Community Healthcare Trust (CHCT) 10-K 13 Feb 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Feb. 08, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 847.1
Entity Common Stock, Shares Outstanding		27,681,163
Documents Incorporated by Reference	Portions of the Registrant’s Definitive Proxy Statement relating to its 2024 Annual Meeting of Stockholders are incorporated by reference into Part III of this Report. The Registrant expects to file its Definitive Proxy Statement with the Securities and Exchange Commission within 120 days after December 31, 2023.
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001631569

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	BDO USA, P.C.
Auditor Location	Nashville, Tennessee
Auditor Firm ID	243

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Real estate properties
Land and land improvements	$ 136,532	$ 117,657
Buildings, improvements, and lease intangibles	913,416	825,257
Personal property	299	253
Total real estate properties	1,050,247	943,167
Less accumulated depreciation	(200,810)	(165,341)
Total real estate properties, net	849,437	777,826
Cash and cash equivalents	3,491	11,233
Restricted cash	1,142	835
Real estate properties held for sale	7,466	0
Other assets, net	83,876	86,531
Total assets	945,412	876,425
Liabilities
Debt, net	403,256	352,997
Accounts payable and accrued liabilities	12,032	11,377
Other liabilities, net	16,868	15,237
Total liabilities	432,156	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; 27,613 and 25,897 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively	276	259
Additional paid-in capital	688,156	625,136
Cumulative net income	88,856	81,142
Accumulated other comprehensive income	16,417	22,667
Cumulative dividends	(280,449)	(232,390)
Total stockholders’ equity	513,256	496,814
Total liabilities and stockholders' equity	$ 945,412	$ 876,425

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 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)	27,613,000	25,897,000
Common Stock, shares outstanding (in shares)	27,613,000	25,897,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
REVENUES
Rental income	$ 108,682	$ 94,103	$ 87,661
Other operating interest	4,163	3,576	2,918
Total revenue	112,845	97,679	90,579
EXPENSES
Property operating	20,713	16,636	15,158
General and administrative	27,338	14,837	12,113
Depreciation and amortization	39,693	32,339	30,401
Total expenses	87,744	63,812	57,672
OTHER INCOME (EXPENSE)
Gain on sale of real estate	0	0	237
Impairment of real estate asset	(102)	0	0
Interest expense	(17,792)	(11,873)	(10,542)
Deferred income tax expense	(306)	(41)	(167)
Interest and other income, net	813	66	57
Total	(17,387)	(11,848)	(10,415)
NET INCOME	$ 7,714	$ 22,019	$ 22,492
NET INCOME PER COMMON SHARE
Net income per common share – Basic (in dollars per share)	$ 0.20	$ 0.81	$ 0.87
Net income per common share – Diluted (in dollars per share)	$ 0.20	$ 0.81	$ 0.87
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-BASIC (in shares)	25,202	23,631	23,263
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-DILUTED (in shares)	25,202	23,631	23,263
DIVIDENDS DECLARED, PER COMMON SHARE, DURING THE PERIOD (in dollars per share)	$ 1.805	$ 1.765	$ 1.725

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 7,714	$ 22,019	$ 22,492
Other comprehensive (loss) income:
Increase in fair value of cash flow hedges	3,803	27,380	2,410
Reclassification of amounts recognized as interest expense	(10,053)	267	4,456
Total other comprehensive (loss) income	(6,250)	27,647	6,866
COMPREHENSIVE INCOME	$ 1,464	$ 49,666	$ 29,358

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid in Capital	Cumulative Net Income	Accumulated Other Comprehensive (Loss) Income	Cumulative Dividends
Beginning balance (in shares) at Dec. 31, 2020		0
Beginning balance at Dec. 31, 2020	$ 429,916	$ 0	$ 239	$ 550,391	$ 36,631	$ (11,846)	$ (145,499)
Balance, beginning of period (in shares) at Dec. 31, 2020	23,888,000		23,888,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of offering costs (in shares)	823,000		823,000
Issuance of common stock, net of issuance costs	$ 38,080		$ 8	38,072
Stock-based compensation (in shares)			272,000
Stock-based compensation	7,164		$ 3	7,161
Increase in fair value of cash flow hedges	2,410					2,410
Reclassification for amounts recognized as interest expense	4,456					4,456
Net income	22,492				22,492
Dividends to common stockholders	(42,406)						(42,406)
Ending balance (in shares) at Dec. 31, 2021		0
Ending balance at Dec. 31, 2021	$ 462,112	$ 0	$ 250	595,624	59,123	(4,980)	(187,905)
Balance, end 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 offering costs (in shares)	600,000		600,000
Issuance of common stock, net of issuance costs	$ 20,106		$ 6	20,100
Stock-based compensation (in shares)			314,000
Stock-based compensation	9,415		$ 3	9,412
Increase in fair value of cash flow hedges	27,380					27,380
Reclassification for amounts recognized as interest expense	267					267
Net income	22,019				22,019
Dividends to common stockholders	$ (44,485)						(44,485)
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of offering costs (in shares)	1,385,000		1,385,000
Issuance of common stock, net of issuance costs	$ 44,035		$ 14	44,021
Stock-based compensation (in shares)			331,000
Stock-based compensation	19,965		$ 3	19,962
Shares withheld on vesting of stock-based compensation	(963)			(963)
Increase in fair value of cash flow hedges	3,803					3,803
Reclassification for amounts recognized as interest expense	(10,053)					(10,053)
Net income	7,714				7,714
Dividends to common stockholders	$ (48,059)						(48,059)
Ending balance (in shares) at Dec. 31, 2023	0	0
Ending balance at Dec. 31, 2023	$ 513,256	$ 0	$ 276	$ 688,156	$ 88,856	$ 16,417	$ (280,449)
Balance, end of period (in shares) at Dec. 31, 2023	27,613,000		27,613,000

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares									12 Months Ended
	Nov. 24, 2023	Aug. 25, 2023	May 26, 2023	Mar. 01, 2023	Nov. 25, 2022	Aug. 26, 2022	May 27, 2022	Mar. 01, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends to common stockholders, per share (in dollars per share)	$ 0.4550	$ 0.4525	$ 0.4500	$ 0.4475	$ 0.4450	$ 0.4425	$ 0.4400	$ 0.4375	$ 1.805	$ 1.765	$ 1.725

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING ACTIVITIES
Net income	$ 7,714	$ 22,019	$ 22,492
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	39,693	32,339	30,401
Other amortization	746	853	824
Stock-based compensation	8,166	9,415	7,164
Accelerated amortization of stock-based compensation	11,799	0	0
Straight-line rent receivables	(3,052)	(3,444)	(3,569)
Impairment of real estate asset	102	0	0
Gain on sale of real estate	0	0	(237)
Net gain from insurance recovery on casualty loss	(706)	0	0
Deferred income tax expense	306	41	167
Changes in operating assets and liabilities:
Other assets	(2,950)	(1,783)	(1,285)
Accounts payable and accrued liabilities	859	1,419	(438)
Other liabilities	(1,294)	(579)	829
Net cash provided by operating activities	61,383	60,280	56,348
INVESTING ACTIVITIES
Acquisitions of real estate	(98,897)	(96,691)	(88,099)
Proceeds from the sale of real estate	0	0	1,263
Funding of notes receivable	(1,985)	(9,705)	(14,350)
Proceeds from repayments on notes receivable	3,915	3,000	3,978
Insurance proceeds from casualty loss	2,273	0	0
Capital expenditures on existing real estate properties	(18,981)	(10,376)	(7,219)
Net cash used in investing activities	(113,675)	(113,772)	(104,427)
FINANCING ACTIVITIES
Net borrowings (repayments) on revolving credit facility	50,000
Net borrowings (repayments) on revolving credit facility		(12,000)	(21,000)
Term loan borrowings	0	150,000	125,000
Term loan repayments	0	(50,000)	(50,000)
Mortgage note repayments	(126)	(130)	(104)
Dividends paid	(48,059)	(44,485)	(42,406)
Proceeds from issuance of common stock	44,232	20,544	38,426
Taxes paid on behalf of employees and shares withheld upon shares vesting	(963)	0	0
Equity issuance costs	(227)	(392)	(216)
Debt issuance costs	0	(844)	(1,646)
Net cash provided by financing activities	44,857	62,693	48,054
(Decrease) increase in cash, cash equivalents and restricted cash	(7,435)	9,201	(25)
Cash, cash equivalents and restricted cash, beginning of period	12,068	2,867	2,892
Cash, cash equivalents and restricted cash, end of period	4,633	12,068	2,867
Supplemental Cash Flow Information:
Interest paid	17,114	11,237	9,972
Invoices accrued for construction, tenant improvement and other capitalized costs	3,940	4,359	2,382
Reclassification of registration statement costs incurred in prior year to equity issuance costs	197	362	346
Increase in fair value of cash flow hedges	3,803	27,380	2,410
Capitalized interest	$ 611	$ 672	$ 279

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 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 December 31, 2023, we had gross investments of approximately $1.1 billion in 193 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 two properties classified as held for sale with an aggregate amount totaling approximately $7.5 million). The properties are located in 34 states, totaling approximately 4.3 million square feet in the aggregate and were approximately 91.1% leased, excluding real estate assets held for sale, at December 31, 2023 with a weighted average remaining lease term of approximately 6.9 years. Any references to square footage, property count, or occupancy percentages, and any amounts derived from these values in these notes to the consolidated financial statements are unaudited. Principles of Consolidation Our Consolidated Financial Statements include the accounts of the Company, its wholly-owned subsidiaries, and may also include joint ventures, partnerships and variable interest entities, or VIEs, where the Company controls the operating activities. Management must make judgments regarding the Company's level of influence or control over an entity and whether or not the Company is the primary beneficiary of a VIE. Consideration of various factors include, but is not limited to, the Company's ability to direct the activities that most significantly impact the entity's governing body, the size and seniority of the Company's investment, and the Company's ability to replace the manager and/or liquidate the entity. Management's ability to correctly assess its influence or control over an entity when determining the primary beneficiary of a VIE affects the presentation of these entities in the Company's Consolidated Financial Statements. If it is determined that the Company is the primary beneficiary of a VIE, the Company's Consolidated Financial Statements would consolidate the VIE rather than the Company's pro rata results of its variable interest in the VIE. Untimely or inaccurate financial information provided to the Company or deficiencies in the VIE's internal control over financial reporting could impact the Company's Consolidated Financial Statements and its own internal control over financial reporting. See Note 10 – Other Assets, net regarding VIEs identified by the Company related to its notes receivable. All material intercompany accounts, transactions, and balances have been eliminated in the presentation of the Company's Consolidated Financial Statements. Use of Estimates in the Consolidated Financial Statements Preparation of the Consolidated Financial Statements in accordance with GAAP requires management to make estimates and assumptions that affect amounts reported in the Consolidated Financial Statements and accompanying notes, including, among others, estimates related to impairment assessments, purchase price allocations, valuation of properties held for sale, and valuation of financial instruments. Actual results may materially differ from those estimates. Segment Reporting The Company acquires and owns, or finances, healthcare-related real estate properties that are leased to hospitals, doctors, healthcare systems or other healthcare service providers. The Company is managed as one reporting unit, rather than multiple reporting units, for internal reporting purposes and for internal decision-making. Therefore, the Company discloses its operating results in a single segment. Cash, 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 amount approximates 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 reported within the Company's Consolidated Balance Sheets and Consolidated Statements of Cash Flows: December 31, (Dollars in thousands) 2023 2022 Cash and cash equivalents $ 3,491 $ 11,233 Restricted cash 1,142 835 Cash, cash equivalents and restricted cash $ 4,633 $ 12,068 Real Estate Properties Real estate property acquisitions are accounted for as a business combination or an asset acquisition. An acquisition accounted for as a business combination is recorded at fair value and related closing costs are expensed as incurred. An acquisition accounted for as an asset acquisition is recorded at its purchase price, inclusive of acquisition costs, which is allocated among the acquired assets and assumed liabilities based upon their relative fair values at the date of acquisition. The Company expects that substantially all of its acquisitions will be accounted for as asset acquisitions. The allocation of real estate property acquisitions may include land and land improvements, building and building improvements, and identified intangible assets and liabilities ( which can include above- and below-market leases, in-place leases, and tenant relationships) based on the evaluation of information and estimates available at that date, and we allocate the purchase price based on these assessments. We make estimates of the acquisition date fair value of the acquired tangible and intangible assets and assumed liabilities using information obtained from multiple sources as a result of pre-acquisition due diligence, tax records, and other sources, including third-party valuations. Based on these estimates, we recognize the acquired assets and assumed liabilities at their relative fair values for asset acquisitions. The fair value of tangible property assets acquired considers the value of the property as if vacant determined by a combination of comparable sales, replacement cost, income valuation approach and other relevant data. The determination of fair value involves the use of significant judgment and estimation. We value land based on various inputs, which may include internal analysis of recently acquired properties, existing comparable properties within our portfolio, or third party appraisals or valuations based on comparable sales. In recognizing identified intangible assets and liabilities of an acquired property, the value of above- or below-market leases is estimated based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between contractual amounts to be received pursuant to the leases and an estimate of market lease rates measured over the remaining term of the lease. In the case of a below-market lease, renewal options associated with that lease are evaluated to determine if the intangible should include those periods. The capitalized above-market or below-market lease intangibles are amortized as a reduction from or an addition to rental income over the estimated remaining term of the respective leases. In determining the value of in-place leases and tenant improvements, current market conditions and costs to execute similar leases to arrive at an estimate of the carrying costs during the expected lease-up period from vacant to existing occupancy are considered. Estimated carrying costs include real estate taxes, insurance, other property operating expenses, estimates of lost rental revenue during the expected lease-up periods, and costs to execute similar leases, including leasing commissions. The values assigned to in-place leases and tenant relationships are amortized over the estimated remaining term of the lease. If a lease terminates prior to its scheduled expiration, all unamortized costs related to that lease are written off. The Company may capitalize direct costs, including costs such as construction costs and professional services, and indirect costs, including capitalized interest and overhead costs, associated with the development and construction of real estate assets while substantive activities are ongoing to prepare the assets for their intended use. Capitalized interest cost is calculated using the weighted average interest rate of the revolving credit facility debt. Long-lived Asset Impairments The Company assesses the potential for impairment of identifiable, definite-lived, intangible assets and long-lived assets, including real estate properties, whenever events occur or a change in circumstances indicates that the carrying value might not be fully recoverable. Indicators of impairment may include significant under-performance of an asset relative to historical or expected operating results; significant changes in the Company’s use of assets or the strategy for its overall business; plans to sell an asset before its depreciable life has ended; the expiration of a significant portion of leases in a property; or significant negative economic trends or negative industry trends for the Company or its operators. In addition, the Company’s review for possible impairment may include those assets subject to purchase options and those impacted by casualties, such as tornadoes and hurricanes or sustained changes to property occupancy. A long-lived asset is tested for impairment when management's estimate of current and projected, undiscounted and unleveraged, operating cash flows of the property is less than the net carrying value of the property. In determining these cash flows, the Company estimates market rent, capitalization rates, expected holding periods, and other relevant inputs. If management determines that the carrying value of the Company’s assets may not be fully recoverable based on the existence of any of the factors above, or others, management would measure and record an impairment charge based on the estimated fair value of the property or the estimated fair value less costs to sell the property. During the year ended December 31, 2023, the Company recorded an impairment on an asset held for sale totaling approximately $0.1 million. No impairments on long-lived assets were recorded during the year ended December 31, 2022 or 2021. Assets Held for Sale The Company may sell properties from time to time for various reasons, including the exercise of purchase options by our tenants. The Company classifies long-lived assets as held for sale once certain criteria have been met. The Company classifies a real estate property, or portfolio, as held for sale when: (i) management has approved the disposal, (ii) the property is available for sale in its present condition, (iii) an active program to locate a buyer has been initiated, (iv) it is probable that the property will be disposed of within one year, (v) the property is being marketed at a reasonable price relative to its fair value, and (vi) it is unlikely that the disposal plan will significantly change or be withdrawn. Following the classification of a property as “held for sale,” no further depreciation or amortization is recorded on the assets and the assets are recorded at the lower of carrying value or fair market value, less cost to sell. The Company had two properties classified as held for sale at December 31, 2023. There were no properties classified as held for sale at December 31, 2022. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. In calculating fair value, a company must maximize the use of observable market inputs, minimize the use of unobservable market inputs and disclose in the form of an outlined hierarchy the details of such fair value measurements. A hierarchy of valuation techniques is defined to determine whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. This hierarchy requires the use of observable market data when available. These inputs have created the following fair value hierarchy: • Level 1 – quoted prices for identical instruments in active markets. • Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Our interest rate swaps are valued in the market using discounted cash flow techniques. These techniques incorporate Level 1 and 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 in the hierarchy. Lease Accounting As a lessor, we make a determination with respect to each of our leases whether they should be accounted for as sales-type, direct-financing, or operating lease. Additionally, for each of our real estate transactions involving the leaseback of the related property to the seller or affiliates of the seller, we determine whether these transactions qualify as sale and leaseback transactions under the accounting guidance in Accounting Standards Codification ("ASC") 842, Leases . For these transactions, we consider various inputs and assumptions including, but not necessarily limited to, lease terms, renewal options, discount rates, and other rights and provisions in the purchase and sale agreement, lease and other documentation to determine whether control has been transferred to the Company or remains with the lessee. A transaction involving a sale leaseback will be treated as a purchase of a real estate property if it is considered to transfer control of the underlying asset from the lessee to the Company. Criteria in determining the lease classification includes estimates and assumptions regarding the fair value of the leased facilities, minimum lease payments, effective cost of funds, the economic useful life of the facilities, the existence of a purchase option, and certain other terms in the lease agreements, as well as the amounts we expect to derive from the underlying property at the end of each lease which equals our purchase price. The lease accounting guidance requires that a sale leaseback with an option to purchase the property from the landlord at the tenant's option be accounted for as a financing or sales-type lease. We expect that most of our leases will be accounted for as operating leases. The Company has a portion of one property accounted for as a sales-type lease at December 31, 2023 and 2022 included in other assets on the Consolidated Balance Sheets. Payments received under operating leases are accounted for in the Consolidated Statements of Income as rental income for actual cash rent collected plus or minus straight-line adjustments, such as lease escalators. The Company has elected not to separate lease and nonlease components, such as common area maintenance, unless certain conditions are not met. As such, tenant reimbursements are combined with rental income on the Consolidated Statements of Income. The Company is the lessee under four non-prepaid ground leases accounted for as operating leases and two non-prepaid ground lease accounted for as financing leases. The Company has elected not to separate lease and nonlease components, such as common area maintenance, unless certain conditions are not met. Discount rates are determined using Company specific incremental borrowing rates, which represent the rate of interest that it would pay to borrow on a fully collateralized basis over a similar term. Right-of-use lease assets are included in other assets, net other liabilities, net Company's Consolidated Balance Sheets. Revenue Recognition The primary source of revenue for the Company is generated through its leasing arrangements with its tenants which is accounted for under ASC Topic 842, or through notes with its borrowers which is covered under ASC 310. The Company's rental income and interest income are recognized based on contractual arrangements with its tenants and borrowers. From the inception of a lease, if collection of substantially all of the lease payments is probable for a tenant, then rental income is recognized as earned over the life of the lease agreement on a straight-line basis. Recognizing rental revenue on a straight-line basis for leases may result in recognizing revenue in amounts more or less than amounts currently due from tenants. If management determines that collection of substantially all of a lease’s payments is not probable, it will revert to recognizing such lease payments at the lesser of cash collected, lease income reflected on a straight-line basis, or another systematic basis plus variable rent when it becomes accruable and will reverse any recorded receivables related to that lease. In the event that management subsequently determines collection of substantially all of that lease’s receivable is probable, management will reinstate and record all such receivables for the lease in accordance with the lease terms. The Company maintains a general allowance for its lease receivables that the Company has determined are probable of collection. During December 31, 2023 and 2022, the Company had a general allowance for lease receivables of $0.3 million and $0.1 million, respectively. The Company recognizes operating expense recoveries in the period that applicable expenses are incurred. Other variable payments, such as late fees and sales tax are recognized based on the contractual terms of its leases. Income received but not yet earned is deferred until such time it is earned. Allowance for Credit Losses Credit losses on financial instruments are measured using an expected credit loss ("CECL") model in evaluating the collectability of notes receivable and other financial instruments. The CECL impairment model requires an estimate of expected credit losses, measured over the contractual life of an instrument, that considers forecasts of future economic conditions in addition to information about past events and current conditions. Under the CECL model, the Company will estimate credit losses over the entire contractual term of the instrument from the date of initial recognition of that instrument and is required to record a credit loss expense (or reversal) in each reporting period. The Company evaluates factors such as its historical credit loss experience with the borrower or similar financial assets, current economic conditions, current and expected future financial condition of the borrower as well as payment history of the borrower, along with other relevant factors for each borrower or similar instruments. At December 31, 2023 and 2022, the Company did not have any material expected credit losses and, therefore, did not record any credit losses. Stock-Based Compensation The Company's 2014 Incentive Plan, as amended (the "2014 Incentive Plan") is intended to attract and retain qualified persons upon whom, in large measure, our sustained progress, growth and profitability depend, to motivate the participants to achieve long-term company goals and to more closely align the participants’ interests with those of our other stockholders by providing them with a proprietary interest in our growth and performance. The three distinct programs under the 2014 Incentive Plan are the Second Amended and Restated Alignment of Interest Program, the Second Amended and Restated Executive Officer Incentive Program and the Amended and Restated Non-Executive Officer Incentive Program. Our executive officers, officers, employees, consultants and non-employee directors are eligible to participate in the 2014 Incentive Plan. The 2014 Incentive Plan increases, on an annual basis, the number of shares of common stock available for issuance to an amount equal to 7% of the total number of shares of the Company’s common stock outstanding on December 31 of the immediately preceding year. The 2014 Incentive Plan is administered by the Company’s compensation committee, which interprets the 2014 Incentive Plan and has broad discretion to select the eligible persons to whom awards will be granted, as well as the type, size and terms and conditions of each award, including the number of shares subject to awards and the expiration date of, and the vesting schedule or other restrictions (including, without limitation, restrictive covenants) applicable to, awards. The Company recognizes share-based payments to its directors and employees in its Consolidated Statements of Income on a straight-line basis over the shorter of the requisite service period, retirement eligibility date, or other period as deemed appropriate based on the fair value of the award on the grant date. In the event of a forfeiture, the previously recognized expense would be reversed. The Company amended its 2014 Incentive Plan and certain of its compensation programs in January 2024. See Note 16 – Subsequent Events. Intangible Assets Intangible assets with finite lives are amortized over their respective lives to their estimated residual values and are reviewed for impairment only when impairment indicators are present. Identifiable intangible assets of the Company are generally comprised of in-place and above-market lease intangible assets and below-market lease intangible liabilities, as well as deferred financing costs. In-place lease intangible assets are amortized to depreciation expense on a straight-line basis over the applicable lives of the leases. Above- and below-market lease intangibles are amortized to rental income on a straight-line basis over the applicable lives of the leases. Deferred financing costs are amortized to interest expense over the term of the related credit facility or other debt instrument using the straight-line method, which approximates amortization under the effective interest method. 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 subsidiaries to be treated as taxable REIT subsidiaries ("TRSs"), which are subject to federal and state income taxes. No provision has been made for federal income taxes for the REIT; however, the Company has recorded income tax expense or benefit for the TRSs to the extent applicable. The Company also evaluates the realizability of its deferred tax assets and will record valuation allowances if it is determined that more likely than not the asset will not be recovered. The Company intends at all times to qualify as a REIT under the Code. The Company must distribute at least 90% per annum of its REIT taxable income to its stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with generally accepted accounting principles) and meet other requirements to continue to qualify as a REIT. See further discussion in Note 15 – Other Data. The Company classifies interest and penalties related to uncertain tax positions, if any, in the Consolidated Statements of Income as a component of general and administrative expenses. No such amounts were recognized during 2023, 2022 or 2021. The Company is subject to audit by the Internal Revenue Service and by state taxing authorities for the years ended December 31, 2022, 2021, and 2020. Sales and Use Taxes The Company must pay sales and use taxes to certain state tax authorities based on rental income collected from tenants in properties located in those states. The Company is generally reimbursed for those taxes by those tenants. The Company accounts for the payments to the taxing authority and subsequent reimbursement from the tenant on a net basis, included in rental income on the Company’s Consolidated Statements of Income. Concentration of Credit Risks Our credit risks primarily relate to cash and cash equivalents, mortgage notes, if any, other notes receivable and our interest rate swaps, which are discussed below. Cash and cash equivalents are primarily held in bank accounts and overnight investments. We maintain our bank deposit accounts with large financial institutions in amounts that often exceed federally-insured limits. We have not experienced any losses in such accounts. Derivative Financial Instruments In the normal course of business, we are subject to risk from adverse fluctuations in interest rates. We have chosen to manage this risk through the use of derivative financial instruments, primarily with interest rate swaps. Counterparties to these contracts are major financial institutions. We are exposed to credit loss in the event of nonperformance by these counterparties. We do not use derivative instruments for trading or speculative purposes. Our objective in managing exposure to market risk is to limit the impact on cash flows relating to interest payments on the Company's variable rate debt. To qualify for hedge accounting, our interest rate swaps must effectively reduce the risk exposure that they are designed to hedge. In addition, at inception of a qualifying cash flow hedging relationship, the underlying transaction or transactions must be, and are expected to remain, probable of occurring in accordance with our related assertions. All of our hedges are cash flow hedges and are recognized at their fair value in the Consolidated Balance Sheets. Changes in the fair value of the derivatives are recognized in accumulated other comprehensive income. Earnings per Share Basic earnings per common share is computed by dividing net income by the weighted average common shares outstanding less issued and outstanding non-vested shares of common stock. Diluted earnings per common share is calculated by including the effect of dilutive securities.

