Community Healthcare Trust (CHCT) 10-Q 29 Oct 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Oct. 22, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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		28,242,370
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001631569
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Real estate properties
Land and land improvements	$ 146,118	$ 136,532
Buildings, improvements, and lease intangibles	989,019	913,416
Personal property	326	299
Total real estate properties	1,135,463	1,050,247
Less accumulated depreciation	(232,747)	(200,810)
Total real estate properties, net	902,716	849,437
Cash and cash equivalents	2,836	3,491
Restricted cash	0	1,142
Real estate properties held for sale	6,351	7,466
Other assets, net	69,876	83,876
Total assets	981,779	945,412
Liabilities
Debt, net	473,716	403,256
Accounts payable and accrued liabilities	14,422	12,032
Other liabilities, net	16,489	16,868
Total liabilities	504,627	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; 28,242 and 27,613 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	282	276
Additional paid-in capital	702,014	688,156
Cumulative net income	83,843	88,856
Accumulated other comprehensive income	10,016	16,417
Cumulative dividends	(319,003)	(280,449)
Total stockholders’ equity	477,152	513,256
Total liabilities and stockholders' equity	$ 981,779	$ 945,412

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 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)	28,242,000	27,613,000
Common stock, shares outstanding (in shares)	28,242,000	27,613,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
REVENUES
Rental income		$ 29,335	$ 27,690	$ 85,582	$ 80,582
Other operating interest, net		304	1,045	906	3,139
Total revenue		29,639	28,735	86,488	83,721
EXPENSES
Property operating		5,986	5,456	17,349	15,115
General and administrative	[1]	4,935	3,618	14,249	23,610
Depreciation and amortization		10,927	11,208	31,981	29,445
Total expenses		21,848	20,282	63,579	68,170
OTHER (EXPENSE) INCOME
Gain on sale (impairment) of depreciable real estate asset		5	(102)	(135)	(102)
Interest expense		(6,253)	(4,641)	(17,301)	(12,773)
Credit loss reserve		0	0	(11,000)	0
Deferred income tax expense		0	(221)	0	(306)
Interest and other income, net		206	3	514	777
Total other income (expense)		(6,042)	(4,961)	(27,922)	(12,404)
NET INCOME (LOSS)		$ 1,749	$ 3,492	$ (5,013)	$ 3,147
NET INCOME (LOSS) PER COMMON SHARE
Net income (loss) per common share - Basic (in dollars per share)		$ 0.04	$ 0.11	$ (0.27)	$ 0.05
Net income (loss) per common share - Diluted (in dollars per share)		$ 0.04	$ 0.11	$ (0.27)	$ 0.05
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-BASIC (in shares)		26,660	25,514	26,479	24,940
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-DILUTED (in shares)		26,660	25,514	26,479	24,940
[1] (1) General and administrative expenses for the nine months ended September 30, 2024 included stock-based compensation expense totaling approximately $7.4 million. General and administrative expenses for the nine months ended September 30, 2023 included stock-based compensation expense totaling approximately $17.9 million, including the accelerated amortization of stock-based compensation totaling approximately $11.8 million recognized upon the passing of our former CEO and President in the first quarter of 2023. See Note 9 – Stock Incentive Plan.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Stock-based compensation expense		$ 7,400	$ 17,900
Accelerated amortization of stock-based compensation	$ 11,800	$ 0	$ 11,799

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ 1,749	$ 3,492	$ (5,013)	$ 3,147
Other comprehensive (loss) income:
(Decrease) increase in fair value of cash flow hedges	(8,749)	8,691	1,824	13,593
Reclassification for amounts recognized as interest expense	(2,725)	(2,738)	(8,225)	(7,222)
Total other comprehensive (loss) income	(11,474)	5,953	(6,401)	6,371
COMPREHENSIVE (LOSS) INCOME	$ (9,725)	$ 9,445	$ (11,414)	$ 9,518

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)			1,037,000
Issuance of common stock, net of issuance costs	$ 34,621		$ 11	34,610
Stock-based compensation, net of forfeitures (in shares)			331,000
Stock-based compensation, net of forfeitures	17,936		$ 3	17,933
Shares withheld on vesting of stock-based compensation	(963)			(963)
(Decrease) Increase in fair value of cash flow hedges	13,593					13,593
Reclassification for amounts recognized as interest expense	(7,222)					(7,222)
Net income (loss)	3,147				3,147
Dividends to common stockholders	(35,632)						(35,632)
Ending balance (in shares) at Sep. 30, 2023		0
Ending balance at Sep. 30, 2023	522,294	$ 0	$ 273	676,716	84,289	29,038	(268,022)
Balance, end of period (in shares) at Sep. 30, 2023			27,265,000
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
Beginning balance (in shares) at Jun. 30, 2023		0
Beginning balance at Jun. 30, 2023	$ 505,325	$ 0	$ 265	657,057	80,797	23,085	(255,879)
Balance, beginning of period (in shares) at Jun. 30, 2023			26,541,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs (in shares)			552,000
Issuance of common stock, net of issuance costs	17,769		$ 6	17,763
Stock-based compensation, net of forfeitures (in shares)			172,000
Stock-based compensation, net of forfeitures	1,898		$ 2	1,896
(Decrease) Increase in fair value of cash flow hedges	8,691					8,691
Reclassification for amounts recognized as interest expense	(2,738)					(2,738)
Net income (loss)	3,492				3,492
Dividends to common stockholders	(12,143)						(12,143)
Ending balance (in shares) at Sep. 30, 2023		0
Ending balance at Sep. 30, 2023	$ 522,294	$ 0	$ 273	676,716	84,289	29,038	(268,022)
Balance, end of period (in shares) at Sep. 30, 2023			27,265,000
Beginning balance (in shares) at Dec. 31, 2023	0	0
Beginning balance at Dec. 31, 2023	$ 513,256	$ 0	$ 276	688,156	88,856	16,417	(280,449)
Balance, beginning 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)	313,000		313,000
Issuance of common stock, net of issuance costs	$ 7,259		$ 3	7,256
Stock-based compensation, net of forfeitures (in shares)			350,000
Stock-based compensation, net of forfeitures	7,390		$ 3	7,387
Shares withheld on vesting of stock-based compensation (in shares)			(34,000)
Shares withheld on vesting of stock-based compensation	(785)			(785)
(Decrease) Increase in fair value of cash flow hedges	1,824					1,824
Reclassification for amounts recognized as interest expense	(8,225)					(8,225)
Net income (loss)	(5,013)				(5,013)
Dividends to common stockholders	$ (38,554)						(38,554)
Ending balance (in shares) at Sep. 30, 2024	0	0
Ending balance at Sep. 30, 2024	$ 477,152	$ 0	$ 282	702,014	83,843	10,016	(319,003)
Balance, end of period (in shares) at Sep. 30, 2024	28,242,000		28,242,000
Beginning balance (in shares) at Jun. 30, 2024		0
Beginning balance at Jun. 30, 2024	$ 497,771	$ 0	$ 280	699,833	82,094	21,490	(305,926)
Balance, beginning of period (in shares) at Jun. 30, 2024			28,049,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs (in shares)			0
Issuance of common stock, net of issuance costs	(80)			(80)
Stock-based compensation, net of forfeitures (in shares)			206,000
Stock-based compensation, net of forfeitures	2,497		$ 2	2,495
Shares withheld on vesting of stock-based compensation (in shares)			(13,000)
Shares withheld on vesting of stock-based compensation	(234)			(234)
(Decrease) Increase in fair value of cash flow hedges	(8,749)					(8,749)
Reclassification for amounts recognized as interest expense	(2,725)					(2,725)
Net income (loss)	1,749				1,749
Dividends to common stockholders	$ (13,077)						(13,077)
Ending balance (in shares) at Sep. 30, 2024	0	0
Ending balance at Sep. 30, 2024	$ 477,152	$ 0	$ 282	$ 702,014	$ 83,843	$ 10,016	$ (319,003)
Balance, end of period (in shares) at Sep. 30, 2024	28,242,000		28,242,000

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividend declared (in dollars per share)	$ 0.4625	$ 0.4525	$ 1.3800	$ 1.3500

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
OPERATING ACTIVITIES
Net (loss) income	$ (5,013)	$ 3,147
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	31,981	29,445
Other amortization	636	558
Stock-based compensation	7,390	6,137
Accelerated amortization of stock-based compensation	0	11,799
Straight-line rent receivable	(1,230)	(2,180)
Net gain from insurance recovery on casualty loss	0	(706)
Impairment of real estate asset, net of gain on sale	135	102
Credit loss reserve	11,000	0
Deferred income tax expense	0	306
Changes in operating assets and liabilities:
Other assets	(3,543)	(3,082)
Accounts payable and accrued liabilities	2,263	3,337
Other liabilities	(402)	(1,772)
Net cash provided by operating activities	43,217	47,091
INVESTING ACTIVITIES
Acquisitions of real estate	(64,152)	(91,993)
Proceeds from sale of real estate	965	0
Funding of notes receivable	(2,875)	(1,985)
Proceeds from the repayment of notes receivable	2,370	3,045
Insurance proceeds from casualty loss	0	2,273
Capital expenditures on existing real estate properties	(19,483)	(11,461)
Net cash used in investing activities	(83,175)	(100,121)
FINANCING ACTIVITIES
Net borrowings on revolving credit facility	75,000	48,000
Mortgage note repayments	(4,820)	(94)
Dividends paid	(38,554)	(35,632)
Proceeds from issuance of common stock	7,492	34,766
Taxes paid on behalf of employees and shares withheld upon shares vesting	(785)	(963)
Equity issuance costs	(172)	(182)
Net cash provided by financing activities	38,161	45,895
Decrease in cash, cash equivalents and restricted cash	(1,797)	(7,135)
Cash, cash equivalents and restricted cash, beginning of period	4,633	12,068
Cash, cash equivalents and restricted cash, end of period	2,836	4,933
Supplemental Cash Flow Information:
Interest paid (net of capitalized interest)	16,932	9,868
Invoices accrued for construction, tenant improvement, and other capitalized costs	5,124	4,922
Reclassification of registration statement costs incurred in prior years to equity issuance costs	269	145
(Decrease) increase in fair value of cash flow hedges	1,824	13,593
Income taxes paid	31	90
Capitalized interest	$ 154	$ 514

