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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 57,345 $ 51,563
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on disposition of property (181) 0
Depreciation and amortization of deferred leasing costs 36,102 36,227
Amortization of deferred debt costs 1,722 1,687
Non-cash compensation costs of stock and option grants 1,330 1,134
Credit losses on operating lease receivables, net 531 160
Increase in accounts receivable and accrued income (4,323) (731)
Additions to deferred leasing costs (4,920) (3,856)
Increase in other assets (1,770) (4,304)
Increase in accounts payable, accrued expenses and other liabilities 471 3,352
Increase (decrease) in deferred income 6,141 (192)
Net cash provided by operating activities 92,448 85,040
Cash flows from investing activities:    
Additions to real estate investments (20,773) (18,612)
Additions to development and redevelopment projects (124,419) (128,655)
Proceeds from disposition of property 181 0
Net cash used in investing activities (145,011) (147,267)
Cash flows from financing activities:    
Proceeds from mortgage notes payable 170,000 15,300
Repayments on mortgage notes payable (76,423) (33,910)
Proceeds from revolving credit facility 85,000 113,000
Repayments on revolving credit facility (173,000) (26,000)
Proceeds from construction loans payable 101,017 53,306
Additions to deferred debt costs (2,674) (423)
Proceeds from the issuance of:    
Common stock 1,785 1,642
Partnership units 14,862 0
Distributions to:    
Common stockholders (42,642) (42,527)
Noncontrolling interests (18,176) (16,458)
Net cash provided by financing activities 51,353 55,534
Net decrease in cash and cash equivalents (1,210) (6,693)
Cash and cash equivalents, beginning of period 8,407 13,279
Cash and cash equivalents, end of period 7,197 6,586
Supplemental disclosure of cash flow information:    
Cash paid for interest 35,572 34,424
Accrued capital expenditures included in accounts payable, accrued expenses, and other liabilities 32,884 33,495
Series D Cumulative Redeemable, 30,000 shares issued and outstanding    
Distributions to:    
Preferred stockholders (3,446) (3,446)
Series E Cumulative Redeemable, 44,000 shares issued and outstanding    
Distributions to:    
Preferred stockholders $ (4,950) $ (4,950)