Community Healthcare Trust (CHCT) 10-Q30 Apr 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	Apr. 24, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-37401
Entity Registrant Name	Community Healthcare Trust Inc
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	46-5212033
Entity Address, Address Line One	3326 Aspen Grove Drive
Entity Address, Address Line Two	Suite 150
Entity Address, City or Town	Franklin
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37067
City Area Code	615
Local Phone Number	771-3052
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	CHCT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,701,196
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001631569
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Real estate properties
Land and land improvements	$ 142,120	$ 136,532
Buildings, improvements, and lease intangibles	948,253	913,416
Personal property	317	299
Total real estate properties	1,090,690	1,050,247
Less accumulated depreciation	(211,058)	(200,810)
Total real estate properties, net	879,632	849,437
Cash and cash equivalents	3,805	3,491
Restricted cash	1,141	1,142
Real estate properties held for sale	7,466	7,466
Other assets, net	90,657	83,876
Total assets	982,701	945,412
Liabilities
Debt, net	442,320	403,256
Accounts payable and accrued liabilities	11,775	12,032
Other liabilities, net	16,960	16,868
Total liabilities	471,055	432,156
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; 27,701 and 27,613 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	277	276
Additional paid-in capital	690,491	688,156
Cumulative net income	92,521	88,856
Accumulated other comprehensive income	21,490	16,417
Cumulative dividends	(293,133)	(280,449)
Total stockholders’ equity	511,646	513,256
Total liabilities and stockholders' equity	$ 982,701	$ 945,412

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
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)	27,701,000	27,613,000
Common stock, shares outstanding (in shares)	27,701,000	27,613,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
REVENUES
Rental income		$ 28,342	$ 26,128
Other operating interest		991	1,048
Total revenue		29,333	27,176
EXPENSES
Property operating		5,791	4,873
General and administrative	[1]	4,554	16,205
Depreciation and amortization		10,262	9,018
Total expenses		20,607	30,096
OTHER INCOME (EXPENSE)
Interest expense		(5,062)	(3,992)
Deferred income tax expense		0	(35)
Interest and other income		1	25
OTHER INCOME (EXPENSE)		(5,061)	(4,002)
NET INCOME (LOSS)		$ 3,665	$ (6,922)
NET INCOME (LOSS) PER COMMON SHARE
Net income per common share – basic (in dollars per share)		$ 0.11	$ (0.32)
Net income per common share – diluted (in dollars per share)		$ 0.11	$ (0.32)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-BASIC (in shares)		26,297	24,227
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-DILUTED (in shares)		26,297	24,227

[1] (1) General and administrative expenses for the three months ended March 31, 2024 included stock-based compensation expense totaling approximately $2.4 million. General and administrative expenses for the three months ended March 31, 2023 included stock-based compensation expense totaling approximately $14.3 million, including the accelerated amortization of stock-based compensation totaling approximately $11.8 million recognized upon the passing of our former CEO and President in the first quarter of 2023. See Note 9 – Stock Incentive Plan.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Stock-based compensation expense	$ 2,400	$ 14,300
Accelerated amortization of stock-based compensation	$ 0	$ 11,799

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ 3,665	$ (6,922)
Other comprehensive income (loss):
Increase (decrease) in fair value of cash flow hedges	7,870	(4,973)
Reclassification for amounts recognized as interest expense	(2,797)	(2,010)
Total other comprehensive income (loss)	5,073	(6,983)
COMPREHENSIVE INCOME (LOSS)	$ 8,738	$ (13,905)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid in Capital	Cumulative Net Income	Accumulated Other Comprehensive Income	Cumulative Dividends
Beginning balance (in shares) at Dec. 31, 2022		0
Beginning balance at Dec. 31, 2022	$ 496,814	$ 0	$ 259	$ 625,136	$ 81,142	$ 22,667	$ (232,390)
Balance, beginning of period (in shares) at Dec. 31, 2022	25,897,000		25,897,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs (in shares)			249,000
Issuance of common stock, net of issuance costs	$ 8,906		$ 3	8,903
Stock-based compensation, net of forfeitures (in shares)			128,000
Stock-based compensation, net of forfeitures	14,346		$ 1	14,345
Increase in fair value of cash flow hedges	(4,973)					(4,973)
Reclassification for amounts recognized as interest expense	(2,010)					(2,010)
Net income (loss)	(6,922)				(6,922)
Dividends to common stockholders	(11,646)						(11,646)
Ending balance (in shares) at Mar. 31, 2023		0
Ending balance at Mar. 31, 2023	494,515	$ 0	$ 263	648,384	74,220	15,684	(244,036)
Balance, end of period (in shares) at Mar. 31, 2023			26,274,000
Beginning balance (in shares) at Dec. 31, 2022		0
Beginning balance at Dec. 31, 2022	$ 496,814	$ 0	$ 259	625,136	81,142	22,667	(232,390)
Balance, beginning of period (in shares) at Dec. 31, 2022	25,897,000		25,897,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs (in shares)	1,385,000
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs (in shares)	19,000		19,000
Issuance of common stock, net of issuance costs	$ 463		$ 0	463
Stock-based compensation, net of forfeitures (in shares)			90,000
Stock-based compensation, net of forfeitures	2,424		$ 1	2,423
Shares withheld on vesting of stock-based compensation (in shares)			(21,000)
Shares withheld on vesting of stock-based compensation	(551)			(551)
Increase in fair value of cash flow hedges	7,870					7,870
Reclassification for amounts recognized as interest expense	(2,797)					(2,797)
Net income (loss)	3,665				3,665
Dividends to common stockholders	$ (12,684)						(12,684)
Ending balance (in shares) at Mar. 31, 2024	0	0
Ending balance at Mar. 31, 2024	$ 511,646	$ 0	$ 277	$ 690,491	$ 92,521	$ 21,490	$ (293,133)
Balance, end of period (in shares) at Mar. 31, 2024	27,701,000		27,701,000

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends to common stockholders, per share (in dollars per share)	$ 0.4575	$ 0.4475

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
OPERATING ACTIVITIES
Net income (loss)	$ 3,665	$ (6,922)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	10,262	9,018
Other amortization	217	265
Stock-based compensation	2,424	2,547
Accelerated amortization of stock-based compensation	0	11,799
Straight-line rent receivable	(755)	(917)
Deferred income tax expense	0	35
Changes in operating assets and liabilities:
Other assets	(2,056)	(2,390)
Accounts payable and accrued liabilities	(1,079)	133
Other liabilities	(35)	(870)
Net cash provided by operating activities	12,643	12,698
INVESTING ACTIVITIES
Acquisitions of real estate	(34,297)	(23,895)
Funding of notes receivable	0	(1,295)
Proceeds from the repayment of notes receivable	870	750
Capital expenditures on existing real estate properties	(5,113)	(4,138)
Net cash used in investing activities	(38,540)	(28,578)
FINANCING ACTIVITIES
Net borrowings on revolving credit facility	39,000	12,000
Mortgage note repayments	(32)	(32)
Dividends paid	(12,684)	(11,646)
Proceeds from issuance of common stock	540	8,215
Taxes paid on behalf of employees and shares withheld upon shares vesting	(551)	0
Equity issuance costs	(63)	(100)
Net cash provided by financing activities	26,210	8,437
Increase (decrease) in cash, cash equivalents and restricted cash	313	(7,443)
Cash, cash equivalents and restricted cash, beginning of period	4,633	12,068
Cash, cash equivalents and restricted cash, end of period	4,946	4,625
Supplemental Cash Flow Information:
Interest paid (net of capitalized interest)	4,790	3,866
Invoices accrued for construction, tenant improvement and other capitalized costs	4,591	3,274
Reclassification of registration statement costs incurred in prior years to equity issuance costs	72	52
Increase (decrease) in fair value of cash flow hedges	7,870	(4,973)
Income taxes paid	26	60
Capitalized interest	28	192
Net proceeds accrued for common stock issued in March with cash settlement in April	$ 0	$ 732

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2024
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 March 31, 2024, the Company had investments of approximately $1.1 billion in 197 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 an asset held for sale with an aggregate amount totaling approximately $7.5 million. See Note 10 – Other Assets, net and Note 4 – Real Estate Acquisitions and Dispositions, respectively). The properties are located in 35 states, totaling approximately 4.4 million square feet in the aggregate and were approximately 92.3% leased, excluding real estate assets held for sale, at March 31, 2024 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 Condensed Consolidated Financial Statements, are outside the scope of our independent registered public accounting firm's review. Basis of Presentation The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements. This interim financial information should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Management believes that all adjustments of a normal, recurring nature considered necessary for a fair presentation have been included. This interim financial information does not necessarily represent or indicate what the operating results will be for the year ending December 31, 2024. All intercompany accounts and transactions have been eliminated. Use of Estimates in the Condensed Consolidated Financial Statements Preparation of the Condensed Consolidated Financial Statements in accordance with GAAP requires management to make estimates and assumptions that affect amounts reported in the Condensed Consolidated Financial Statements and accompanying notes, 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. Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents includes short-term investments with original maturities of three months or less when purchased. Restricted cash consists of amounts held by the lender of our mortgage note payable to provide for future real estate tax, insurance expenditures and tenant improvements related to one property. The carrying amounts approximate fair value due to the short term maturity of these investments. The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Company's Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows: Balance as of March 31, (Dollars in thousands) 2024 2023 Cash and cash equivalents $ 3,805 $ 3,666 Restricted cash 1,141 959 Cash, cash equivalents and restricted cash $ 4,946 $ 4,625 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. The Company recognizes interest income on an accrual basis unless the Company determines that collectability of contractual amounts is not reasonably assured, at which point the note is placed on non-accrual status and interest income is recognized on a cash basis. 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 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 GAAP) and meet other requirements to continue to qualify as a REIT.

