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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Dec. 31, 2022
Cash Flows from Operating Activities                    
Net income $ 41,657 $ 41,015 $ 41,774 $ 39,577 $ 36,130 $ 36,289 $ 124,446 $ 111,996    
Adjustments to reconcile net income to net cash provided by operating activities:                    
Depreciation and amortization 45,625     35,157     129,020 95,666    
Amortization from above (below) market lease intangibles, net             25,615 24,863    
Amortization from financing costs, credit facility costs and debt discount             3,468 2,938    
Stock-based compensation             6,180 4,892    
Straight-line accrued rent             (8,942) (9,419)    
Provision for impairment 3,195     0     4,510 1,015    
Gain (loss) on settlement of interest rate swaps             0 28,414    
(Gain) loss on sale of assets             (299) (5,326)    
(Increase) decrease in accounts receivable             (3,080) (15,233)    
(Increase) decrease in other assets             (7,929) 11,317    
Increase (decrease) in accounts payable, accrued expenses, and other liabilities             20,599 17,822    
Net Cash Provided by Operating Activities             293,588 268,945    
Cash Flows from Investing Activities                    
Acquisition of real estate investments and other assets             (1,010,182) (1,166,124)    
Development of real estate investments and other assets, net of reimbursements (including capitalized interest of $1,669 in 2023 and $816 in 2022)             (76,618) (60,968)    
Payment of leasing costs             (167) (372)    
Net proceeds from sale of assets             3,267 43,923    
Net Cash Used in Investing Activities             (1,083,700) (1,183,541)    
Cash Flows from Financing Activities                    
Proceeds from common stock offerings, net             689,986 1,151,881    
Repurchase of common shares             (2,672) (1,887)    
Unsecured revolving credit facility borrowings             1,005,000 925,000    
Unsecured revolving credit facility repayments             (1,056,000) (1,085,000)    
Payments of mortgage notes payable             (5,296) (633)    
Proceeds from unsecured term loan             350,000      
Proceeds from senior unsecured notes             0 297,513    
Payment of Series A preferred dividends             (5,578) (5,578)    
Payment of common stock dividends             (203,593) (157,063)    
Distributions to non-controlling interest             (756) (722)    
Payments for financing costs             (3,501) (2,651)    
Net Cash Provided by Financing Activities             767,590 1,120,860    
Net Increase (Decrease) in Cash and Cash Equivalents and Cash Held in Escrow             (22,522) 206,264    
Cash and cash equivalents and cash held in escrow, beginning of period     28,909     45,250 28,909 45,250 $ 251,514 $ 45,250
Cash and cash equivalents and cash held in escrow, end of period 6,387     251,514     6,387 251,514 6,387 28,909
Supplemental Disclosure of Cash Flow Information                    
Cash paid for interest (net of amounts capitalized)             47,829 45,703    
Cash paid for income tax             3,044 2,379    
Supplemental Disclosure of Non-Cash Investing and Financing Activities                    
Lease right of use assets added under new ground leases             0 1,816    
Mortgage note payable assumed, net of $2,548 mortgage debt discount             0 39,702    
Dividends declared and unpaid 25,131           25,131   25,131 $ 22,345
Change in accrual of development, construction and other real estate investment costs             2,435 2,342    
Preferred Stock [Member]                    
Cash Flows from Operating Activities                    
Net income 1,859 $ 1,859 $ 1,859 1,859 $ 1,859 $ 1,859        
Supplemental Disclosure of Non-Cash Investing and Financing Activities                    
Dividends declared and unpaid 620     620     620 620 620  
Common Stock [Member]                    
Supplemental Disclosure of Non-Cash Investing and Financing Activities                    
Dividends declared and unpaid $ 24,511     $ 20,807     $ 24,511 $ 20,807 $ 24,511