Real Estate Investments

Real Estate Investments	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
Real Estate Investments	REAL ESTATE INVESTMENTS As of December 31, 2023, we had gross real estate investments of approximately $1.1 billion in 193 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, included in other assets on the Consolidated Balance Sheets, and two properties classified as held for sale with an aggregate amount totaling approximately $7.5 million). The Company's real estate 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 93 $ 436,962 Inpatient Rehabilitation Hospitals 8 174,772 Acute Inpatient Behavioral 5 130,528 Specialty Centers 37 117,718 Physician Clinics 30 87,311 Surgical Centers and Hospitals 10 53,449 Behavioral Specialty Facilities 9 45,051 Long-term Acute Care Hospitals 1 14,937 Total 193 $ 1,060,728 State # of Properties Gross Investment Texas 17 $ 162,706 Illinois 18 131,416 Ohio 26 113,837 Florida 25 108,631 Pennsylvania 15 58,458 All Others 92 485,680 Total 193 $ 1,060,728 Primary Tenant # of Properties Gross Investment Lifepoint Health 6 $ 105,895 US HealthVest 3 77,964 All Others (less than 4%) 184 876,869 Total 193 $ 1,060,728 Depreciation and amortization expense was $39.7 million, $32.3 million and $30.4 million, respectively, for the years ended December 31, 2023, 2022 and 2021, which is included on the Company's Consolidated Statements of Income. Depreciation and amortization is recognized on a straight-line basis over the estimated useful lives of the ass ets. The estimated useful lives of our real estate properties at December 31, 2023 are as follows: Land improvements 1 - 20 years Buildings 7 - 50 years Building improvements 4.4 - 39.8 years Tenant improvements 1.4 - 15.1 years Lease intangibles 0.8 - 13.7 years Personal property 3 -10 years 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. After rejecting the two leases noted above, 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. On November 22, 2023, the U.S. Bankruptcy Court approved GenesisCare's disclosure statement and plan of reorganization. As part of their plan of reorganization, GenesisCare is expected to assume or assign to buyers all of the Company's remaining leases with no material changes to the lease terms. The effective date of the plan of reorganization is expected to be during the first quarter of 2024; however, GenesisCare already closed on the assignment of two of the Company's leases during January 2024 with two separate buyers. GenesisCare has met substantially all of its lease payment obligations due to the Company through February 2024. 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	12 Months Ended
	Dec. 31, 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 taxes (including property taxes), insurance, maintenance and other operating costs associated with the leased property. The real estate properties were 91.1% leased, excluding real estate assets held for sale, at December 31, 2023 with a weighted average remaining lease term of approximately 6.9 years. Future Minimum Lease Payments Future minimum lease payments under the non-cancelable operating leases due the Company for the years ending December 31, as of December 31, 2023, are as follows (in thousands): 2024 $ 95,134 2025 88,670 2026 78,548 2027 71,150 2028 66,347 2029 and thereafter 340,896 $ 740,745 Customer Concentrations The Company's real estate portfolio is leased to a diverse tenant base. See Note 2 – Real Estate Investments. For the years ended December 31, 2023, 2022 and 2021, the Company had no customers that accounted for more than 10% of its consolidated total revenues. Geographic Concentrations The Company's portfolio was located in 34 states at December 31, 2023. For the year ended December 31, 2023, 39.9% of our consolidated rental income was derived from properties located in Texas (15.3%), Ohio (13.2%), and Illinois (11.4%). For the year ended December 31, 2022, 42.0% of our consolidated rental income was derived from properties located in Texas (16.4%), Ohio (12.9%) and Illinois (12.7%). For the year ended December 31, 2021, 29.5% of our consolidated rental income was derived from properties located in Texas (16.1%) and Illinois (13.4%). 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. Since the Company's initial public offering, two of the Company's tenants have exercised their purchase option. These two properties were sold in 2018 and 2021. Related to the sale of the building in 2021, the Company recorded a gain of approximately $0.2 million. The Company had an aggregate gross investment of approximately $37.2 million in ten real estate properties as of December 31, 2023 that were subject to exercisable purchase options. Straight-line rental income 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 $3.1 million, $3.4 million, and $3.6 million, respectively, for the years ended December 31, 2023, 2022 and 2021. Prepaid rent Income received but not yet earned is deferred until such time it is earned. Prepaid rent, included in other liabilities, net on the Consolidated Balance Sheets, was approximately $5.2 million and $3.9 million, respectively, at December 31, 2023 and 2022. 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 2024 $ 346 2025 356 2026 367 2027 378 2028 389 2029 and thereafter 4,821 Total undiscounted lease receivable 6,657 Discount (3,629) Lease receivable $ 3,028 During the year ended December 31, 2023, the Company recognized interest income of approximately $0.3 million related to this lease which is included in other operating interest on the Company's Consolidated Statement of Income. Lessee Accounting At December 31, 2023, the Company was obligated, as the lessee, under four non-prepaid ground leases accounted for as operating leases with expiration dates through 2076, including renewal options, and two non-prepaid ground lease accounted for as a financing lease with an expiration date 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 2024 $ 43 $ 154 2025 44 154 2026 44 154 2027 45 154 2028 46 154 2029 and thereafter 1,102 6,802 Total undiscounted lease payments 1,324 7,572 Discount (549) (4,295) Lease liabilities $ 775 $ 3,277 Other information regarding our ground leases are disclosed in the following tables. For the Year Ended December 31, (Dollars in thousands) 2023 2022 2021 Operating lease costs: Fixed rent expense $ 179 $ 177 $ 127 Financing lease costs: Amortization of right of use asset 59 53 28 Interest expense 122 122 71 Net lease costs $ 360 $ 352 $ 226 Net lease costs and location in the accompanying consolidated statements of income: Property operating expense $ 179 $ 177 $ 127 Depreciation and amortization 59 53 28 Interest expense 122 122 71 Net lease costs $ 360 $ 352 $ 226 Cash paid for amounts included in the measurement of lease liabilities: Operating leases $ 42 $ 41 $ 31 Finance leases 141 130 70 $ 183 $ 171 $ 101 Supplemental non-cash information on lease liabilities resulting from obtaining right of use assets: Right of use assets obtained in exchange for finance lease obligations — 728 1,898 $ — $ 728 $ 1,898 Year Ended December 31, 2023 2022 Operating leases: Weighted-average remaining lease term in years (including renewal options) 35.1 36.3 Weighted-average discount rate 4.0 % 4.0 % Financing leases: Weighted-average remaining lease term in years (including renewal options) 39.8 40.8 Weighted-average discount rate 4.2 % 4.2 %

Real Estate Acquisitions and Di

Real Estate Acquisitions and Dispositions	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Real Estate Acquisitions and Dispositions	REAL ESTATE ACQUISITIONS AND DISPOSITIONS 2023 Real Estate Acquisitions During the year ended December 31, 2023, the Company acquired 19 real estate properties and one land parcel adjacent to an existing property in our portfolio, in fourteen separate transactions, as detailed in the table below. Upon acquisition, the properties were 99.2% leased in the aggregate with lease expirations through 2038. Amounts recorded in revenues and net income for these properties were approximately $6.7 million and $2.0 million, respectively, and transaction costs totaling approximately $1.6 million were capitalized for the year ended December 31, 2023 relating to these property acquisitions. Location Property Type (1) Date Acquired Purchase Price Cash Consideration Real Estate Other (2) Square Footage (000's) (000's) (000's) (000's) (Unaudited) 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 Crystal Lake, IL MOB 10/06/23 4,049 2,964 3,160 (196) 17,543 Crystal Lake, IL MOB 10/06/23 3,044 3,940 4,394 (454) 30,718 $ 97,845 $ 98,897 $ 101,856 $ (2,959) 463,001 (1) MOB - Medical Office Building; IRF - Inpatient Rehabilitation Facility (2) Includes items including, but not limited to, other assets, liabilities assumed, and security deposits. The following table summarizes the estimated relative fair values of the assets acquired and liabilities assumed in the property acquisitions for the year ended December 31, 2023. Estimated Fair Value Weighted Average (In thousands) (In years) Land and land improvements $ 19,443 8.6 Building and building improvements 70,496 30.4 Intangibles: At-market lease intangibles 11,917 4.4 Above-market lease intangibles 976 5.1 Below-market lease intangibles (3,135) 5.1 Total intangibles 9,758 Accounts receivable and other assets acquired 304 Accounts payable, accrued liabilities and other liabilities acquired (798) Prorated rent, interest and operating expense reimbursement amounts collected (306) Total cash consideration $ 98,897 Assets Held for Sale During 2023, the Company committed to plans to dispose of two properties with an aggregate carrying balance of $7.5 million, consisting of $1.5 million of land and land improvements and $6.0 million of buildings and building improvements, and classified those properties as Real estate properties held for sale on the Company's Consolidated Balance Sheet. • In the second quarter of 2023, the Company committed to a plan to dispose of a property in Houston, Texas with a carrying balance of $1.1 million at December 31, 2023. The Company had incurred property damage due to vandalism at this property 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 casualty loss was approximately $1.6 million and received insurance proceeds totaling $2.3 million, resulting in a net casualty gain of approximately $0.7 million which is included in Interest and other income on the Consolidated Statements of Income. The Company had a contract to sell the property and recorded a $0.1 million impairment on the property during the third quarter as the carrying value of the property was less than the estimated fair value of the property less costs to sell. The contract to sell the property was terminated during the fourth quarter of 2023, and the Company is continuing to market this property for sale during the first half of 2024. • In the fourth quarter of 2023, the Company committed to a plan to dispose of a property in Ft. Myers, Florida with a carrying balance of $6.4 million at December 31, 2023. The lease had been rejected during the third quarter of 2023 by Genesis Care who filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code in June 2023. The Company entered into a sales contract in January 2024 and estimated that, as of December 31, 2023, the sales price less estimated costs to sell exceeded the carrying value of the property. The Company anticipates closing on the sale of this property during the second or third quarter of 2024. 2022 Real Estate Acquisitions During the year ended December 31, 2022, the Company acquired 18 real estate properties as detailed in the table below. Upon acquisition, the properties were 98.9% leased in the aggregate with lease expirations through 2037. Amounts recorded in revenues and net income for these properties were approximately $3.2 million and $1.9 million, respectively, and transaction costs totaling approximately $1.4 million were ca pitalized for the year ended December 31, 2022 relating to these property acquisitions. Location Property Type (1) Date Acquired Purchase Price Cash Consideration Real Estate Other (2) Square Footage (000's) (000's) (000's) (000's) (Unaudited) Toledo, OH MOB 03/09/22 $ 2,606 $ 2,621 $ 2,735 $ (114) 17,465 Fremont, NE MOB 03/09/22 3,232 3,224 3,443 (219) 12,850 Cincinnati, OH IRF 05/12/22 23,500 22,826 23,558 (732) 37,720 Marne, MI BSF 09/01/22 13,238 12,986 13,415 (429) 96,886 Des Moines, IA PC 09/20/22 4,272 4,313 3,818 495 17,318 Brook Park, OH MOB 11/21/22 2,200 2,187 2,256 (69) 16,802 Rockville, MD MOB 12/12/22 13,937 14,180 14,133 47 94,491 Cape Coral, FL SC 12/13/22 4,635 4,683 4,563 120 12,130 Cape Coral, FL MOB 12/13/22 400 410 394 16 2,023 Cape Coral, FL MOB 12/13/22 990 998 1,039 (41) 6,379 Fort Myers, FL MOB 12/13/22 6,520 6,583 6,143 440 22,104 Fort Myers, FL MOB 12/13/22 3,325 3,360 3,246 114 16,000 Fort Myers, FL SC 12/13/22 4,510 4,556 4,578 (22) 10,832 Fort Myers, FL SC 12/13/22 4,265 4,308 4,142 166 9,376 Fort Myers, FL MOB 12/13/22 133 139 141 (2) 1,201 Show Low, AZ MOB 12/23/22 840 841 844 (3) 4,437 Show Low, AZ MOB 12/23/22 4,122 4,105 4,170 (65) 22,410 Show Low, AZ MOB 12/23/22 4,347 4,371 4,111 260 22,400 $ 97,072 $ 96,691 $ 96,729 $ (38) 422,824 (1) PC - Physician Clinic; BSF - Behavioral Specialty Facility; IRF - Inpatient Rehabilitation Facility; MOB - Medical Office Building; SC - Specialty Center (2) Includes items including, but not limited to, other assets, above and below market intangibles, liabilities assumed, and security deposits. The following table summarizes the estimated relative fair values of the assets acquired and liabilities assumed in the property acquisitions for the year ended December 31, 2022. Estimated Fair Value Weighted Average (In thousands) (In years) Land and land improvements $ 19,405 10.1 Building and building improvements 68,268 34.5 Intangibles: At-market lease intangibles 9,056 6.6 Above-market lease intangibles 1,977 6.3 Below-market lease intangibles (649) 5.3 Total intangibles 10,384 Accounts receivable and other assets acquired 800 Accounts payable, accrued liabilities and other liabilities acquired (2,015) Financing right-of-use lease asset acquired 728 Financing lease liability acquired (308) Prorated rent, interest and operating expense reimbursement amounts collected (571) Total cash consideration $ 96,691