Real Estate Investments

Real Estate Investments	3 Months Ended
Real Estate Investments	Mar. 31, 2024
Real Estate [Abstract]
Real Estate Investments	REAL ESTATE INVESTMENTS As of March 31, 2024, we had investments of approximately $1.1 billion in 197 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 Company's investments are diversified by property type, geographic location, and tenant as shown in the following tables: Property Type # of Properties Gross Investment Medical Office Building 96 $ 469,475 Inpatient Rehabilitation Hospitals 8 174,772 Acute Inpatient Behavioral 5 130,528 Specialty Centers 37 117,807 Physician Clinics 30 87,873 Surgical Centers and Hospitals 10 54,181 Behavioral Specialty Facilities 9 45,051 Long-term Acute Care Hospitals 2 21,484 Total 197 $ 1,101,171 State # of Properties Gross Investment Texas 17 $ 162,944 Illinois 18 131,956 Ohio 26 114,169 Florida 25 109,490 Pennsylvania 15 59,531 All Others 96 523,081 Total 197 $ 1,101,171 Primary Tenant # of Properties Gross Investment Lifepoint Health 6 $ 105,862 US HealthVest 3 77,964 All Others (less than 4%) 188 917,345 Total 197 $ 1,101,171 GenesisCare Bankruptcy

Real Estate Leases

Real Estate Leases	3 Months Ended
Real Estate Leases	Mar. 31, 2024
Leases [Abstract]
Real Estate Leases	REAL ESTATE LEASES Lessor Accounting The Company’s properties are generally leased pursuant to non-cancelable, fixed-term operating leases with expiration dates through 2039. The Company’s leases generally require the lessee to pay minimum rent, with fixed rent renewal terms or increases based on a Consumer Price Index and may also include additional rent, which may include the reimbursement of taxes (including property taxes), insurance, maintenance and other operating costs associated with the leased property. Some leases provide the lessee, during the term of the lease, with an option or right of first refusal to purchase the leased property. Some leases also allow the lessee to renew or extend their lease term or in some cases terminate their lease, based on conditions provided in the lease. Future minimum lease payments under the non-cancelable operating leases due to the Company for the years ending December 31, as of March 31, 2024, are as follows (in thousands): 2024 (nine months ended December 31) $ 74,362 2025 93,815 2026 84,865 2027 77,227 2028 71,052 2029 and thereafter 381,758 $ 783,079 Rental income is recognized as earned over the life of the lease agreement on a straight-line basis when collection of rental payments over the term of the lease is probable. Straight-line rent included in rental income was approximately $0.8 million and $0.9 million, respectively, for the three months ended March 31, 2024 and 2023. Purchase Option Provisions Certain of the Company's leases provide the lessee with a purchase option or a right of first refusal to purchase the leased property. The purchase option provisions generally allow the lessee to purchase the leased property at fair value or at an amount greater than the Company's gross investment in the leased property at the time of the purchase. At March 31, 2024, the Company had an aggregate gross investment of approximately $37.2 million in 10 real estate properties with purchase options exercisable at March 31, 2024 that had not been exercised. Sales-type Lease The Company has a portion of one property accounted for as a sales-type lease with a gross amount totaling approximately $3.0 million included in other assets, net on the Company's Condensed Consolidated Balance Sheets. Future lease payments due to the Company under this lease for the years ending December 31, as of March 31, 2024, are as follows (in thousands): 2024 (nine months ended December 31) $ 261 2025 356 2026 367 2027 378 2028 389 2029 and thereafter 4,821 Total undiscounted lease receivable 6,572 Discount (3,547) Lease receivable $ 3,025 The Company recognized interest income of approximately $0.1 million during each of the three months ended March 31, 2024 and 2023 related to this lease which is included in other operating interest on the Company's Condensed Consolidated Statements of Income. Lessee Accounting At March 31, 2024, the Company was obligated, as the lessee, under four non-prepaid ground leases accounted for as operating leases with expiration dates, including renewal options, through 2076, and two non-prepaid ground leases accounted for as financing leases with expiration dates through 2109, including renewal options. Any rental increases related to the Company's ground leases are generally either stated or based on the Consumer Price Index. The Company's future lease payments under these non-prepaid ground leases were as follows (in thousands): Operating Financing 2024 (nine months ended December 31) $ 32 $ 115 2025 44 154 2026 44 154 2027 45 154 2028 46 154 2029 and thereafter $ 1,102 $ 6,802 Total undiscounted lease payments 1,313 7,533 Discount (541) (4,260) Lease liabilities $ 772 $ 3,273 The following table discloses other information regarding the ground leases. Three Months Ended 2024 2023 Operating leases: Weighted-average remaining lease term in years (including renewal options) 34.8 36.0 Weighted-average discount rate 4.0 % 4.0 % Financing leases: Weighted-average remaining lease term in years (including renewal options) 39.6 40.6 Weighted-average discount rate 4.2 % 4.2 %

Real Estate Acquisitions And Di

Real Estate Acquisitions And Dispositions	3 Months Ended
Real Estate Acquisitions And Dispositions	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Real Estate Acquisitions and Dispositions	REAL ESTATE ACQUISITIONS AND DISPOSITIONS Acquisitions During the first quarter of 2024, the Company acquired four real estate properties in three transactions. Upon acquisition, the properties were 98.6% leased in the aggregate with lease expirations through 2039. Amounts reflected in revenues and net income for these properties for the three months ended March 31, 2024 were approximately $0.2 million and $0.1 million, respectively, and transaction costs totaling approximately $0.3 million were capitalized relating to these property acquisitions. The following table summarizes our property acquisitions for the three months ended March 31, 2024: Location Property Type (1) Number of Properties Date Purchase Cash Real Estate Other (2) Square Footage (000's) (000's) (000's) (000's) New Bedford, MA LTACH 1 1/31/24 $ 6,500 $ 6,540 $ 6,547 $ (7) 70,657 Elkton, MD MOB 1 3/25/24 4,500 4,578 4,757 (179) 19,656 Bemidji, MN MOB 2 3/29/24 23,200 23,179 23,375 (196) 74,700 $ 34,200 $ 34,297 $ 34,679 $ (382) 165,013 (1) LTACH - Long-term Acute Care Hospital; MOB - Medical Office Building (2) Includes other assets acquired, liabilities assumed, and above and below-market intangibles recognized at acquisition The following table summarizes the relative fair values of the assets acquired and liabilities assumed in the property acquisitions for the three months ended March 31, 2024: Relative Estimated (in thousands) (in years) Land and land improvements $ 4,597 5.1 Building and building improvements 27,538 26.7 Intangibles: At-market lease intangibles 2,544 3.6 Above-market lease intangibles 121 5.0 Below-market lease intangibles (275) 2.0 Total intangibles 2,390 Accounts payable, accrued liabilities and other liabilities assumed (194) Accounts receivable and other assets acquired 48 Prorated rent, interest and operating expense reimbursement amounts collected (82) Total cash consideration $ 34,297 Assets Held for Sale The Company had two properties classified as held for sale as of March 31, 2024. The table below reflects the assets and liabilities classified as held for sale as of March 31, 2024 and December 31, 2023. (Dollars in thousands) March 31, 2024 December 31, 2023 Balance Sheet data: Land $ 1,576 $ 1,576 Building, improvements, and lease intangibles 10,056 10,056 11,632 11,632 Accumulated depreciation (4,166) (4,166) Real estate assets held for sale, net $ 7,466 $ 7,466