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 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 September 30, 2024, the Company had gross investments of approximately $1.1 billion in 198 real estate properties (including a portion of one property accounted for as a sales-type lease with a gross amount totaling approximately $3.0 million and one property classified as an asset held for sale with a net investment totaling approximately $6.4 million. See Note 10 – Other Assets, net and Note 4 – Real Estate Acquisitions, Disposition, and Assets Held for Sale, respectively). The properties are located in 35 states, totaling approximately 4.4 million square feet in the aggregate and were approximately 91.3% leased, excluding the real estate asset held for sale, at September 30, 2024 with a weighted average remaining lease term of approximately 6.8 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, allowances for accounts and interest receivables, 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 consisted 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 September 30, (Dollars in thousands) 2024 2023 Cash and cash equivalents $ 2,836 $ 3,885 Restricted cash — 1,048 Cash, cash equivalents and restricted cash $ 2,836 $ 4,933 Rental Income 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. The Company's rental income is based on contractual arrangements with its tenants. 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. Interest Income The Company's interest income is recognized based on contractual arrangements with its borrowers. 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 interest on a given note is placed on non-accrual status and interest income is recognized on a cash basis. Credit Losses Losses from Operating Lease Receivables We assess the probability of collecting substantially all rents under our leases, on a tenant-by-tenant basis, based on several factors, including, payment and default history, financial strength of the tenant and/or guarantors, historical and operating trends of the property, and the value of the underlying collateral, if any. If management determines that collection of substantially all of a tenant's lease payments is not probable, we 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 tenant's lease payments is probable, management will reinstate and record all such receivables for the lease in accordance with the lease terms. The Company also maintains a general allowance for its lease receivables that management has determined are probable of collection. Accounts receivable, straight-line rent and related allowances are included in Other assets on the Company's Condensed Consolidated Balance Sheets and any offsetting reduction in income is included in rental income on the Company's Condensed Statements of Operations. Credit Losses on Loans and Interest Receivables Historically, the Company has at times entered into loans with certain of its tenants for working capital or other needs. We consider our loans to be incidental to our main business of acquiring and leasing healthcare real estate. Credit losses on financial instruments are measured using an expected credit loss ("CECL") model in evaluating the collectability of notes receivable and other financial instruments. The CECL impairment model requires an estimate of expected credit losses, measured over the contractual life of an instrument, that considers forecasts of future economic conditions in addition to information about past events and current conditions. Under the CECL model, the Company estimates credit losses over the entire contractual term of the instrument from the date of initial recognition of that instrument and is required to record a credit loss expense (or reversal) in each reporting period. The Company evaluates factors such as its historical credit loss experience with the borrower or similar financial assets, current economic conditions, current and expected future financial condition of the borrower, as well as payment history of the borrower, along with other relevant factors for each borrower or similar instruments. If a sale of the borrower's collateral, such as the underlying business or real estate, is expected to repay amounts due to the Company, the Company will also evaluate the underlying collateral in measuring any expected credit loss. The Company's financial instruments included in the scope of the CECL guidance are the principal balances of its tenant notes receivable and its net investment in a sales-type lease which are included in Other assets on the Company's Condensed Consolidated Balance Sheets. We made an accounting policy election to exclude interest receivables from the credit loss reserve model. The Company recognizes interest income on an accrual basis unless the Company has determined 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. Subsequently, when collectability of contractual amounts is reasonably assured, management will resume the accrual 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. Recent Accounting Pronouncements The Financial Accounting Standards Board ("FASB") issued ASU 2023-07, Segment Reporting (Topic 280) on November 27, 2023. The provisions of this update generally include; (i) a requirement to disclose significant segment expenses, on an annual and interim basis, that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss; (ii) a requirement to disclose the title and position of the CODM and an explanation of how the CODM uses the reported measures of segment profit and loss in assessing segment performance and deciding how to allocate resources, and (iii) a requirement that entity's with a single reportable segment provide all of the disclosures required by the amendments in this update. This update is effective for annual reporting periods beginning after December 31, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company does not expect that the adoption of this ASU will have a material impact on its consolidated financial statements other than the new disclosure requirements, as we operate under a single reportable segment. Compliance with these new disclosure requirements will begin with the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

Real Estate Investments

Real Estate Investments	9 Months Ended
	Sep. 30, 2024
Real Estate [Abstract]
Real Estate Investments	REAL ESTATE INVESTMENTS As of September 30, 2024, we had gross investments of approximately $1.1 billion in 198 real estate properties (including a portion of one property accounted for as a sales-type lease with a gross amount totaling approximately $3.0 million and one property classified as held for sale with a gross amount totaling approximately $6.4 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 $ 478,005 Inpatient Rehabilitation Hospitals 9 198,319 Acute Inpatient Behavioral 5 130,535 Specialty Centers 37 117,989 Physician Clinics 31 94,965 Surgical Centers and Hospitals 9 58,474 Behavioral Specialty Facilities 9 45,067 Long-term Acute Care Hospitals 2 21,484 Total 198 $ 1,144,838 State # of Properties Gross Investment Texas 17 $ 185,738 Illinois 18 132,814 Ohio 26 115,313 Florida 25 110,114 Pennsylvania 16 67,483 All Others 96 533,376 Total 198 $ 1,144,838 Primary Tenant # of Properties Gross Investment Lifepoint Health 5 $ 86,682 US HealthVest 3 77,964 All Others (less than 4%) 190 980,192 Total 198 $ 1,144,838

Real Estate Leases

Real Estate Leases	9 Months Ended
	Sep. 30, 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 2044. The Company’s leases generally require the lessee to pay minimum rent, with fixed rent renewal terms or increases based on a Consumer Price Index and may also include additional rent, which may include the reimbursement of taxes (including property taxes), insurance, maintenance and other operating costs associated with the leased property. Some leases provide the lessee, during the term of the lease, with an option or right of first refusal to purchase the leased property. Some leases also allow the lessee to renew or extend their lease term or in some cases terminate their lease, based on conditions provided in the lease. Future minimum lease payments under the non-cancelable operating leases due to the Company for the years ending December 31, as of September 30, 2024, are as follows (in thousands): 2024 (three months ended December 31) $ 25,911 2025 99,363 2026 90,380 2027 82,587 2028 75,773 2029 and thereafter 411,035 $ 785,049 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 increased rental income by approximately $0.7 million and $0.4 million, respectively, for the three months ended September 30, 2024 and 2023, and increased rental income by approximately $1.2 million and $2.2 million, respectively, for the nine months ended September 30, 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 September 30, 2024, the Company had an aggregate gross investment of approximately $32.9 million in 10 real estate properties with purchase options exercisable at September 30, 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 September 30, 2024, are as follows (in thousands): 2024 (three months ended December 31) $ 88 2025 356 2026 367 2027 378 2028 389 2029 and thereafter 4,821 Total undiscounted lease receivable 6,399 Discount (3,382) Lease receivable $ 3,017 The Company recognized interest income of approximately $0.1 million during each of the three months ended September 30, 2024 and 2023 and approximately $0.2 million during each of the nine months ended September 30, 2024 and 2023 related to this lease, which is included in other operating interest on the Company's Condensed Consolidated Statements of Operations. Lessee Accounting At September 30, 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 (three months ended December 31) $ 11 $ 37 2025 44 154 2026 44 154 2027 45 154 2028 46 154 2029 and thereafter 1,102 6,802 Total undiscounted lease payments 1,292 7,455 Discount (526) (4,190) Lease liabilities $ 766 $ 3,265 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) 34.2 35.4 Weighted-average discount rate 4.0 % 4.0 % Financing leases: Weighted-average remaining lease term in years (including renewal options) 39.1 40.1 Weighted-average discount rate 4.3 % 4.3 %

Real Estate Acquisitions, Dispo

Real Estate Acquisitions, Disposition, And Assets Held For Sale	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Real Estate Acquisitions, Disposition And Assets Held For Sale	REAL ESTATE ACQUISITIONS, DISPOSITION, AND ASSETS HELD FOR SALE Acquisitions During the third quarter of 2024, the Company acquired one physician clinic. Upon acquisition, the property was 100.0% leased to a tenant with a lease expiration in 2027. Amounts reflected in revenues and net income for the property for the three months ended September 30, 2024 were approximately $116,000 and $26,000, respectively, and transaction costs totaling approximately $123,000 were capitalized relating to this property acquisition. During the second quarter of 2024, the Company acquired one inpatient rehabilitation facility. The property was 100.0% leased to a tenant with a lease expiration in 2039. Amounts reflected in revenues and net income for this property for the nine months ended September 30, 2024 was approximately $1.1 million and $0.8 million, respectively, and transaction costs totaling approximately $47,000 were capitalized relating to this property acquisition. 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 nine months ended September 30, 2024 were approximately $2.1 million and $1.0 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 nine months ended September 30, 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 San Antonio, TX IRF 1 4/16/24 23,500 23,547 23,547 — 38,009 Camp Hill, PA PC 1 7/22/24 6,200 6,308 6,323 (15) 20,400 $ 63,900 $ 64,152 $ 64,549 $ (397) 223,422 (1) LTACH - Long-term Acute Care Hospital; MOB - Medical Office Building; IRF - Inpatient Rehabilitation Facility; PC - Physician Clinic (2) Includes other assets acquired, liabilities assumed, and above and below-market intangibles recognized at acquisition The following table summarizes the relative fair values of the assets acquired and liabilities assumed in the property acquisitions for the nine months ended September 30, 2024: Relative Estimated (in thousands) (in years) Land and land improvements $ 7,659 9.2 Building and building improvements 53,116 35.0 Intangibles: In-place lease intangibles 3,774 3.7 Above-market lease intangibles 121 5.0 Below-market lease intangibles (275) 2.0 Total intangibles 3,620 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 (97) Total cash consideration $ 64,152 Disposition During the third quarter of 2024, the Company disposed of an 11,200 square foot surgical center in Texas, and received net proceeds of approximately $1.0 million. The vacant property was previously classified as real estate property held for sale on the Company's Condensed Consolidated Balance Sheet. The Company recorded impairments on the property in previous quarters to adjust the carrying value of the property to its fair value less costs to sell, recorded a casualty loss due to vandalism at the property, and sold the property during the three months ended September 30, 2024, recording an immaterial gain on sale. Real Estate Properties Held for Sale The Company had one property classified as held for sale as of September 30, 2024 and two properties classified as held for sale as of December 31, 2023. The table below reflects the real estate assets classified as held for sale as of September 30, 2024 and December 31, 2023. (Dollars in thousands) September 30, 2024 December 31, 2023 Balance Sheet data: Land $ 1,048 $ 1,576 Building, improvements, and lease intangibles 7,689 10,056 8,737 11,632 Accumulated depreciation (2,386) (4,166) Real estate properties held for sale, net $ 6,351 $ 7,466