Debt, net

Debt, net	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt, net	DEBT, NET The table below details the Company's debt, net as of December 31, 2023 and December 31, 2022. Balance as of December 31, (Dollars in thousands) 2023 2022 Maturity Dates Credit Facility: Revolving Credit Facility $ 50,000 $ — 3/26 A-3 Term Loan, net 74,730 74,609 3/26 A-4 Term Loan, net 124,522 124,409 3/28 A-5 Term Loan, net 149,189 149,059 3/30 Mortgage Note Payable, net 4,815 4,920 5/24 $ 403,256 $ 352,997 Credit Facility The Company's third amended and restated credit agreement, as amended (the "Credit Facility") is 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 Credit Facility provides for a $150.0 million revolving credit facility (the "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 of the Revolving Credit Facility, 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 a 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. Loans under the Credit Facility are interest only with principal amounts due as of each facility's applicable maturity date. Amounts outstanding under the Revolving Credit Facility 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 (7.06% at December 31, 2023). 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 $50.0 million outstanding under the Revolving Credit Facility with a borrowing capacity remaining of approximately $100.0 million at December 31, 2023. Amounts outstanding under the Term Loans 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 1.65% to 2.30%, plus a simple SOFR adjustment equal to 0.10% per annum, or (ii) a base rate plus 0.65% 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 December 31, 2023, the Company had $350.0 million outstanding under the Term Loans which had a fixed weighted average interest rate under the swaps of approximately 4.3%. In March 2024, two swaps will mature and will be replaced by two forward-starting swaps currently in place and will increase the fixed weighted average interest rate under the swaps to approximately 4.4%. See Note 6 – Derivative Financial Instruments for more details on the interest rate swaps. 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 December 31, 2023. Mortgage Note Payable

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 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 December 31, 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, which mature between 2024 and 2030, at the maturity dates of the associated term loans (see Note 5 – Debt, net for additional details). Two forward-starting interest rate swaps for notional amounts totaling $50.0 million, will become effective March 29, 2024, when two currently active swaps for notional amounts totaling $50.0 million mature. 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 Consolidated Balance Sheets as of December 31, 2023 and 2022. Asset Derivatives Fair Value Liability Derivatives Fair Value (in thousands) 2023 2022 Balance Sheet Classification 2023 2022 Balance Sheet Classification Interest rate swaps $ 16,417 $ 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 $8.4 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 Loss 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 years ended December 31, 2023 and 2022. For the Year Ended December 31, (Dollars in thousands) 2023 2022 Amount of unrealized gain recognized in OCI on derivative $ 3,803 $ 27,380 Amount of (gain) loss reclassified from AOCI into interest expense $ (10,053) $ 267 Total interest expense presented in the Consolidated Statements of Income in which the effects of the cash flow hedges are recorded $ 17,792 $ 11,873 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 December 31, 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 Consolidated Balance Sheets. Offsetting of Derivative Assets (as of December 31, 2023) Gross Amounts Not Offset in the Consolidated Balance Sheets (in thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts of Assets in the Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ 16,417 $ — $ 16,417 $ — $ — $ 16,417 Offsetting of Derivative Liabilities (as of December 31, 2023) Gross Amounts Not Offset in the Consolidated Balance Sheets (in thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts of Liabilities in the 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 Consolidated Balance Sheets (in thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts of Assets in the 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 Consolidated Balance Sheets (in thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts of Liabilities in the Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ — $ — $ — $ — $ — $ — Credit-risk-related Contingent Feature s As of December 31, 2023, the Company did not have any derivatives in a net liability position, and 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	12 Months Ended
	Dec. 31, 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 years ended December 31, 2023, 2022 and 2021: For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Balance, beginning of period 25,897 24,983 23,888 Issuance of common stock 1,385 600 823 Restricted stock issued 361 318 273 Restricted stock withheld and forfeited (30) (4) (1) Balance, end of period 27,613 25,897 24,983 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, Fifth Third Securities, Inc., Janney Montgomery Scott LLC, and Robert W. Baird & Co. Incorporated, as Sales Agents (each, an “Agent”, and, 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, exclusive of shares of Common Stock sold under its prior agreements with our Agents. 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 for the years ended December 31, 2023, 2022, and 2021 is detailed in the table below. As of December 31, 2023, the Company had approximately $433.9 million remaining that may be issued under the ATM Program. For the Year Ended December 31, (Shares in thousands, except per share amounts) 2023 2022 2021 Shares issued 1,385 600 823 Net proceeds received (in millions) $44.2 $20.5 $38.4 Average gross sales price per share $32.56 $34.94 $47.68 Automatic Shelf Registration Statement On November 2, 2022, the Company filed an automatic shelf registration statement on Form S-3 with the SEC. The registration statement is for an indeterminate number of securities and is effective for three years. Under this registration statement, the Company has the capacity to offer and sell from time to time various types of securities, including common stock, preferred stock, depository shares, rights, debt securities, warrants and units. Dividends Declared During 2023, the Company declared and paid dividends totaling $1.805 per common share as shown in the table below. Declaration Date Record Date Date Paid Amount Per Share February 9, 2023 February 21, 2023 March 1, 2023 $0.4475 April 27, 2023 May 12, 2023 May 26, 2023 $0.4500 July 27, 2023 August 11, 2023 August 25, 2023 $0.4525 October 26, 2023 November 9, 2023 November 24, 2023 $0.4550 During 2022, the Company declared and paid dividends totaling $1.765 per common share as shown in the table below. Declaration Date Record Date Date Paid Amount Per Share February 10, 2022 February 22, 2022 March 1, 2022 $0.4375 April 28, 2022 May 13, 2022 May 27, 2022 $0.4400 July 28, 2022 August 12, 2022 August 26, 2022 $0.4425 October 27, 2022 November 10, 2022 November 25, 2022 $0.4450

Income Per Common Share

Income Per Common Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Income Per Common Share	INCOME PER COMMON SHARE The following table sets forth the computation of basic and diluted income per common share. Year Ended December 31, (Dollars and shares in thousands, except per share data) 2023 2022 2021 Net income $ 7,714 $ 22,019 $ 22,492 Participating securities' share in earnings (2,619) (2,847) (2,314) Net income, less participating securities' share in earnings $ 5,095 $ 19,172 $ 20,178 Weighted Average Common Shares Outstanding Weighted average common shares outstanding 26,649 25,218 24,583 Unvested restricted shares (1,447) (1,587) (1,320) Weighted average common shares outstanding–Basic 25,202 23,631 23,263 Weighted average common shares–Basic 25,202 23,631 23,263 Dilutive potential common shares — — — Weighted average common shares outstanding –Diluted 25,202 23,631 23,263 Basic Income per Common Share $ 0.20 $ 0.81 $ 0.87 Diluted Income per Common Share $ 0.20 $ 0.81 $ 0.87

Stock Incentive Plans

Stock Incentive Plans	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock Incentive Plans	STOCK INCENTIVE PLANS 2014 Incentive Plan The 2014 Incentive Plan authorizes the Company to award shares equal to 7% of the total number of shares of the Company’s common stock outstanding on December 31 of the immediately preceding year, or 1,812,822 shares of common stock (the "Plan Pool"), for 2023, to its employees and directors. The 2014 Incentive Plan will continue until terminated by the Company's Board of Directors (the "Board") or March 31, 2024. As of December 31, 2023, the Company had issued a total of 1,497,205 restricted shares under the Incentive Pool for compensation-related awards to its employees and directors, with 315,617 authorized shares remaining which had not been issued. Shares issued under the 2014 Incentive Plan are generally subject to long-term, fixed vesting periods of 3 to 8 years. If an employee or director voluntarily terminates his or her relationship with the Company or is terminated for cause before the end of the vesting period, the shares are forfeited, at no cost to the Company. Once the shares have been granted, the recipient of the shares has the right to receive dividends and the right to vote the shares. Alignment of Interest Program The Second Amended and Restated Alignment of Interest Program (the “Second Alignment of Interest Program”) authorizes the Company to issue 1,000,000 shares of the Company’s common stock to its employees and directors in lieu of the employee's or director's cash compensation (the "Program Pool"), at their election. As of December 31, 2023, the Company had issued a total of 666,335 restricted shares under the Program Pool in lieu of cash compensation to its employees and directors, with 333,665 authorized shares remaining which had not been issued. The Company's Second Alignment of Interest Program is designed to provide the Company's employees and directors with an incentive to remain with the Company and to incentivize long-term growth and profitability. Under the Second Alignment of Interest Program, employees may elect to defer up to 100% of their base salary and other compensation and directors may elect to defer up to 100% of their director fee. The number of shares granted will be increased through a Company match depending on the length of the vesting period selected by the employee or director. Employees may select vesting periods of 3 years, 5 years, or 8 years, with a 30%, 50%, and 100% Company match, respectively. Directors may select vesting periods of 1 year, 2 years, or 3 years, with a 20%, 40%, or 60% Company match, respectively. Officer Incentive Programs The Company has a Second Amended and Restated Executive Officer Incentive Program and an Amended and Restated Non-Executive Officer Incentive Program (the "Officer Incentive Programs") under the Incentive Plan which are designed to provide incentives to the Company's officers that are designed to reward its officers for individual, as well as Company performance in the form of cash or restricted stock. Company performance will be based on performance targets, which may include targets such as funds from operations ("FFO"), dividend payout percentages, as well as the Company's relative total stockholder return performance over three-year and five-year periods, measured against the Company's peer group, as determined by the Company's Board of Directors each year. The officers may elect, in the year prior to an award, to receive awards under the Officer Incentive Programs in cash or restricted stock, as allowed within the applicable Officer Incentive Programs, as well as a vesting period as discussed under the Second Alignment of Interest Program above. Shares of common stock issued under the Officer Incentive Programs are issued under either the Plan Pool or Program Pool. The 2014 Incentive Plan and certain of the programs discussed above were amended in January 2024. See Note 16 – Subsequent Events. Summary A summary of the activity under the Incentive Plan and related information for the years ended December 31, 2023, 2022, and 2021 is included in the table below. Year Ended December 31, (dollars and shares in thousands, except per share amounts) 2023 2022 2021 Stock-based awards, beginning of year 1,708 1,416 1,164 Stock in lieu of compensation 141 116 96 Stock awards 220 202 177 Total Granted 361 318 273 Vested (1) (692) (22) (20) Forfeited (3) (4) (1) Stock-based awards, end of year 1,374 1,708 1,416 ___________ (1) Vested shares for the twelve months ended December 31, 2023 included the accelerated vesting of 625 shares upon the passing of our former CEO and President. Weighted average grant date fair value, per share, of: Stock-based awards, beginning of year $ 37.43 $ 33.89 $ 31.04 Stock-based awards granted during the year $ 36.78 $ 41.45 $ 48.48 Stock-based awards vested during the year $ 35.38 $ 23.54 $ 26.52 Stock-based awards forfeited during the year $ 43.83 $ 41.87 $ 49.81 Stock-based awards, end of year $ 36.45 $ 37.43 $ 33.89 Grant date fair value of shares granted during the year $ 13,220 $ 13,232 $ 13,251 The Company had nonvested stock-based compensation that had not yet been recognized of approximately $26.8 million and $33.7 million, respectively, at December 31, 2023 and 2022. The vesting periods for the non-vested shares granted during 2023 ranged from 3 to 8 years with a weighted-average amortization period remaining as of December 31, 2023 of approxi mately 5.82 years. Co mpensation expense recognized during the years ended December 31, 2023, 2022, and 2021 from the amortization of the value of shares over the vesting period was approximately $20.0 million, $9.4 million and $7.2 million, respectively, which are included in general and administrative expenses on the consolidated statements of income. 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 vested or been fully amortized. In accordance with the terms of his employment agreement, the Company accelerated the vesting of these shares and accelerated the unamortized remaining balance of deferred compensation related to these unvested shares, recognizing an additional $11.8 million of amortization expense in 2023. 401(k) Plan The Company maintains a 401(k) plan that allows eligible employees to defer salary, subject to certain limitations imposed by the Internal Revenue Code. The Company provides a matching contribution of up to 3.5% of each eligible employee’s salary, subject to certain limitations. The Company’s matching contributions were approximately $0.2 million for the year ended December 31, 2023, and $0.1 million for each of the years ended December 31, 2022 and 2021.

Other Assets, net

Other Assets, net	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets, net	OTHER ASSETS, NET Other assets on the Company's Consolidated Balance Sheets as of December 31, 2023 and 2022 are detailed in the table below. December 31, (Dollars in thousands) 2023 2022 Notes receivable $ 30,775 $ 32,705 Straight-line rent receivables 18,481 15,429 Fair value of interest rate swaps 16,417 22,667 Accounts receivable 4,645 2,679 Sales-type lessor receivable 3,028 3,035 Above-market intangible assets, net 2,645 2,399 Financing lease right-of-use assets 2,486 2,545 Leasing commissions, net 2,312 1,848 Prepaid assets 1,203 980 Operating lease right of use assets 729 759 Other 684 496 Deferred financing costs, net 471 683 Deferred tax asset — 306 $ 83,876 $ 86,531 The Company's notes receivable include the following notes receivable. Interest on these notes is included in Other operating interest on the Company's Consolidated Statements of Income. • At December 31, 2023, notes receivable included a term loan with an original balance of $15.0 million, 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, which had a carrying value of $6.0 million at December 31, 2023, is being repaid in equal monthly installments of $250,000 through the maturity date of December 31, 2025 and bears interest at 9% per annum. • At December 31, 2023, notes receivable also included a $17.0 million term loan and a $5.4 million revolving credit facility, 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 for the first year and then equal monthly installments of principal payments due beginning March 31, 2024. The term loan facility matures on December 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 3% non-cash interest that is due and payable upon the earlier of the repayment or maturity of each note. • At December 31, 2023, notes receivable also included a $2.3 million revolving credit facility with a borrower. 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 3% non-cash interest 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 impact in the activities 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 December 31, 2023 are summarized in the table below. Classification Carrying Amount (in thousands) Maximum Exposure to Loss (in thousands) Note receivable (term loan) $6,000 $6,000 Note receivable (term loan) $17,000 $17,000 Note receivable (revolving credit facility) $5,435 $5,435 Note receivable (revolving credit facility) $2,340 $2,340

Other Liabilities, net

Other Liabilities, net	12 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Other Liabilities, net	OTHER LIABILITIES, NET Other liabilities on the Company's Consolidated Balance Sheets as of December 31, 2023 and 2022 are detailed in the table below. December 31, (Dollars in thousands) 2023 2022 Prepaid rent $ 5,378 $ 3,853 Security deposits 3,765 5,766 Below-market lease intangibles, net 3,188 1,075 Financing lease liability 3,277 3,279 Operating lease liability 775 786 Other 485 478 $ 16,868 $ 15,237

Intangible Assets and Liabiliti

Intangible Assets and Liabilities	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Liabilities	INTANGIBLE ASSETS AND LIABILITIES The Company has deferred financing costs and various real estate acquisition lease intangibles included in its Consolidated Balance Sheets as of December 31, 2023 and 2022 as detailed in the table below. The Company did not have any indefinite lived intangible assets or liabilities as of December 31, 2023 and 2022. Gross Balance at Accumulated Amortization at December 31, Weighted (Dollars in thousands) 2023 2022 2023 2022 Balance Sheet Classification Deferred financing costs-Revolving Credit Facility $ 3,042 $ 3,042 $ 2,571 $ 2,359 2.3 Other assets, net Deferred financing costs-Term Loans 2,551 2,551 993 627 5.0 Debt, net Deferred financing costs-Mortgage Note Payable 108 108 101 81 0.3 Debt, net Above-market lease intangibles 3,913 2,938 1,268 539 4.9 Other assets, net Below-market lease intangibles (5,521) (2,779) (2,333) (1,703) 4.7 Other liabilities, net At-market lease intangibles 102,870 93,618 74,865 66,320 4.2 Real estate properties Total intangibles $ 106,963 $ 99,478 $ 77,465 $ 68,223 4.6 For the years ended December 31, 2023, 2022 and 2021, the Company recognized approximately $11.5 million, $9.0 million, and $9.4 million, respectively, of net intangible amortization expense. Net intangible amortization expense for the year ended December 31, 2023 included the write-off of intangibles related to the two Genesis Care leases rejected during 2023 totaling $1.5 million. Expected future amortization, net, for the next five years of the Company's intangible assets and liabilities, in place as of December 31, 2023 are included in the table below. (in thousands) Amortization, net 2024 $ 9,891 2025 $ 7,968 2026 $ 4,718 2027 $ 2,322 2028 $ 1,516

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Tenant Improvements The Company may provide tenant improvement allowances in new or renewal leases for the purpose of refurbishing or renovating tenant space. The Company may also assume tenant improvement obligations included in leases acquired in its real estate acquisitions. As of December 31, 2023 and 2022, the Company had approximately $10.9 million and $12.0 million, respectively, in commitments for tenant improvements. At December 31, 2023 six of these projects, totaling $3.5 million, represented redevelopment projects of the buildings into different healthcare uses backed by long term leases. At December 31, 2022 five of these projects, totaling $2.9 million, represented redevelopment projects of the buildings into different healthcare uses backed by long term leases. Capital Improvements The Company has entered into contracts with various vendors for various capital improvement projects related to its portfolio. As of December 31, 2023 and 2022, the Company had commitments of approximately $5.8 million and $4.2 million, respectively, in commitments for capital improvement projects. Legal Proceedings The Company is not aware of any pending or threatened litigation that, if resolved against the Company, would have a material adverse effect on the Company's Consolidated Financial Statements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 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. Notes receivable - The fair value is estimated using cash flow analyses which are based on an assumed market rate of interest and are classified as Level 2 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 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 in the hierarchy. The table below details the fair values and carrying values for our mortgage note and notes receivable and interest rate swaps at December 31, 2023 and 2022 using Level 2 inputs. December 31, 2023 December 31, 2022 (Dollars in thousands) Carrying Value Fair Value Carrying Value Fair Value Notes receivable $ 30,775 $ 31,199 $ 32,705 $ 32,716 Interest rate swap asset $ 16,417 $ 16,417 $ 22,667 $ 22,667 Mortgage note payable $ 4,821 $ 4,791 $ 4,947 $ 4,761

