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Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 33,817 $ 30,657
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 19,157 17,505
Amortization of debt issuance costs, debt discounts and prepaids 1,679 1,440
Amortization of commitment fees and note receivable discounts (103) (94)
Amortization of lease incentives 725 723
Straight-line rents adjustments (1,410) 308
Non-cash interest income on mortgage and other notes receivable (243) (25)
Gains on sales of real estate, net (114) (100)
Gains from equity method investment (415) (166)
Loan and realty losses (14) 10
Non-cash share-based compensation 2,558 2,155
Changes in operating assets and liabilities:    
Other assets, net (711) (3,631)
Accounts payable and accrued expenses (8,522) (7,523)
Deferred income 74 (432)
Net cash provided by operating activities 46,478 40,827
Cash flows from investing activities:    
Investments in mortgage and other notes receivable (19,135) (16,004)
Collections of mortgage and other notes receivable 19,918 2,621
Acquisitions of real estate (74,484) 0
Investments in renovations of existing real estate and equipment (2,183) (2,976)
Distributions from equity method investment 415 166
Net cash used in investing activities (75,469) (16,193)
Cash flows from financing activities:    
Proceeds from revolving credit facility 261,000 59,000
Payments on revolving credit facility (145,000) (55,500)
Payments on term loans (112) (105)
Equity issuance costs (47) 0
Proceeds from issuance of common shares, net 65,483 0
Distributions to noncontrolling interests (311) (248)
Dividends paid to stockholders (41,119) (39,069)
Taxes related to net settlement of equity awards (128) 0
Net cash provided by (used in) financing activities 139,766 (35,922)
Increase (decrease) in cash and cash equivalents and restricted cash 110,775 (11,288)
Cash and cash equivalents and restricted cash, beginning of period 26,502 24,617
Cash and cash equivalents and restricted cash, end of period 137,277 13,329
Supplemental disclosure of cash flow information:    
Interest paid, net of amounts capitalized 16,873 16,949
Supplemental disclosure of non-cash investing and financing activities:    
Real estate acquired in deed in lieu of foreclosure of mortgage note receivable 8,600 0
Change in accounts payable related to renovations of existing real estate (95) 36
Change in accounts payable related to distributions to noncontrolling interests (68) 37
Change in accounts payable from taxes paid on stock options exercised $ 8 $ 0