Debt, net

Debt, net	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt, net	DEBT, NET The table below details the Company's debt as of September 30, 2024 and December 31, 2023. Balance as of (Dollars in thousands) September 30, 2024 December 31, 2023 Maturity Dates Credit Facility: Revolving Credit Facility $ 125,000 $ 50,000 3/26 A-3 Term Loan, net 74,822 74,730 3/26 A-4 Term Loan, net 124,607 124,522 3/28 A-5 Term Loan, net 149,287 149,189 3/30 Mortgage Note Payable, net — 4,815 5/24 $ 473,716 $ 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 Company amended the Credit Facility on October 16, 2024. See Note 14 – Subsequent Events on the Credit Facility refinancing. As of September 30, 2024, the Credit Facility provided 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 was scheduled to mature on March 19, 2026 and included 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 was scheduled to mature 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 allowed 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 bore 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. At September 30, 2024, the Company had $125.0 million outstanding under the Revolving Credit Facility with a weighted average interest rate of 6.58% and a borrowing capacity remaining of $25.0 million. 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 September 30, 2024, the Company had $350.0 million outstanding under the Term Loans with 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 September 30, 2024. Mortgage Note Payable During the three months ended June 30, 2024, the Company repaid its mortgage note payable totaling approximately $4.8 million.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 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. As of September 30, 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 September 30, 2024 and December 31, 2023. Asset Derivatives Fair Value at Liability Derivatives Fair Value at (Dollars in thousands) September 30, 2024 December 31, 2023 Balance Sheet Classification September 30, 2024 December 31, 2023 Balance Sheet Classification Interest rate swaps $ 10,492 $ 16,417 Other assets, net $ 476 $ — 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 $5.4 million will be reclassified from AOCI as a decrease to interest expense. Tabular Disclosure of the Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three and nine months ended September 30, 2024 and 2023. Three Months Ended Nine Months Ended (Dollars in thousands) 2024 2023 2024 2023 Amount of unrealized (loss) gain recognized in OCI on derivative $ (8,749) $ 8,691 $ 1,824 $ 13,593 Amount of gain reclassified from AOCI into interest expense $ (2,725) $ (2,738) $ (8,225) $ (7,222) Total interest expense presented in the Condensed Consolidated Statements of Operations in which the effects of the cash flow hedges are recorded $ 6,253 $ 4,641 $ 17,301 $ 12,773 Tabular Disclosures of Offsetting Derivatives The tables below present a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of September 30, 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 September 30, 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 $ 10,492 $ — $ 10,492 $ (476) $ — $ 10,016 Offsetting of Derivative Liabilities (as of September 30, 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 $ (476) $ — $ (476) $ 476 $ — $ — 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 September 30, 2024, the Company did not have any derivatives in a net liability position. As of September 30, 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	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2024 and for the year ended December 31, 2023: (In thousands) Nine Months Ended Year Ended Balance, beginning of period 27,613 25,897 Issuance of common stock 313 1,385 Vested RSUs 11 — Restricted stock issued, net of withheld shares and forfeitures 305 331 Balance, end of period 28,242 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 nine months ended September 30, 2024 is detailed in the table below. As of September 30, 2024, the Company had approximately $426.3 million remaining that may be issued under the ATM Program. Three Months Ended Nine Months Ended Shares issued ( in thousands ) — 313 Net proceeds received ( in millions) — $7.5 Average gross sales price per share — $24.38

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2024 and 2023, respectively. Three Months Ended Nine Months Ended (In thousands, except per share data) 2024 2023 2024 2023 Net income (loss) $ 1,749 $ 3,492 $ (5,013) $ 3,147 Participating securities' share in earnings (756) (622) (2,075) (1,995) Net income (loss), less participating securities' share in earnings $ 993 $ 2,870 $ (7,088) $ 1,152 Weighted average Common Shares outstanding Weighted average Common Shares outstanding 28,168 26,823 27,910 26,411 Unvested restricted shares (1,508) (1,309) (1,431) (1,471) Weighted average Common Shares outstanding–Basic 26,660 25,514 26,479 24,940 Weighted average Common Shares outstanding –Diluted 26,660 25,514 26,479 24,940 Basic Net Income (Loss) Per Common Share $ 0.04 $ 0.11 $ (0.27) $ 0.05 Diluted Net Income (Loss) Per Common Share $ 0.04 $ 0.11 $ (0.27) $ 0.05

Stock Incentive Plan

Stock Incentive Plan	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock Incentive Plan	STOCK INCENTIVE PLAN Adoption of the 2024 Incentive Plan The 2024 Incentive Plan, as amended, (the "Plan") was approved by our stockholders at our annual meeting on May 2, 2024. The Plan replaced our 2014 Incentive Plan, as amended, (the "2014 Plan") which had expired on March 31, 2024. The Plan, which will expire on March 4, 2034, implements several changes from the previous 2014 Plan: • Freezes all awards under the 2014 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 authorized for issuance under the Plan to 1,150,000; and • Expands the types of awards that may be awarded under the Plan. A summary of restricted stock activity for the three and nine months ended September 30, 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 Nine Months Ended (Dollars and shares in thousands) 2024 2023 2024 2023 Stock-based awards, beginning of period 1,417 1,203 1,374 1,708 Stock in lieu of compensation 98 57 157 141 Stock awards 97 114 182 220 Total stock granted 195 171 339 361 Vested shares (1) (51) — (152) (692) Forfeited shares (1) — (1) (3) Stock-based awards, end of period 1,560 1,374 1,560 1,374 Amortization expense (1) $ 2,255 $ 1,898 $ 6,514 $ 17,936 ___________ (1) Amortization expense for the nine months ended September 30, 2023 included accelerated amortization totaling approximately $11.8 million recognized during the three months ended March 31, 2023, upon the passing of our former CEO and President. These shares vested during the three months ended June 30, 2023. Restricted Stock Issuances On January 12, 2024, pursuant to the 2014 Incentive Plan and the Third Amended and Restated 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 On May 2, 2024, pursuant to the 2024 Incentive Plan, the Company granted an aggregate of 22,070 shares of restricted stock to its Board of Directors, which will cliff vest in three years. On May 16, 2024, pursuant to the 2024 Incentive Plan and the Fourth Amended and Restated Alignment of Interest Program, the Company granted an aggregate of 24,887 shares of restricted stock to its Board of Directors, in lieu of fees, that will cliff vest in three years. Of the shares granted, 15,553 shares of restricted stock were granted in lieu of compensation from the program pool and 9,334 shares of restricted stock were awarded based on the restriction period elected from the plan pool. Also, on June 3, 2024, pursuant to the 2024 Incentive Plan, the Company granted 7,000 shares of restricted stock to an employee that will cliff vest in five years. During the third quarter of 2024, pursuant to the 2024 Incentive Plan and the Fourth Amended and Restated Alignment of Interest Program, the Company granted an aggregate of 195,447 shares of restricted stock to its employees, in lieu of salary and bonus compensation, which will cliff vest between three Compensation Programs under the 2024 Incentive Plan The Company's various programs under the 2024 Incentive Plan have been amended during 2024 for various items, including: (i) allowing for the grant of RSUs and other types of awards other than restricted stock; (ii) limiting the maximum elective deferral percentage amount of salary and bonus to 50% to the acquisition of restricted stock for certain participants (previously 100%); and (iii) limiting the duration of the restriction period election depending on the retirement eligibility date per those participant's employment agreement. The deferral and restriction period limitations were effective beginning January 1, 2024 for salary and other compensation deferrals and are now effective for performance periods commencing on and after July 1, 2024 for cash bonus deferrals. Restricted Stock Units The Plan, and previous 2014 Plan, provide for the award of restricted stock units ("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 Amended and Restated 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 and nine months ended September 30, 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 September 30, Nine Months Ended September 30, (Dollars and RSUs in thousands) 2024 2023 2024 2023 Restricted Stock Units, beginning of period 134 — — — Absolute TSR Performance-based RSUs granted (1) — — 57 — Relative TSR Performance-based RSUs granted (1) — — 43 — Time-based RSUs granted (2) — — 34 — Total RSUs granted — — 134 — Vested RSUs (2) (11) — (11) — Restricted Stock Units, end of period 123 — 123 — Amortization expense $ 242 $ — $ 876 $ — Grant Date Value Remaining at period end to be Amortized During the Performance Period $ 1,694 $ — $ 1,694 $ — ______________ (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, 2025 and 2026. The first tranche of the 11,206 Time-Based RSUs was fully amortized as of June 30, 2024 and vested on July 1, 2024, the next business day after June 30, 2024.