Debt, net

Debt, net	3 Months Ended
Debt, net	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt, net	DEBT, NET The table below details the Company's debt as of March 31, 2024 and December 31, 2023. Balance as of (Dollars in thousands) March 31, 2024 December 31, 2023 Maturity Dates Credit Facility: Revolving Credit Facility $ 89,000 $ 50,000 3/26 A-3 Term Loan, net 74,761 74,730 3/26 A-4 Term Loan, net 124,550 124,522 3/28 A-5 Term Loan, net 149,222 149,189 3/30 Mortgage Note Payable, net 4,787 4,815 5/24 $ 442,320 $ 403,256 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, 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. The Credit Facility allows the Company to borrow, through the accordion feature, up to $700.0 million, including the ability to add and fund incremental term loans. The Company's material subsidiaries are guarantors of the obligations under the Credit Facility. Amounts outstanding under the Revolving Credit Facility will bear interest at a floating rate based on the Company's option, on either: (i) adjusted term SOFR or adjusted daily simple SOFR plus 1.25% to 1.90% or (ii) a base rate plus 0.25% to 0.90% in each case, depending upon the Company’s leverage ratio. In addition, the Company is obligated to pay an annual fee equal to 0.20% of the amount of the unused portion of the Revolving Credit Facility if amounts borrowed are greater than 33.3% of the borrowing capacity under the Revolving Credit Facility and 0.25% of the unused portion of the Revolving Credit Facility if amounts borrowed are less than or equal to 33.3% of the borrowing capacity under the Revolving Credit Facility. The Company had $89.0 million outstanding under the Revolving Credit Facility with a weighted average interest rate of 7.06% and a borrowing capacity remaining of $61.0 million at March 31, 2024. Amounts outstanding under the Term Loans will bear interest at a floating rate that is based, at the Company's option, on either (i) adjusted term SOFR or adjusted daily SOFR plus 1.65% 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 March 31, 2024, the Company had $350.0 million outstanding under the Term Loans which had a fixed weighted average interest rate under the swaps of approximate ly 4.4% . 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 March 31, 2024. Mortgage Note Payable The Company's mortgage note payable is secured by a building which had a $7.1 million carrying balance at March 31, 2024. The mortgage note amortizes monthly at a fixed interest rate of 4.98% with a balloon payment of approximately $4.8 million due upon maturity on May 1, 2024.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
Derivative Financial Instruments	Mar. 31, 2024
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. On March 29, 2024, two interest rate swaps matured and were replaced with two forward-starting interest rate swaps for notional amounts totaling $50.0 million. As of March 31, 2024, the Company had fifteen 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 2026 and 2030, at the maturity dates of the associated term loans (see Note 5 – Debt, net). Tabular Disclosure of Fair Value of Derivative Instruments on the Balance Sheet The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023. Asset Derivatives Fair Value at Liability Derivatives Fair Value at (Dollars in thousands) March 31, 2024 December 31, 2023 Balance Sheet Classification March 31, 2024 December 31, 2023 Balance Sheet Classification Interest rate swaps $ 21,490 $ 16,417 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 $9.2 million will be reclassified from AOCI as a decrease to interest expense. Tabular Disclosure of the Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three months ended March 31, 2024 and 2023. Three Months Ended (Dollars in thousands) 2024 2023 Amount of unrealized gain (loss) recognized in OCI on derivative $ 7,870 $ (4,973) Amount of gain reclassified from AOCI into interest expense $ (2,797) $ (2,010) Total interest expense presented in the Condensed Consolidated Statements of Income in which the effects of the cash flow hedges are recorded $ 5,062 $ 3,992 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 March 31, 2024 and December 31, 2023. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the Condensed Consolidated Balance Sheets. Offsetting of Derivative Assets (as of March 31, 2024) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Assets in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ 21,490 $ — $ 21,490 $ — $ — $ 21,490 Offsetting of Derivative Liabilities (as of March 31, 2024) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ — $ — $ — $ — $ — $ — Offsetting of Derivative Assets (as of December 31, 2023) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Assets in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ 16,417 $ — $ 16,417 $ — $ — $ 16,417 Offsetting of Derivative Liabilities (as of December 31, 2023) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ — $ — $ — $ — $ — $ — Credit-risk-related Contingent Features As of March 31, 2024, the Company did not have any derivatives in a net liability position. As of March 31, 2024, the Company had not posted any collateral related to these agreements and was not in breach of any agreement provisions. If the Company terminated these interest rate swaps or breached any of these provisions, it could have been required to settle its obligations under the agreements at their aggregate termination value.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Mar. 31, 2024
Equity [Abstract]
Stockholders' Equity	STOCKHOLDERS' EQUITY Common Stock The following table provides a reconciliation of the beginning and ending common stock balances for the three months ended March 31, 2024 and for the year ended December 31, 2023: (In thousands) Three Months Ended Year Ended Balance, beginning of period 27,613 25,897 Issuance of common stock 19 1,385 Restricted stock issued 90 361 Restricted stock withheld and forfeited (21) (30) Balance, end of period 27,701 27,613 ATM Program The Company has an at-the-market offering program ("ATM Program"), with Piper Sandler & Co., Evercore Group L.L.C., Truist Securities, Inc., Regions Securities LLC, Robert W. Baird & Co. Incorporated, Fifth Third Securities, Inc. and Janney Montgomery Scott LLC, as sales agents (collectively, the “Agents”). Under the ATM Program, the Company may issue and sell shares of its common stock, having an aggregate gross sales price of up to $500.0 million. The shares of common stock may be sold from time to time through or to one or more of the Agents, as may be determined by the Company in its sole discretion, subject to the terms and conditions of the agreement and applicable law. The Company's activity under the ATM Program during the three months ended March 31, 2024 is detailed in the table below. As of March 31, 2024, the Company had approximately $433.3 million remaining that may be issued under the ATM Program. Three Months Ended Shares issued ( in thousands ) 19 Net proceeds received ( in millions) $0.5 Average gross sales price per share $27.51

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	3 Months Ended
Net Income (Loss) Per Common Share	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	NET INCOME (LOSS) PER COMMON SHARE The following table sets forth the computation of basic and diluted net income (loss) per common share for the three months ended March 31, 2024 and 2023, respectively. Three Months Ended (In thousands, except per share data) 2024 2023 Net income (loss) $ 3,665 $ (6,922) Participating securities' share in earnings (647) (822) Net income (loss), less participating securities' share in earnings $ 3,018 $ (7,744) Weighted average Common Shares outstanding Weighted average Common Shares outstanding 27,680 26,043 Unvested restricted shares (1,383) (1,816) Weighted average Common Shares outstanding–Basic 26,297 24,227 Dilutive potential common shares — — Weighted average Common Shares outstanding –Diluted 26,297 24,227 Basic Net Income (Loss) per Common Share $ 0.11 $ (0.32) Diluted Net Income (Loss) per Common Share $ 0.11 $ (0.32)

Stock Incentive Plan

Stock Incentive Plan	3 Months Ended
Stock Incentive Plan	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock Incentive Plan	STOCK INCENTIVE PLAN A summary of the restricted stock activity under the Company's 2014 Incentive Plan, as amended, for the three months ended March 31, 2024 and 2023 is included in the table below, as well as compensation expense recognized from the amortization of the value of shares over the applicable vesting periods. Three Months Ended (Dollars and shares in thousands) 2024 2023 Stock-based awards, beginning of period 1,374 1,708 Stock in lieu of compensation 43 62 Stock awards 47 67 Total stock granted 90 129 Vested shares (1) (84) — Forfeited shares — (1) Stock-based awards, end of period 1,380 1,836 Amortization expense (1) $ 2,107 $ 14,346 ___________ 1) Amortization expense for the three months ended March 31, 2023 included accelerated amortization totaling approximately $11.8 million upon the passing of our former CEO and President. Accelerated Amortization of Restricted Stock The Company's former CEO and President, Timothy Wallace, passed away in March 2023. At the time of his passing, Mr. Wallace had 624,725 shares of restricted stock that had not been fully amortized. In accordance with the terms of his employment agreement, the Company accelerated the unamortized remaining balance of deferred compensation related to his unvested shares and recognized an additional $11.8 million of amortization expense in the first quarter of 2023. Amendment to the 2014 Incentive Plan, Updates to Compensation Programs, and Issuance of RSUs On January 2, 2024, the Company's Board approved and adopted a fourth amendment to the 2014 Incentive Plan that provided 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 superseded the Second Amended and Restated Alignment of Interest Program. The Third Alignment of Interest Program implemented (i) a maximum elective deferral percentage amount of salary and bonus to 50% to the acquisition of restricted stock for certain participants in the program (previously 100%), and (ii) limited the duration of the restriction period election depending on the retirement eligibility date per their employment agreements. These changes were effective beginning January 1, 2024 for salary and other compensation deferrals and will be effective for 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 superseded the Second Amended and Restated Executive Officer Program, other than with respect to the individual and company performance awards for the performance period running from July 1, 2023 to June 30, 2024. The Third Executive Officer Incentive Program allows for the grant of RSUs. The Company historically granted long-term incentive awards to its executive officers which was comprised of restricted stock that vested in 8 years, based on backward-looking performance metrics. On January 2, 2024, the Board approved and adopted a new incentive compensation structure for its executive officers, including the issuance of time-based and performance-based RSUs with three-year forward-looking performance targets beginning with an initial performance period beginning July 1, 2023. On January 2, 2024, the Company granted performance-based and time-based RSUs to its executive officers under the 2014 Incentive Plan and the Third Executive Officer Incentive Program. These RSUs with a grant date value totaling $2.6 million are forward-looking with a three-year performance period beginning July 1, 2023. The performance-based RSUs were valued by independent specialists utilizing a Monte Carlo simulation to calculate the weighted average grant date fair values of $13.67 per share for the Absolute TSR units and $20.77 per share for the Relative TSR units. The grant date fair value of the Time-based TSR units was based on the Company's stock price on the grant date of $26.62. The combined weighted average grant date fair value of the RSUs granted was $19.24 per share. The following assumptions were used in valuing the performance-based RSUs: Volatility 25.0 % Dividend assumption 5.4 % Expected term 3 years Risk-free rate 4.3 % Stock price (per share) $ 26.62 A summary of the Company's RSU activity during the three months ended March 31, 2024 and 2023, respectively, is included in the table below, as well as compensation expense recognized from the amortization of the value of RSUs over the applicable vesting periods. Three Months Ended March 31, (Dollars and RSUs in thousands) 2024 2023 Restricted Stock Units, beginning of period — — Absolute TSR Performance-based RSUs granted 57 — Relative TSR Performance-based RSUs granted 43 — Time-based RSUs granted 34 — Total RSUs granted 134 — Vested RSUs — — Forfeited RSUs — — Restricted Stock Units, end of period 134 — Amortization expense $ 317 $ — Grant Date Value Remaining at period end to be Amortized During the Performance Period $ 2,253 $ — ______________ (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. The Performance-based RSUs, if earned, will vest at the end of the performance period. (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, 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 stock to its employees, in lieu of salary, that will cliff vest between three Adoption of the 2024 Incentive Plan On March 4, 2024, the Company's Compensation Committee and Board of Directors adopted and approved the 2024 Incentive Plan (the "Plan"). On April 17, 2024, the Company's Board of Directors adopted and approved an amendment to the Plan to remove a sentence related to reload options. The Plan, as amended, is subject to approval by our stockholders at the annual meeting. The 2024 Incentive Plan, if approved, will replace our 2014 Incentive Plan which expired on March 31, 2024. The Plan, which will expire on March 4, 2034, implements several changes including, among others, the following: • Freezes all awards under the 2014 Incentive Plan as of its expiration date; • Removes the "evergreen provision" which allowed for the incremental automatic increase in the number of shares of common stock reserved for issuance under the Plan; • Increases the number of shares of common stock authorize for issuance under the Plan to 1,150,000; and • Expands the types of awards that may be awarded under the Plan.

