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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash Flows from Operating Activities                  
Net income $ 44,528 $ 54,913 $ 45,014 $ 41,657 $ 41,015 $ 41,774 $ 144,455 $ 124,446  
Adjustments to reconcile net income to net cash provided by operating activities:                  
Depreciation and amortization 51,504     45,625     150,421 129,020  
Amortization from above (below) market lease intangibles, net             24,886 25,615  
Amortization from financing costs, credit facility costs and debt discount             4,610 3,468  
Stock-based compensation             7,993 6,180  
Straight-line accrued rent             (9,675) (8,942)  
Provision for impairment 2,694     3,195     7,224 4,510  
Gain on settlement of interest rate swaps             4,355    
Gain on sale of assets             (11,102) (299)  
Change in accounts receivable             (6,579) (3,080)  
Change in other assets             (12,577) (7,929)  
Change in accounts payable, accrued expenses, and other liabilities             36,564 20,599  
Net Cash Provided by Operating Activities             340,575 293,588  
Cash Flows from Investing Activities                  
Acquisition of real estate investments and other assets             (531,915) (1,010,182)  
Development of real estate investments and other assets, net of reimbursements (including capitalized interest of $1,126 in 2024 and $669 in 2023)             (67,163) (76,618)  
Payment of leasing costs             (1,562) (167)  
Net proceeds from sale of assets             63,573 3,267  
Net Cash Used in Investing Activities             (537,067) (1,083,700)  
Cash Flows from Financing Activities                  
Proceeds from common stock offerings, net             175,127 689,986  
Repurchase of common shares             (2,262) (2,672)  
Unsecured revolving credit facility borrowings             598,000 1,005,000  
Unsecured revolving credit facility repayments             (776,000) (1,056,000)  
Payments of mortgage notes payable             (717) (5,296)  
Proceeds from unsecured term loan             0 350,000  
Proceeds from senior unsecured notes             444,722    
Payment of common stock dividends             (225,341) (203,593)  
Distributions to non-controlling interest             (778) (756)  
Payments for financing costs             (11,968) (3,501)  
Net Cash Provided by Financing Activities             195,205 767,590  
Decrease in Cash and Cash Equivalents and Cash Held in Escrow             (1,287) (22,522)  
Cash and cash equivalents and cash held in escrow, beginning of period     14,524     28,909 14,524 28,909 $ 28,909
Cash and cash equivalents and cash held in escrow, end of period 13,237     6,387     13,237 6,387 14,524
Supplemental Disclosure of Cash Flow Information                  
Cash paid for interest (net of amounts capitalized)             63,165 47,829  
Cash paid for income tax             3,693 3,044  
Supplemental Disclosure of Non-Cash Investing and Financing Activities                  
Stock dividends declared and unpaid 26,587           26,587   $ 25,534
Change in accrual of development, construction and other real estate investment costs             4,384 2,435  
Additional lease right of use assets added under new ground leases             961    
Preferred Stock [Member]                  
Cash Flows from Operating Activities                  
Net income 1,859 $ 1,859 $ 1,859 1,859 $ 1,859 $ 1,859      
Preferred Stock [Member] | Series A Preferred Stock                  
Cash Flows from Financing Activities                  
Payment of Series A preferred dividends             (5,578) (5,578)  
Supplemental Disclosure of Non-Cash Investing and Financing Activities                  
Stock dividends declared and unpaid 620     620     620 620  
Common Stock [Member]                  
Supplemental Disclosure of Non-Cash Investing and Financing Activities                  
Stock dividends declared and unpaid $ 25,967     $ 24,511     $ 25,967 $ 24,511