Other Assets, net

Other Assets, net	9 Months Ended
	Sep. 30, 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 September 30, 2024 and December 31, 2023 are detailed in the table below. Balance as of (Dollars in thousands) September 30, 2024 December 31, 2023 Notes receivable, net of credit loss reserve $ 20,280 $ 30,775 Straight-line rent receivables, net 19,711 18,481 Fair value of interest rate swaps 10,492 16,417 Leasing commissions, net 3,920 2,312 Sales-type lessor receivable 3,017 3,028 Financing lease right-of-use assets 2,442 2,486 Prepaid assets 2,294 1,203 Accounts receivable, net 2,137 2,739 Above-market intangible assets, net 2,126 2,645 Interest receivable, net 1,798 1,906 Operating lease right of use assets 706 729 Deferred financing costs, net 312 471 Other 641 684 $ 69,876 $ 83,876 The Company's notes receivable mainly included: • At September 30, 2024 and December 31, 2023, notes receivable included a term loan totaling $3.8 million and $6.0 million, respectively, secured by all assets and ownership interests in seven long-term acute care hospitals and one inpatient rehabilitation hospital owned by the borrower. The term loan will be repaid in equal monthly installments of $250,000 through the maturity date of December 31, 2025 and bears interest at 9% per annum. • At September 30, 2024 and December 31, 2023, notes receivable included a term loan totaling $17.0 million, and a revolving credit facility with $6.3 million and $5.4 million drawn, respectively, secured by assets and ownership interests of six geriatric behavioral hospitals and affiliated companies all of which are co-borrowers on the loans. At September 30, 2024, the Company had an unfunded commitment of $2.2 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. In the second quarter of 2024, the Company determined that the collectability of the term loan and revolver loan was not reasonably assured. The tenant/borrower has experienced challenges with patient census and employee staffing, which has impacted cash flows from operations and the consistency of rent and interest payments to the Company. In the second quarter of 2024, the Company valued the notes based on its estimated value of the underlying collateral. As a result, in the second quarter of 2024, the Company recorded an $11.0 million credit loss reserve on its notes receivable with the tenant and reversed approximately $1.4 million of interest and placed the notes on non-accrual status. Changes in cash flows of the business, changes in market data, such as market multiples, and other relevant data may drive a change in the estimated value of the underlying collateral. At September 30, 2024, however, the Company did not believe that there were any material changes to warrant a change in the credit loss reserve recorded in the second quarter of 2024. • At September 30, 2024 and December 31, 2023, notes receivable also included a $2.2 million and $2.3 million, respectively, revolving credit fac ility. This note will be repaid in equal monthly installments of $40,000 beginning on November 1, 2024, 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. • At September 30, 2024 , notes receivable also included a $2.0 million construction mortgage loan with a developer which is secured by the land, improvements, and personal property. The mortgage loan, which bears interest at 10% per annum, will be interest only until the principal is due at the earlier of the completion and acquisition of the property, or August 15, 2027. The Company identified the borrowers of these notes as variable interest entities ("VIEs"), but management determined that the Company was not the primary beneficiary of the VIEs because we lack either directly or through related parties any material decision-making rights or control of the entities that impact the borrowers' economic performance. We are not obligated to provide support beyond our stated commitment to the borrowers, and accordingly our maximum exposure to loss as a result of this relationship is limited to the amount of our outstanding notes receivable. The VIEs that we have identified at September 30, 2024 are summarized in the table below. Classification Carrying Amount (in thousands) Maximum Exposure to Loss (in thousands) Note receivable (term loan) $ 3,750 $ 3,750 Note receivable (revolving credit facility) $ 2,220 $ 2,220 Note receivable (mortgage note) $ 2,000 $ 2,000 Notes receivable (revolving credit facility and term loan), net of credit loss $ 12,310 $ 12,310

Other Liabilities, net

Other Liabilities, net	9 Months Ended
	Sep. 30, 2024
Other Liabilities Disclosure [Abstract]
Other Liabilities, net	OTHER LIABILITIES, NET Other liabilities, net on the Company's Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 are detailed in the table below. Balance as of (Dollars in thousands) September 30, 2024 December 31, 2023 Prepaid rent $ 5,880 $ 5,378 Security deposits 2,951 3,765 Below-market lease intangibles, net 2,593 3,188 Fair value of interest rate swaps 476 — Financing lease liability 3,265 3,277 Operating lease liability 766 775 Other 558 485 $ 16,489 $ 16,868

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 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 approximated the fair value. The fair value estimates were determined using level 1 inputs. Notes and mortgage note receivable - The fair value was 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 were classified as level 2 inputs in the hierarchy. The fair value of notes receivable with one tenant was determined utilizing the fair value of the receivables' collateral, as the receivables are collateral-dependent, and were classified as level 3 inputs in the hierarchy. Borrowings under our Credit Facility - The carrying amount approximated the fair value because the borrowings were 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 was estimated using discounted cash flow techniques. These techniques incorporate primarily level 2 inputs. The market inputs were 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 were observable in active markets and were classified as level 2 inputs in the hierarchy. Mortgage note payable - The fair value was estimated using cash flow analyses which were based on an assumed market rate of interest or at a rate consistent with the rates on mortgage notes assumed by the Company and were classified as level 2 inputs in the hierarchy. The table below details the fair values and carrying values for our notes and mortgage note receivable, interest rate swaps, and mortgage note payable at September 30, 2024 and December 31, 2023, using level 2 and level 3 inputs. September 30, 2024 December 31, 2023 (Dollars in thousands) Carrying Value Fair Value Carrying Value Fair Value Notes and mortgage note receivable (Level 2) $ 7,970 $ 7,835 $ 8,340 $ 8,159 Notes receivable, net of credit loss (1) $ 12,310 $ 12,310 $ 22,435 $ 23,040 Interest rate swap asset $ 10,492 $ 10,492 $ 16,417 $ 16,417 Interest rate swap liability $ 476 $ 476 $ — $ — Mortgage note payable (principal amount) $ — $ — $ 4,821 $ 4,791 ___________________ (1) Calculated utilizing Level 3 inputs at September 30, 2024 and Level 2 inputs at December 31, 2023.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 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 September 30, 2024, the Company had approximately $26.0 million in commitments for tenant improvements. Six of these projects totaling $13.1 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 September 30, 2024, the Company had approximately $3.1 million in commitments for capital improvement projects. Six of these projects totaling $0.8 million, represent redevelopment projects of the buildings into different healthcare uses backed by long-term leases. 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	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Dividend Declared On October 24, 2024, the Company’s Board of Directors declared a quarterly common stock dividend in the amount of $0.465 per share. The dividend is payable on November 22, 2024 to stockholders of record on November 8, 2024. Credit Facility Refinancing On October 16, 2024, the Company entered into a second amendment to the third amended and restated credit agreement (the "Amended Credit Facility") with a syndicate of lenders, under which Truist Bank serves as administrative agent. The Amended Credit Facility, among other things, (i) increased the Company's Revolving Credit Facility from $150.0 million to $400.0 million, (ii) extended the maturity date of the Revolving Credit Facility from March 19, 2026 to October 16, 2029, and (iii) lowered pricing on the Revolving Credit Facility by 10 to 30 basis points, depending on the Company's leverage ratio. Proceeds from the increased Revolving Credit Facility were used to repay the existing $75.0 million A-3 Term Loan which was scheduled to mature on March 29, 2026. In addition, amounts outstanding under the Revolving Credit Facility prior to the second Amendment will remain outstanding. Interest rate swaps previously entered into to fix the interest rates on the A-3 Term Loan will remain in place on the Revolving Credit Facility through their maturity on March 29, 2026.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 1,749	$ 3,492	$ (5,013)	$ 3,147

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 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)	9 Months Ended
	Sep. 30, 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, allowances for accounts and interest receivables, 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 consisted 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.
Rental Income and Interest Income	Rental Income 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. The Company's rental income is based on contractual arrangements with its tenants. 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. Interest Income
Credit Losses	Credit Losses Losses from Operating Lease Receivables We assess the probability of collecting substantially all rents under our leases, on a tenant-by-tenant basis, based on several factors, including, payment and default history, financial strength of the tenant and/or guarantors, historical and operating trends of the property, and the value of the underlying collateral, if any. If management determines that collection of substantially all of a tenant's lease payments is not probable, we 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 tenant's lease payments is probable, management will reinstate and record all such receivables for the lease in accordance with the lease terms. The Company also maintains a general allowance for its lease receivables that management has determined are probable of collection. Accounts receivable, straight-line rent and related allowances are included in Other assets on the Company's Condensed Consolidated Balance Sheets and any offsetting reduction in income is included in rental income on the Company's Condensed Statements of Operations. Credit Losses on Loans and Interest Receivables Historically, the Company has at times entered into loans with certain of its tenants for working capital or other needs. We consider our loans to be incidental to our main business of acquiring and leasing healthcare real estate. Credit losses on financial instruments are measured using an expected credit loss ("CECL") model in evaluating the collectability of notes receivable and other financial instruments. The CECL impairment model requires an estimate of expected credit losses, measured over the contractual life of an instrument, that considers forecasts of future economic conditions in addition to information about past events and current conditions. Under the CECL model, the Company estimates credit losses over the entire contractual term of the instrument from the date of initial recognition of that instrument and is required to record a credit loss expense (or reversal) in each reporting period. The Company evaluates factors such as its historical credit loss experience with the borrower or similar financial assets, current economic conditions, current and expected future financial condition of the borrower, as well as payment history of the borrower, along with other relevant factors for each borrower or similar instruments. If a sale of the borrower's collateral, such as the underlying business or real estate, is expected to repay amounts due to the Company, the Company will also evaluate the underlying collateral in measuring any expected credit loss. The Company's financial instruments included in the scope of the CECL guidance are the principal balances of its tenant notes receivable and its net investment in a sales-type lease which are included in Other assets on the Company's Condensed Consolidated Balance Sheets.
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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Financial Accounting Standards Board ("FASB") issued ASU 2023-07, Segment Reporting (Topic 280) on November 27, 2023. The provisions of this update generally include; (i) a requirement to disclose significant segment expenses, on an annual and interim basis, that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss; (ii) a requirement to disclose the title and position of the CODM and an explanation of how the CODM uses the reported measures of segment profit and loss in assessing segment performance and deciding how to allocate resources, and (iii) a requirement that entity's with a single reportable segment provide all of the disclosures required by the amendments in this update. This update is effective for annual reporting periods beginning after December 31, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company does not expect that the adoption of this ASU will have a material impact on its consolidated financial statements other than the new disclosure requirements, as we operate under a single reportable segment. Compliance with these new disclosure requirements will begin with the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 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 September 30, (Dollars in thousands) 2024 2023 Cash and cash equivalents $ 2,836 $ 3,885 Restricted cash — 1,048 Cash, cash equivalents and restricted cash $ 2,836 $ 4,933
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 September 30, (Dollars in thousands) 2024 2023 Cash and cash equivalents $ 2,836 $ 3,885 Restricted cash — 1,048 Cash, cash equivalents and restricted cash $ 2,836 $ 4,933