Other Data

Other Data	12 Months Ended
	Dec. 31, 2023
Other Data [Abstract]
Other Data	OTHER DATA Taxable Income The Company has elected to be taxed as a REIT, as defined under the Code. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that it currently distribute at least 90% of its taxable income to its stockholders. The Company has also elected that two of its subsidiaries be treated as a TRS, which are subject to federal and state income taxes. All entities other than the TRS subsidiaries are collectively referred to as "the REIT" within this Note 15 – Other Data. The REIT generally will not be subject to federal income tax on taxable income it distributes currently to its stockholders. Accordingly, no provision for federal income taxes for the REIT has been made in the accompanying Consolidated Financial Statements; however, the Company may record income tax expense or benefit for its TRSs to the extent applicable. If the REIT fails to qualify as a REIT for any taxable year, then it will be subject to federal income taxes at regular corporate rates, including any applicable alternative minimum tax, and may not be able to qualify as a REIT for four subsequent taxable years. Even if the REIT continues to qualify as a REIT, it may be subject to certain state and local taxes on its income and property and to federal income and excise tax on its undistributed taxable income. Income tax expense and state income tax payments, net of refunds, are as follows for the years ended December 31, 2023, 2022, and 2021. Year Ended December 31, (Dollars in thousands) 2023 2022 2021 Current $ 106 $ 97 $ 129 Deferred 306 41 167 Total income tax expense $ 412 $ 138 $ 296 Income tax payments, net of refunds $ 80 $ 120 $ 109 Income tax expense primarily relates to permanent differences between federal, state and local taxable income resulting from certain state and local jurisdictions wholly or partially disallowing the deduction for dividends paid allowed at the federal level and temporary differences resulting from the bases of assets and liabilities of the Company's TRSs for financial reporting purposes and the bases of those assets and liabilities for income tax purposes. The tax effect of temporary differences included in the net deferred tax assets at December 31, 2023 and 2022 are as follows: December 31, (Dollars in thousands) 2023 2022 Deferred tax assets Deferred stock-based compensation $ 5,709 $ 7,008 Net operating losses 1,987 1,349 Depreciation and amortization 45 35 Prepaid expenses 15 22 Total deferred tax assets 7,756 8,414 Valuation allowance (2,141) (1,406) Deferred tax assets, net 5,615 7,008 Deferred tax liabilities Deferred administrative services fee (5,613) (6,702) Other (2) — Deferred tax liabilities (5,615) (6,702) Net Deferred tax assets $ — $ 306 The Company has federal net operating loss carryforwards in the aggregate amount of $0.3 million that expire in 2036 and 2037 and in the aggregate amount of $7.3 million that do not expire. Additionally, the Company has state net operating loss carryforwards in the aggregate amount of $7.7 million that expire from 2031 to 2038. The following table reconciles the Company’s net income to taxable income for the years ended December 31, 2023, 2022 and 2021. Year Ended December 31, (Dollars in thousands) 2023 2022 2021 Net income $ 7,714 $ 22,019 $ 22,492 Reconciling items to taxable income: Depreciation and amortization 15,773 11,493 11,121 Gain on sale of real estate (647) — 36 Straight-line rent (3,157) (3,265) (3,522) Receivable allowance 250 — (25) Stock-based compensation (7,801) 5,681 3,872 Sec. 162(m) compensation disallowance 22,199 — — Deferred rent 1,351 61 1,196 Deferred income taxes 306 41 166 Other (135) (17) (68) 28,139 13,994 12,776 Taxable income (1) $ 35,853 $ 36,013 $ 35,268 Dividends paid (2) $ 45,439 $ 41,642 $ 40,092 __________ (1) Before REIT dividends paid deduction. (2) Net of dividends paid on restricted stock included as a reconciling item. Characterization of Distributions (unaudited) Earnings and profits (as defined under the Code), the current and accumulated amounts of which determine the taxability of distributions to stockholders, vary from net income attributable to common stockholders and taxable income because of different depreciation recovery periods, depreciation methods, and other items. Distributions in excess of earnings and profits generally constitute a return of capital. The following table shows the characterization of the distributions on the Company's common stock for the years ended December 31, 2023, 2022 and 2021. No preferred shares have been issued by the Company and no dividends have been paid to date relating to preferred shares. 2023 2022 2021 Per Share % Per Share % Per Share % Common stock: Ordinary income $ 1.569469 87.0 % $ 1.575094 89.2 % $ 1.537982 89.2 % Return of capital $ 0.235531 13.0 % $ 0.189906 10.8 % $ 0.175047 10.1 % Capital gain $ — — % $ — — % $ 0.011971 0.7 % Common stock distributions $ 1.805000 100.0 % $ 1.765000 100.0 % $ 1.725000 100.0 %

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Dividend Declared On February 8, 2024, the Company’s Board of Directors declared a quarterly common stock dividend in the amount of $0.4575 per share. The dividend is payable on March 1, 2024 to stockholders of record on February 20, 2024. Subsequent Acquisition Subsequent to December 31, 2023, the Company acquired one long term acute care hospital (LTACH) for a purchase price of approximately $6.5 million and cash consideration of approximately $6.6 million. Upon acquisition, the property was 100.0% leased with a lease expiration in 2039. Adoption of New 2024 Compensation Plans and RSU Issuances On January 2, 2024, the Company's Board adopted a fourth amendment to the 2014 Incentive Plan to provide for the award of restricted stock units ("RSUs"). The Board also approved and adopted the Third Amended and Restated Alignment of Interest Program (the “Third Alignment of Interest Program”), which supersedes the Company’s Second Amended and Restated Alignment of Interest Program. The Third Alignment of Interest Program implements (i) a maximum elective deferral percentage amount of 50% of compensation allowed to be deferred and applied to the acquisition of restricted stock for certain participants in the program who have written employment agreements (“Affected Participants”), and (ii) a limit on the duration of the restriction period selected by the Affected Participants in relation to their Retirement Eligibility (as defined in their employment agreements). The changes under the Third Alignment of Interest Program are effective (i) beginning January 1, 2024 for salary and other compensation deferrals and (ii) starting with performance periods commencing on and after July 1, 2024 for cash bonus deferrals. Further, the Board approved and adopted the Third Amended and Restated Executive Officer Incentive Program (the “Third Executive Officer Incentive Program”), which supersedes the Company’s Second Amended and Restated Executive Officer Incentive Program (other than with respect to individual performance awards (“IPA”) and company performance awards (“CPA”) for the performance period running from July 1, 2023 to June 30, 2024). The Third Executive Officer Incentive Program provides for IPA, CPA, and three-year long term incentive plan (“LTIP”) awards consisting of RSUs. On January 4, 2024, the Company granted the following performance-based and time-based RSU's to its executive officers under the Third Executive Officer Incentive Program: Absolute TSR Performance-based RSUs (1) Relative TSR Performance-based RSUs (1) Time-based Number of RSUs granted 56,561 43,433 33,623 __________ (1) The number of Performance-based RSUs granted were based on target levels. Actual number of shares granted will be based on performance at the end of the performance period which is June 30, 2026. (2) The number of Time-based RSUs granted were based on target levels. One-third of these RSUs will vest on each of June 30, 2024, 2025 and 2026. Restricted Stock Issuances On January 12, 2024, pursuant to the 2014 Incentive Plan and the Third Alignment of Interest Program, the Company granted 79,533 shares of restricted common stock to its employees, in lieu of salary, that will cliff vest between 3 and 8 years. Of the shares granted, 43,292 shares of restricted stock were granted in lieu of compensation from the Program Pool and 36,241 shares of restricted stock were awards granted from the Plan Pool. Also, on January 12, 2024, pursuant to the 2014 Incentive Plan and the Non-Executive Officer Incentive Program, the Company granted 10,159 shares of restricted stock to certain employees that will cliff vest in 5 years.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II - Valuation and Qualifying Accounts for the years ended December 31, 2023, 2022 and 2021 (Dollars in thousands) Additions Description Balance at Charged to Charged to Uncollectible Balance at 2023 Accounts receivable allowance $ 75 $ 250 $ — $ — $ 325 2022 Accounts receivable allowance $ 75 $ 9 $ — $ (9) $ 75 2021 Accounts receivable allowance $ 100 $ (25) $ — $ — $ 75

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	Schedule III - Real Estate and Accumulated Depreciation at December 31, 2023 (Dollars in thousands) Land and Land Improvements Buildings, Improvements, and Lease Intangibles Property Type Number State Initial Costs Total Initial Costs Total Personal Total Accumulated Encumbrances (Principal balance) Date Original Medical office buildings 93 AL, AZ, CA, CO, CT, FL, GA, IA, IL, KS, KY, LA, MD, MI, MS, NE, NJ, NV, NY, OH, PA, SC, TN, TX, VA $ 69,950 $ 2,873 $ 72,823 $ 317,305 $ 43,816 $ 361,121 $ — $ 433,944 $ 97,265 $ — 2015 - 2023 1880 - 2015 Acute inpatient behavioral 5 IL, MA, WA, WV 10,720 — 10,720 119,414 393 119,807 — 130,527 16,496 4,821 2016 - 2020 1920 - 2017 Inpatient rehabilitation facilities 8 AR, OK, TX 17,653 — 17,653 157,120 — 157,120 — 174,773 12,076 — 2019 - 2023 2012 - 2023 Specialty centers 37 AL, CA, CO, FL, GA, IL, MA, MD, NC, NV, OH, OK, PA, RI, TN, VA, WV 13,498 192 13,690 95,390 2,759 98,149 — 111,839 25,796 — 2015 - 2022 1956 - 2018 Physician clinics 30 CA, CT, FL, IA, IL, KS, OH, PA, RI, TX, VA, WI 12,062 502 12,564 71,721 3,025 74,746 — 87,310 24,551 — 2015 - 2022 1912 - 2020 Surgical centers and hospitals 10 AZ, IL, LA, MI, OH, PA, TX 3,789 114 3,903 43,134 5,297 48,431 — 52,334 14,350 — 2015 - 2018 1970 - 2004 Behavioral specialty facilities 9 IN, MI, MS, OH 4,717 26 4,743 39,629 680 40,309 — 45,052 4,899 — 2015 - 2022 1961 - 2020 Long-term acute care hospitals 1 IN 523 — 523 14,405 9 14,414 — 14,937 4,498 — 2017 1978 Total Real Estate 193 132,912 3,707 136,619 858,118 55,979 914,097 — 1,050,716 199,931 4,821 Sales-type lease — (87) — (87) (3,401) — (3,401) — (3,488) — — Corporate property — — — — 2,011 709 2,720 299 3,019 879 — Total Properties 193 $ 132,825 $ 3,707 $ 136,532 $ 856,728 $ 56,688 $ 913,416 $ 299 $ 1,050,247 $ 200,810 $ 4,821 (1) Total properties as of December 31, 2023 have an estimated aggregate total c ost of $1.0 billion (unaudited ) for federal income tax purposes. (2) Excludes real estate properties held for sale as of December 31, 2023. (3) Depreciation is provided for on a straight-line basis on land improvements over 1 to 20 years, buildings over 7 to 50 years, building improvements over 4.4 to 39.8 years, tenant improvements over 1.4 to 15.1 years, lease intangibles over 0.8 to 13.7 years, and personal property over 3 to 10 years. (4) A reconciliation of Total Property and Accumulated Depreciation for the years ended December 31, 2023, 2022, and 2021 is provided below. Year Ended December 31, 2023 Year Ended December 31, 2022 Year Ended December 31, 2021 (Dollars in thousands) Total Property Accumulated Total Property Accumulated Total Property Accumulated Beginning Balance $ 943,167 $ 165,341 $ 834,085 $ 133,056 $ 735,359 $ 102,899 Acquisitions 101,856 2,055 96,729 1,034 90,385 2,740 Other improvements 18,561 37,580 12,353 31,251 9,520 27,636 Retirements, dispositions, and transfer to assets held for sale: Real estate (13,337) (4,166) — — (1,179) (219) Ending Balance $ 1,050,247 $ 200,810 $ 943,167 $ 165,341 $ 834,085 $ 133,056

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 7,714	$ 22,019	$ 22,492

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 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)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation Our Consolidated Financial Statements include the accounts of the Company, its wholly-owned subsidiaries, and may also include joint ventures, partnerships and variable interest entities, or VIEs, where the Company controls the operating activities. Management must make judgments regarding the Company's level of influence or control over an entity and whether or not the Company is the primary beneficiary of a VIE. Consideration of various factors include, but is not limited to, the Company's ability to direct the activities that most significantly impact the entity's governing body, the size and seniority of the Company's investment, and the Company's ability to replace the manager and/or liquidate the entity. Management's ability to correctly assess its influence or control over an entity when determining the primary beneficiary of a VIE affects the presentation of these entities in the Company's Consolidated Financial Statements. If it is determined that the Company is the primary beneficiary of a VIE, the Company's Consolidated Financial Statements would consolidate the VIE rather than the Company's pro rata results of its variable interest in the VIE. Untimely or inaccurate financial information provided to the Company or deficiencies in the VIE's internal control over financial reporting could impact the Company's Consolidated Financial Statements and its own internal control over financial reporting. See Note 10 – Other Assets, net regarding VIEs identified by the Company related to its notes receivable.
Use of Estimates in the Consolidated Financial Statements	Use of Estimates in the Consolidated Financial Statements Preparation of the Consolidated Financial Statements in accordance with GAAP requires management to make estimates and assumptions that affect amounts reported in the Consolidated Financial Statements and accompanying notes, including, among others, estimates related to impairment assessments, purchase price allocations, valuation of properties held for sale, and valuation of financial instruments. Actual results may materially differ from those estimates.
Segment Reporting	Segment Reporting The Company acquires and owns, or finances, healthcare-related real estate properties that are leased to hospitals, doctors, healthcare systems or other healthcare service providers. The Company is managed as one reporting unit, rather than multiple reporting units, for internal reporting purposes and for internal decision-making. Therefore, the Company discloses its operating results in a single segment.
Cash and Cash Equivalents	Cash, Cash Equivalents and Restricted Cash
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 amount approximates fair value due to the short-term maturity of these investments.
Real Estate Properties	Real Estate Properties Real estate property acquisitions are accounted for as a business combination or an asset acquisition. An acquisition accounted for as a business combination is recorded at fair value and related closing costs are expensed as incurred. An acquisition accounted for as an asset acquisition is recorded at its purchase price, inclusive of acquisition costs, which is allocated among the acquired assets and assumed liabilities based upon their relative fair values at the date of acquisition. The Company expects that substantially all of its acquisitions will be accounted for as asset acquisitions. The allocation of real estate property acquisitions may include land and land improvements, building and building improvements, and identified intangible assets and liabilities ( which can include above- and below-market leases, in-place leases, and tenant relationships) based on the evaluation of information and estimates available at that date, and we allocate the purchase price based on these assessments. We make estimates of the acquisition date fair value of the acquired tangible and intangible assets and assumed liabilities using information obtained from multiple sources as a result of pre-acquisition due diligence, tax records, and other sources, including third-party valuations. Based on these estimates, we recognize the acquired assets and assumed liabilities at their relative fair values for asset acquisitions. The fair value of tangible property assets acquired considers the value of the property as if vacant determined by a combination of comparable sales, replacement cost, income valuation approach and other relevant data. The determination of fair value involves the use of significant judgment and estimation. We value land based on various inputs, which may include internal analysis of recently acquired properties, existing comparable properties within our portfolio, or third party appraisals or valuations based on comparable sales. In recognizing identified intangible assets and liabilities of an acquired property, the value of above- or below-market leases is estimated based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between contractual amounts to be received pursuant to the leases and an estimate of market lease rates measured over the remaining term of the lease. In the case of a below-market lease, renewal options associated with that lease are evaluated to determine if the intangible should include those periods. The capitalized above-market or below-market lease intangibles are amortized as a reduction from or an addition to rental income over the estimated remaining term of the respective leases. In determining the value of in-place leases and tenant improvements, current market conditions and costs to execute similar leases to arrive at an estimate of the carrying costs during the expected lease-up period from vacant to existing occupancy are considered. Estimated carrying costs include real estate taxes, insurance, other property operating expenses, estimates of lost rental revenue during the expected lease-up periods, and costs to execute similar leases, including leasing commissions. The values assigned to in-place leases and tenant relationships are amortized over the estimated remaining term of the lease. If a lease terminates prior to its scheduled expiration, all unamortized costs related to that lease are written off.
Long-lived Asset Impairments	Long-lived Asset Impairments
Assets Held for Sale	Assets Held for Sale The Company may sell properties from time to time for various reasons, including the exercise of purchase options by our tenants. The Company classifies long-lived assets as held for sale once certain criteria have been met. The Company classifies a real estate property, or portfolio, as held for sale when: (i) management has approved the disposal, (ii) the property is available for sale in its present condition, (iii) an active program to locate a buyer has been initiated, (iv) it is probable that the property will be disposed of within one year, (v) the property is being marketed at a reasonable price relative to its fair value, and (vi) it is unlikely that the disposal plan will significantly change or be withdrawn. Following the classification of a property as “held for sale,” no further depreciation or amortization is recorded on the assets and the assets are recorded at the lower of carrying value or fair market value, less cost to sell. The Company had two properties classified as held for sale at December 31, 2023. There were no properties classified as held for sale at December 31, 2022.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. In calculating fair value, a company must maximize the use of observable market inputs, minimize the use of unobservable market inputs and disclose in the form of an outlined hierarchy the details of such fair value measurements. A hierarchy of valuation techniques is defined to determine whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. This hierarchy requires the use of observable market data when available. These inputs have created the following fair value hierarchy: • Level 1 – quoted prices for identical instruments in active markets. • Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Our interest rate swaps are valued in the market using discounted cash flow techniques. These techniques incorporate Level 1 and 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 in the hierarchy.
Lease Accounting	Lease Accounting As a lessor, we make a determination with respect to each of our leases whether they should be accounted for as sales-type, direct-financing, or operating lease. Additionally, for each of our real estate transactions involving the leaseback of the related property to the seller or affiliates of the seller, we determine whether these transactions qualify as sale and leaseback transactions under the accounting guidance in Accounting Standards Codification ("ASC") 842, Leases . For these transactions, we consider various inputs and assumptions including, but not necessarily limited to, lease terms, renewal options, discount rates, and other rights and provisions in the purchase and sale agreement, lease and other documentation to determine whether control has been transferred to the Company or remains with the lessee. A transaction involving a sale leaseback will be treated as a purchase of a real estate property if it is considered to transfer control of the underlying asset from the lessee to the Company. Criteria in determining the lease classification includes estimates and assumptions regarding the fair value of the leased facilities, minimum lease payments, effective cost of funds, the economic useful life of the facilities, the existence of a purchase option, and certain other terms in the lease agreements, as well as the amounts we expect to derive from the underlying property at the end of each lease which equals our purchase price. The lease accounting guidance requires that a sale leaseback with an option to purchase the property from the landlord at the tenant's option be accounted for as a financing or sales-type lease. We expect that most of our leases will be accounted for as operating leases. The Company has a portion of one property accounted for as a sales-type lease at December 31, 2023 and 2022 included in other assets on the Consolidated Balance Sheets. Payments received under operating leases are accounted for in the Consolidated Statements of Income as rental income for actual cash rent collected plus or minus straight-line adjustments, such as lease escalators. The Company has elected not to separate lease and nonlease components, such as common area maintenance, unless certain conditions are not met. As such, tenant reimbursements are combined with rental income on the Consolidated Statements of Income. The Company is the lessee under four non-prepaid ground leases accounted for as operating leases and two non-prepaid ground lease accounted for as financing leases. The Company has elected not to separate lease and nonlease components, such as common area maintenance, unless certain conditions are not met. Discount rates are determined using Company specific incremental borrowing rates, which represent the rate of interest that it would pay to borrow on a fully collateralized basis over a similar term. Right-of-use lease assets are included in other assets, net other liabilities, net Company's Consolidated Balance Sheets.
Revenue Recognition	Revenue Recognition The primary source of revenue for the Company is generated through its leasing arrangements with its tenants which is accounted for under ASC Topic 842, or through notes with its borrowers which is covered under ASC 310. The Company's rental income and interest income are recognized based on contractual arrangements with its tenants and borrowers. From the inception of a lease, if collection of substantially all of the lease payments is probable for a tenant, then rental income is recognized as earned over the life of the lease agreement on a straight-line basis. Recognizing rental revenue on a straight-line basis for leases may result in recognizing revenue in amounts more or less than amounts currently due from tenants. If management determines that collection of substantially all of a lease’s payments is not probable, it will revert to recognizing such lease payments at the lesser of cash collected, lease income reflected on a straight-line basis, or another systematic basis plus variable rent when it becomes accruable and will reverse any recorded receivables related to that lease. In the event that management subsequently determines collection of substantially all of that lease’s receivable is probable, management will reinstate and record all such receivables for the lease in accordance with the lease terms. The Company maintains a general allowance for its lease receivables that the Company has determined are probable of collection. During December 31, 2023 and 2022, the Company had a general allowance for lease receivables of $0.3 million and $0.1 million, respectively.
Allowance for Credit Losses	Allowance for Credit Losses
Stock-Based Compensation	Stock-Based Compensation The Company's 2014 Incentive Plan, as amended (the "2014 Incentive Plan") is intended to attract and retain qualified persons upon whom, in large measure, our sustained progress, growth and profitability depend, to motivate the participants to achieve long-term company goals and to more closely align the participants’ interests with those of our other stockholders by providing them with a proprietary interest in our growth and performance. The three distinct programs under the 2014 Incentive Plan are the Second Amended and Restated Alignment of Interest Program, the Second Amended and Restated Executive Officer Incentive Program and the Amended and Restated Non-Executive Officer Incentive Program. Our executive officers, officers, employees, consultants and non-employee directors are eligible to participate in the 2014 Incentive Plan. The 2014 Incentive Plan increases, on an annual basis, the number of shares of common stock available for issuance to an amount equal to 7% of the total number of shares of the Company’s common stock outstanding on December 31 of the immediately preceding year. The 2014 Incentive Plan is administered by the Company’s compensation committee, which interprets the 2014 Incentive Plan and has broad discretion to select the eligible persons to whom awards will be granted, as well as the type, size and terms and conditions of each award, including the number of shares subject to awards and the expiration date of, and the vesting schedule or other restrictions (including, without limitation, restrictive covenants) applicable to, awards. The Company recognizes share-based payments to its directors and employees in its Consolidated Statements of Income on a straight-line basis over the shorter of the requisite service period, retirement eligibility date, or other period as deemed appropriate based on the fair value of the award on the grant date. In the event of a forfeiture, the previously recognized expense would be reversed. The Company amended its 2014 Incentive Plan and certain of its compensation programs in January 2024. See Note 16 – Subsequent Events.
Intangible Assets	Intangible Assets
Income Taxes/Sales and Use 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 subsidiaries to be treated as taxable REIT subsidiaries ("TRSs"), which are subject to federal and state income taxes. No provision has been made for federal income taxes for the REIT; however, the Company has recorded income tax expense or benefit for the TRSs to the extent applicable. The Company also evaluates the realizability of its deferred tax assets and will record valuation allowances if it is determined that more likely than not the asset will not be recovered. The Company intends at all times to qualify as a REIT under the Code. The Company must distribute at least 90% per annum of its REIT taxable income to its stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with generally accepted accounting principles) and meet other requirements to continue to qualify as a REIT. See further discussion in Note 15 – Other Data. The Company classifies interest and penalties related to uncertain tax positions, if any, in the Consolidated Statements of Income as a component of general and administrative expenses. No such amounts were recognized during 2023, 2022 or 2021. The Company is subject to audit by the Internal Revenue Service and by state taxing authorities for the years ended December 31, 2022, 2021, and 2020. Sales and Use Taxes The Company must pay sales and use taxes to certain state tax authorities based on rental income collected from tenants in properties located in those states. The Company is generally reimbursed for those taxes by those tenants. The Company accounts for the payments to the taxing authority and subsequent reimbursement from the tenant on a net basis, included in rental income on the Company’s Consolidated Statements of Income.
Concentration of Credit Risks	Concentration of Credit Risks
Derivative Financial Instruments	Derivative Financial Instruments
Earnings per Share	Earnings per Share Basic earnings per common share is computed by dividing net income by the weighted average common shares outstanding less issued and outstanding non-vested shares of common stock. Diluted earnings per common share is calculated by including the effect of dilutive securities.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Restricted cash and equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Company's Consolidated Balance Sheets and Consolidated Statements of Cash Flows: December 31, (Dollars in thousands) 2023 2022 Cash and cash equivalents $ 3,491 $ 11,233 Restricted cash 1,142 835 Cash, cash equivalents and restricted cash $ 4,633 $ 12,068
Schedule of cash and cash equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Company's Consolidated Balance Sheets and Consolidated Statements of Cash Flows: December 31, (Dollars in thousands) 2023 2022 Cash and cash equivalents $ 3,491 $ 11,233 Restricted cash 1,142 835 Cash, cash equivalents and restricted cash $ 4,633 $ 12,068