Other Assets, net

Other Assets, net	3 Months Ended
Other Assets, net	Mar. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets, net	OTHER ASSETS, NET Other assets, net on the Company's Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 are detailed in the table below. Balance as of (Dollars in thousands) March 31, 2024 December 31, 2023 Notes receivable $ 29,905 $ 30,775 Fair value of interest rate swaps 21,490 16,417 Straight-line rent receivables 19,236 18,481 Accounts receivable 6,255 4,645 Sales-type lessor receivable 3,025 3,028 Above-market intangible assets, net 2,560 2,645 Leasing commissions, net 2,498 2,312 Financing lease right-of-use assets 2,471 2,486 Prepaid assets 1,429 1,203 Operating lease right of use assets 721 729 Other 649 684 Deferred financing costs, net 418 471 $ 90,657 $ 83,876 The Company's notes receivable mainly included: • At March 31, 2024 and December 31, 2023, notes receivable included a $5.3 million and $6.0 million, respectively, term loan, secured by all assets and ownership interests in seven long-term acute care hospitals and one inpatient rehabilitation hospital owned by the borrower. The term loan will be repaid in equal monthly installments of $250,000 through the maturity date of December 31, 2025 and bears interest at 9% per annum. • At March 31, 2024 and December 31, 2023, notes receivable included a fully-funded term loan totaling $17.0 million and a revolving credit facility with $5.4 million drawn, secured by assets and ownership interests of six geriatric behavioral hospitals and affiliated companies all of which are co-borrowers on the loans. At March 31, 2024, the Company had an unfunded commitment of $3.1 million on the revolving credit facility and an unfunded commitment of up to $2.0 million on an advancing term loan facility. The term loan bears interest at 9% per annum, with interest only payments due initially and then equal monthly installments of principal payments due beginning March 31, 2025. 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. The advancing term loan may be funded at the Company's discretion, and bears interest at 9% per annum on any amount funded, that may be used by the borrower to pay existing liabilities of co-borrowers. The term loan, the revolving credit facility and the additional commitment all include a 3% per annum non-cash interest charge that is due and payable upon the earlier of the repayment or maturity of each note. • At March 31, 2024 and December 31, 2023, notes receivable also included a $2.2 million and $2.3 million, respectively, revolving credit facility. Commencing on October 1, 2023, the revolving credit facility will be repaid in equal monthly installments of $40,000 through the maturity date of April 1, 2027. The revolving credit facility bears interest at 9% per annum, as well as a 3% per annum non-cash interest charge that is due and payable upon the earlier of the repayment or maturity of the note. The Company identified the borrowers of these notes as variable interest entities ("VIEs"), but management determined that the Company was not the primary beneficiary of the VIEs because we lack either directly or through related parties any material decision-making rights or control of the entities that impact the borrowers' economic performance. We are not obligated to provide support beyond our stated commitment to the borrowers, and accordingly our maximum exposure to loss as a result of this relationship is limited to the amount of our outstanding notes receivable. The VIEs that we have identified at March 31, 2024 are summarized in the table below. Classification Carrying Amount (in thousands) Maximum Exposure to Loss (in thousands) Note receivable (term loan) $ 5,250 $ 5,250 Note receivable (revolving credit facility) $ 5,435 $ 5,435 Note receivable (term loan) $ 17,000 $ 17,000 Note receivable (revolving credit facility) $ 2,220 $ 2,220

Other Liabilities, net

Other Liabilities, net	3 Months Ended
Other Liabilities, net	Mar. 31, 2024
Other Liabilities Disclosure [Abstract]
Other Liabilities, net	OTHER LIABILITIES, NET Other liabilities, net on the Company's Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 are detailed in the table below. Balance as of (Dollars in thousands) March 31, 2024 December 31, 2023 Prepaid rent $ 5,442 $ 5,378 Security deposits 3,789 3,765 Below-market lease intangibles, net 3,185 3,188 Financing lease liability 3,273 3,277 Operating lease liability 772 775 Other 499 485 $ 16,960 $ 16,868

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
Fair Value of Financial Instruments	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practical to estimate the fair value. Cash and cash equivalents and restricted cash - The carrying amount approximates the fair value. The fair value estimates were determined using level 1 inputs. Notes receivable - The fair value is estimated using cash flow analyses, based on an assumed market rate of interest or at a rate consistent with the rates on notes carried by the Company and are classified as level 2 inputs in the hierarchy. Borrowings under our Credit Facility - The carrying amount approximates the fair value because the borrowings are based on variable market interest rates. The fair value estimates were determined using level 2 inputs. Derivative financial instruments (Interest rate swaps) - The fair value is estimated using discounted cash flow techniques. These techniques incorporate primarily level 2 inputs. The market inputs are utilized in the discounted cash flow calculation considering the instrument’s term, notional amount, discount rate and credit risk. Significant inputs to the derivative valuation model for interest rate swaps are observable in active markets and are classified as level 2 inputs in the hierarchy. Mortgage note payable - The fair value is estimated using cash flow analyses which are based on an assumed market rate of interest or at a rate consistent with the rates on mortgage notes assumed by the Company and are classified as level 2 inputs in the hierarchy. The table below details the fair values and carrying values for our notes receivable, interest rate swaps, and mortgage note payable at March 31, 2024 and December 31, 2023, using level 2 inputs. March 31, 2024 December 31, 2023 (Dollars in thousands) Carrying Value Fair Value Carrying Value Fair Value Notes receivable $ 29,905 $ 30,738 $ 30,775 $ 31,199 Interest rate swap asset $ 21,490 $ 21,490 $ 16,417 $ 16,417 Mortgage note payable (principal amount) $ 4,788 $ 4,787 $ 4,821 $ 4,791

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2024
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 March 31, 2024, the Company had approximately $22.5 million in commitments for tenant improvements. Seven of these projects totaling $15.8 million, represent 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 March 31, 2024, the Company had commitments of approximately $5.6 million 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.

Subsequent Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Dividend Declared On April 25, 2024, the Company’s Board of Directors declared a quarterly common stock dividend in the amount of $0.46 per share. The dividend is payable on May 24, 2024 to stockholders of record on May 10, 2024. Subsequent Acquisitions

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 3,665	$ (6,922)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
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)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements. This interim financial information should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Management believes that all adjustments of a normal, recurring nature considered necessary for a fair presentation have been included. This interim financial information does not necessarily represent or indicate what the operating results will be for the year ending December 31, 2024. All intercompany accounts and transactions have been eliminated.
Use of Estimates in the Condensed Consolidated Financial Statements	Use of Estimates in the Condensed Consolidated Financial Statements Preparation of the Condensed Consolidated Financial Statements in accordance with GAAP requires management to make estimates and assumptions that affect amounts reported in the Condensed Consolidated Financial Statements and accompanying notes, 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.
Cash and Cash Equivalents	Cash and 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 amounts approximate fair value due to the short term maturity of these investments.
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. The Company recognizes interest income on an accrual basis unless the Company determines that collectability of contractual amounts is not reasonably assured, at which point the note is placed on non-accrual status and interest income is recognized on a cash basis.
Income Taxes	Income Taxes The Company has elected to be taxed as a real estate investment trust ("REIT"), as defined under the Internal Revenue Code of 1986, as amended (the "Code"). The Company and two subsidiaries have also elected for those 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 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 GAAP) and meet other requirements to continue to qualify as a REIT.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
Summary of Significant Accounting Policies (Tables)	Mar. 31, 2024
Accounting Policies [Abstract]
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 Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows: Balance as of March 31, (Dollars in thousands) 2024 2023 Cash and cash equivalents $ 3,805 $ 3,666 Restricted cash 1,141 959 Cash, cash equivalents and restricted cash $ 4,946 $ 4,625
Restrictions on Cash and Cash Equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Company's Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows: Balance as of March 31, (Dollars in thousands) 2024 2023 Cash and cash equivalents $ 3,805 $ 3,666 Restricted cash 1,141 959 Cash, cash equivalents and restricted cash $ 4,946 $ 4,625

Real Estate Investments (Tables

Real Estate Investments (Tables)	3 Months Ended
Real Estate Investments (Tables)	Mar. 31, 2024
Real Estate [Abstract]
Schedule of Real Estate Property Investments	The Company's investments are diversified by property type, geographic location, and tenant as shown in the following tables: Property Type # of Properties Gross Investment Medical Office Building 96 $ 469,475 Inpatient Rehabilitation Hospitals 8 174,772 Acute Inpatient Behavioral 5 130,528 Specialty Centers 37 117,807 Physician Clinics 30 87,873 Surgical Centers and Hospitals 10 54,181 Behavioral Specialty Facilities 9 45,051 Long-term Acute Care Hospitals 2 21,484 Total 197 $ 1,101,171 State # of Properties Gross Investment Texas 17 $ 162,944 Illinois 18 131,956 Ohio 26 114,169 Florida 25 109,490 Pennsylvania 15 59,531 All Others 96 523,081 Total 197 $ 1,101,171 Primary Tenant # of Properties Gross Investment Lifepoint Health 6 $ 105,862 US HealthVest 3 77,964 All Others (less than 4%) 188 917,345 Total 197 $ 1,101,171

Real Estate Leases (Tables)

