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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Aug. 31, 2020
Aug. 31, 2019
Operating activities:    
Net (loss) income $ (1,654) $ 6,250
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 10,188 8,806
Noncash rental revenue including straight-line rents (1,798) (1,329)
Gain on sales of properties (825) (7,829)
Deferred income taxes (562) 689
Change in fair value of financial instruments 414  
Stock-based compensation expense 385 205
Amortization of debt issuance costs 321 211
Other   (182)
Changes in assets and liabilities:    
Other assets (3,525) (2,405)
Accounts payable and accrued liabilities 953 (355)
Deferred revenue 1,847 2,409
Other liabilities (1,423) 213
Net cash provided by operating activities 4,321 6,683
Investing activities:    
Acquisitions of land and buildings (13,670)  
Additions to real estate assets (10,172) (21,805)
Deferred leasing costs and other (1,212) (462)
Proceeds from sales of properties, net of expenses 1,094 9,475
Changes in short-term investments, net 1,011 7,989
Proceeds from sales of properties deposited in escrow   (2,217)
Net cash used in investing activities (22,949) (7,020)
Financing activities:    
Proceeds from sale of common stock 27,281  
Proceeds from mortgage loans 26,600 1,265
Principal payments on mortgage loans (6,650) (2,896)
Net repayments on revolving lines of credit (5,875)  
Dividends paid to stockholders (2,538) (2,279)
Proceeds from sale of warrants 2,018  
Payment of debt issuance costs (525) (33)
Proceeds from exercise of stock options 210 98
Net cash provided by (used in) financing activities 40,521 (3,845)
Net increase (decrease) in cash and cash equivalents 21,893 (4,182)
Cash and cash equivalents at beginning of period 5,874 8,592
Cash and cash equivalents at end of period $ 27,767 $ 4,410