Real Estate Investments (Tables

Real Estate Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
Schedule of real estate property investments	The Company's real estate 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 93 $ 436,962 Inpatient Rehabilitation Hospitals 8 174,772 Acute Inpatient Behavioral 5 130,528 Specialty Centers 37 117,718 Physician Clinics 30 87,311 Surgical Centers and Hospitals 10 53,449 Behavioral Specialty Facilities 9 45,051 Long-term Acute Care Hospitals 1 14,937 Total 193 $ 1,060,728 State # of Properties Gross Investment Texas 17 $ 162,706 Illinois 18 131,416 Ohio 26 113,837 Florida 25 108,631 Pennsylvania 15 58,458 All Others 92 485,680 Total 193 $ 1,060,728 Primary Tenant # of Properties Gross Investment Lifepoint Health 6 $ 105,895 US HealthVest 3 77,964 All Others (less than 4%) 184 876,869 Total 193 $ 1,060,728
Schedule of property and equipment estimated useful lives	The estimated useful lives of our real estate properties at December 31, 2023 are as follows: Land improvements 1 - 20 years Buildings 7 - 50 years Building improvements 4.4 - 39.8 years Tenant improvements 1.4 - 15.1 years Lease intangibles 0.8 - 13.7 years Personal property 3 -10 years

Real Estate Leases (Tables)

Real Estate Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of future minimum lease payments for operating leases	Future minimum lease payments under the non-cancelable operating leases due the Company for the years ending December 31, as of December 31, 2023, are as follows (in thousands): 2024 $ 95,134 2025 88,670 2026 78,548 2027 71,150 2028 66,347 2029 and thereafter 340,896 $ 740,745
Sales-type Maturity	Future lease payments due to the Company under this lease for the years ending December 31, as of December 31, 2023, are as follows (in thousands): 2024 $ 346 2025 356 2026 367 2027 378 2028 389 2029 and thereafter 4,821 Total undiscounted lease receivable 6,657 Discount (3,629) Lease receivable $ 3,028
Schedule of operating lease payments	The Company's future lease payments under these non-prepaid ground leases were as follows (in thousands): Operating Financing 2024 $ 43 $ 154 2025 44 154 2026 44 154 2027 45 154 2028 46 154 2029 and thereafter 1,102 6,802 Total undiscounted lease payments 1,324 7,572 Discount (549) (4,295) Lease liabilities $ 775 $ 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 2024 $ 43 $ 154 2025 44 154 2026 44 154 2027 45 154 2028 46 154 2029 and thereafter 1,102 6,802 Total undiscounted lease payments 1,324 7,572 Discount (549) (4,295) Lease liabilities $ 775 $ 3,277
Ground leases	Other information regarding our ground leases are disclosed in the following tables. For the Year Ended December 31, (Dollars in thousands) 2023 2022 2021 Operating lease costs: Fixed rent expense $ 179 $ 177 $ 127 Financing lease costs: Amortization of right of use asset 59 53 28 Interest expense 122 122 71 Net lease costs $ 360 $ 352 $ 226 Net lease costs and location in the accompanying consolidated statements of income: Property operating expense $ 179 $ 177 $ 127 Depreciation and amortization 59 53 28 Interest expense 122 122 71 Net lease costs $ 360 $ 352 $ 226 Cash paid for amounts included in the measurement of lease liabilities: Operating leases $ 42 $ 41 $ 31 Finance leases 141 130 70 $ 183 $ 171 $ 101 Supplemental non-cash information on lease liabilities resulting from obtaining right of use assets: Right of use assets obtained in exchange for finance lease obligations — 728 1,898 $ — $ 728 $ 1,898 Year Ended December 31, 2023 2022 Operating leases: Weighted-average remaining lease term in years (including renewal options) 35.1 36.3 Weighted-average discount rate 4.0 % 4.0 % Financing leases: Weighted-average remaining lease term in years (including renewal options) 39.8 40.8 Weighted-average discount rate 4.2 % 4.2 %

Real Estate Acquisitions and _2

Real Estate Acquisitions and Dispositions (Tables)	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of acquisitions	Location Property Type (1) Date Acquired Purchase Price Cash Consideration Real Estate Other (2) Square Footage (000's) (000's) (000's) (000's) (Unaudited) 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 Crystal Lake, IL MOB 10/06/23 4,049 2,964 3,160 (196) 17,543 Crystal Lake, IL MOB 10/06/23 3,044 3,940 4,394 (454) 30,718 $ 97,845 $ 98,897 $ 101,856 $ (2,959) 463,001 (1) MOB - Medical Office Building; IRF - Inpatient Rehabilitation Facility (2) Includes items including, but not limited to, other assets, liabilities assumed, and security deposits. Location Property Type (1) Date Acquired Purchase Price Cash Consideration Real Estate Other (2) Square Footage (000's) (000's) (000's) (000's) (Unaudited) Toledo, OH MOB 03/09/22 $ 2,606 $ 2,621 $ 2,735 $ (114) 17,465 Fremont, NE MOB 03/09/22 3,232 3,224 3,443 (219) 12,850 Cincinnati, OH IRF 05/12/22 23,500 22,826 23,558 (732) 37,720 Marne, MI BSF 09/01/22 13,238 12,986 13,415 (429) 96,886 Des Moines, IA PC 09/20/22 4,272 4,313 3,818 495 17,318 Brook Park, OH MOB 11/21/22 2,200 2,187 2,256 (69) 16,802 Rockville, MD MOB 12/12/22 13,937 14,180 14,133 47 94,491 Cape Coral, FL SC 12/13/22 4,635 4,683 4,563 120 12,130 Cape Coral, FL MOB 12/13/22 400 410 394 16 2,023 Cape Coral, FL MOB 12/13/22 990 998 1,039 (41) 6,379 Fort Myers, FL MOB 12/13/22 6,520 6,583 6,143 440 22,104 Fort Myers, FL MOB 12/13/22 3,325 3,360 3,246 114 16,000 Fort Myers, FL SC 12/13/22 4,510 4,556 4,578 (22) 10,832 Fort Myers, FL SC 12/13/22 4,265 4,308 4,142 166 9,376 Fort Myers, FL MOB 12/13/22 133 139 141 (2) 1,201 Show Low, AZ MOB 12/23/22 840 841 844 (3) 4,437 Show Low, AZ MOB 12/23/22 4,122 4,105 4,170 (65) 22,410 Show Low, AZ MOB 12/23/22 4,347 4,371 4,111 260 22,400 $ 97,072 $ 96,691 $ 96,729 $ (38) 422,824 (1) PC - Physician Clinic; BSF - Behavioral Specialty Facility; IRF - Inpatient Rehabilitation Facility; MOB - Medical Office Building; SC - Specialty Center (2) Includes items including, but not limited to, other assets, above and below market intangibles, liabilities assumed, and security deposits.
Schedule of assets acquired and liabilities assumed	The following table summarizes the estimated relative fair values of the assets acquired and liabilities assumed in the property acquisitions for the year ended December 31, 2023. Estimated Fair Value Weighted Average (In thousands) (In years) Land and land improvements $ 19,443 8.6 Building and building improvements 70,496 30.4 Intangibles: At-market lease intangibles 11,917 4.4 Above-market lease intangibles 976 5.1 Below-market lease intangibles (3,135) 5.1 Total intangibles 9,758 Accounts receivable and other assets acquired 304 Accounts payable, accrued liabilities and other liabilities acquired (798) Prorated rent, interest and operating expense reimbursement amounts collected (306) Total cash consideration $ 98,897 The following table summarizes the estimated relative fair values of the assets acquired and liabilities assumed in the property acquisitions for the year ended December 31, 2022. Estimated Fair Value Weighted Average (In thousands) (In years) Land and land improvements $ 19,405 10.1 Building and building improvements 68,268 34.5 Intangibles: At-market lease intangibles 9,056 6.6 Above-market lease intangibles 1,977 6.3 Below-market lease intangibles (649) 5.3 Total intangibles 10,384 Accounts receivable and other assets acquired 800 Accounts payable, accrued liabilities and other liabilities acquired (2,015) Financing right-of-use lease asset acquired 728 Financing lease liability acquired (308) Prorated rent, interest and operating expense reimbursement amounts collected (571) Total cash consideration $ 96,691

Debt, net (Tables)

Debt, net (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of debt	The table below details the Company's debt, net as of December 31, 2023 and December 31, 2022. Balance as of December 31, (Dollars in thousands) 2023 2022 Maturity Dates Credit Facility: Revolving Credit Facility $ 50,000 $ — 3/26 A-3 Term Loan, net 74,730 74,609 3/26 A-4 Term Loan, net 124,522 124,409 3/28 A-5 Term Loan, net 149,189 149,059 3/30 Mortgage Note Payable, net 4,815 4,920 5/24 $ 403,256 $ 352,997

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments in statement of financial position, fair value	The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of December 31, 2023 and 2022. Asset Derivatives Fair Value Liability Derivatives Fair Value (in thousands) 2023 2022 Balance Sheet Classification 2023 2022 Balance Sheet Classification Interest rate swaps $ 16,417 $ 22,667 Other assets, net $ — $ — Other liabilities, net Offsetting of Derivative Assets (as of December 31, 2023) Gross Amounts Not Offset in the Consolidated Balance Sheets (in thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts of Assets in the Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ 16,417 $ — $ 16,417 $ — $ — $ 16,417 Offsetting of Derivative Liabilities (as of December 31, 2023) Gross Amounts Not Offset in the Consolidated Balance Sheets (in thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts of Liabilities in the 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 Consolidated Balance Sheets (in thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts of Assets in the 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 Consolidated Balance Sheets (in thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts of Liabilities in the Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ — $ — $ — $ — $ — $ —
Derivative instruments, gain (loss)	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 years ended December 31, 2023 and 2022. For the Year Ended December 31, (Dollars in thousands) 2023 2022 Amount of unrealized gain recognized in OCI on derivative $ 3,803 $ 27,380 Amount of (gain) loss reclassified from AOCI into interest expense $ (10,053) $ 267 Total interest expense presented in the Consolidated Statements of Income in which the effects of the cash flow hedges are recorded $ 17,792 $ 11,873

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 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 years ended December 31, 2023, 2022 and 2021: For the Year Ended December 31, (Amounts in thousands) 2023 2022 2021 Balance, beginning of period 25,897 24,983 23,888 Issuance of common stock 1,385 600 823 Restricted stock issued 361 318 273 Restricted stock withheld and forfeited (30) (4) (1) Balance, end of period 27,613 25,897 24,983
Schedule of ATM Program	As of December 31, 2023, the Company had approximately $433.9 million remaining that may be issued under the ATM Program. For the Year Ended December 31, (Shares in thousands, except per share amounts) 2023 2022 2021 Shares issued 1,385 600 823 Net proceeds received (in millions) $44.2 $20.5 $38.4 Average gross sales price per share $32.56 $34.94 $47.68
Schedule of dividends declared and paid	During 2023, the Company declared and paid dividends totaling $1.805 per common share as shown in the table below. Declaration Date Record Date Date Paid Amount Per Share February 9, 2023 February 21, 2023 March 1, 2023 $0.4475 April 27, 2023 May 12, 2023 May 26, 2023 $0.4500 July 27, 2023 August 11, 2023 August 25, 2023 $0.4525 October 26, 2023 November 9, 2023 November 24, 2023 $0.4550 During 2022, the Company declared and paid dividends totaling $1.765 per common share as shown in the table below. Declaration Date Record Date Date Paid Amount Per Share February 10, 2022 February 22, 2022 March 1, 2022 $0.4375 April 28, 2022 May 13, 2022 May 27, 2022 $0.4400 July 28, 2022 August 12, 2022 August 26, 2022 $0.4425 October 27, 2022 November 10, 2022 November 25, 2022 $0.4450

Income Per Common Share (Tables

Income Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of earnings per share	The following table sets forth the computation of basic and diluted income per common share. Year Ended December 31, (Dollars and shares in thousands, except per share data) 2023 2022 2021 Net income $ 7,714 $ 22,019 $ 22,492 Participating securities' share in earnings (2,619) (2,847) (2,314) Net income, less participating securities' share in earnings $ 5,095 $ 19,172 $ 20,178 Weighted Average Common Shares Outstanding Weighted average common shares outstanding 26,649 25,218 24,583 Unvested restricted shares (1,447) (1,587) (1,320) Weighted average common shares outstanding–Basic 25,202 23,631 23,263 Weighted average common shares–Basic 25,202 23,631 23,263 Dilutive potential common shares — — — Weighted average common shares outstanding –Diluted 25,202 23,631 23,263 Basic Income per Common Share $ 0.20 $ 0.81 $ 0.87 Diluted Income per Common Share $ 0.20 $ 0.81 $ 0.87

Stock Incentive Plans (Tables)

Stock Incentive Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Nonvested restricted stock shares activity	A summary of the activity under the Incentive Plan and related information for the years ended December 31, 2023, 2022, and 2021 is included in the table below. Year Ended December 31, (dollars and shares in thousands, except per share amounts) 2023 2022 2021 Stock-based awards, beginning of year 1,708 1,416 1,164 Stock in lieu of compensation 141 116 96 Stock awards 220 202 177 Total Granted 361 318 273 Vested (1) (692) (22) (20) Forfeited (3) (4) (1) Stock-based awards, end of year 1,374 1,708 1,416 ___________ (1) Vested shares for the twelve months ended December 31, 2023 included the accelerated vesting of 625 shares upon the passing of our former CEO and President. Weighted average grant date fair value, per share, of: Stock-based awards, beginning of year $ 37.43 $ 33.89 $ 31.04 Stock-based awards granted during the year $ 36.78 $ 41.45 $ 48.48 Stock-based awards vested during the year $ 35.38 $ 23.54 $ 26.52 Stock-based awards forfeited during the year $ 43.83 $ 41.87 $ 49.81 Stock-based awards, end of year $ 36.45 $ 37.43 $ 33.89 Grant date fair value of shares granted during the year $ 13,220 $ 13,232 $ 13,251

Other Assets, net (Tables)

Other Assets, net (Tables)	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of other assets	Other assets on the Company's Consolidated Balance Sheets as of December 31, 2023 and 2022 are detailed in the table below. December 31, (Dollars in thousands) 2023 2022 Notes receivable $ 30,775 $ 32,705 Straight-line rent receivables 18,481 15,429 Fair value of interest rate swaps 16,417 22,667 Accounts receivable 4,645 2,679 Sales-type lessor receivable 3,028 3,035 Above-market intangible assets, net 2,645 2,399 Financing lease right-of-use assets 2,486 2,545 Leasing commissions, net 2,312 1,848 Prepaid assets 1,203 980 Operating lease right of use assets 729 759 Other 684 496 Deferred financing costs, net 471 683 Deferred tax asset — 306 $ 83,876 $ 86,531
Schedule of VIEs	The VIEs that we have identified at December 31, 2023 are summarized in the table below. Classification Carrying Amount (in thousands) Maximum Exposure to Loss (in thousands) Note receivable (term loan) $6,000 $6,000 Note receivable (term loan) $17,000 $17,000 Note receivable (revolving credit facility) $5,435 $5,435 Note receivable (revolving credit facility) $2,340 $2,340

