XML 17 R8.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 34,852 $ 34,488
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of deferred leasing costs 24,130 24,704
Amortization of deferred debt costs 1,122 941
Compensation costs of stock and option grants 843 908
Credit losses (recoveries) on operating lease receivables, net (27) 48
Decrease in accounts receivable and accrued income 4,401 3,068
Additions to deferred leasing costs (2,486) (903)
Decrease in other assets 3,315 1,013
Increase in accounts payable, accrued expenses and other liabilities 3,875 4,654
Decrease in deferred income (1,333) (2,437)
Net cash provided by operating activities 68,692 66,484
Cash flows from investing activities:    
Additions to real estate investments (14,109) (7,014)
Additions to development and redevelopment projects (85,257) (44,900)
Net cash used in investing activities (99,366) (51,914)
Cash flows from financing activities:    
Proceeds from notes payable 15,300 0
Repayments on notes payable (25,614) (53,531)
Proceeds from revolving credit facility 78,000 82,000
Repayments on revolving credit facility (23,000) (8,000)
Proceeds from construction loan 28,421 0
Additions to deferred debt costs (421) (3,388)
Proceeds from the issuance of:    
Common stock 1,087 6,981
Partnership units 0 1,322
Distributions to:    
Common stockholders (28,336) (27,208)
Noncontrolling interests (10,972) (10,576)
Net cash provided by (used in) financing activities 28,868 (17,997)
Net decrease in cash and cash equivalents (1,806) (3,427)
Cash and cash equivalents, beginning of period 13,279 14,594
Cash and cash equivalents, end of period 11,473 11,167
Supplemental disclosure of cash flow information:    
Cash paid for interest 22,676 19,689
Accrued capital expenditures included in accounts payable, accrued expenses, and other liabilities 26,364 16,220
Series D Cumulative Redeemable, 30,000 shares issued and outstanding    
Distributions to:    
Preferred stockholders (2,297) (2,297)
Series E Cumulative Redeemable, 44,000 shares issued and outstanding    
Distributions to:    
Preferred stockholders $ (3,300) $ (3,300)