Real Estate Investments (Tables

Real Estate Investments (Tables)	9 Months Ended
	Sep. 30, 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 $ 478,005 Inpatient Rehabilitation Hospitals 9 198,319 Acute Inpatient Behavioral 5 130,535 Specialty Centers 37 117,989 Physician Clinics 31 94,965 Surgical Centers and Hospitals 9 58,474 Behavioral Specialty Facilities 9 45,067 Long-term Acute Care Hospitals 2 21,484 Total 198 $ 1,144,838 State # of Properties Gross Investment Texas 17 $ 185,738 Illinois 18 132,814 Ohio 26 115,313 Florida 25 110,114 Pennsylvania 16 67,483 All Others 96 533,376 Total 198 $ 1,144,838 Primary Tenant # of Properties Gross Investment Lifepoint Health 5 $ 86,682 US HealthVest 3 77,964 All Others (less than 4%) 190 980,192 Total 198 $ 1,144,838

Real Estate Leases (Tables)

Real Estate Leases (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2024, are as follows (in thousands): 2024 (three months ended December 31) $ 25,911 2025 99,363 2026 90,380 2027 82,587 2028 75,773 2029 and thereafter 411,035 $ 785,049
Schedule of Lease Receivables	Future lease payments due to the Company under this lease for the years ending December 31, as of September 30, 2024, are as follows (in thousands): 2024 (three months ended December 31) $ 88 2025 356 2026 367 2027 378 2028 389 2029 and thereafter 4,821 Total undiscounted lease receivable 6,399 Discount (3,382) Lease receivable $ 3,017
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 (three months ended December 31) $ 11 $ 37 2025 44 154 2026 44 154 2027 45 154 2028 46 154 2029 and thereafter 1,102 6,802 Total undiscounted lease payments 1,292 7,455 Discount (526) (4,190) Lease liabilities $ 766 $ 3,265
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 (three months ended December 31) $ 11 $ 37 2025 44 154 2026 44 154 2027 45 154 2028 46 154 2029 and thereafter 1,102 6,802 Total undiscounted lease payments 1,292 7,455 Discount (526) (4,190) Lease liabilities $ 766 $ 3,265
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) 34.2 35.4 Weighted-average discount rate 4.0 % 4.0 % Financing leases: Weighted-average remaining lease term in years (including renewal options) 39.1 40.1 Weighted-average discount rate 4.3 % 4.3 %

Real Estate Acquisitions, Dis_2

Real Estate Acquisitions, Disposition, And Assets Held For Sale (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Property Acquisitions	The following table summarizes our property acquisitions for the nine months ended September 30, 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 San Antonio, TX IRF 1 4/16/24 23,500 23,547 23,547 — 38,009 Camp Hill, PA PC 1 7/22/24 6,200 6,308 6,323 (15) 20,400 $ 63,900 $ 64,152 $ 64,549 $ (397) 223,422 (1) LTACH - Long-term Acute Care Hospital; MOB - Medical Office Building; IRF - Inpatient Rehabilitation Facility; PC - Physician Clinic (2) Includes other assets acquired, liabilities assumed, and above and below-market intangibles recognized at acquisition
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the relative fair values of the assets acquired and liabilities assumed in the property acquisitions for the nine months ended September 30, 2024: Relative Estimated (in thousands) (in years) Land and land improvements $ 7,659 9.2 Building and building improvements 53,116 35.0 Intangibles: In-place lease intangibles 3,774 3.7 Above-market lease intangibles 121 5.0 Below-market lease intangibles (275) 2.0 Total intangibles 3,620 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 (97) Total cash consideration $ 64,152
Schedule of Assets and Liabilities Classified as Held for Sale	The table below reflects the real estate assets classified as held for sale as of September 30, 2024 and December 31, 2023. (Dollars in thousands) September 30, 2024 December 31, 2023 Balance Sheet data: Land $ 1,048 $ 1,576 Building, improvements, and lease intangibles 7,689 10,056 8,737 11,632 Accumulated depreciation (2,386) (4,166) Real estate properties held for sale, net $ 6,351 $ 7,466

Debt, net (Tables)

Debt, net (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	The table below details the Company's debt as of September 30, 2024 and December 31, 2023. Balance as of (Dollars in thousands) September 30, 2024 December 31, 2023 Maturity Dates Credit Facility: Revolving Credit Facility $ 125,000 $ 50,000 3/26 A-3 Term Loan, net 74,822 74,730 3/26 A-4 Term Loan, net 124,607 124,522 3/28 A-5 Term Loan, net 149,287 149,189 3/30 Mortgage Note Payable, net — 4,815 5/24 $ 473,716 $ 403,256

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2024 and December 31, 2023. Asset Derivatives Fair Value at Liability Derivatives Fair Value at (Dollars in thousands) September 30, 2024 December 31, 2023 Balance Sheet Classification September 30, 2024 December 31, 2023 Balance Sheet Classification Interest rate swaps $ 10,492 $ 16,417 Other assets, net $ 476 $ — Other liabilities, net Offsetting of Derivative Assets (as of September 30, 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 $ 10,492 $ — $ 10,492 $ (476) $ — $ 10,016 Offsetting of Derivative Liabilities (as of September 30, 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 $ (476) $ — $ (476) $ 476 $ — $ — 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 and nine months ended September 30, 2024 and 2023. Three Months Ended Nine Months Ended (Dollars in thousands) 2024 2023 2024 2023 Amount of unrealized (loss) gain recognized in OCI on derivative $ (8,749) $ 8,691 $ 1,824 $ 13,593 Amount of gain reclassified from AOCI into interest expense $ (2,725) $ (2,738) $ (8,225) $ (7,222) Total interest expense presented in the Condensed Consolidated Statements of Operations in which the effects of the cash flow hedges are recorded $ 6,253 $ 4,641 $ 17,301 $ 12,773

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2024 and for the year ended December 31, 2023: (In thousands) Nine Months Ended Year Ended Balance, beginning of period 27,613 25,897 Issuance of common stock 313 1,385 Vested RSUs 11 — Restricted stock issued, net of withheld shares and forfeitures 305 331 Balance, end of period 28,242 27,613 _____________
Schedule of ATM Program	As of September 30, 2024, the Company had approximately $426.3 million remaining that may be issued under the ATM Program. Three Months Ended Nine Months Ended Shares issued ( in thousands ) — 313 Net proceeds received ( in millions) — $7.5 Average gross sales price per share — $24.38

Net Income (Loss) Per Common _2

Net Income (Loss) Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of 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 and nine months ended September 30, 2024 and 2023, respectively. Three Months Ended Nine Months Ended (In thousands, except per share data) 2024 2023 2024 2023 Net income (loss) $ 1,749 $ 3,492 $ (5,013) $ 3,147 Participating securities' share in earnings (756) (622) (2,075) (1,995) Net income (loss), less participating securities' share in earnings $ 993 $ 2,870 $ (7,088) $ 1,152 Weighted average Common Shares outstanding Weighted average Common Shares outstanding 28,168 26,823 27,910 26,411 Unvested restricted shares (1,508) (1,309) (1,431) (1,471) Weighted average Common Shares outstanding–Basic 26,660 25,514 26,479 24,940 Weighted average Common Shares outstanding –Diluted 26,660 25,514 26,479 24,940 Basic Net Income (Loss) Per Common Share $ 0.04 $ 0.11 $ (0.27) $ 0.05 Diluted Net Income (Loss) Per Common Share $ 0.04 $ 0.11 $ (0.27) $ 0.05

Stock Incentive Plan (Tables)

Stock Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Nonvested Restricted Stock Activity	A summary of restricted stock activity for the three and nine months ended September 30, 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 Nine Months Ended (Dollars and shares in thousands) 2024 2023 2024 2023 Stock-based awards, beginning of period 1,417 1,203 1,374 1,708 Stock in lieu of compensation 98 57 157 141 Stock awards 97 114 182 220 Total stock granted 195 171 339 361 Vested shares (1) (51) — (152) (692) Forfeited shares (1) — (1) (3) Stock-based awards, end of period 1,560 1,374 1,560 1,374 Amortization expense (1) $ 2,255 $ 1,898 $ 6,514 $ 17,936 ___________ (1) Amortization expense for the nine months ended September 30, 2023 included accelerated amortization totaling approximately $11.8 million recognized during the three months ended March 31, 2023, upon the passing of our former CEO and President. These shares vested during the three months ended June 30, 2023. A summary of the Company's RSU activity during the three and nine months ended September 30, 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 September 30, Nine Months Ended September 30, (Dollars and RSUs in thousands) 2024 2023 2024 2023 Restricted Stock Units, beginning of period 134 — — — Absolute TSR Performance-based RSUs granted (1) — — 57 — Relative TSR Performance-based RSUs granted (1) — — 43 — Time-based RSUs granted (2) — — 34 — Total RSUs granted — — 134 — Vested RSUs (2) (11) — (11) — Restricted Stock Units, end of period 123 — 123 — Amortization expense $ 242 $ — $ 876 $ — Grant Date Value Remaining at period end to be Amortized During the Performance Period $ 1,694 $ — $ 1,694 $ — ______________ (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, 2025 and 2026. The first tranche of the 11,206 Time-Based RSUs was fully amortized as of June 30, 2024 and vested on July 1, 2024, the next business day after June 30, 2024.
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

Other Assets, net (Tables)

