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Condensed Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
USD ($)
Sep. 30, 2019
USD ($)
Sep. 30, 2018
USD ($)
Cash flows from operating activities:      
Net income $ 4,912 $ 22,334 $ 11,881
Adjustments to reconcile net income to cash flow from operating activities:      
Depreciation and amortization 13,434 38,602 33,590
Amortization of deferred financing costs   1,052 1,078
Stock compensation expense   2,400 1,966
Gain on sale of assets (2,390) (14,532)  
Amortization related to derivative instruments   495 (52)
Changes in assets and liabilities:      
Other assets   460 59
Accounts payable and accrued expenses   8,476 8,659
Accrued interest payable   63 291
Other liabilities   7 (157)
Net cash provided by (used in) operating activities   59,357 57,315
Cash flows from investing activities:      
Acquisition of real estate properties   (80,079) (154,082)
Disposition of real estate properties   38,731  
Capital expenditures   (33,825) (28,348)
Cash flow (used in) provided by investing activities   (75,173) (182,430)
Cash flows from financing activities:      
Proceeds from unsecured credit facility and term loans   161,060 169,000
Unsecured credit facility repayments   (110,500) (22,000)
Mortgage principal repayments   (3,347) (2,402)
Payments for deferred financing costs   (1,054) (16)
Proceeds from issuance of common stock   18,726 19,204
Distributions on common stock   (48,443) (36,527)
Distributions to noncontrolling interests   (482) (499)
Repurchase of shares related to equity award tax withholding   (642) (354)
Cash flow provided by (used in) financing activities   15,318 126,406
Net change in cash and cash equivalents, and restricted cash   (498) 1,291
Cash and cash equivalents, and restricted cash, beginning of period   16,045 14,619
Cash and cash equivalents, and restricted cash, end of the period 15,547 15,547 15,910
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheet      
Cash and cash equivalents 6,587 6,587 7,645
Restricted cash 8,960 8,960 8,265
Cash and cash equivalents, and restricted cash, end of the period $ 15,547 $ 15,547 $ 15,910