Real Estate Leases (Tables)	3 Months Ended
Real Estate Leases (Tables)	Mar. 31, 2024
Leases [Abstract]
Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases	Future minimum lease payments under the non-cancelable operating leases due to the Company for the years ending December 31, as of March 31, 2024, are as follows (in thousands): 2024 (nine months ended December 31) $ 74,362 2025 93,815 2026 84,865 2027 77,227 2028 71,052 2029 and thereafter 381,758 $ 783,079
Schedule of Lease Receivables	Future lease payments due to the Company under this lease for the years ending December 31, as of March 31, 2024, are as follows (in thousands): 2024 (nine months ended December 31) $ 261 2025 356 2026 367 2027 378 2028 389 2029 and thereafter 4,821 Total undiscounted lease receivable 6,572 Discount (3,547) Lease receivable $ 3,025
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 (nine months ended December 31) $ 32 $ 115 2025 44 154 2026 44 154 2027 45 154 2028 46 154 2029 and thereafter $ 1,102 $ 6,802 Total undiscounted lease payments 1,313 7,533 Discount (541) (4,260) Lease liabilities $ 772 $ 3,273
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 (nine months ended December 31) $ 32 $ 115 2025 44 154 2026 44 154 2027 45 154 2028 46 154 2029 and thereafter $ 1,102 $ 6,802 Total undiscounted lease payments 1,313 7,533 Discount (541) (4,260) Lease liabilities $ 772 $ 3,273
Schedule of Ground Leases	The following table discloses other information regarding the ground leases. Three Months Ended 2024 2023 Operating leases: Weighted-average remaining lease term in years (including renewal options) 34.8 36.0 Weighted-average discount rate 4.0 % 4.0 % Financing leases: Weighted-average remaining lease term in years (including renewal options) 39.6 40.6 Weighted-average discount rate 4.2 % 4.2 %

Real Estate Acquisitions And _2

Real Estate Acquisitions And Dispositions (Tables)	3 Months Ended
Real Estate Acquisitions And Dispositions (Tables)	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Schedule of Property Acquisitions	The following table summarizes our property acquisitions for the three months ended March 31, 2024: Location Property Type (1) Number of Properties Date Purchase Cash Real Estate Other (2) Square Footage (000's) (000's) (000's) (000's) New Bedford, MA LTACH 1 1/31/24 $ 6,500 $ 6,540 $ 6,547 $ (7) 70,657 Elkton, MD MOB 1 3/25/24 4,500 4,578 4,757 (179) 19,656 Bemidji, MN MOB 2 3/29/24 23,200 23,179 23,375 (196) 74,700 $ 34,200 $ 34,297 $ 34,679 $ (382) 165,013 (1) LTACH - Long-term Acute Care Hospital; MOB - Medical Office Building (2) Includes other assets acquired, liabilities assumed, and above and below-market intangibles recognized at acquisition
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the relative fair values of the assets acquired and liabilities assumed in the property acquisitions for the three months ended March 31, 2024: Relative Estimated (in thousands) (in years) Land and land improvements $ 4,597 5.1 Building and building improvements 27,538 26.7 Intangibles: At-market lease intangibles 2,544 3.6 Above-market lease intangibles 121 5.0 Below-market lease intangibles (275) 2.0 Total intangibles 2,390 Accounts payable, accrued liabilities and other liabilities assumed (194) Accounts receivable and other assets acquired 48 Prorated rent, interest and operating expense reimbursement amounts collected (82) Total cash consideration $ 34,297
Schedule of Assets and Liabilities Classified as Held for Sale	The table below reflects the assets and liabilities classified as held for sale as of March 31, 2024 and December 31, 2023. (Dollars in thousands) March 31, 2024 December 31, 2023 Balance Sheet data: Land $ 1,576 $ 1,576 Building, improvements, and lease intangibles 10,056 10,056 11,632 11,632 Accumulated depreciation (4,166) (4,166) Real estate assets held for sale, net $ 7,466 $ 7,466

Debt, net (Tables)

Debt, net (Tables)	3 Months Ended
Debt, net (Tables)	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt	The table below details the Company's debt as of March 31, 2024 and December 31, 2023. Balance as of (Dollars in thousands) March 31, 2024 December 31, 2023 Maturity Dates Credit Facility: Revolving Credit Facility $ 89,000 $ 50,000 3/26 A-3 Term Loan, net 74,761 74,730 3/26 A-4 Term Loan, net 124,550 124,522 3/28 A-5 Term Loan, net 149,222 149,189 3/30 Mortgage Note Payable, net 4,787 4,815 5/24 $ 442,320 $ 403,256

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
Derivative Financial Instruments (Tables)	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Instruments on Balance Sheet	The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023. Asset Derivatives Fair Value at Liability Derivatives Fair Value at (Dollars in thousands) March 31, 2024 December 31, 2023 Balance Sheet Classification March 31, 2024 December 31, 2023 Balance Sheet Classification Interest rate swaps $ 21,490 $ 16,417 Other assets, net $ — $ — Other liabilities, net Offsetting of Derivative Assets (as of March 31, 2024) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Assets in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ 21,490 $ — $ 21,490 $ — $ — $ 21,490 Offsetting of Derivative Liabilities (as of March 31, 2024) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ — $ — $ — $ — $ — $ — Offsetting of Derivative Assets (as of December 31, 2023) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Assets in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ 16,417 $ — $ 16,417 $ — $ — $ 16,417 Offsetting of Derivative Liabilities (as of December 31, 2023) Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets (In thousands) Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheet Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Amount Derivatives $ — $ — $ — $ — $ — $ —
Schedule of Cash Flow Hedging	The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three months ended March 31, 2024 and 2023. Three Months Ended (Dollars in thousands) 2024 2023 Amount of unrealized gain (loss) recognized in OCI on derivative $ 7,870 $ (4,973) Amount of gain reclassified from AOCI into interest expense $ (2,797) $ (2,010) Total interest expense presented in the Condensed Consolidated Statements of Income in which the effects of the cash flow hedges are recorded $ 5,062 $ 3,992

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
Stockholders' Equity (Tables)	Mar. 31, 2024
Equity [Abstract]
Schedule of Reconciliation of Common Stock	The following table provides a reconciliation of the beginning and ending common stock balances for the three months ended March 31, 2024 and for the year ended December 31, 2023: (In thousands) Three Months Ended Year Ended Balance, beginning of period 27,613 25,897 Issuance of common stock 19 1,385 Restricted stock issued 90 361 Restricted stock withheld and forfeited (21) (30) Balance, end of period 27,701 27,613
Schedule of ATM Program	As of March 31, 2024, the Company had approximately $433.3 million remaining that may be issued under the ATM Program. Three Months Ended Shares issued ( in thousands ) 19 Net proceeds received ( in millions) $0.5 Average gross sales price per share $27.51

Net Income (Loss) Per Common _2

Net Income (Loss) Per Common Share (Tables)	3 Months Ended
Net Income (Loss) Per Common Share (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Net Income Per Share	The following table sets forth the computation of basic and diluted net income (loss) per common share for the three months ended March 31, 2024 and 2023, respectively. Three Months Ended (In thousands, except per share data) 2024 2023 Net income (loss) $ 3,665 $ (6,922) Participating securities' share in earnings (647) (822) Net income (loss), less participating securities' share in earnings $ 3,018 $ (7,744) Weighted average Common Shares outstanding Weighted average Common Shares outstanding 27,680 26,043 Unvested restricted shares (1,383) (1,816) Weighted average Common Shares outstanding–Basic 26,297 24,227 Dilutive potential common shares — — Weighted average Common Shares outstanding –Diluted 26,297 24,227 Basic Net Income (Loss) per Common Share $ 0.11 $ (0.32) Diluted Net Income (Loss) per Common Share $ 0.11 $ (0.32)

Stock Incentive Plan (Tables)

Stock Incentive Plan (Tables)	3 Months Ended
Stock Incentive Plan (Tables)	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Valuation Assumptions	The following assumptions were used in valuing the performance-based RSUs: Volatility 25.0 % Dividend assumption 5.4 % Expected term 3 years Risk-free rate 4.3 % Stock price (per share) $ 26.62
Schedule of Nonvested Restricted Stock Activity	A summary of the restricted stock activity under the Company's 2014 Incentive Plan, as amended, for the three months ended March 31, 2024 and 2023 is included in the table below, as well as compensation expense recognized from the amortization of the value of shares over the applicable vesting periods. Three Months Ended (Dollars and shares in thousands) 2024 2023 Stock-based awards, beginning of period 1,374 1,708 Stock in lieu of compensation 43 62 Stock awards 47 67 Total stock granted 90 129 Vested shares (1) (84) — Forfeited shares — (1) Stock-based awards, end of period 1,380 1,836 Amortization expense (1) $ 2,107 $ 14,346 ___________ 1) Amortization expense for the three months ended March 31, 2023 included accelerated amortization totaling approximately $11.8 million upon the passing of our former CEO and President. A summary of the Company's RSU activity during the three months ended March 31, 2024 and 2023, respectively, is included in the table below, as well as compensation expense recognized from the amortization of the value of RSUs over the applicable vesting periods. Three Months Ended March 31, (Dollars and RSUs in thousands) 2024 2023 Restricted Stock Units, beginning of period — — Absolute TSR Performance-based RSUs granted 57 — Relative TSR Performance-based RSUs granted 43 — Time-based RSUs granted 34 — Total RSUs granted 134 — Vested RSUs — — Forfeited RSUs — — Restricted Stock Units, end of period 134 — Amortization expense $ 317 $ — Grant Date Value Remaining at period end to be Amortized During the Performance Period $ 2,253 $ — ______________ (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. The Performance-based RSUs, if earned, will vest at the end of the performance period. (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, 2026.