Other Liabilities, net (Tables)

Other Liabilities, net (Tables)	12 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Schedule of other liabilities	Other liabilities on the Company's Consolidated Balance Sheets as of December 31, 2023 and 2022 are detailed in the table below. December 31, (Dollars in thousands) 2023 2022 Prepaid rent $ 5,378 $ 3,853 Security deposits 3,765 5,766 Below-market lease intangibles, net 3,188 1,075 Financing lease liability 3,277 3,279 Operating lease liability 775 786 Other 485 478 $ 16,868 $ 15,237

Intangible Assets and Liabili_2

Intangible Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of deferred financings costs and various real estate acquisition lease intangibles	The Company has deferred financing costs and various real estate acquisition lease intangibles included in its Consolidated Balance Sheets as of December 31, 2023 and 2022 as detailed in the table below. The Company did not have any indefinite lived intangible assets or liabilities as of December 31, 2023 and 2022. Gross Balance at Accumulated Amortization at December 31, Weighted (Dollars in thousands) 2023 2022 2023 2022 Balance Sheet Classification Deferred financing costs-Revolving Credit Facility $ 3,042 $ 3,042 $ 2,571 $ 2,359 2.3 Other assets, net Deferred financing costs-Term Loans 2,551 2,551 993 627 5.0 Debt, net Deferred financing costs-Mortgage Note Payable 108 108 101 81 0.3 Debt, net Above-market lease intangibles 3,913 2,938 1,268 539 4.9 Other assets, net Below-market lease intangibles (5,521) (2,779) (2,333) (1,703) 4.7 Other liabilities, net At-market lease intangibles 102,870 93,618 74,865 66,320 4.2 Real estate properties Total intangibles $ 106,963 $ 99,478 $ 77,465 $ 68,223 4.6
Schedule of expected future amortization expense, net	Expected future amortization, net, for the next five years of the Company's intangible assets and liabilities, in place as of December 31, 2023 are included in the table below. (in thousands) Amortization, net 2024 $ 9,891 2025 $ 7,968 2026 $ 4,718 2027 $ 2,322 2028 $ 1,516

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value, by balance sheet grouping	The table below details the fair values and carrying values for our mortgage note and notes receivable and interest rate swaps at December 31, 2023 and 2022 using Level 2 inputs. December 31, 2023 December 31, 2022 (Dollars in thousands) Carrying Value Fair Value Carrying Value Fair Value Notes receivable $ 30,775 $ 31,199 $ 32,705 $ 32,716 Interest rate swap asset $ 16,417 $ 16,417 $ 22,667 $ 22,667 Mortgage note payable $ 4,821 $ 4,791 $ 4,947 $ 4,761

Other Data (Tables)

Other Data (Tables)	12 Months Ended
	Dec. 31, 2023
Other Data [Abstract]
Provision for income taxes	Income tax expense and state income tax payments, net of refunds, are as follows for the years ended December 31, 2023, 2022, and 2021. Year Ended December 31, (Dollars in thousands) 2023 2022 2021 Current $ 106 $ 97 $ 129 Deferred 306 41 167 Total income tax expense $ 412 $ 138 $ 296 Income tax payments, net of refunds $ 80 $ 120 $ 109
Schedule of deferred tax assets and liabilities	The tax effect of temporary differences included in the net deferred tax assets at December 31, 2023 and 2022 are as follows: December 31, (Dollars in thousands) 2023 2022 Deferred tax assets Deferred stock-based compensation $ 5,709 $ 7,008 Net operating losses 1,987 1,349 Depreciation and amortization 45 35 Prepaid expenses 15 22 Total deferred tax assets 7,756 8,414 Valuation allowance (2,141) (1,406) Deferred tax assets, net 5,615 7,008 Deferred tax liabilities Deferred administrative services fee (5,613) (6,702) Other (2) — Deferred tax liabilities (5,615) (6,702) Net Deferred tax assets $ — $ 306
Reconciliation of consolidated net income to taxable income	The following table reconciles the Company’s net income to taxable income for the years ended December 31, 2023, 2022 and 2021. Year Ended December 31, (Dollars in thousands) 2023 2022 2021 Net income $ 7,714 $ 22,019 $ 22,492 Reconciling items to taxable income: Depreciation and amortization 15,773 11,493 11,121 Gain on sale of real estate (647) — 36 Straight-line rent (3,157) (3,265) (3,522) Receivable allowance 250 — (25) Stock-based compensation (7,801) 5,681 3,872 Sec. 162(m) compensation disallowance 22,199 — — Deferred rent 1,351 61 1,196 Deferred income taxes 306 41 166 Other (135) (17) (68) 28,139 13,994 12,776 Taxable income (1) $ 35,853 $ 36,013 $ 35,268 Dividends paid (2) $ 45,439 $ 41,642 $ 40,092 __________ (1) Before REIT dividends paid deduction. (2) Net of dividends paid on restricted stock included as a reconciling item.
Characterization of common stock distributions	The following table shows the characterization of the distributions on the Company's common stock for the years ended December 31, 2023, 2022 and 2021. No preferred shares have been issued by the Company and no dividends have been paid to date relating to preferred shares. 2023 2022 2021 Per Share % Per Share % Per Share % Common stock: Ordinary income $ 1.569469 87.0 % $ 1.575094 89.2 % $ 1.537982 89.2 % Return of capital $ 0.235531 13.0 % $ 0.189906 10.8 % $ 0.175047 10.1 % Capital gain $ — — % $ — — % $ 0.011971 0.7 % Common stock distributions $ 1.805000 100.0 % $ 1.765000 100.0 % $ 1.725000 100.0 %

Subsequent Events (Tables)

Subsequent Events (Tables)	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Share-Based Payment Arrangement, Restricted Stock Unit, Activity	On January 4, 2024, the Company granted the following performance-based and time-based RSU's to its executive officers under the Third Executive Officer Incentive Program: Absolute TSR Performance-based RSUs (1) Relative TSR Performance-based RSUs (1) Time-based Number of RSUs granted 56,561 43,433 33,623 __________ (1) The number of Performance-based RSUs granted were based on target levels. Actual number of shares granted will be based on performance at the end of the performance period which is June 30, 2026. (2) The number of Time-based RSUs granted were based on target levels. One-third of these RSUs will vest on each of June 30, 2024, 2025 and 2026.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Business Overview (Details) $ in Thousands, ft² in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) ft² real_estate_property state	Dec. 31, 2022 USD ($) real_estate_property
Accounting Policies [Abstract]
Total real estate properties | $	$ 1,060,728
Number of real estate properties | real_estate_property	193
Number of properties held for investment in financing lease | real_estate_property	1	1
Lease receivable | $	$ 3,028	$ 3,035
Number of properties held for sale | real_estate_property	2	0
Discontinued operation, property, plant and equipment | $	$ 7,500
Number of states in which real estate investments are in | state	34
Area of real estate property (in square feet) | ft²	4.3
Percentage leased	91.10%
Remaining lease term	6 years 10 months 24 days

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Segment Reporting/Long-lived Asset Impairments/ Asset Held for Sale (Details)	3 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) real_estate_property reporting_unit	Dec. 31, 2022 USD ($) real_estate_property	Dec. 31, 2021 USD ($)
Accounting Policies [Abstract]
Number of reporting units | reporting_unit		1
Impairment of real estate asset	$ 1,600,000	$ 102,000	$ 0	$ 0
Gain on sale of real estate		$ 0	0	237,000
Asset impairment charges			$ 0	$ 0
Number of properties held for sale | real_estate_property		2	0

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 3,491	$ 11,233
Restricted cash	1,142	835
Cash, cash equivalents and restricted cash	$ 4,633	$ 12,068	$ 2,867	$ 2,892

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Lease Accounting/Income Taxes (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) lease real_estate_property	Dec. 31, 2022 USD ($) real_estate_property	Dec. 31, 2021 USD ($)
Accounting Policies [Abstract]
Number of properties held for investment in financing lease | real_estate_property	1	1
Number of operating leases | lease	4
Number of finance leases | lease	2
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets, net	Other assets, net
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other liabilities, net	Other liabilities, net
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities, net	Other liabilities, net
Interest and penalties related to uncertain tax positions | $	$ 0	$ 0	$ 0
Lease Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
General allowance | $	$ 300,000	$ 100,000

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Share-Based Compensation (Details) - 2014 Incentive Plan	12 Months Ended
	Dec. 31, 2023 program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of programs under plan	3
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized, percentage of common stock outstanding	7%

Real Estate Investments - Addit

Real Estate Investments - Additional Information (Details) ft² in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) ft² lease real_estate_property	Dec. 31, 2022 USD ($) real_estate_property	Dec. 31, 2021 USD ($)	Jun. 30, 2023 ft²
Real Estate Properties [Line Items]
Total real estate properties | $	$ 1,060,728
Number of real estate properties	193
Number of properties held for investment in financing lease	1	1
Lease receivable | $	$ 3,028	$ 3,035
Number of properties held for sale	2	0
Discontinued operation, property, plant and equipment | $	$ 7,500
Depreciation and amortization | $	$ 39,693	$ 32,339	$ 30,401
Area of real estate property (in square feet) | ft²	4,300
Percentage leased	91.10%
Florida
Real Estate Properties [Line Items]
Total real estate properties | $	$ 108,631
Number of real estate properties	25
GenesisCare
Real Estate Properties [Line Items]
Area of real estate property (in square feet) | ft²	62
Percentage leased	1.90%
GenesisCare | Sole Tenant Property
Real Estate Properties [Line Items]
Number of real estate properties	5
GenesisCare | Multi-Tenant Property
Real Estate Properties [Line Items]
Number of real estate properties	2
Number Of Leases, Rejected | lease	2
GenesisCare | North Carolina
Real Estate Properties [Line Items]
Area of real estate property (in square feet) | ft²				11
GenesisCare | Florida
Real Estate Properties [Line Items]
Area of real estate property (in square feet) | ft²	46

Real Estate Investments - Sched

Real Estate Investments - Schedule of Real Estate Property Investments (Details) $ in Thousands	Dec. 31, 2023 USD ($) real_estate_property
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	193
Total real estate properties | $	$ 1,060,728
Lifepoint Health
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	6
Total real estate properties | $	$ 105,895
US HealthVest
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	3
Total real estate properties | $	$ 77,964
All Others (less than 4%)
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	184
Total real estate properties | $	$ 876,869
Texas
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	17
Total real estate properties | $	$ 162,706
Illinois
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	18
Total real estate properties | $	$ 131,416
Ohio
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	26
Total real estate properties | $	$ 113,837
Florida
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	25
Total real estate properties | $	$ 108,631
Pennsylvania
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	15
Total real estate properties | $	$ 58,458
All Others
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	92
Total real estate properties | $	$ 485,680
Medical Office Building
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	93
Total real estate properties | $	$ 436,962
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 | $	$ 130,528
Specialty Centers
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	37
Total real estate properties | $	$ 117,718
Physician Clinics
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	30
Total real estate properties | $	$ 87,311
Surgical Centers and Hospitals
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	10
Total real estate properties | $	$ 53,449
Behavioral specialty facilities
Real Estate Properties [Line Items]
Number of Real Estate Properties | real_estate_property	9
Total real estate properties | $	$ 45,051
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 Investments - Sch_2

Real Estate Investments - Schedule of Property and Equipment Useful Lives (Details)	Dec. 31, 2023
Land improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	1 year
Land improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	20 years
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	7 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	50 years
Building improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	4 years 4 months 24 days
Building improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	39 years 9 months 18 days
Tenant improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	1 year 4 months 24 days
Tenant improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	15 years 1 month 6 days
Lease intangibles | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	9 months 18 days
Lease intangibles | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	13 years 8 months 12 days
Personal property | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	3 years
Personal property | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	10 years

Real Estate Leases - Future Min

Real Estate Leases - Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 95,134
2025	88,670
2026	78,548
2027	71,150
2028	66,347
2029 and thereafter	340,896
Lease payments	$ 740,745

Real Estate Leases - Additional

Real Estate Leases - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) real_estate_property state lease	Dec. 31, 2022 USD ($) real_estate_property	Dec. 31, 2021 USD ($) tenant
Concentration Risk [Line Items]
Percentage leased	91.10%
Remaining lease term	6 years 10 months 24 days
Number of states in which real estate investments are in | state	34
Number of tenants exercising a purchase option | tenant			2
Gain on sale of real estate	$ 0	$ 0	$ 237
Real estate investment property, net	$ 849,437	777,826
Number of real estate properties | real_estate_property	193
Straight line rent	$ 3,100	$ 3,400	$ 3,600
Number of properties held for investment in financing lease | real_estate_property	1	1
Lease receivable	$ 3,028	$ 3,035
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets, net	Other assets, net
Interest income	$ 300
Number of operating leases | lease	4
Number of finance leases | lease	2
Texas
Concentration Risk [Line Items]
Number of real estate properties | real_estate_property	17
Ohio
Concentration Risk [Line Items]
Number of real estate properties | real_estate_property	26
Illinois
Concentration Risk [Line Items]
Number of real estate properties | real_estate_property	18
Geographic Concentration Risk | Revenue | United States
Concentration Risk [Line Items]
Concentration risk percentage	39.90%	42%	29.50%
Geographic Concentration Risk | Revenue | Texas
Concentration Risk [Line Items]
Concentration risk percentage	15.30%	16.40%	16.10%
Geographic Concentration Risk | Revenue | Ohio
Concentration Risk [Line Items]
Concentration risk percentage	13.20%	12.90%
Geographic Concentration Risk | Revenue | Illinois
Concentration Risk [Line Items]
Concentration risk percentage	11.40%	12.70%	13.40%
Ten Real Estate Properties
Concentration Risk [Line Items]
Real estate investment property, net	$ 37,200
Number of real estate properties | real_estate_property	10
Other liabilities, net
Concentration Risk [Line Items]
Deferred revenue	$ 3,900	$ 5,200

Real Estate Leases - Lease Rece

Real Estate Leases - Lease Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 346
2025	356
2026	367
2027	378
2028	389
2029 and thereafter	4,821
Total undiscounted lease receivable	6,657
Discount	(3,629)
Lease receivable	$ 3,028	$ 3,035

Real Estate Leases - Future Lea

Real Estate Leases - Future Lease Payments Under Non-prepaid Ground Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating
2024	$ 43
2025	44
2026	44
2027	45
2028	46
2029 and thereafter	1,102
Total undiscounted lease payments	1,324
Discount	(549)
Operating lease liability	775	$ 786
Financing
2024	154
2025	154
2026	154
2027	154
2028	154
2029 and thereafter	6,802
Total undiscounted lease payments	7,572
Discount	(4,295)
Lease liabilities	$ 3,277	$ 3,279

Real Estate Leases - Ground Lea

Real Estate Leases - Ground Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease costs:	$ 179	$ 177	$ 127
Amortization of right of use asset	59	53	28
Interest expense	122	122	71
Net lease costs	360	352	226
Operating leases	42	41	31
Finance leases	141	130	70
Total cash flows	183	171	101
Right of use assets obtained in exchange for finance lease obligations	0	728	1,898
Total new lease liabilities	$ 0	$ 728	$ 1,898
Operating leases:
Weighted-average remaining lease term in years (including renewal options)	35 years 1 month 6 days	36 years 3 months 18 days
Weighted-average discount rate	4%	4%
Financing leases:
Weighted-average remaining lease term in years (including renewal options)	39 years 9 months 18 days	40 years 9 months 18 days
Weighted-average discount rate	4.20%	4.20%

Real Estate Acquisitions and _3

Real Estate Acquisitions and Dispositions - Additional Information (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) land_parcel real_estate_property transaction	Dec. 31, 2022 USD ($) real_estate_property	Dec. 31, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties held for sale | real_estate_property		2	0
Real estate properties held for sale		$ 7,466	$ 0
Discontinued operation, property, plant and equipment		7,500
Impairment of real estate asset	$ 1,600	102	0	$ 0
Insurance proceeds from casualty loss	2,300	$ 2,273	$ 0	$ 0
Real Estate Properties Acquired, Number Of Transactions | transaction		14
Land and land improvements
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued operation, property, plant and equipment		$ 1,500
Building and building improvements
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued operation, property, plant and equipment		6,000
Interest And Other Income
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net casualty gain	700
Disposal Group, Held-for-Sale, Not Discontinued Operations | Houstan, Texas
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate properties held for sale	$ 1,100
Disposal Group, Held-for-Sale, Not Discontinued Operations | Ft. Myers, Florida
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate properties held for sale		$ 6,400
Acquisitions Of Properties During 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties acquired | real_estate_property		19
Number of land parcel acquired | land_parcel		1
Percentage of acquired building leased at acquisition		99.20%
Pro forma information, revenue of acquiree since acquisition date, actual		$ 6,700
Pro forma information, earnings or loss of acquiree since acquisition date, actual		2,000
Transaction costs		$ 1,600
Acquisitions of Properties During 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties acquired | real_estate_property			18
Percentage of acquired building leased at acquisition			98.90%
Pro forma information, revenue of acquiree since acquisition date, actual			$ 3,200
Pro forma information, earnings or loss of acquiree since acquisition date, actual			1,900
Transaction costs			$ 1,400