Other Assets, net (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2024 and December 31, 2023 are detailed in the table below. Balance as of (Dollars in thousands) September 30, 2024 December 31, 2023 Notes receivable, net of credit loss reserve $ 20,280 $ 30,775 Straight-line rent receivables, net 19,711 18,481 Fair value of interest rate swaps 10,492 16,417 Leasing commissions, net 3,920 2,312 Sales-type lessor receivable 3,017 3,028 Financing lease right-of-use assets 2,442 2,486 Prepaid assets 2,294 1,203 Accounts receivable, net 2,137 2,739 Above-market intangible assets, net 2,126 2,645 Interest receivable, net 1,798 1,906 Operating lease right of use assets 706 729 Deferred financing costs, net 312 471 Other 641 684 $ 69,876 $ 83,876
Schedule of VIEs	The VIEs that we have identified at September 30, 2024 are summarized in the table below. Classification Carrying Amount (in thousands) Maximum Exposure to Loss (in thousands) Note receivable (term loan) $ 3,750 $ 3,750 Note receivable (revolving credit facility) $ 2,220 $ 2,220 Note receivable (mortgage note) $ 2,000 $ 2,000 Notes receivable (revolving credit facility and term loan), net of credit loss $ 12,310 $ 12,310

Other Liabilities, net (Tables)

Other Liabilities, net (Tables)	9 Months Ended
	Sep. 30, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Other Liabilities	Other liabilities, net on the Company's Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 are detailed in the table below. Balance as of (Dollars in thousands) September 30, 2024 December 31, 2023 Prepaid rent $ 5,880 $ 5,378 Security deposits 2,951 3,765 Below-market lease intangibles, net 2,593 3,188 Fair value of interest rate swaps 476 — Financing lease liability 3,265 3,277 Operating lease liability 766 775 Other 558 485 $ 16,489 $ 16,868

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 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 and mortgage note receivable, interest rate swaps, and mortgage note payable at September 30, 2024 and December 31, 2023, using level 2 and level 3 inputs. September 30, 2024 December 31, 2023 (Dollars in thousands) Carrying Value Fair Value Carrying Value Fair Value Notes and mortgage note receivable (Level 2) $ 7,970 $ 7,835 $ 8,340 $ 8,159 Notes receivable, net of credit loss (1) $ 12,310 $ 12,310 $ 22,435 $ 23,040 Interest rate swap asset $ 10,492 $ 10,492 $ 16,417 $ 16,417 Interest rate swap liability $ 476 $ 476 $ — $ — Mortgage note payable (principal amount) $ — $ — $ 4,821 $ 4,791 ___________________ (1) Calculated utilizing Level 3 inputs at September 30, 2024 and Level 2 inputs at December 31, 2023.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands, ft² in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) ft² realEstateProperty state segment	Dec. 31, 2023 USD ($) realEstateProperty
Accounting Policies [Abstract]
Total real estate properties | $	$ 1,144,838
Number of real estate properties | realEstateProperty	198
Number of properties held for investment in financing lease | realEstateProperty	1
Sales-type lessor receivable | $	$ 3,017	$ 3,028
Number of properties held for sale | realEstateProperty	1	2
Properties held for sale | $	$ 6,400
Number of states | state	35
Area of real estate property (in square feet) | ft²	4.4
Percentage leased	91.30%
Remaining lease term	6 years 9 months 18 days
Number of reportable segments | segment	1

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 2,836	$ 3,491	$ 3,885
Restricted cash	0	1,142	1,048
Cash, cash equivalents and restricted cash	$ 2,836	$ 4,633	$ 4,933	$ 12,068

Real Estate Investments - Addit

Real Estate Investments - Additional Information (Details) $ in Thousands	Sep. 30, 2024 USD ($) realEstateProperty	Dec. 31, 2023 USD ($) realEstateProperty
Real Estate Properties [Line Items]
Total real estate properties	$ 1,144,838
Number of real estate properties | realEstateProperty	198
Number of properties held for investment in financing lease | realEstateProperty	1
Sales-type lessor receivable	$ 3,017	$ 3,028
Number of properties held for sale | realEstateProperty	1	2
Properties held for sale	$ 6,400
Held for sale
Real Estate Properties [Line Items]
Properties held for sale	$ 6,400

Real Estate Investments - Sched

Real Estate Investments - Schedule of Real Estate Property Investments (Details) $ in Thousands	Sep. 30, 2024 USD ($) realEstateProperty
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	198
Total real estate properties | $	$ 1,144,838
Lifepoint Health
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	5
Total real estate properties | $	$ 86,682
US HealthVest
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	3
Total real estate properties | $	$ 77,964
All Others (less than 4%)
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	190
Total real estate properties | $	$ 980,192
Texas
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	17
Total real estate properties | $	$ 185,738
Illinois
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	18
Total real estate properties | $	$ 132,814
Ohio
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	26
Total real estate properties | $	$ 115,313
Florida
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	25
Total real estate properties | $	$ 110,114
Pennsylvania
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	16
Total real estate properties | $	$ 67,483
All Others
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	96
Total real estate properties | $	$ 533,376
Medical Office Building
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	96
Total real estate properties | $	$ 478,005
Inpatient Rehabilitation Hospitals
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	9
Total real estate properties | $	$ 198,319
Acute Inpatient Behavioral
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	5
Total real estate properties | $	$ 130,535
Specialty Centers
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	37
Total real estate properties | $	$ 117,989
Physician Clinics
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	31
Total real estate properties | $	$ 94,965
Surgical Centers and Hospitals
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	9
Total real estate properties | $	$ 58,474
Behavioral Specialty Facilities
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	9
Total real estate properties | $	$ 45,067
Long-term Acute Care Hospitals
Real Estate Properties [Line Items]
Number of real estate properties | realEstateProperty	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	Sep. 30, 2024 USD ($)
Leases [Abstract]
2024 (three months ended December 31)	$ 25,911
2025	99,363
2026	90,380
2027	82,587
2028	75,773
2029 and thereafter	411,035
Total	$ 785,049

Real Estate Leases - Additional

Real Estate Leases - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) realEstateProperty lease	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) realEstateProperty lease	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Concentration Risk [Line Items]
Straight line rent	$ 700	$ 400	$ 1,230	$ 2,180
Real estate investment property, net	$ 902,716		$ 902,716		$ 849,437
Number of real estate properties | realEstateProperty	198		198
Number of properties held for investment in financing lease | realEstateProperty	1		1
Sales-type lessor receivable	$ 3,017		$ 3,017		$ 3,028
Interest income	$ 100	$ 100	$ 200	$ 200
Number of operating leases | lease	4		4
Number of finance leases | lease	2		2
Eleven Real Estate Property
Concentration Risk [Line Items]
Real estate investment property, net	$ 32,900		$ 32,900
Number of real estate properties | realEstateProperty	10		10

Real Estate Leases - Lease Rece

Real Estate Leases - Lease Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
2024 (three months ended December 31)	$ 88
2025	356
2026	367
2027	378
2028	389
2029 and thereafter	4,821
Total undiscounted lease receivable	6,399
Discount	(3,382)
Sales-type lessor receivable	$ 3,017	$ 3,028

Real Estate Leases - Future Lea

Real Estate Leases - Future Lease Payments Under Non-prepaid Ground Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Operating
2024 (three months ended December 31)	$ 11
2025	44
2026	44
2027	45
2028	46
2029 and thereafter	1,102
Total undiscounted lease payments	1,292
Discount	(526)
Lease liabilities	766	$ 775
Financing
2024 (three months ended December 31)	37
2025	154
2026	154
2027	154
2028	154
2029 and thereafter	6,802
Total undiscounted lease payments	7,455
Discount	(4,190)
Lease liabilities	$ 3,265	$ 3,277

Real Estate Leases - Ground Lea

Real Estate Leases - Ground Leases (Details)	Sep. 30, 2024	Sep. 30, 2023
Operating leases:
Weighted-average remaining lease term in years (including renewal options)	34 years 2 months 12 days	35 years 4 months 24 days
Weighted-average discount rate	4%	4%
Financing leases:
Weighted-average remaining lease term in years (including renewal options)	39 years 1 month 6 days	40 years 1 month 6 days
Weighted-average discount rate	4.30%	4.30%

Real Estate Acquisitions, Dis_3

Real Estate Acquisitions, Disposition, And Assets Held For Sale - Additional Information (Details) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2024 USD ($) ft² realEstateProperty	Jun. 30, 2024 realEstateProperty	Mar. 31, 2024 transaction realEstateProperty	Sep. 30, 2024 USD ($) ft² realEstateProperty	Dec. 31, 2023 realEstateProperty
Business Acquisition [Line Items]
Area of real estate property (in square feet) | ft²	4,400,000			4,400,000
Number of properties held for sale | realEstateProperty	1			1	2
Disposed of by sale | Surgical Center
Business Acquisition [Line Items]
Area of real estate property (in square feet) | ft²	11,200			11,200
Proceeds from sale of property	$ 1,000
Acquisitions Of Properties During Q3 2024
Business Acquisition [Line Items]
Number of real estate properties acquired | realEstateProperty	1
Percentage of properties that were leased at acquisition (in percent)	100%
Pro forma information, revenue of acquiree since acquisition date, actual	$ 116
Pro forma information, earnings or loss of acquiree since acquisition date, actual	26
Transaction costs	$ 123
Acquisitions Of Properties During Q2 2024
Business Acquisition [Line Items]
Number of real estate properties acquired | realEstateProperty		1
Percentage of properties that were leased at acquisition (in percent)		100%
Pro forma information, revenue of acquiree since acquisition date, actual				$ 1,100
Pro forma information, earnings or loss of acquiree since acquisition date, actual				800
Transaction costs				47
Acquisitions Of Properties During Q1 2024
Business Acquisition [Line Items]
Number of real estate properties acquired | realEstateProperty			4
Percentage of properties that were leased at acquisition (in percent)			98.60%
Pro forma information, revenue of acquiree since acquisition date, actual				2,100
Pro forma information, earnings or loss of acquiree since acquisition date, actual				1,000
Transaction costs				$ 300
Number of transactions | transaction			3