Other Assets, net (Tables)

Other Assets, net (Tables)	3 Months Ended
Other Assets, net (Tables)	Mar. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets, net on the Company's Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 are detailed in the table below. Balance as of (Dollars in thousands) March 31, 2024 December 31, 2023 Notes receivable $ 29,905 $ 30,775 Fair value of interest rate swaps 21,490 16,417 Straight-line rent receivables 19,236 18,481 Accounts receivable 6,255 4,645 Sales-type lessor receivable 3,025 3,028 Above-market intangible assets, net 2,560 2,645 Leasing commissions, net 2,498 2,312 Financing lease right-of-use assets 2,471 2,486 Prepaid assets 1,429 1,203 Operating lease right of use assets 721 729 Other 649 684 Deferred financing costs, net 418 471 $ 90,657 $ 83,876
Schedule of VIEs	The VIEs that we have identified at March 31, 2024 are summarized in the table below. Classification Carrying Amount (in thousands) Maximum Exposure to Loss (in thousands) Note receivable (term loan) $ 5,250 $ 5,250 Note receivable (revolving credit facility) $ 5,435 $ 5,435 Note receivable (term loan) $ 17,000 $ 17,000 Note receivable (revolving credit facility) $ 2,220 $ 2,220

Other Liabilities, net (Tables)

Other Liabilities, net (Tables)	3 Months Ended
Other Liabilities, net (Tables)	Mar. 31, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Other Liabilities	Other liabilities, net on the Company's Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 are detailed in the table below. Balance as of (Dollars in thousands) March 31, 2024 December 31, 2023 Prepaid rent $ 5,442 $ 5,378 Security deposits 3,789 3,765 Below-market lease intangibles, net 3,185 3,188 Financing lease liability 3,273 3,277 Operating lease liability 772 775 Other 499 485 $ 16,960 $ 16,868

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
Fair Value of Financial Instruments (Tables)	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, by Balance Sheet Grouping	The table below details the fair values and carrying values for our notes receivable, interest rate swaps, and mortgage note payable at March 31, 2024 and December 31, 2023, using level 2 inputs. March 31, 2024 December 31, 2023 (Dollars in thousands) Carrying Value Fair Value Carrying Value Fair Value Notes receivable $ 29,905 $ 30,738 $ 30,775 $ 31,199 Interest rate swap asset $ 21,490 $ 21,490 $ 16,417 $ 16,417 Mortgage note payable (principal amount) $ 4,788 $ 4,787 $ 4,821 $ 4,791

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands, ft² in Millions	Mar. 31, 2024 USD ($) ft² real_estate_property state	Dec. 31, 2023 USD ($)
Accounting Policies [Abstract]
Total real estate properties \| $	$ 1,101,171
Number of real estate properties \| real_estate_property	197
Number of properties held for investment in financing lease \| real_estate_property	1
Lease receivable \| $	$ 3,025	$ 3,028
Number of properties held for sale \| real_estate_property	2
Disposal property \| $	$ 7,500
Number of states \| state	35
Area of real estate property (in square feet) \| ft²	4.4
Percentage leased	92.30%
Remaining lease term	6 years 10 months 24 days

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 3,805	$ 3,491	$ 3,666
Restricted cash	1,141	1,142	959
Cash, cash equivalents and restricted cash	$ 4,946	$ 4,633	$ 4,625	$ 12,068

Real Estate Investments - Addit

Real Estate Investments - Additional Information (Details) $ in Thousands	Mar. 31, 2024 USD ($) real_estate_property	Feb. 16, 2024 lease	Dec. 31, 2023 USD ($)
Real Estate Properties [Line Items]
Total real estate properties	$ 1,101,171
Number of real estate properties \| real_estate_property	197
Number of properties held for investment in financing lease \| real_estate_property	1
Lease receivable	$ 3,025		$ 3,028
Number of properties held for sale \| real_estate_property	2
Disposal property	$ 7,500
Genesis Care
Real Estate Properties [Line Items]
Number of leases \| lease		7
Number of leases assigned \| lease		5
Number of leases remaining \| lease		2
Held for sale
Real Estate Properties [Line Items]
Disposal property	$ 7,500

Real Estate Investments - Sched

Real Estate Investments - Schedule of Real Estate Property Investments (Details) $ in Thousands	Mar. 31, 2024 USD ($) real_estate_property
Real Estate Properties [Line Items]
Number of real estate properties \| real_estate_property	197
Total real estate properties \| $	$ 1,101,171
Lifepoint Health
Real Estate Properties [Line Items]
Number of real estate properties \| real_estate_property	6
Total real estate properties \| $	$ 105,862
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	188
Total real estate properties \| $	$ 917,345
Texas
Real Estate Properties [Line Items]
Number of real estate properties \| real_estate_property	17
Total real estate properties \| $	$ 162,944
Illinois
Real Estate Properties [Line Items]
Number of real estate properties \| real_estate_property	18
Total real estate properties \| $	$ 131,956
Ohio
Real Estate Properties [Line Items]
Number of real estate properties \| real_estate_property	26
Total real estate properties \| $	$ 114,169
Florida
Real Estate Properties [Line Items]
Number of real estate properties \| real_estate_property	25
Total real estate properties \| $	$ 109,490
Pennsylvania
Real Estate Properties [Line Items]
Number of real estate properties \| real_estate_property	15
Total real estate properties \| $	$ 59,531
All Others
Real Estate Properties [Line Items]
Number of real estate properties \| real_estate_property	96
Total real estate properties \| $	$ 523,081
Medical Office Building
Real Estate Properties [Line Items]
Number of real estate properties \| real_estate_property	96
Total real estate properties \| $	$ 469,475
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 \| $	$ 117,807
Physician Clinics
Real Estate Properties [Line Items]
Number of real estate properties \| real_estate_property	30
Total real estate properties \| $	$ 87,873
Surgical Centers and Hospitals
Real Estate Properties [Line Items]
Number of real estate properties \| real_estate_property	10
Total real estate properties \| $	$ 54,181
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	2
Total real estate properties \| $	$ 21,484

Real Estate Leases - Future Min

Real Estate Leases - Future Minimum Lease Payments Under Non-cancelable Operating Leases (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Leases [Abstract]
2024 (nine months ended December 31)	$ 74,362
2025	93,815
2026	84,865
2027	77,227
2028	71,052
2029 and thereafter	381,758
Total	$ 783,079

Real Estate Leases - Additional

Real Estate Leases - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) lease real_estate_property	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Concentration Risk [Line Items]
Straight line rent	$ 755	$ 917
Real estate investment property, net	$ 879,632		$ 849,437
Number of real estate properties \| real_estate_property	197
Number of properties held for investment in financing lease \| real_estate_property	1
Lease receivable	$ 3,025		$ 3,028
Interest income	$ 100	$ 100
Number of operating leases \| lease	4
Number of finance leases \| lease	2
Four Real Estate Property
Concentration Risk [Line Items]
Real estate investment property, net	$ 37,200
Number of real estate properties \| real_estate_property	10

Real Estate Leases - Lease Rece

Real Estate Leases - Lease Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
2024 (nine months ended December 31)	$ 261
2025	356
2026	367
2027	378
2028	389
2029 and thereafter	4,821
Total undiscounted lease receivable	6,572
Discount	(3,547)
Lease receivable	$ 3,025	$ 3,028

Real Estate Leases - Future Lea

Real Estate Leases - Future Lease Payments Under Non-prepaid Ground Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Operating
2024 (nine months ended December 31)	$ 32
2025	44
2026	44
2027	45
2028	46
2029 and thereafter	1,102
Total undiscounted lease payments	1,313
Discount	(541)
Lease liabilities	772	$ 775
Financing
2024 (nine months ended December 31)	115
2025	154
2026	154
2027	154
2028	154
2029 and thereafter	6,802
Total undiscounted lease payments	7,533
Discount	(4,260)
Lease liabilities	$ 3,273	$ 3,277

Real Estate Leases - Ground Lea

Real Estate Leases - Ground Leases (Details)	Mar. 31, 2024	Mar. 31, 2023
Operating leases:
Weighted-average remaining lease term in years (including renewal options)	34 years 9 months 18 days	36 years
Weighted-average discount rate	4%	4%
Financing leases:
Weighted-average remaining lease term in years (including renewal options)	39 years 7 months 6 days	40 years 7 months 6 days
Weighted-average discount rate	4.20%	4.20%

Real Estate Acquisitions And _3

Real Estate Acquisitions And Dispositions - Additional Information (Details) - Acquisitions Of Properties During Q1 2024 $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) real_estate_property
Business Acquisition [Line Items]
Number of real estate properties acquired \| real_estate_property	4
Percentage of properties that were leased at acquisition (in percent)	98.60%
Pro forma information, revenue of acquiree since acquisition date, actual	$ 0.2
Pro forma information, income of acquiree since acquisition date, actual	0.1
Transaction costs	$ 0.3

Real Estate Acquisitions And _4

Real Estate Acquisitions And Dispositions - Summary of Property Acquisitions (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) ft²
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square footage (in square feet) \| ft²	4,400,000
Acquisitions Of Properties During Q1 2024 \| New Bedford, MA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 6,500
Cash Consideration	6,540
Real Estate	6,547
Other	$ (7)
Square footage (in square feet) \| ft²	70,657
Acquisitions Of Properties During Q1 2024 \| Elkton, MD
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 4,500
Cash Consideration	4,578
Real Estate	4,757
Other	$ (179)
Square footage (in square feet) \| ft²	19,656
Acquisitions Of Properties During Q1 2024 \| Bemidji, MN
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 23,200
Cash Consideration	23,179
Real Estate	23,375
Other	$ (196)
Square footage (in square feet) \| ft²	74,700
Acquisitions Of Properties During 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 34,200
Cash Consideration	34,297
Real Estate	34,679
Other	$ (382)
Square footage (in square feet) \| ft²	165,013

