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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 18,263 $ 17,663
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of deferred leasing costs 12,029 12,017
Amortization of deferred debt costs 564 559
Non-cash compensation costs of stock and option grants 219 290
Credit losses (recoveries) on operating lease receivables, net 342 (96)
Decrease in accounts receivable and accrued income 1,876 3,805
Additions to deferred leasing costs (1,262) (1,519)
Decrease in other assets 377 1,083
Increase in accounts payable, accrued expenses and other liabilities 2,558 2,495
Decrease in deferred income (1,138) (199)
Net cash provided by operating activities 33,828 36,098
Cash flows from investing activities:    
Additions to real estate investments (5,832) (5,019)
Additions to development and redevelopment projects (39,737) (38,137)
Net cash used in investing activities (45,569) (43,156)
Cash flows from financing activities:    
Proceeds from mortgage notes payable 0 15,300
Repayments on mortgage notes payable (8,527) (17,419)
Proceeds from revolving credit facility 27,000 41,000
Repayments on revolving credit facility (29,000) (11,000)
Proceeds from construction loans payable 31,533 0
Additions to deferred debt costs 0 (378)
Proceeds from the issuance of:    
Common stock 603 543
Partnership units 11,741 0
Distributions to:    
Common stockholders (14,208) (14,171)
Noncontrolling interests (5,930) (5,486)
Net cash provided by financing activities 10,413 5,591
Net decrease in cash and cash equivalents (1,328) (1,467)
Cash and cash equivalents, beginning of period 8,407 13,279
Cash and cash equivalents, end of period 7,079 11,812
Supplemental disclosure of cash flow information:    
Cash paid for interest 11,960 11,002
Accrued capital expenditures included in accounts payable, accrued expenses, and other liabilities 34,573 29,323
Series D Cumulative Redeemable, 30,000 shares issued and outstanding    
Distributions to:    
Preferred stockholders (1,149) (1,148)
Series E Cumulative Redeemable, 44,000 shares issued and outstanding    
Distributions to:    
Preferred stockholders $ (1,650) $ (1,650)