrume_5

Derivative Financial Instruments - Schedule of Cash Flow Hedging (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense	Interest Expense	Interest Expense	Interest Expense
Interest Rate Contract | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of unrealized gain recognized in OCI on derivatives	$ 8,691	$ 8,983	$ 13,593	$ 24,974
Total interest expense presented in the Condensed Consolidated Statements of Income in which the effects of the cash flow hedges are recorded	4,641	3,028	12,773	8,409
Interest Rate Contract | Cash Flow Hedging | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss reclassified from AOCI into interest expense	$ (2,738)	$ (276)	$ (7,222)	$ 1,474

Derivative Financial Instrume_6

Derivative Financial Instruments - Schedule of Offsetting of Derivative Assets and Liability (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Derivative Asset [Abstract]
Gross Amounts of Recognized Assets	$ 29,038	$ 22,667
Gross Amounts Offset in the Condensed Consolidated Balance Sheet	0	0
Net Amounts of Assets in the Condensed Consolidated Balance Sheets	29,038	22,667
Gross amounts not offset in the condensed Consolidated balance sheets, financial instruments	0	0
Gross amounts not offset in the condensed consolidated balance sheets, net amount	0	0
Gross amounts not offset in the condensed consolidated balance sheets, cash collateral received	29,038	22,667
Derivative Liability [Abstract]
Gross Amounts of Recognized Liabilities	0	0
Gross Amounts Offset in the Condensed Consolidated Balance Sheet	0	0
Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets	0	0
Gross amounts not offset in the condensed consolidated balance sheets, financial instruments	0	0
Gross amounts not offset in the condensed consolidated balance sheets, cash collateral received	0	0
Gross amounts not offset in the condensed consolidated balance sheets, net amount	$ 0	$ 0

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Reconciliation of Common Stock (Details) - shares shares in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in shares)	25,897	24,983
Issuance of common stock, net of issuance costs (in shares)	1,037	600
Restricted stock issued (in shares)	361	318
Restricted stock withheld and forfeited (in shares)	(30)	(4)
Balance, end of period (in shares)	27,265	25,897

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - At The Market Offering Program - Common Stock $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Subsidiary, Sale of Stock [Line Items]
Value of shares authorized	$ 500
Shares available for issuance	$ 443.6

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of ATM Program (Details) - Common Stock - At The Market Offering Program - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	552	1,037
Net proceeds received	$ 17.8	$ 34.8
Average gross sales price per share (in dollars per share)	$ 32.93	$ 34.18

Net Income Per Common Share - S

Net Income Per Common Share - Schedule of Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net income	$ 3,492	$ 5,673	$ 3,147	$ 16,781
Participating securities' share in earnings	(622)	(759)	(1,995)	(2,086)
Net income, less participating securities' share in earnings	$ 2,870	$ 4,914	$ 1,152	$ 14,695
Weighted average Common Shares outstanding
Weighted average common shares outstanding (in shares)	26,823	25,221	26,411	25,123
Unvested restricted shares (in shares)	(1,309)	(1,634)	(1,471)	(1,545)
Weighted average common shares outstanding – basic (in shares)	25,514	23,587	24,940	23,578
Dilutive potential common share (in shares)	0	0	0	0
Weighted average common shares outstanding –diluted (in shares)	25,514	23,587	24,940	23,578
Basic net income per common share (in dollars per share)	$ 0.11	$ 0.21	$ 0.05	$ 0.62
Diluted net income per common share (in dollars per share)	$ 0.11	$ 0.21	$ 0.05	$ 0.62

Stock Incentive Plan - Schedule

Stock Incentive Plan - Schedule of Nonvested Restricted Stock Activity (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Stock-based awards:
Stock-based compensation expense				$ 17,900	$ 6,800
Accelerated amortization of stock-based compensation				$ 11,799	$ 0
Restricted Common Stock | Former CEO and President
Stock-based awards:
Accelerated amortization of stock-based compensation		$ 11,800
Share based payment award, accelerated vesting (in shares)				624,725
2014 Incentive Plan | Restricted Common Stock
Stock-based awards:
Stock-based awards, beginning of period (in shares)	1,203,000	1,708,000	1,512,000	1,708,000	1,416,000
Granted (in shares)	171,000		200,000	361,000	319,000
Vested (in shares)	0		0	(692,000)	(22,000)
Forfeited (in shares)	0		0	(3,000)	(1,000)
Stock-based awards, end of period (in shares)	1,374,000		1,712,000	1,374,000	1,712,000
Stock-based compensation expense	$ 1,898		$ 2,464	$ 17,936	$ 6,770
2014 Incentive Plan | Stock in lieu of compensation
Stock-based awards:
Granted (in shares)	57,000		64,000	141,000	116,000
2014 Incentive Plan | Stock awards
Stock-based awards:
Granted (in shares)	114,000		136,000	220,000	203,000