Real Estate Acquisitions And _5

Real Estate Acquisitions And Dispositions - Assets Acquired and Liabilities Assumed (Details) - Series of Individually Immaterial Asset Acquisitions $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Business Acquisition [Line Items]
Land and land improvements	$ 4,597
Building and building improvements	27,538
Intangibles:
Below-market lease intangibles	$ (275)
Below market lease useful life (in years)	2 years
Total intangibles	$ 2,390
Accounts payable, accrued liabilities and other liabilities assumed	(194)
Accounts receivable and other assets acquired	48
Prorated rent, interest and operating expense reimbursement amounts collected	(82)
Total cash consideration	34,297
At-market lease intangibles
Intangibles:
Lease intangibles	$ 2,544
Intangibles useful life (in years)	3 years 7 months 6 days
Above-market lease intangibles
Intangibles:
Lease intangibles	$ 121
Intangibles useful life (in years)	5 years
Land and land improvements
Business Acquisition [Line Items]
Estimated useful life (in years)	5 years 1 month 6 days
Building and building improvements
Business Acquisition [Line Items]
Estimated useful life (in years)	26 years 8 months 12 days

Real Estate Acquisitions And _6

Real Estate Acquisitions And Dispositions - Schedule of Assets and Liabilities Classified as Held for Sale (Details) - Held for sale - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Real estate assets held for sale, net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate assets held for sale, gross	$ 11,632	$ 11,632
Accumulated depreciation	(4,166)	(4,166)
Real estate assets held for sale, net	7,466	7,466
Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate assets held for sale, gross	1,576	1,576
Building, improvements, and lease intangibles
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate assets held for sale, gross	$ 10,056	$ 10,056

Debt, net - Schedule of Debt (D

Debt, net - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt, net	$ 442,320	$ 403,256
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	4,787	4,815
Revolving Credit Facility \| Line of Credit \| Third Amended And Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	89,000	50,000
A-3 Term Loan, net \| Term Loan \| Third Amended And Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	74,761	74,730
A-4 Term Loan, net \| Term Loan \| Third Amended And Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	124,550	124,522
A-5 Term Loan, net \| Term Loan \| Third Amended And Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	$ 149,222	$ 149,189

Debt, net - Additional Informat

Debt, net - Additional Information (Details)	3 Months Ended
Debt, net - Additional Information (Details)	Mar. 31, 2024 USD ($) option	Dec. 31, 2023 USD ($)
Line of Credit Facility [Line Items]
Debt, net	$ 442,320,000	$ 403,256,000
Real estate investment property, net	879,632,000	849,437,000
Mortgage Note Payable, net
Line of Credit Facility [Line Items]
Debt, net	$ 4,787,000	4,815,000
Fixed interest rate (in percent)	4.98%
Debt instrument, balloon payment to be paid	$ 4,800,000
Mortgage Note Payable, net \| Building
Line of Credit Facility [Line Items]
Real estate investment property, net	7,100,000
Third Amended And Restated Credit Facility \| Term Loan
Line of Credit Facility [Line Items]
Debt, net	$ 350,000,000
Weighted average interest rate percentage	4.40%
Third Amended And Restated Credit Facility \| Term Loan \| SOFR \| Minimum
Line of Credit Facility [Line Items]
Variable rate percentage	1.65%
Third Amended And Restated Credit Facility \| Term Loan \| SOFR \| Maximum
Line of Credit Facility [Line Items]
Variable rate percentage	2.30%
Third Amended And Restated Credit Facility \| Term Loan \| Base Rate \| Minimum
Line of Credit Facility [Line Items]
Variable rate percentage	0.65%
Third Amended And Restated Credit Facility \| Term Loan \| Base Rate \| Maximum
Line of Credit Facility [Line Items]
Variable rate percentage	1.30%
Third Amended And Restated Credit Facility \| Term Loan \| Simple Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Maximum
Line of Credit Facility [Line Items]
Variable rate percentage	0.10%
Third Amended And Restated Credit Facility \| Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 150,000,000
Number of options to extend \| option	1
Length of extension	12 months
Debt, net	$ 89,000,000	50,000,000
Remaining borrowing capacity	$ 61,000,000
Weighted average interest rate percentage	7.06%
Third Amended And Restated Credit Facility \| Revolving Credit Facility \| Line of Credit \| SOFR \| Minimum
Line of Credit Facility [Line Items]
Variable rate percentage	1.25%
Third Amended And Restated Credit Facility \| Revolving Credit Facility \| Line of Credit \| SOFR \| Maximum
Line of Credit Facility [Line Items]
Variable rate percentage	1.90%
Third Amended And Restated Credit Facility \| Revolving Credit Facility \| Line of Credit \| Base Rate \| Minimum
Line of Credit Facility [Line Items]
Variable rate percentage	0.25%
Third Amended And Restated Credit Facility \| Revolving Credit Facility \| Line of Credit \| Base Rate \| Maximum
Line of Credit Facility [Line Items]
Variable rate percentage	0.90%
Third Amended And Restated Credit Facility \| Term Loan \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 350,000,000
Third Amended And Restated Credit Facility \| A-4 Term Loan, net \| Term Loan
Line of Credit Facility [Line Items]
Debt term (in years)	7 years
Face amount	$ 125,000,000
Debt, net	$ 124,550,000	124,522,000
Third Amended And Restated Credit Facility \| A-3 Term Loan, net \| Term Loan
Line of Credit Facility [Line Items]
Debt term (in years)	7 years
Face amount	$ 75,000,000
Debt, net	$ 74,761,000	74,730,000
Third Amended And Restated Credit Facility \| A-5 Term Loan, net \| Term Loan
Line of Credit Facility [Line Items]
Debt term (in years)	7 years 3 months
Face amount	$ 150,000,000
Debt, net	149,222,000	$ 149,189,000
Third Amended And Restated Credit Facility \| Credit Facility, Accordion Feature
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 700,000,000
Third Amended And Restated Credit Facility \| Revolving Credit Facility, Unused Borrowing Capacity Rate 1 \| Line of Credit
Line of Credit Facility [Line Items]
Unused borrowing commitment fee percentage	0.20%
Percentage of borrowing capacity outstanding	33.30%
Third Amended And Restated Credit Facility \| Revolving Credit Facility, Unused Borrowing Capacity Rate 2 \| Line of Credit
Line of Credit Facility [Line Items]
Unused borrowing commitment fee percentage	0.25%
Percentage of borrowing capacity outstanding	33.30%

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) derivative_instrument	Mar. 29, 2024 derivative_instrument
Derivative [Line Items]
Cash flow hedges reclassified to interest expense	$ 9.2
Cash Flow Hedging \| Interest Rate Contract
Derivative [Line Items]
Number outstanding interest rate derivatives \| derivative_instrument	15
Notional amount	$ 350
Cash Flow Hedging \| Interest Rate Swap
Derivative [Line Items]
Number outstanding interest rate derivatives \| derivative_instrument		2
Notional amount	$ 50

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Fair Value Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Interest rate swap asset	$ 21,490	$ 16,417
Interest rate swap liability	$ 0	$ 0
Derivative asset, statement of financial position [Extensible Enumeration]	Other assets, net	Other assets, net
Derivative liability, statement of financial position [Extensible Enumeration]	Other liabilities, net	Other liabilities, net
Cash Flow Hedging \| Interest rate swaps \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Interest rate swap asset	$ 21,490	$ 16,417
Interest rate swap liability	$ 0	$ 0

Derivative Financial Instrume_5

Derivative Financial Instruments - Schedule of Cash Flow Hedging (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
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 (loss) recognized in OCI on derivative	$ 7,870	$ (4,973)
Total interest expense presented in the Condensed Consolidated Statements of Income in which the effects of the cash flow hedges are recorded	5,062	3,992
Interest Rate Contract \| Cash Flow Hedging \| Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain reclassified from AOCI into interest expense	$ (2,797)	$ (2,010)

Derivative Financial Instrume_6

Derivative Financial Instruments - Schedule of Offsetting of Derivative Assets and Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivative Asset [Abstract]
Gross Amounts of Recognized Assets	$ 21,490	$ 16,417
Gross Amounts Offset in the Condensed Consolidated Balance Sheet	0	0
Net Amounts of Assets in the Condensed Consolidated Balance Sheets	21,490	16,417
Gross amounts not offset in the condensed consolidated balance sheets, financial instruments	0	0
Gross amounts not offset in the condensed consolidated balance sheets, net amount	0	0
Gross amounts not offset in the condensed consolidated balance sheets, cash collateral received	21,490	16,417
Derivative Liability [Abstract]
Gross Amounts of Recognized Liabilities	0	0
Gross Amounts Offset in the Condensed Consolidated Balance Sheet	0	0
Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets	0	0
Gross amounts not offset in the condensed consolidated balance sheets, financial instruments	0	0
Gross amounts not offset in the condensed consolidated balance sheets, cash collateral received	0	0
Gross amounts not offset in the condensed consolidated balance sheets, net amount	$ 0	$ 0

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Reconciliation of Common Stock (Details) - shares shares in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period (in shares)	27,613	25,897
Issuance of common stock (in shares)	19	1,385
Restricted stock issued (in shares)	90	361
Restricted stock withheld and forfeited (in shares)	(21)	(30)
Balance, end of period (in shares)	27,701	27,613

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - At The Market Offering Program - Common Stock $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Subsidiary, Sale of Stock [Line Items]
Value of shares authorized	$ 500
Shares available for issuance	$ 433.3

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of ATM Program (Details) - Common Stock - At The Market Offering Program $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Class of Stock [Line Items]
Shares issued (in shares) \| shares	19
Net proceeds received \| $	$ 0.5
Average gross sales price per share (in dollars per share) \| $ / shares	$ 27.51