Real Estate Acquisitions, Dis_4

Real Estate Acquisitions, Disposition, And Assets Held For Sale - Summary of Property Acquisitions (Details) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2024 USD ($) ft² realEstateProperty	Jun. 30, 2024 realEstateProperty	Mar. 31, 2024 realEstateProperty	Sep. 30, 2024 USD ($) ft² realEstateProperty
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square footage (in square feet) | ft²	4,400,000			4,400,000
Acquisitions Of Properties During Q1 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Properties | realEstateProperty			4
Acquisitions Of Properties During Q1 2024 | New Bedford, MA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Properties | realEstateProperty				1
Purchase Price				$ 6,500
Cash Consideration				6,540
Real Estate	$ 6,547			6,547
Other				$ (7)
Square footage (in square feet) | ft²	70,657			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]
Number of Properties | realEstateProperty				1
Purchase Price				$ 4,500
Cash Consideration				4,578
Real Estate	$ 4,757			4,757
Other				$ (179)
Square footage (in square feet) | ft²	19,656			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]
Number of Properties | realEstateProperty				2
Purchase Price				$ 23,200
Cash Consideration				23,179
Real Estate	$ 23,375			23,375
Other				$ (196)
Square footage (in square feet) | ft²	74,700			74,700
Acquisitions Of Properties During Q2 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Properties | realEstateProperty		1
Acquisitions Of Properties During Q2 2024 | San Antonio, TX
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Properties | realEstateProperty				1
Purchase Price				$ 23,500
Cash Consideration				23,547
Real Estate	$ 23,547			23,547
Other				$ 0
Square footage (in square feet) | ft²	38,009			38,009
Acquisitions Of Properties During Q3 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Properties | realEstateProperty	1
Acquisitions Of Properties During Q3 2024 | Camp Hill, PA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Properties | realEstateProperty				1
Purchase Price				$ 6,200
Cash Consideration				6,308
Real Estate	$ 6,323			6,323
Other				$ (15)
Square footage (in square feet) | ft²	20,400			20,400
Acquisitions Of Properties During 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price				$ 63,900
Cash Consideration				64,152
Real Estate	$ 64,549			64,549
Other				$ (397)
Square footage (in square feet) | ft²	223,422			223,422

Real Estate Acquisitions, Dis_5

Real Estate Acquisitions, Disposition, And Assets Held For Sale - Assets Acquired and Liabilities Assumed (Details) - Series of Individually Immaterial Asset Acquisitions $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Business Acquisition [Line Items]
Land and land improvements	$ 7,659
Building and building improvements	53,116
Intangibles:
Below-market lease intangibles	$ (275)
Below market lease useful life (in years)	2 years
Total intangibles	$ 3,620
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	(97)
Total cash consideration	64,152
In-place lease intangibles
Intangibles:
Lease intangibles	$ 3,774
Intangibles useful life (in years)	3 years 8 months 12 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)	9 years 2 months 12 days
Building and building improvements
Business Acquisition [Line Items]
Estimated useful life (in years)	35 years

Real Estate Acquisitions, Dis_6

Real Estate Acquisitions, Disposition, And Assets Held For Sale - Schedule of Assets and Liabilities Classified as Held for Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate properties held for sale, net	$ 6,400
Held for sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate properties held for sale, net	6,400
Held for sale | Real estate properties 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	8,737	$ 11,632
Accumulated depreciation	(2,386)	(4,166)
Real estate properties held for sale, net	6,351	7,466
Held for sale | Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate assets held for sale, gross	1,048	1,576
Held for sale | 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	$ 7,689	$ 10,056

Debt, net - Schedule of Debt (D

Debt, net - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt, net	$ 473,716	$ 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	0	4,815
Revolving Credit Facility | Line of Credit | Third Amended And Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	125,000	50,000
A-3 Term Loan, net | Term Loan | Third Amended And Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	74,822	74,730
A-4 Term Loan, net | Term Loan | Third Amended And Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	124,607	124,522
A-5 Term Loan, net | Term Loan | Third Amended And Restated Credit Facility
Debt Instrument [Line Items]
Debt, net	$ 149,287	$ 149,189

Debt, net - Additional Informat

Debt, net - Additional Information (Details)	9 Months Ended
	Sep. 30, 2024 USD ($) option	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Line of Credit Facility [Line Items]
Debt, net	$ 473,716,000		$ 403,256,000
Mortgage Note Payable, net
Line of Credit Facility [Line Items]
Debt, net	0		4,815,000
Debt instrument, balloon payment to be paid		$ 4,800,000
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 | Secured Overnight Financing Rate (SOFR) | Minimum
Line of Credit Facility [Line Items]
Variable rate percentage	1.65%
Third Amended And Restated Credit Facility | Term Loan | Secured Overnight Financing Rate (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 SOFR | 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	$ 125,000,000		50,000,000
Weighted average interest rate percentage	6.58%
Remaining borrowing capacity	$ 25,000,000
Third Amended And Restated Credit Facility | Revolving Credit Facility | Line of Credit | Secured Overnight Financing Rate (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 | Secured Overnight Financing Rate (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-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	$ 74,822,000		74,730,000
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	$ 124,607,000		124,522,000
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	149,287,000		$ 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	9 Months Ended
	Sep. 30, 2024 USD ($) derivative_instrument
Derivative [Line Items]
Cash flow hedges reclassified to interest expense	$ 5.4
Cash Flow Hedging | Interest Rate Contract
Derivative [Line Items]
Number outstanding interest rate derivatives | derivative_instrument	15
Notional amount	$ 350

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Fair Value Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Interest rate swap asset	$ 10,492	$ 16,417
Interest rate swap liability	$ 476	$ 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	$ 10,492	$ 16,417
Interest rate swap liability	$ 476	$ 0

Derivative Financial Instrume_5

Derivative Financial Instruments - Schedule of Cash Flow Hedging (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss), statement of income or comprehensive income [Extensible Enumeration]	Interest Expense, Nonoperating	Interest Expense, Nonoperating	Interest Expense, Nonoperating	Interest Expense, Nonoperating
Interest Rate Contract | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of unrealized (loss) gain recognized in OCI on derivative	$ (8,749)	$ 8,691	$ 1,824	$ 13,593
Total interest expense presented in the Condensed Consolidated Statements of Operations in which the effects of the cash flow hedges are recorded	6,253	4,641	17,301	12,773
Interest Rate Contract | Cash Flow Hedging | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain reclassified from AOCI into interest expense	$ (2,725)	$ (2,738)	$ (8,225)	$ (7,222)

Derivative Financial Instrume_6

Derivative Financial Instruments - Schedule of Offsetting of Derivative Assets and Liability (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative Asset [Abstract]
Gross Amounts of Recognized Assets	$ 10,492	$ 16,417
Gross Amounts Offset in the Condensed Consolidated Balance Sheet	0	0
Net Amounts of Assets in the Condensed Consolidated Balance Sheets	10,492	16,417
Gross amounts not offset in the condensed consolidated balance sheets, financial instruments	(476)	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	10,016	16,417
Derivative Liability [Abstract]
Gross Amounts of Recognized Liabilities	(476)	0
Gross Amounts Offset in the Condensed Consolidated Balance Sheet	0	0
Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets	(476)	0
Gross amounts not offset in the condensed consolidated balance sheets, financial instruments	476	0
Gross amounts not offset in the condensed consolidated balance sheets, cash collateral received	0	0
Gross amounts not offset in the condensed consolidated balance sheets, net amount	$ 0	$ 0

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Reconciliation of Common Stock (Details) - shares shares in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 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)	313	1,385
Restricted stock issued (in shares)	305	331
Balance, end of period (in shares)	28,242	27,613
Vested RSUs (in shares)	11	0

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - At The Market Offering Program - Common Stock $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Subsidiary, Sale of Stock [Line Items]
Value of shares authorized	$ 500
Shares available for issuance	$ 426.3

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of ATM Program (Details) - Common Stock - At The Market Offering Program - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Class of Stock [Line Items]
Shares issued (in shares)	0	313
Net proceeds received	$ 0	$ 7.5
Average gross sales price per share (in dollars per share)	$ 0	$ 24.38

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income (loss)	$ 1,749	$ 3,492	$ (5,013)	$ 3,147
Participating securities' share in earnings	(756)	(622)	(2,075)	(1,995)
Net income (loss), less participating securities' share in earnings	$ 993	$ 2,870	$ (7,088)	$ 1,152
Weighted average Common Shares outstanding
Weighted average common shares outstanding (in shares)	28,168	26,823	27,910	26,411
Unvested restricted shares (in shares)	(1,508)	(1,309)	(1,431)	(1,471)
Weighted average common shares outstanding – basic (in shares)	26,660	25,514	26,479	24,940
Weighted average common shares outstanding –diluted (in shares)	26,660	25,514	26,479	24,940
Basic net income (loss) per common share (in dollars per share)	$ 0.04	$ 0.11	$ (0.27)	$ 0.05
Diluted net income (loss) per common share (in dollars per share)	$ 0.04	$ 0.11	$ (0.27)	$ 0.05

Stock Incentive Plan - Shares P

Stock Incentive Plan - Shares Plan (Details)	May 02, 2024 shares
2024 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	1,150,000

Stock Incentive Plan - Schedule

Stock Incentive Plan - Schedule of Nonvested Restricted Stock Activity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Stock-based awards:
Vested (in shares)				(11)		0
Stock-based compensation expense				$ 7,400	$ 17,900
Accelerated amortization of stock-based compensation			$ 11,800	$ 0	$ 11,799
Restricted Common Stock
Stock-based awards:
Stock-based awards, beginning of period (in shares)	1,417	1,203	1,708	1,374	1,708	1,708
Granted (in shares)	195	171		339	361
Vested (in shares)	(51)	0		(152)	(692)
Forfeited (in shares)	(1)	0		(1)	(3)
Stock-based awards, end of period (in shares)	1,560	1,374		1,560	1,374	1,374
Stock-based compensation expense	$ 2,255	$ 1,898		$ 6,514	$ 17,936
Stock in lieu of compensation
Stock-based awards:
Granted (in shares)	98	57		157	141
Stock awards
Stock-based awards:
Granted (in shares)	97	114		182	220