Real Estate Acquisitions and _4

Real Estate Acquisitions and Dispositions - Real Estate Acquisitions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) ft²	Dec. 31, 2022 USD ($) ft²
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square Footage (in square feet) | ft²	4,300,000
Acquisitions of Properties During 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 97,072
Cash Consideration		96,691
Real Estate		96,729
Other		$ (38)
Square Footage (in square feet) | ft²		422,824
Acquisitions of Properties During 2022 | Toledo, OH
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 2,606
Cash Consideration		2,621
Real Estate		2,735
Other		$ (114)
Square Footage (in square feet) | ft²		17,465
Acquisitions of Properties During 2022 | Fremont, NE
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 3,232
Cash Consideration		3,224
Real Estate		3,443
Other		$ (219)
Square Footage (in square feet) | ft²		12,850
Acquisitions of Properties During 2022 | Cincinnati, OH
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 23,500
Cash Consideration		22,826
Real Estate		23,558
Other		$ (732)
Square Footage (in square feet) | ft²		37,720
Acquisitions of Properties During 2022 | Marne, MI
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 13,238
Cash Consideration		12,986
Real Estate		13,415
Other		$ (429)
Square Footage (in square feet) | ft²		96,886
Acquisitions of Properties During 2022 | Des Moines, IA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 4,272
Cash Consideration		4,313
Real Estate		3,818
Other		$ 495
Square Footage (in square feet) | ft²		17,318
Acquisitions of Properties During 2022 | Brook Park, OH
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 2,200
Cash Consideration		2,187
Real Estate		2,256
Other		$ (69)
Square Footage (in square feet) | ft²		16,802
Acquisitions of Properties During 2022 | Rockville, MD
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 13,937
Cash Consideration		14,180
Real Estate		14,133
Other		$ 47
Square Footage (in square feet) | ft²		94,491
Acquisitions of Properties During 2022 | Cape Coral, FL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 4,635
Cash Consideration		4,683
Real Estate		4,563
Other		$ 120
Square Footage (in square feet) | ft²		12,130
Acquisitions of Properties During 2022 | Cape Coral, FL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 400
Cash Consideration		410
Real Estate		394
Other		$ 16
Square Footage (in square feet) | ft²		2,023
Acquisitions of Properties During 2022 | Cape Coral, FL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 990
Cash Consideration		998
Real Estate		1,039
Other		$ (41)
Square Footage (in square feet) | ft²		6,379
Acquisitions of Properties During 2022 | Fort Myers, FL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 6,520
Cash Consideration		6,583
Real Estate		6,143
Other		$ 440
Square Footage (in square feet) | ft²		22,104
Acquisitions of Properties During 2022 | Fort Myers, FL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 3,325
Cash Consideration		3,360
Real Estate		3,246
Other		$ 114
Square Footage (in square feet) | ft²		16,000
Acquisitions of Properties During 2022 | Fort Myers, FL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 4,510
Cash Consideration		4,556
Real Estate		4,578
Other		$ (22)
Square Footage (in square feet) | ft²		10,832
Acquisitions of Properties During 2022 | Fort Myers, FL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 4,265
Cash Consideration		4,308
Real Estate		4,142
Other		$ 166
Square Footage (in square feet) | ft²		9,376
Acquisitions of Properties During 2022 | Fort Myers, FL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 133
Cash Consideration		139
Real Estate		141
Other		$ (2)
Square Footage (in square feet) | ft²		1,201
Acquisitions of Properties During 2022 | Show Low, AZ
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 840
Cash Consideration		841
Real Estate		844
Other		$ (3)
Square Footage (in square feet) | ft²		4,437
Acquisitions of Properties During 2022 | Show Low, AZ
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 4,122
Cash Consideration		4,105
Real Estate		4,170
Other		$ (65)
Square Footage (in square feet) | ft²		22,410
Acquisitions of Properties During 2022 | Show Low, AZ
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price		$ 4,347
Cash Consideration		4,371
Real Estate		4,111
Other		$ 260
Square Footage (in square feet) | ft²		22,400
Acquisitions Of Properties During 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 97,845
Cash Consideration	98,897
Real Estate	101,856
Other	$ (2,959)
Square Footage (in square feet) | ft²	463,001
Acquisitions Of Properties During 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 | Crystal Lake, IL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 4,049
Cash Consideration	2,964
Real Estate	3,160
Other	$ (196)
Square Footage (in square feet) | ft²	17,543
Acquisitions Of Properties During 2023 | Crystal Lake, IL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 3,044
Cash Consideration	3,940
Real Estate	4,394
Other	$ (454)
Square Footage (in square feet) | ft²	30,718

Real Estate Acquisitions and _5

Real Estate Acquisitions and Dispositions - Assets Acquired and Liabilities Assumed (Details) - Series of Individually Immaterial Business Acquisitions - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Land and land improvements	$ 19,443	$ 19,405
Building and building improvements	70,496	68,268
Intangibles:
Below-market lease intangibles	$ (3,135)	$ (649)
Below-market lease intangibles, useful life (in years)	5 years 1 month 6 days	5 years 3 months 18 days
Total intangibles	$ 9,758	$ 10,384
Accounts receivable and other assets acquired	304	800
Accounts payable, accrued liabilities and other liabilities acquired	(798)	(2,015)
Financing right-of-use lease asset acquired		728
Financing lease liability acquired		308
Prorated rent, interest and operating expense reimbursement amounts collected	(306)	(571)
Total cash consideration	98,897	96,691
At-market lease intangibles
Intangibles:
Lease intangibles	$ 11,917	$ 9,056
Intangibles useful life (in years)	4 years 4 months 24 days	6 years 7 months 6 days
Above-market lease intangibles
Intangibles:
Lease intangibles	$ 976	$ 1,977
Intangibles useful life (in years)	5 years 1 month 6 days	6 years 3 months 18 days
Land and land improvements
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Estimated useful life (in years)	8 years 7 months 6 days	10 years 1 month 6 days
Building and building improvements
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Estimated useful life (in years)	30 years 4 months 24 days	34 years 6 months

Debt, net - Schedule of Debt (D

Debt, net - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Debt, net	$ 403,256	$ 352,997
Term Loan | Third Amended and Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	350,000
Mortgage Note Payable, net
Debt Instrument [Line Items]
Debt, net	4,815	4,920
Revolving Credit Facility | Revolving Credit Facility | Third Amended and Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	50,000	0
A-3 Term Loan, net | Term Loan | Third Amended and Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	74,730	74,609
A-4 Term Loan, net | Term Loan | Third Amended and Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	124,522	124,409
A-5 Term Loan, net | Term Loan | Third Amended and Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	$ 149,189	$ 149,059

Debt, net - Narrative (Details)

Debt, net - Narrative (Details)	Dec. 14, 2022 USD ($) option	Mar. 31, 2024 derivative_instrument	Dec. 31, 2023 USD ($) derivative_instrument	Dec. 31, 2022 USD ($)	Dec. 31, 2018 USD ($)
Line of Credit Facility [Line Items]
Amount outstanding			$ 403,256,000	$ 352,997,000
Carrying value of property			$ 849,437,000	777,826,000
Interest Rate Swap | Cash Flow Hedging
Line of Credit Facility [Line Items]
Number outstanding interest rate derivatives | derivative_instrument			2
Forecast | Interest Rate Swap | Cash Flow Hedging
Line of Credit Facility [Line Items]
Number outstanding interest rate derivatives | derivative_instrument		2
Forecast | Forward-Starting Swap | Cash Flow Hedging
Line of Credit Facility [Line Items]
Number outstanding interest rate derivatives | derivative_instrument		2
Mortgage Note Payable, net
Line of Credit Facility [Line Items]
Face amount					$ 5,400,000
Amount outstanding			$ 4,815,000	4,920,000
Fixed interest rate			4.98%
Repayment year one			$ 4,800,000
Unamortized loan costs			6,000	27,000
Mortgage Note Payable, net | Buildings
Line of Credit Facility [Line Items]
Carrying value of property			7,200,000
Third 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%
Third Amended and Restated Credit Facility | Term Loan | Forecast
Line of Credit Facility [Line Items]
Weighted average interest rate percentage		4.40%
Third Amended and Restated Credit Facility | Revolving Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 150,000,000
Number of options to extend | option	1
Length of extension	12 months
Remaining borrowing capacity			$ 100,000,000
Amount outstanding			50,000,000	0
Third Amended and Restated Credit Facility | A-4 Term Loan, net | Term Loan
Line of Credit Facility [Line Items]
Debt term	7 years
Face amount	$ 125,000,000
Amount outstanding			124,522,000	124,409,000
Third Amended and Restated Credit Facility | A-3 Term Loan, net | Term Loan
Line of Credit Facility [Line Items]
Face amount	$ 75,000,000
Amount outstanding			74,730,000	74,609,000
Third Amended and Restated Credit Facility | A-2 Term Loan, net | Term Loan
Line of Credit Facility [Line Items]
Debt term	7 years
Third Amended and Restated Credit Facility | A-5 Term Loan, net | Term Loan
Line of Credit Facility [Line Items]
Debt term	7 years 3 months
Face amount	$ 150,000,000
Amount outstanding			$ 149,189,000	$ 149,059,000
Third Amended and Restated Credit Facility | Revolving Credit Facility, Unused Borrowing Capacity Rate 1 | Revolving Credit Facility
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 | Revolving Credit Facility
Line of Credit Facility [Line Items]
Unused borrowing commitment fee percentage	0.25%
Percentage of borrowing capacity outstanding	33.30%
Third Amended and Restated Credit Facility | Term Loan | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 350,000,000
Third Amended And Restated Credit Facility, First Amendment | Base Rate | Minimum | Term Loan
Line of Credit Facility [Line Items]
Variable rate percentage	0.65%
Third Amended And Restated Credit Facility, First Amendment | Base Rate | Maximum | Term Loan
Line of Credit Facility [Line Items]
Variable rate percentage	1.30%
Third Amended And Restated Credit Facility, First Amendment | SOFR | Minimum | Term Loan
Line of Credit Facility [Line Items]
Variable rate percentage	1.65%
Third Amended And Restated Credit Facility, First Amendment | SOFR | Maximum | Term Loan
Line of Credit Facility [Line Items]
Variable rate percentage	2.30%
Third Amended And Restated Credit Facility, First Amendment | Simple SOFR | Maximum | Term Loan
Line of Credit Facility [Line Items]
Variable rate percentage	0.10%
Third Amended And Restated Credit Facility, First Amendment | Revolving Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Effective percentage			7.06%
Third Amended And Restated Credit Facility, First Amendment | Revolving Credit Facility | Base Rate | Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Variable rate percentage	0.25%
Third Amended And Restated Credit Facility, First Amendment | Revolving Credit Facility | Base Rate | Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Variable rate percentage	0.90%
Third Amended And Restated Credit Facility, First Amendment | Revolving Credit Facility | SOFR | Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Variable rate percentage	1.25%
Third Amended And Restated Credit Facility, First Amendment | Revolving Credit Facility | SOFR | Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Variable rate percentage	1.90%

Derivative Financial Instrume_3

Derivative Financial Instruments - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) derivative_instrument
Derivative [Line Items]
Cash flow hedges reclassified to interest expense	$ 8,400,000
Cash Flow Hedging | Interest Rate Contract
Derivative [Line Items]
Number outstanding interest rate derivatives | derivative_instrument	17
Notional amount	$ 350,000,000
Cash Flow Hedging | Interest rate swaps
Derivative [Line Items]
Number outstanding interest rate derivatives | derivative_instrument	2
Notional amount	$ 50,000,000

Derivative Financial Instrume_4

Derivative Financial Instruments - Fair Value Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Leasing commissions, net	$ 16,417	$ 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]
Leasing commissions, net	$ 16,417	$ 22,667
Interest rate swap liability	$ 0	$ 0

Derivative Financial Instrume_5

Derivative Financial Instruments - Cash Flow Hedging (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense	Interest Expense
Interest Rate Contract | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of unrealized gain recognized in OCI on derivative	$ 3,803	$ 27,380
Total interest expense presented in the Consolidated Statements of Income in which the effects of the cash flow hedges are recorded	17,792	11,873
Interest Rate Contract | Cash Flow Hedging | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss reclassified from AOCI into interest expense	$ (10,053)	$ 267

Derivative Financial Instrume_6

Derivative Financial Instruments - Offsetting of Derivative Assets and Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivative Asset [Abstract]
Gross Amounts of Recognized Assets	$ 16,417	$ 22,667
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Amounts of Assets in the Consolidated Balance Sheets	16,417	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, cash collateral received	0	0
Gross amounts not offset in the condensed consolidated balance sheets, net amount	16,417	22,667
Derivative Liability [Abstract]
Gross Amounts of Recognized Liabilities	0	0
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Amounts of Liabilities in the 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 - Reconcil

Stockholders' Equity - Reconciliation of Common Stock (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in shares)	25,897	24,983	23,888
Issuance of common stock (in shares)	1,385	600	823
Restricted stock issued (in shares)	361	318	273
Restricted stock forfeited (in shares)	(30)	(4)	(1)
Balance, end of period (in shares)	27,613	25,897	24,983

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - Common Stock - At The Market Offering Program $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Class of Stock [Line Items]
Value of shares authorized	$ 500
Sale of stock, shares available for future issuance, value	$ 433.9

Stockholders' Equity - ATM Prog

Stockholders' Equity - ATM Program (Details) - Common Stock - At The Market Offering Program - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Shares issued (in shares)	1,385	600	823
Net proceeds received	$ 44.2	$ 20.5	$ 38.4
Average gross sales price per share (in dollars per share)	$ 32.56	$ 34.94	$ 47.68

Stockholders' Equity - Dividend

Stockholders' Equity - Dividends Declared (Details) - $ / shares									12 Months Ended
	Nov. 24, 2023	Aug. 25, 2023	May 26, 2023	Mar. 01, 2023	Nov. 25, 2022	Aug. 26, 2022	May 27, 2022	Mar. 01, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Dividends paid per common share (in dollars per share)	$ 0.4550	$ 0.4525	$ 0.4500	$ 0.4475	$ 0.4450	$ 0.4425	$ 0.4400	$ 0.4375	$ 1.805	$ 1.765	$ 1.725

Income Per Common Share (Detail

Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net income	$ 7,714	$ 22,019	$ 22,492
Participating securities' share in earnings	(2,619)	(2,847)	(2,314)
Net income, less participating securities' share in earnings	$ 5,095	$ 19,172	$ 20,178
Weighted Average Common Shares Outstanding
Weighted average common shares outstanding (in shares)	26,649	25,218	24,583
Unvested restricted stock (in shares)	(1,447)	(1,587)	(1,320)
Weighted average common shares outstanding–Basic (in shares)	25,202	23,631	23,263
Weighted average common shares–Basic (in shares)	25,202	23,631	23,263
Dilutive potential common shares (in shares)	0	0	0
Weighted average common shares outstanding –Diluted (in shares)	25,202	23,631	23,263
Basic Income per Common Share (in dollars per share)	$ 0.20	$ 0.81	$ 0.87
Diluted Income per Common Share (in dollars per share)	$ 0.20	$ 0.81	$ 0.87

Stock Incentive Plans - 2014 In

Stock Incentive Plans - 2014 Incentive Plan/Officer Incentive Program (Details)	12 Months Ended
	Dec. 31, 2023 shares
2014 Incentive Plan | Restricted Common Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2014 Incentive Plan | Restricted Common Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	8 years
2014 Incentive Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized, percentage of common stock outstanding	7%
Shares authorized to be issued (in shares)	1,812,822
Number of shares issued (in shares)	1,497,205
Numbers of shares remaining under plan (in shares)	315,617
Officer Incentive Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stockholder return performance period 1	3 years
Total stockholder return performance period 2	5 years

Stock Incentive Plans - Alignme

Stock Incentive Plans - Alignment of Interest Program (Details)	12 Months Ended
	Dec. 31, 2023 shares
2014 Incentive Plan | Restricted Common Stock | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of base salary deferred	100%
2014 Incentive Plan | Restricted Common Stock | Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of director fees deferred	100%
2014 Incentive Plan | Period 1 | Restricted Common Stock | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Company match vesting percentage	30%
2014 Incentive Plan | Period 1 | Restricted Common Stock | Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Company match vesting percentage	20%
2014 Incentive Plan | Period 2 | Restricted Common Stock | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Company match vesting percentage	50%
2014 Incentive Plan | Period 2 | Restricted Common Stock | Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years
Company match vesting percentage	40%
2014 Incentive Plan | Period 3 | Restricted Common Stock | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	8 years
Company match vesting percentage	100%
2014 Incentive Plan | Period 3 | Restricted Common Stock | Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Company match vesting percentage	60%
Common Stock | 2014 Incentive Plan, Restated Alignment Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized to be issued (in shares)	1,000,000
Number of shares issued (in shares)	666,335
Numbers of shares remaining under plan (in shares)	333,665
Common Stock | 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized to be issued (in shares)	1,812,822
Number of shares issued (in shares)	1,497,205
Numbers of shares remaining under plan (in shares)	315,617

Stock Incentive Plans - Summary

Stock Incentive Plans - Summary of Activity Under Incentive Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Common Stock | Chief Executive Officer
Weighted average grant date fair value, per share, of:
Accelerated vesting, number	624,725
2014 Incentive Plan | Restricted Common Stock
Stock-based awards:
Stock-based awards, beginning of year (in shares)	1,708,000	1,416,000	1,164,000
Granted (in shares)	361,000	318,000	273,000
Vested (in shares)	(692,000)	(22,000)	(20,000)
Forfeited (in shares)	(3,000)	(4,000)	(1,000)
Stock-based awards, end of year (in shares)	1,374,000	1,708,000	1,416,000
Weighted average grant date fair value, per share, of:
Stock-based awards, beginning of year (in dollars per share)	$ 37.43	$ 33.89	$ 31.04
Stock-based awards granted during the year (in dollars per share)	36.78	41.45	48.48
Stock-based awards vested during the year (in dollars per share)	35.38	23.54	26.52
Stock-based awards forfeited during the year (in dollars per share)	43.83	41.87	49.81
Stock-based awards, end of year (in dollars per share)	$ 36.45	$ 37.43	$ 33.89
Grant date fair value of shares granted during the year	$ 13,220	$ 13,232	$ 13,251
2014 Incentive Plan | Stock in lieu of compensation
Stock-based awards:
Granted (in shares)	141,000	116,000	96,000
2014 Incentive Plan | Stock awards
Stock-based awards:
Granted (in shares)	220,000	202,000	177,000

Stock Incentive Plans - Additio

Stock Incentive Plans - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Adjustments to additional paid in capital, share-based compensation and exercise of stock options	$ 26,800	$ 33,700
Accelerated amortization of stock-based compensation	$ 11,799	0	$ 0
Matching contribution, percent	3.50%
Matching contributions	$ 200	100	100
Restricted Common Stock | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting, number	624,725
Accelerated amortization of stock-based compensation	$ 11,800
2014 Incentive Plan | Restricted Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining contractual terms	5 years 9 months 25 days
Compensation expense	$ 20,000	$ 9,400	$ 7,200
2014 Incentive Plan | Restricted Common Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2014 Incentive Plan | Restricted Common Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	8 years

Other Assets, net - Schedule of

Other Assets, net - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Notes receivable	$ 30,775	$ 32,705
Straight-line rent receivables	18,481	15,429
Fair value of interest rate swaps	16,417	22,667
Accounts receivable	4,645	2,679
Sales-type lessor receivable	3,028	3,035
Above-market intangible assets, net	2,645	2,399
Financing lease right-of-use assets	2,486	2,545
Leasing commissions, net	2,312	1,848
Prepaid assets	1,203	980
Operating lease right of use assets	729	759
Other	684	496
Deferred financing costs, net	471	683
Deferred tax asset	0	306
Other assets, net	$ 83,876	$ 86,531
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets, net	Other assets, net

Other Assets, net - Narrative (

Other Assets, net - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) hospital	Dec. 31, 2022 USD ($)
Finite-Lived Intangible Assets [Line Items]
Notes receivable	$ 30,775,000	$ 32,705,000
Notes Receivable
Finite-Lived Intangible Assets [Line Items]
Note receivable interest rate	9%
Additional funding	$ 5,000,000
Non-cash interest rate	3%
Notes Receivable | Revolving Credit Facility
Finite-Lived Intangible Assets [Line Items]
Note receivable interest rate	9%
Notes Receivable | Note Receivable 1
Finite-Lived Intangible Assets [Line Items]
Notes receivable	$ 15,000,000
Payment received	$ 250,000
Note receivable interest rate	9%
Notes Receivable | Note Receivable 4
Finite-Lived Intangible Assets [Line Items]
Payment received	$ 40,000
Note Receivable 1 | Variable Interest Entity, Not Primary Beneficiary
Finite-Lived Intangible Assets [Line Items]
Notes receivable	6,000,000
Note Receivable 2 | Variable Interest Entity, Not Primary Beneficiary
Finite-Lived Intangible Assets [Line Items]
Notes receivable	17,000,000
Note Receivable 3 | Variable Interest Entity, Not Primary Beneficiary
Finite-Lived Intangible Assets [Line Items]
Notes receivable	5,435,000
Note Receivable 4 | Variable Interest Entity, Not Primary Beneficiary
Finite-Lived Intangible Assets [Line Items]
Notes receivable	$ 2,340,000
Long-term Acute Care Hospitals (LTACH) | Note Receivable 1
Finite-Lived Intangible Assets [Line Items]
Number of properties used to secure notes by borrower | hospital	7
Inpatient Rehabilitation Facilities (IRF) | Note Receivable 1
Finite-Lived Intangible Assets [Line Items]
Number of properties used to secure notes by borrower | hospital	1
Geriatric Behavioral Hospital
Finite-Lived Intangible Assets [Line Items]
Number of properties used to secure notes by borrower | hospital	6

