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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities    
Net income $ 36,289 $ 30,278
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 28,561 21,489
Amortization from above (below) market lease intangibles, net 8,178 4,756
Amortization from financing and credit facility costs 1,061 425
Stock-based compensation 1,635 1,499
Provision for impairment 1,015 0
Gain (loss) on settlement of interest rate swaps   501
(Gain) loss on sale of assets (2,310) (2,945)
(Increase) decrease in accounts receivable (5,980) (2,932)
(Increase) decrease in other assets (4,708) 6,803
Increase (decrease) in accounts payable, accrued expenses, and other liabilities (2,274) (14,079)
Net Cash Provided by Operating Activities 61,467 45,795
Cash Flows from Investing Activities    
Acquisition of real estate investments and other assets (413,098) (397,044)
Development of real estate investments and other assets, net of reimbursements (including capitalized interest of $112 in 2022 and $75 in 2021) (33,291) 1,683
Payment of leasing costs (45) (240)
Net proceeds from sale of assets 7,643 8,422
Net Cash Used in Investing Activities (438,791) (387,179)
Cash Flows from Financing Activities    
Proceeds from common stock offerings, net 250,684 258,105
Repurchase of common shares (1,745) (1,780)
Unsecured revolving credit facility borrowings (repayments), net 160,000 146,000
Payments of mortgage notes payable (209) (195)
Payment of Series A preferred dividends (1,859)  
Payment of common stock dividends (48,771) (60,957)
Distributions to non-controlling interest (237) (359)
Payments for financing costs (23) (16)
Net Cash Provided by Financing Activities 357,840 340,798
Net Increase (Decrease) in Cash and Cash Equivalents and Cash Held in Escrow (19,484) (586)
Cash and cash equivalents and cash held in escrow, beginning of period 45,250 7,955
Cash and cash equivalents and cash held in escrow, end of period 25,766 7,369
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest (net of amounts capitalized) 13,367 15,836
Cash paid for income tax 1,336 1,794
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Lease right of use assets added under new ground leases   6,302
Dividends declared and unpaid 17,763  
Change in accrual of development, construction and other real estate investment costs 411 7,179
Preferred Stock [Member]    
Cash Flows from Operating Activities    
Net income 1,859  
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Dividends declared and unpaid 620  
Common Stock [Member]    
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Dividends declared and unpaid $ 17,143 $ 13,350