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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:        
Net income $ 11,564 $ 1,092 $ 16,064 $ 1,517
Adjustments to reconcile net income to cash flow from operating activities:        
Depreciation and amortization 17,384 15,232 50,699 45,291
Amortization of deferred financing costs     1,154 1,085
Stock compensation     5,914 4,761
(Gain on sale) loss on impairment of real estate assets, net (11,492) 1,840 (11,492) 1,840
Casualty losses 0 0 359 411
Amortization related to derivative instruments     920 890
Changes in assets and liabilities:        
Other assets     (2,518) (3,226)
Accounts payable and accrued expenses     12,834 8,289
Accrued interest payable     (268) (270)
Other liabilities     59 (22)
Cash flow provided by operating activities     73,725 60,566
Cash flows from investing activities:        
Acquisition of real estate properties     (139,231) (51,447)
Investments in unconsolidated real estate entities     (13,561)  
Disposition of real estate properties     39,182  
Capital expenditures     (31,827) (26,986)
Cash flow used in investing activities     (145,437) (78,433)
Cash flows from financing activities:        
Proceeds from unsecured credit facility and term loans     387,500 99,501
Unsecured credit facility repayments     (234,800) (44,000)
Mortgage principal repayments     (79,582) (37,871)
Payments for deferred financing costs     (1,261) (50)
Proceeds from issuance of common stock, net     41,481 49,630
Distributions on common stock     (37,249) (44,808)
Distributions to noncontrolling interests     (228) (369)
Repurchase of shares related to equity award tax withholding     (2,906) (1,490)
Cash flow provided by financing activities     72,955 20,543
Net change in cash and cash equivalents, and restricted cash     1,243 2,676
Cash and cash equivalents, and restricted cash, beginning of period     13,615 14,433
Cash and cash equivalents, and restricted cash, end of the period 14,858 17,109 14,858 17,109
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheet        
Cash and cash equivalents 8,720 9,891 8,720 9,891
Restricted cash 6,138 7,218 6,138 7,218
Cash and cash equivalents, and restricted cash, end of the period $ 14,858 $ 17,109 $ 14,858 $ 17,109