Other Assets, net - VIEs (Detai

Other Assets, net - VIEs (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Notes receivable	$ 30,775	$ 32,705
Variable Interest Entity, Not Primary Beneficiary | Note Receivable 1
Variable Interest Entity [Line Items]
Notes receivable	6,000
Maximum Exposure to Loss	6,000
Variable Interest Entity, Not Primary Beneficiary | Note Receivable 2
Variable Interest Entity [Line Items]
Notes receivable	17,000
Maximum Exposure to Loss	17,000
Variable Interest Entity, Not Primary Beneficiary | Note Receivable 3
Variable Interest Entity [Line Items]
Notes receivable	5,435
Maximum Exposure to Loss	5,435
Variable Interest Entity, Not Primary Beneficiary | Note Receivable 4
Variable Interest Entity [Line Items]
Notes receivable	2,340
Maximum Exposure to Loss	$ 2,340

Other Liabilities, net (Details

Other Liabilities, net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Prepaid rent	$ 5,378	$ 3,853
Security deposits	3,765	5,766
Below-market lease intangibles, net	$ 3,188	$ 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 [Extensible List]	Other liabilities, net	Other liabilities, net
Operating lease liability	$ 775	$ 786
Other	485	478
Other liabilities, net	$ 16,868	$ 15,237

Intangible Assets and Liabili_3

Intangible Assets and Liabilities - Deferred Costs and Intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Deferred financing costs and lease intangibles, Gross	$ 106,963	$ 99,478
Deferred financing costs and lease intangibles, Accumulated Amortization	$ 77,465	68,223
Deferred financing costs and lease intangibles, Weighted Average Remaining Life	4 years 7 months 6 days
Other assets, net | Above-market lease intangibles
Finite-Lived Intangible Assets [Line Items]
Finite lived lease intangibles, Gross	$ 3,913	2,938
Finite lived lease intangibles, Accumulated Amortization	$ 1,268	539
Finite lived lease intangibles, Weighted Average Remaining Life	4 years 10 months 24 days
Other liabilities, net
Finite-Lived Intangible Assets [Line Items]
Below market lease intangibles, Gross	$ (5,521)	(2,779)
Below market lease intangibles, Accumulated Amortization	$ (2,333)	(1,703)
Below market lease intangibles, Weighted Average Remaining Life	4 years 8 months 12 days
Real estate properties | At-market lease intangibles
Finite-Lived Intangible Assets [Line Items]
Finite lived lease intangibles, Gross	$ 102,870	93,618
Finite lived lease intangibles, Accumulated Amortization	$ 74,865	66,320
Finite lived lease intangibles, Weighted Average Remaining Life	4 years 2 months 12 days
Revolving Credit Facility | Other assets, net
Finite-Lived Intangible Assets [Line Items]
Deferred financing costs, Gross	$ 3,042	3,042
Deferred financing costs, Accumulated Amortization	$ 2,571	2,359
Deferred financing costs, Weighted Average Remaining Life	2 years 3 months 18 days
Term Loan | Debt, net
Finite-Lived Intangible Assets [Line Items]
Deferred financing costs, Gross	$ 2,551	2,551
Deferred financing costs, Accumulated Amortization	$ 993	627
Deferred financing costs, Weighted Average Remaining Life	5 years
Mortgage Note Payable, net | Debt, net
Finite-Lived Intangible Assets [Line Items]
Deferred financing costs, Gross	$ 108	108
Deferred financing costs, Accumulated Amortization	$ 101	$ 81
Deferred financing costs, Weighted Average Remaining Life	3 months 18 days

Intangible Assets and Liabili_4

Intangible Assets and Liabilities - Amortization Expense (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) lease	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Finite-Lived Intangible Assets [Line Items]
Intangible amortization expense	$ 11,500	$ 9,000	$ 9,400
2024	9,891
2025	7,968
2026	4,718
2027	2,322
2028	1,516
GenesisCare
Finite-Lived Intangible Assets [Line Items]
Intangible amortization expense	$ 1,500
Number of leases | lease	2

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) project	Dec. 31, 2022 USD ($) project
Tenant Improvements Allowances
Other Commitments [Line Items]
Commitment	$ 10.9	$ 12
Redevelopment Projects
Other Commitments [Line Items]
Commitment	$ 3.5	$ 2.9
Number of projects | project	6	5
Capital Improvements
Other Commitments [Line Items]
Commitment	$ 5.8	$ 4.2

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable	$ 30,775	$ 32,705
Interest rate swap asset	16,417	22,667
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable	30,775	32,705
Mortgage note payable	4,821	4,947
Carrying Value | Interest Rate Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap asset	16,417	22,667
Fair Value | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable	31,199	32,716
Mortgage note payable	4,791	4,761
Fair Value | Interest Rate Swap | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap asset	$ 16,417	$ 22,667

Other Data - Narrative (Details

Other Data - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) taxable_reit_subsidiary shares	Dec. 31, 2022 shares
Other Data [Abstract]
Number Of TRS | taxable_reit_subsidiary	2
Gross real estate assets	$ 1,000,000,000
Preferred shares issued (in shares) | shares	0	0
Preferred shares dividends	$ 0

Other Data - Provision for Inco

Other Data - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Data [Abstract]
Current	$ 106	$ 97	$ 129
Deferred	306	41	167
Total income tax expense	412	138	296
Income tax payments, net of refunds	$ 80	$ 120	$ 109

Other Data - Deferred Tax Asset

Other Data - Deferred Tax Asset And Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Data [Abstract]
Deferred stock-based compensation	$ 5,709	$ 7,008
Net operating losses	1,987	1,349
Depreciation and amortization	45	35
Prepaid expenses	15	22
Total deferred tax assets	7,756	8,414
Valuation allowance	(2,141)	(1,406)
Deferred tax assets, net	5,615	7,008
Deferred administrative services fee	(5,613)	(6,702)
Other	(2)	0
Deferred tax liabilities	(5,615)	(6,702)
Net Deferred tax assets	0	$ 306
Federal
Income Tax Examination [Line Items]
Operating loss carryforwards subject to expire	300
Operating loss carryforwards not subject to expire	7,300
State
Income Tax Examination [Line Items]
Operating loss carryforwards subject to expire	$ 7,700

Other Data - Net Income Reconci

Other Data - Net Income Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Data [Abstract]
Net income	$ 7,714	$ 22,019	$ 22,492
Depreciation and amortization	15,773	11,493	11,121
Gain on sale of real estate	(647)	0	36
Straight-line rent	(3,157)	(3,265)	(3,522)
Receivable allowance	250	0	(25)
Stock-based compensation	(7,801)	5,681	3,872
Sec. 162(m) compensation disallowance	22,199	0	0
Deferred rent	1,351	61	1,196
Deferred income taxes	306	41	166
Other	(135)	(17)	(68)
Total reconciling items to taxable income	28,139	13,994	12,776
Taxable income	35,853	36,013	35,268
Dividends paid	$ 45,439	$ 41,642	$ 40,092

Other Data - Common Stock Distr

Other Data - Common Stock Distribution (Details) - $ / shares									12 Months Ended
	Nov. 24, 2023	Aug. 25, 2023	May 26, 2023	Mar. 01, 2023	Nov. 25, 2022	Aug. 26, 2022	May 27, 2022	Mar. 01, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Per Share
Ordinary income (in dollars per share)									$ 1.569469	$ 1.575094	$ 1.537982
Return of capital (in dollars per share)									0.235531	0.189906	0.175047
Capital gain (in dollars per share)									0	0	0.011971
Common stock distributions (in dollars per share)	$ 0.4550	$ 0.4525	$ 0.4500	$ 0.4475	$ 0.4450	$ 0.4425	$ 0.4400	$ 0.4375	$ 1.805	$ 1.765	$ 1.725
Percentage
Ordinary income									87%	89.20%	89.20%
Return of capital									13%	10.80%	10.10%
Capital gain									0%	0%	0.70%
Common stock distributions									100%	100%	100%

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) $ / shares in Units, $ in Millions				1 Months Ended	12 Months Ended
	Feb. 08, 2024 $ / shares	Jan. 12, 2024 shares	Jan. 04, 2024 shares	Feb. 13, 2024 USD ($) real_estate_property	Dec. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares	Dec. 31, 2021 $ / shares
Subsequent Event [Line Items]
Dividend declared (in dollars per share) | $ / shares					$ 1.805	$ 1.765	$ 1.725
Subsequent Event
Subsequent Event [Line Items]
Dividend declared (in dollars per share) | $ / shares	$ 0.4575
Number of real estate properties acquired | real_estate_property				1
Purchase Price | $				$ 6.5
Cash Consideration | $				$ 6.6
Percentage of properties that were leased at acquisition				100%
Restricted Common Stock | Subsequent Event
Subsequent Event [Line Items]
Restricted common stock granted (in shares)		79,533
Restricted Common Stock | Subsequent Event | Minimum
Subsequent Event [Line Items]
Vesting period		3 years
Restricted Common Stock | Subsequent Event | Maximum
Subsequent Event [Line Items]
Vesting period		8 years
Restricted Common Stock | Non-Executive Officer | Subsequent Event
Subsequent Event [Line Items]
Restricted common stock granted (in shares)		10,159
Vesting period		5 years
Stock in lieu of compensation | Subsequent Event
Subsequent Event [Line Items]
Restricted common stock granted (in shares)		43,292
Stock awards | Subsequent Event
Subsequent Event [Line Items]
Restricted common stock granted (in shares)		36,241
TIme-based RSUs | Subsequent Event
Subsequent Event [Line Items]
Restricted common stock granted (in shares)			33,623
TIme-based RSUs | Subsequent Event | Period 1
Subsequent Event [Line Items]
Award vesting rights, percentage			33%
TIme-based RSUs | Subsequent Event | Period 2
Subsequent Event [Line Items]
Award vesting rights, percentage			33%
TIme-based RSUs | Subsequent Event | Period 3
Subsequent Event [Line Items]
Award vesting rights, percentage			33%

Subsequent Events - Performance

Subsequent Events - Performance Based And Time Based Activity (Details) - Subsequent Event	Jan. 04, 2024 shares
Absolute TSR Performance-based RSUs
Subsequent Event [Line Items]
Number of RSUs granted (in shares)	56,561
Relative TSR Performance-based RSUs
Subsequent Event [Line Items]
Number of RSUs granted (in shares)	43,433
TIme-based RSUs
Subsequent Event [Line Items]
Number of RSUs granted (in shares)	33,623

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts - (Details) - Accounts receivable allowance - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 75	$ 75	$ 100
Charged to Costs and Expenses	250	9	(25)
Charged to Other Accounts	0	0	0
Uncollectible Accounts Written-off	0	(9)	0
Balance at End of Period	$ 325	$ 75	$ 75

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation - Real Estate Properties (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) real_estate_property hospital	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Properties | real_estate_property	193
Land and Land Improvements
Initial Investment	$ 132,825
Costs Capitalized Subsequent to Acquisition	3,707
Total	136,532
Buildings, Improvements, and Lease Intangibles
Initial Investment	856,728
Costs Capitalized Subsequent to Acquisition	56,688
Total	913,416
Personal Property	299	$ 253
Total Property	1,050,247	943,167	$ 834,085	$ 735,359
Accumulated depreciation	200,810	$ 165,341	$ 133,056	$ 102,899
Encumbrances (Principal balance)	4,821
Total real estate properties for federal income tax purposes	$ 1,000,000
Land improvements | Minimum
Buildings, Improvements, and Lease Intangibles
Property, Plant and Equipment, Useful Life (in years)	1 year
Land improvements | Maximum
Buildings, Improvements, and Lease Intangibles
Property, Plant and Equipment, Useful Life (in years)	20 years
Buildings | Minimum
Buildings, Improvements, and Lease Intangibles
Property, Plant and Equipment, Useful Life (in years)	7 years
Buildings | Maximum
Buildings, Improvements, and Lease Intangibles
Property, Plant and Equipment, Useful Life (in years)	50 years
Building improvements | Minimum
Buildings, Improvements, and Lease Intangibles
Property, Plant and Equipment, Useful Life (in years)	4 years 4 months 24 days
Building improvements | Maximum
Buildings, Improvements, and Lease Intangibles
Property, Plant and Equipment, Useful Life (in years)	39 years 9 months 18 days
Tenant improvements | Minimum
Buildings, Improvements, and Lease Intangibles
Property, Plant and Equipment, Useful Life (in years)	1 year 4 months 24 days
Tenant improvements | Maximum
Buildings, Improvements, and Lease Intangibles
Property, Plant and Equipment, Useful Life (in years)	15 years 1 month 6 days
Lease intangibles | Minimum
Buildings, Improvements, and Lease Intangibles
Property, Plant and Equipment, Useful Life (in years)	9 months 18 days
Lease intangibles | Maximum
Buildings, Improvements, and Lease Intangibles
Property, Plant and Equipment, Useful Life (in years)	13 years 8 months 12 days
Personal property | Minimum
Buildings, Improvements, and Lease Intangibles
Property, Plant and Equipment, Useful Life (in years)	3 years
Personal property | Maximum
Buildings, Improvements, and Lease Intangibles
Property, Plant and Equipment, Useful Life (in years)	10 years
Medical office buildings
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Properties | real_estate_property	93
Land and Land Improvements
Initial Investment	$ 69,950
Costs Capitalized Subsequent to Acquisition	2,873
Total	72,823
Buildings, Improvements, and Lease Intangibles
Initial Investment	317,305
Costs Capitalized Subsequent to Acquisition	43,816
Total	361,121
Personal Property	0
Total Property	433,944
Accumulated depreciation	97,265
Encumbrances (Principal balance)	$ 0
Acute Inpatient Behavioral
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Properties | real_estate_property	5
Land and Land Improvements
Initial Investment	$ 10,720
Costs Capitalized Subsequent to Acquisition	0
Total	10,720
Buildings, Improvements, and Lease Intangibles
Initial Investment	119,414
Costs Capitalized Subsequent to Acquisition	393
Total	119,807
Personal Property	0
Total Property	130,527
Accumulated depreciation	16,496
Encumbrances (Principal balance)	$ 4,821
Inpatient Rehabilitation Facilities (IRF)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Properties | real_estate_property	8
Land and Land Improvements
Initial Investment	$ 17,653
Costs Capitalized Subsequent to Acquisition	0
Total	17,653
Buildings, Improvements, and Lease Intangibles
Initial Investment	157,120
Costs Capitalized Subsequent to Acquisition	0
Total	157,120
Personal Property	0
Total Property	174,773
Accumulated depreciation	12,076
Encumbrances (Principal balance)	$ 0
Specialty Centers
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Properties | real_estate_property	37
Land and Land Improvements
Initial Investment	$ 13,498
Costs Capitalized Subsequent to Acquisition	192
Total	13,690
Buildings, Improvements, and Lease Intangibles
Initial Investment	95,390
Costs Capitalized Subsequent to Acquisition	2,759
Total	98,149
Personal Property	0
Total Property	111,839
Accumulated depreciation	25,796
Encumbrances (Principal balance)	$ 0
Physician Clinics (PC)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Properties | real_estate_property	30
Land and Land Improvements
Initial Investment	$ 12,062
Costs Capitalized Subsequent to Acquisition	502
Total	12,564
Buildings, Improvements, and Lease Intangibles
Initial Investment	71,721
Costs Capitalized Subsequent to Acquisition	3,025
Total	74,746
Personal Property	0
Total Property	87,310
Accumulated depreciation	24,551
Encumbrances (Principal balance)	$ 0
Surgical centers and hospitals
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Properties | real_estate_property	10
Land and Land Improvements
Initial Investment	$ 3,789
Costs Capitalized Subsequent to Acquisition	114
Total	3,903
Buildings, Improvements, and Lease Intangibles
Initial Investment	43,134
Costs Capitalized Subsequent to Acquisition	5,297
Total	48,431
Personal Property	0
Total Property	52,334
Accumulated depreciation	14,350
Encumbrances (Principal balance)	$ 0
Behavioral specialty facilities
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Properties | real_estate_property	9
Land and Land Improvements
Initial Investment	$ 4,717
Costs Capitalized Subsequent to Acquisition	26
Total	4,743
Buildings, Improvements, and Lease Intangibles
Initial Investment	39,629
Costs Capitalized Subsequent to Acquisition	680
Total	40,309
Personal Property	0
Total Property	45,052
Accumulated depreciation	4,899
Encumbrances (Principal balance)	$ 0
Long-term Acute Care Hospitals (LTACH)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Properties | real_estate_property	1
Land and Land Improvements
Initial Investment	$ 523
Costs Capitalized Subsequent to Acquisition	0
Total	523
Buildings, Improvements, and Lease Intangibles
Initial Investment	14,405
Costs Capitalized Subsequent to Acquisition	9
Total	14,414
Personal Property	0
Total Property	14,937
Accumulated depreciation	4,498
Encumbrances (Principal balance)	$ 0
Total Real Estate
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Properties | real_estate_property	193
Land and Land Improvements
Initial Investment	$ 132,912
Costs Capitalized Subsequent to Acquisition	3,707
Total	136,619
Buildings, Improvements, and Lease Intangibles
Initial Investment	858,118
Costs Capitalized Subsequent to Acquisition	55,979
Total	914,097
Personal Property	0
Total Property	1,050,716
Accumulated depreciation	199,931
Encumbrances (Principal balance)	$ 4,821
Sales-type lease
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Properties | hospital	0
Land and Land Improvements
Initial Investment	$ 87
Total	87
Buildings, Improvements, and Lease Intangibles
Initial Investment	3,401
Total	3,401
Total Property	$ 3,488
Corporate property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Properties | hospital	0
Land and Land Improvements
Initial Investment	$ 0
Costs Capitalized Subsequent to Acquisition	0
Total	0
Buildings, Improvements, and Lease Intangibles
Initial Investment	2,011
Costs Capitalized Subsequent to Acquisition	709
Total	2,720
Personal Property	299
Total Property	3,019
Accumulated depreciation	879
Encumbrances (Principal balance)	$ 0

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Reconciliation of Real Estate Properties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Total Property
Beginning Balance	$ 943,167	$ 834,085	$ 735,359
Acquisitions	101,856	96,729	90,385
Other improvements	18,561	12,353	9,520
Retirements, dispositions, and transfer to assets held for sale:
Real estate	(13,337)	0	(1,179)
Ending Balance	1,050,247	943,167	834,085
Accumulated Depreciation
Beginning Balance	165,341	133,056	102,899
Acquisitions	2,055	1,034	2,740
Other improvements	37,580	31,251	27,636
Retirements, dispositions, and transfer to assets held for sale:
Real estate	(4,166)	0	(219)
Ending Balance	$ 200,810	$ 165,341	$ 133,056