v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating activities      
Net income (loss) $ 30,522 $ 92,702 $ 77,302
Adjustments to reconcile net income including non-controlling interests to net cash provided by operating activities:      
Depreciation and amortization including intangibles associated with investment in rental property   105,700 96,312
Provision for impairment of investment in rental properties 25,989 5,535 28,001
Amortization of debt issuance costs charged to interest expense   2,626 2,725
Stock-based compensation expense   3,813 3,644
Straight-line rent, financing and sales-type lease adjustments   (13,665) (13,042)
Cost of debt extinguishment   231 368
Gain on sale of real estate (1,220) (5,328) (9,791)
Change in fair value of earnout liability 1,059 5,539
Cash Paid For Earnout Liability   (6,440)
Settlement of interest rate swaps   (5,580)
Other non-cash items   (3,371) 510
Changes in assets and liabilities, net of acquisition:      
Tenant and other receivables   1,029 664
Prepaid expenses and other assets   (955) 1,690
Accounts payable and other liabilities   3,071 (456)
Accrued interest payable   4,086 5,872
Net cash provided by operating activities   195,474 187,318
Investing activities      
Acquisition of rental property accounted for using the operating method   (583,989) (516,111)
Capital expenditures and improvements   (19,171) (1,451)
Proceeds from disposition of rental property, net   18,020 68,608
Change in deposits on investments in rental property   (18) 575
Net cash used in investing activities   (585,158) (448,379)
Financing activities      
Proceeds from issuance of common stock, net of $3,654 and $11,194 offering costs, discounts, and commissions in 2022 and 2021, respectively   222,829 253,170
Borrowings on mortgages, senior unsecured notes and unsecured term loans   500,000 381,810
Principal payments on mortgages and unsecured term loans   (252,086) (332,193)
Borrowings on unsecured revolving credit facility   641,283 216,600
Repayments on unsecured revolving credit facility   (518,000) (216,600)
Cash distributions paid to stockholders   (134,227) (113,304)
Cash distributions paid to non-controlling interests   (8,513) (8,638)
Cash paid for earnout liability   0 (6,608)
Debt issuance and extinguishment costs paid   (7,010) (3,827)
Net cash (used in) provided by financing activities   444,276 170,410
Net increase (decrease) in cash and cash equivalents and restricted cash   54,592 (90,651)
Cash and cash equivalents and restricted cash at beginning of period 20,077 27,769 110,728
Cash and cash equivalents and restricted cash at end of period 20,077 82,361 20,077
Reconciliation of cash and cash equivalents and restricted cash      
Cash and cash equivalents at beginning of period   21,669 100,486
Restricted cash at beginning of period   6,100 10,242
Cash and cash equivalents and restricted cash at beginning of period 20,077 27,769 110,728
Cash and cash equivalents at end of period 16,182 75,912 16,182
Restricted cash at end of period 3,895 6,449 3,895
Cash and cash equivalents and restricted cash at end of period $ 20,077 $ 82,361 $ 20,077