Other Assets, net - Schedule of

Other Assets, net - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Notes receivable	$ 31,645	$ 32,705
Accounts and interest receivable, net	4,053	2,679
Straight-line rent receivable	17,899	15,429
Prepaid assets	1,802	980
Deferred financing costs, net	524	683
Leasing commissions, net	2,409	1,848
Deferred tax assets, net	0	306
Fair value of interest rate swaps	29,038	22,667
Above-market lease intangible assets, net	2,853	2,399
Sales-type lease receivable	3,032	3,035
Financing right-of-use asset	2,501	2,545
Assets held for sale	1,116	0
Operating lease right-of-use assets	735	759
Other	655	496
Other assets, net	$ 98,262	$ 86,531

Other Assets, net - Additional

Other Assets, net - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023 USD ($) hospital	Dec. 31, 2022 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	$ 31,645,000	$ 32,705,000
Note receivable (term loan) | Variable Interest Entity, Not Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	$ 6,750,000
Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable interest rate	9%
Additional funding	$ 5,000,000
Non-cash interest rate	3%
Notes Receivable | Note receivable (term loan)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	$ 6,800,000	9,000,000
Payment received	$ 250,000
Note receivable interest rate	9%
Notes Receivable | Note receivable (revolving credit facility)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment received	$ 40,000
Note receivable (term loan) | Variable Interest Entity, Not Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	17,000,000	17,000,000
Note receivable (revolving credit facility) | Variable Interest Entity, Not Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	5,435,000	5,000,000
Note receivable (revolving credit facility) | Variable Interest Entity, Not Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	$ 2,460,000	$ 1,700,000
Long-Term Acute Care Hospitals | Note receivable (term loan)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of properties used to secure notes by borrower | hospital	7
Inpatient Rehabilitation Facilities | Note receivable (term loan)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of properties used to secure notes by borrower | hospital	1
Geriatric Behavioral Hospital
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of properties used to secure notes by borrower | hospital	6
Revolving Credit Facility | Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable interest rate	9%
Revolving Credit Facility | Note receivable (revolving credit facility)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable interest rate	9%
Non-cash interest rate	3%

Other Assets, net - Schedule _2

Other Assets, net - Schedule of VIEs (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Carrying amount	$ 31,645	$ 32,705
Variable Interest Entity, Not Primary Beneficiary | Note receivable (term loan)
Variable Interest Entity [Line Items]
Carrying amount	6,750
Maximum exposure to loss	6,750
Variable Interest Entity, Not Primary Beneficiary | Note receivable (revolving credit facility)
Variable Interest Entity [Line Items]
Carrying amount	5,435	5,000
Maximum exposure to loss	5,435
Variable Interest Entity, Not Primary Beneficiary | Note receivable (term loan)
Variable Interest Entity [Line Items]
Carrying amount	17,000	17,000
Maximum exposure to loss	17,000
Variable Interest Entity, Not Primary Beneficiary | Note receivable (revolving credit facility)
Variable Interest Entity [Line Items]
Carrying amount	2,460	$ 1,700
Maximum exposure to loss	$ 2,460

Other Liabilities, net - Schedu

Other Liabilities, net - Schedule of Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Prepaid rent	$ 4,699	$ 3,853
Security deposits	3,676	5,766
Below-market lease intangibles, net	$ 3,261	$ 1,075
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities, net	Other liabilities, net
Financing lease liability	$ 3,277	$ 3,279
Operating lease, liability, statement of financial position	Other liabilities, net	Other liabilities, net
Operating lease liability	$ 777	$ 786
Liabilities held for sale	48	0
Other	456	478
Other liabilities, net	$ 16,194	$ 15,237

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable	$ 31,645	$ 32,705
Interest rate swap asset	29,038	22,667
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable	31,645	32,705
Mortgage note payable (principal amount)	4,853	4,947
Carrying Value | Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap asset	29,038	22,667
Fair Value | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable	31,321	32,716
Mortgage note payable (principal amount)	4,731	4,761
Fair Value | Interest rate swaps | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap asset	$ 29,038	$ 22,667

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event $ / shares in Units, $ in Millions		1 Months Ended
	Oct. 26, 2023 $ / shares	Oct. 31, 2023 USD ($) real_estate_property
Subsequent Event [Line Items]
Dividend declared (in dollars per share) | $ / shares	$ 0.455
Aggregate purchase price | $		$ 7.1
Percentage of properties that were leased at acquisition (in percent)		96.80%
Medical Office Building
Subsequent Event [Line Items]
Number of real estate properties acquired | real_estate_property		2