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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 35,751 $ 27,874
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including below-market ground leases) 25,354 22,885
Amortization of deferred financing costs 1,028 969
Amortization of stock-based compensation 2,141 1,828
Straight-line rental income (937) (933)
Noncash interest income (21) (217)
Gain on sale of real estate 0 (2,051)
Interest income distribution from other real estate investment 463 0
Change in operating assets and liabilities:    
Accounts and other receivables, net (2,091) (2,837)
Prepaid expenses and other assets (185) (462)
Accounts payable and accrued liabilities 235 (4,940)
Net cash provided by operating activities 61,738 42,116
Cash flows from investing activities:    
Acquisitions of real estate, net of deposits applied (285,946) (47,310)
Improvements to real estate (68) (506)
Purchases of equipment, furniture and fixtures (2,613) (702)
Investment in real estate mortgage and other loans receivable (11,389) (1,390)
Principal payments received on real estate mortgage and other loans receivable 482 58
Repayment of other real estate investment 2,204 0
Escrow deposits for acquisitions of real estate 0 (2,250)
Net proceeds from the sale of real estate 131 13,004
Net cash used in investing activities (297,199) (39,096)
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net 196,041 47,547
Proceeds from the issuance of senior unsecured term loan 200,000 0
Borrowings under unsecured revolving credit facility 195,000 60,000
Payments on unsecured revolving credit facility (245,000) (75,000)
Payments on senior unsecured term loan (100,000) 0
Payments of deferred financing costs (4,534) 0
Net-settle adjustment on restricted stock (2,524) (1,288)
Dividends paid on common stock (37,685) (29,628)
Net cash provided by financing activities 201,298 1,631
Net (decrease) increase in cash and cash equivalents (34,163) 4,651
Cash and cash equivalents, beginning of period 36,792 6,909
Cash and cash equivalents, end of period 2,629 11,560
Supplemental disclosures of cash flow information:    
Interest paid 12,963 13,411
Supplemental schedule of noncash investing and financing activities:    
Increase in dividends payable 3,834 2,205
Right-of-use asset obtained in exchange for new operating lease obligation 1,010 0
Transfer of pre-acquisition costs to acquired assets 242 60
Increase in pre-acquisition costs payable $ 86 $ 35