Net Income (Loss) Per Common _3

Net Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net income (loss)	$ 3,665	$ (6,922)
Participating securities' share in earnings	(647)	(822)
Net income (loss), less participating securities' share in earnings	$ 3,018	$ (7,744)
Weighted average Common Shares outstanding
Weighted average common shares outstanding (in shares)	27,680	26,043
Unvested restricted shares (in shares)	(1,383)	(1,816)
Weighted average common shares outstanding – basic (in shares)	26,297	24,227
Weighted average common shares–Basic (in shares)	26,297	24,227
Dilutive potential common share (in shares)	0	0
Weighted average common shares outstanding –diluted (in shares)	26,297	24,227
Basic net income per common share (in dollars per share)	$ 0.11	$ (0.32)
Diluted net income per common share (in dollars per share)	$ 0.11	$ (0.32)

Stock Incentive Plan - Schedule

Stock Incentive Plan - Schedule of Nonvested Restricted Stock Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stock-based awards:
Stock-based compensation expense	$ 2,400	$ 14,300
2014 Incentive Plan \| Restricted Common Stock
Stock-based awards:
Stock-based awards, beginning of period (in shares)	1,374,000	1,708,000
Granted (in shares)	90,000	129,000
Vested (in shares)	(84,000)	0
Forfeited (in shares)	0	(1,000)
Stock-based awards, end of period (in shares)	1,380,000	1,836,000
Stock-based compensation expense	$ 2,107	$ 14,346
2014 Incentive Plan \| Stock in lieu of compensation
Stock-based awards:
Granted (in shares)	43,292	62,000
2014 Incentive Plan \| Stock awards
Stock-based awards:
Granted (in shares)	47,000	67,000

Stock Incentive Plan - Addition

Stock Incentive Plan - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		12 Months Ended
	Jan. 12, 2024	Jan. 02, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Mar. 04, 2024	Jan. 01, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated amortization of stock-based compensation			$ 0	$ 11,799
2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee percentage of salary (in percent)		50%					100%
2024 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)						1,150,000
Restricted Common Stock \| 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					8 years
Granted (in shares)			90,000	129,000
Restricted Common Stock \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	79,533
Restricted Common Stock \| Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Granted (in shares)	10,159
Restricted Common Stock \| Minimum \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Restricted Common Stock \| Maximum \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	8 years
RSU \| 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		3 years
Granted (in shares)			134,000	0
Absolute TSR Units \| 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			57,000	0
Relative TSR Units \| 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			43,000	0
Time-Based TSR Units \| 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			34,000	0
Stock in lieu of compensation \| 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			43,292	62,000
Restricted period \| 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			36,241
Former CEO and President \| Restricted Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, accelerated vesting (in shares)				624,725
Accelerated amortization of stock-based compensation				$ 11,800
Executive Officer \| RSU \| 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		3 years
Fair value of shares granted		$ 2,600
Weighted average grant date fair value (in dollar per share)		$ 19.24
Executive Officer \| Absolute TSR Units \| 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollar per share)		13.67
Executive Officer \| Relative TSR Units \| 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollar per share)		20.77
Executive Officer \| Time-Based TSR Units \| 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollar per share)		$ 26.62

Stock Incentive Plan - Schedu_2

Stock Incentive Plan - Schedule of Valuation Assumptions (Details) - Performance Based Restricted Stock Units - 2014 Incentive Plan	Jan. 02, 2024 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	25%
Dividend assumption	5.40%
Expected term	3 years
Risk-free rate	4.30%
Stock price (in dollars per share)	$ 26.62

Stock Incentive Plan - Schedu_3

Stock Incentive Plan - Schedule of RSU Activity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Amortization expense	$ 2,400	$ 14,300
Grant Date Value Remaining at period end to be Amortized During the Performance Period	$ 2,253	$ 0
RSU \| 2014 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Stock-based awards, beginning of period (in shares)	0	0
Granted (in shares)	134	0
Vested RSUs (in shares)	0	0
Forfeited RSUs (in shares)	0	0
Stock-based awards, end of period (in shares)	134	0
Amortization expense	$ 317	$ 0
RSU \| 2014 Incentive Plan \| Share-Based Payment Arrangement, Tranche One
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Vesting percentage	33%
RSU \| 2014 Incentive Plan \| Share-Based Payment Arrangement, Tranche Two
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Vesting percentage	33%
RSU \| 2014 Incentive Plan \| Share-Based Payment Arrangement, Tranche Three
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Vesting percentage	33%
Absolute TSR Units \| 2014 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)	57	0
Relative TSR Units \| 2014 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)	43	0
Time-Based TSR Units \| 2014 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)	34	0

Other Assets, net - Schedule of

Other Assets, net - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Notes receivable	$ 29,905	$ 30,775
Financing lease right-of-use assets	21,490	16,417
Straight-line rent receivables	19,236	18,481
Accounts receivable	6,255	4,645
Lease receivable	3,025	3,028
Prepaid assets	2,560	2,645
Above-market intangible assets, net	2,498	2,312
Other	2,471	2,486
Accounts receivable	1,429	1,203
Deferred financing costs, net	721	729
Deferred tax asset	649	684
Sales-type lessor receivable	418	471
Other assets, net	$ 90,657	$ 83,876
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets, net	Other assets, net

Other Assets, net - Additional

Other Assets, net - Additional Information (Details)	3 Months Ended
Other Assets, net - Additional Information (Details)	Mar. 31, 2024 USD ($) hospital	Dec. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	$ 29,905,000	$ 30,775,000
Note receivable (term loan) \| Variable Interest Entity, Not Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	$ 5,250,000
Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable interest rate	9%
Non-cash interest rate	3%
Notes Receivable \| Note receivable (term loan)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	$ 5,300,000	6,000,000
Payment received	$ 250,000
Note receivable interest rate	9%
Notes Receivable \| Note receivable (revolving credit facility)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment received	$ 40,000
Note receivable (term loan) \| Unfunded Loan Commitment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	2,000,000
Note receivable (term loan) \| Variable Interest Entity, Not Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	17,000,000	17,000,000
Note receivable (revolving credit facility) \| Unfunded Loan Commitment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	3,100,000
Note receivable (revolving credit facility) \| Variable Interest Entity, Not Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	5,435,000	5,400,000
Note receivable (revolving credit facility) \| Variable Interest Entity, Not Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	$ 2,220,000	$ 2,300,000
Long-Term Acute Care Hospitals \| Note receivable (term loan)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of properties used to secure notes by borrower \| hospital	7
Inpatient Rehabilitation Facilities \| Note receivable (term loan)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of properties used to secure notes by borrower \| hospital	1
Geriatric Behavioral Hospital
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of properties used to secure notes by borrower \| hospital	6
Revolving Credit Facility \| Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable interest rate	9%
Revolving Credit Facility \| Note receivable (revolving credit facility)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable interest rate	9%
Non-cash interest rate	3%

Other Assets, net - Schedule _2

Other Assets, net - Schedule of VIEs (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Notes receivable	$ 29,905	$ 30,775
Variable Interest Entity, Not Primary Beneficiary \| Note receivable (term loan)
Variable Interest Entity [Line Items]
Notes receivable	5,250
Maximum exposure to loss	5,250
Variable Interest Entity, Not Primary Beneficiary \| Note receivable (revolving credit facility)
Variable Interest Entity [Line Items]
Notes receivable	5,435	5,400
Maximum exposure to loss	5,435
Variable Interest Entity, Not Primary Beneficiary \| Note receivable (term loan)
Variable Interest Entity [Line Items]
Notes receivable	17,000	17,000
Maximum exposure to loss	17,000
Variable Interest Entity, Not Primary Beneficiary \| Note receivable (revolving credit facility)
Variable Interest Entity [Line Items]
Notes receivable	2,220	$ 2,300
Maximum exposure to loss	$ 2,220

Other Liabilities, net (Details

Other Liabilities, net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Prepaid rent	$ 5,442	$ 5,378
Security deposits	3,789	3,765
Below-market lease intangibles, net	3,185	3,188
Financing lease liability	3,273	3,277
Operating lease liability	772	775
Other	499	485
Other liabilities, net	$ 16,960	$ 16,868
Finance lease, liability, statement of financial position [Extensible Enumeration]	Other liabilities, net	Other liabilities, net
Operating lease, liability, statement of financial position	Other liabilities, net	Other liabilities, net

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable	$ 29,905	$ 30,775
Interest rate swap asset	21,490	16,417
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable	29,905	30,775
Mortgage note payable (principal amount)	4,788	4,821
Carrying Value \| Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap asset	21,490	16,417
Fair Value \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable	30,738	31,199
Mortgage note payable (principal amount)	4,787	4,791
Fair Value \| Interest rate swaps \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap asset	$ 21,490	$ 16,417

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended
Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2024 USD ($) project
Tenant Improvements Allowances
Other Commitments [Line Items]
Commitment	$ 22.5
Redevelopment Projects
Other Commitments [Line Items]
Commitment	$ 15.8
Number of projects \| project	7
Capital Improvements
Other Commitments [Line Items]
Commitment	$ 5.6

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event $ / shares in Units, $ in Millions		1 Months Ended
	Apr. 25, 2024 $ / shares	Apr. 30, 2024 USD ($) real_estate_property
Subsequent Event [Line Items]
Dividend declared (in dollars per share) \| $ / shares	$ 0.46
Aggregate purchase price \| $		$ 23.5
Percentage of properties that were leased at acquisition (in percent)		100%
Inpatient Rehabilitation Facility
Subsequent Event [Line Items]
Number of real estate properties acquired \| real_estate_property		1