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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 45,433 $ 62,327
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss on investment property transactions 2 41
Depreciation and amortization 156,039 140,605
Amortization of deferred financing costs and premium on notes payable 2,061 (130)
Equity-classified stock-based compensation expense, net of forfeitures 6,363 5,292
Effect of non-cash adjustments to rental revenues (23,721) (17,961)
Income from unconsolidated joint ventures (1,426) (6,404)
Operating distributions from unconsolidated joint ventures 2,033 3,161
Loss on extinguishment of debt 0 100
Changes in other operating assets and liabilities:    
Change in receivables and other assets, net (9,423) (2,463)
Change in operating liabilities, net (16,290) (26,879)
Net cash provided by operating activities 161,071 157,689
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property acquisition, development, and tenant asset expenditures (134,279) (172,206)
Return of capital distributions from unconsolidated joint venture 10,907 10,752
Contributions to unconsolidated joint ventures (26,299) (31,892)
Net cash used in investing activities (149,671) (193,346)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from credit facility 210,700 269,500
Repayment of credit facility (118,800) (192,000)
Repayment of term loans 0 (8,436)
Repayment of mortgages (4,100) 0
Common stock issued under the ATM 0 101,668
Payment of deferred financing costs (71) (5,299)
Purchase of partners' interest in consolidated joint venture 0 (43,387)
Common dividends paid (97,269) (93,697)
Contributions from noncontrolling interests 1,384 2,520
Distributions to noncontrolling interests (358) (92)
Net cash provided by (used in) financing activities (8,514) 30,777
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 2,886 (4,880)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 5,145 10,168
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 8,031 $ 5,288