Stock Incentive Plan - Addition

Stock Incentive Plan - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions						3 Months Ended			9 Months Ended
	Jun. 03, 2024	May 16, 2024	May 02, 2024	Jan. 12, 2024	Jan. 02, 2024	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jan. 01, 2024
2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee percentage of salary (in percent)											100%
2024 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee percentage of salary (in percent)					50%
Restricted Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)						195,000		171,000	339,000	361,000
Restricted Common Stock | 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period							8 years
Restricted Common Stock | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Granted (in shares)	7,000			79,533
Restricted Common Stock | Employee | 2024 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)						195,447
Restricted Common Stock | Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years	3 years	5 years
Granted (in shares)		24,887	22,070	10,159
Stock in lieu of compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)						98,000		57,000	157,000	141,000
Stock in lieu of compensation | 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)				43,292
Stock in lieu of compensation | 2024 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)						98,111
Stock in lieu of compensation | Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		15,553
Restricted period | 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)				36,241
Restricted period | 2024 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)						97,336
Restricted period | Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		9,334
RSU | 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)								0		0
Performance period					3 years
RSU | 2014 Incentive Plan | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period					3 years
Fair value of shares granted					$ 2.6
Weighted average grant date fair value (in dollar per share)					$ 19.24
RSU | 2024 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)						0
Absolute TSR Units | 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)								0		0
Absolute TSR Units | 2014 Incentive Plan | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollar per share)					13.67
Absolute TSR Units | 2024 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)						0
Relative TSR Units | 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)								0		0
Relative TSR Units | 2014 Incentive Plan | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollar per share)					20.77
Relative TSR Units | 2024 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)						0
Time-Based TSR Units | 2014 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)								0		0
Time-Based TSR Units | 2014 Incentive Plan | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollar per share)					$ 26.62
Time-Based TSR Units | 2024 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)						0
Minimum | Restricted Common Stock | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Minimum | Restricted Common Stock | Employee | 2024 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						3 years
Maximum | Restricted Common Stock | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				8 years
Maximum | Restricted Common Stock | Employee | 2024 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						8 years

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 ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 01, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Amortization expense				$ 7,400	$ 17,900
Vested RSUs (in shares)				11,000		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	0
Granted (in shares)			0		0
Stock-based awards, end of period (in shares)			0		0
Amortization expense			$ 0		$ 0
Grant Date Value Remaining at period end to be Amortized During the Performance Period			$ 0		$ 0
Vested RSUs (in shares)			0		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%
RSU | 2024 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Stock-based awards, beginning of period (in shares)	134,000	134,000
Granted (in shares)		0
Stock-based awards, end of period (in shares)		123,000		123,000
Amortization expense		$ 242
Grant Date Value Remaining at period end to be Amortized During the Performance Period		$ 1,694
Vested RSUs (in shares)		11,000
RSU | 2014 and 2024 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Stock-based awards, beginning of period (in shares)				0
Granted (in shares)				134,000
Stock-based awards, end of period (in shares)		123,000		123,000		0
Amortization expense				$ 876
Grant Date Value Remaining at period end to be Amortized During the Performance Period				$ 1,694
Vested RSUs (in shares)				11,000
Absolute TSR Units | 2014 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)			0		0
Absolute TSR Units | 2024 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)		0
Absolute TSR Units | 2014 and 2024 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)				57,000
Relative TSR Units | 2014 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)			0		0
Relative TSR Units | 2024 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)		0
Relative TSR Units | 2014 and 2024 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)				43,000
Time-Based TSR Units | 2014 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)			0		0
Vested RSUs (in shares)	11,206
Time-Based TSR Units | 2024 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)		0
Time-Based TSR Units | 2014 and 2024 Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)				34,000

Other Assets, net - Schedule of

Other Assets, net - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Notes receivable, net of credit loss reserve	$ 20,280	$ 30,775
Straight-line rent receivables, net	19,711	18,481
Fair value of interest rate swaps	10,492	16,417
Leasing commissions, net	3,920	2,312
Sales-type lessor receivable	3,017	3,028
Financing lease right-of-use assets	2,442	2,486
Prepaid assets	2,294	1,203
Accounts receivable, net	2,137	2,739
Above-market intangible assets, net	2,126	2,645
Interest receivable, net	1,798	1,906
Operating lease right of use assets	706	729
Deferred financing costs, net	312	471
Other	641	684
Other assets, net	$ 69,876	$ 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)	2 Months Ended	9 Months Ended
	Dec. 31, 2024 USD ($)	Sep. 30, 2024 USD ($) hospital	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Geriatric Behavioral Hospital
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of properties used to secure notes by borrower | hospital		6
Term Loan | Long-term Acute Care Hospitals
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of properties used to secure notes by borrower | hospital		7
Term Loan | Inpatient Rehabilitation Hospitals
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of properties used to secure notes by borrower | hospital		1
Notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable interest rate		9%
Non-cash interest rate		3%
Receivable allowance			$ 1,400,000
Notes receivable | Revolving Credit Facility
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable interest rate		9%
Notes receivable | Revolving Credit Facility | Forecast
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment received	$ 40,000
Notes receivable | Geriatric Inpatient Behavioral Hospital
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivable allowance			$ 11,000,000
Notes receivable | Term Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable		$ 3,800,000		$ 6,000,000
Payment received		$ 250,000
Note receivable interest rate		9%
Note Receivable 4 | Variable Interest Entity, Not Primary Beneficiary | Revolving Credit Facility
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable		$ 6,300,000		5,400,000
Note Receivable 4 | Term Loan | Variable Interest Entity, Not Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable		17,000,000		17,000,000
Note receivable (revolving credit facility) | Unfunded Loan Commitment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable		$ 2,200,000
Note receivable (revolving credit facility) | Revolving Credit Facility
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable interest rate		9%
Non-cash interest rate		3%
Note receivable (revolving credit facility) | Variable Interest Entity, Not Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable		$ 2,220,000		$ 2,300,000
Notes receivable (revolving credit facility and term loan), net of credit loss | Unfunded Loan Commitment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable		$ 2,000,000
Note receivable (mortgage note)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable interest rate		10%
Note receivable (mortgage note) | Variable Interest Entity, Not Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable		$ 2,000,000

Other Assets, net - Schedule _2

Other Assets, net - Schedule of VIEs (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Notes receivable, net of credit loss reserve	$ 20,280	$ 30,775
Variable Interest Entity, Not Primary Beneficiary | Note receivable (term loan)
Variable Interest Entity [Line Items]
Note receivable	3,750
Maximum exposure to loss	3,750
Variable Interest Entity, Not Primary Beneficiary | Note receivable (revolving credit facility)
Variable Interest Entity [Line Items]
Note receivable	2,220	$ 2,300
Maximum exposure to loss	2,220
Variable Interest Entity, Not Primary Beneficiary | Note receivable (mortgage note)
Variable Interest Entity [Line Items]
Note receivable	2,000
Maximum exposure to loss	2,000
Variable Interest Entity, Not Primary Beneficiary | Notes receivable (revolving credit facility and term loan), net of credit loss
Variable Interest Entity [Line Items]
Notes receivable, net of credit loss reserve	12,310
Maximum exposure to loss	$ 12,310

Other Liabilities, net (Details

Other Liabilities, net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Prepaid rent	$ 5,880	$ 5,378
Security deposits	2,951	3,765
Below-market lease intangibles, net	2,593	3,188
Fair value of interest rate swaps	476	0
Financing lease liability	3,265	3,277
Operating lease liability	766	775
Other	558	485
Other liabilities, net	$ 16,489	$ 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	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable, net of credit loss	$ 20,280	$ 30,775
Interest rate swap asset	10,492	16,417
Interest rate swap liability	476	0
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable, net of credit loss	12,310	22,435
Mortgage note payable (principal amount)	0	4,821
Carrying Value | Notes receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes and mortgage note receivable	7,970	8,340
Carrying Value | Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap asset	10,492	16,417
Interest rate swap liability	476	0
Fair Value | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable, net of credit loss		23,040
Mortgage note payable (principal amount)	0	4,791
Fair Value | Fair Value, Inputs, Level 2 | Notes receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes and mortgage note receivable	7,835	8,159
Fair Value | Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable, net of credit loss	12,310
Fair Value | Interest rate swaps | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap asset	10,492	16,417
Interest rate swap liability	$ 476	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) project
Tenant Improvements Allowances
Other Commitments [Line Items]
Commitment	$ 26
Tenant Improvements, Redevelopment Projects
Other Commitments [Line Items]
Commitment	$ 13.1
Number of projects | project	6
Capital Improvements
Other Commitments [Line Items]
Commitment	$ 3.1
Capital Improvements, Redevelopment Projects
Other Commitments [Line Items]
Commitment	$ 0.8
Number of projects | project	6

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)			3 Months Ended		9 Months Ended
	Oct. 24, 2024	Oct. 16, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Subsequent Event [Line Items]
Dividend declared (in dollars per share)			$ 0.4625	$ 0.4525	$ 1.3800	$ 1.3500
Revolving Credit Facility | Third Amended And Restated Credit Facility | Line of Credit
Subsequent Event [Line Items]
Maximum borrowing capacity			$ 150,000,000		$ 150,000,000
Subsequent Event
Subsequent Event [Line Items]
Dividend declared (in dollars per share)	$ 0.465
Subsequent Event | Revolving Credit Facility | Third Amended And Restated Credit Facility | Line of Credit
Subsequent Event [Line Items]
Maximum borrowing capacity		$ 400,000,000
Decrease in variable rate		0.10%
Variable rate percentage		0.30%
Subsequent Event | A-3 Term Loan, net | Third Amended And Restated Credit Facility | Term Loan
Subsequent Event [Line Items]
Repayment of debt amount		$ 75,000,000