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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 64,924 $ 143,096
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales of investment in unconsolidated joint ventures 0 (56,260)
Loss (gain) on investment property transactions (505) 61
Depreciation and amortization 235,531 219,721
Amortization of deferred financing costs and premium on notes payable 3,102 (317)
Equity-classified stock-based compensation expense, net of forfeitures 9,209 7,526
Effect of non-cash adjustments to rental revenues (36,679) (29,524)
Income from unconsolidated joint ventures (2,008) (7,038)
Operating distributions from unconsolidated joint ventures 2,869 4,584
Loss on extinguishment of debt 0 100
Changes in other operating assets and liabilities:    
Change in receivables and other assets, net (6,979) 487
Change in operating liabilities, net 8,054 (10,088)
Net cash provided by operating activities 277,518 272,348
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from investment property sales, net 3,917 0
Proceeds from sale of interest in unconsolidated joint ventures, net 0 38,831
Property acquisition, development, and tenant asset expenditures (198,254) (262,822)
Return of capital distributions from unconsolidated joint ventures 10,924 10,752
Contributions to unconsolidated joint ventures (28,681) (35,193)
Net cash used in investing activities (212,094) (248,432)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from credit facility 291,300 340,000
Repayment of credit facility (203,400) (267,300)
Repayment of mortgages (6,178) (12,719)
Common stock issued under the ATM 0 103,120
Payment of deferred financing costs (71) (5,299)
Purchase of partners' interest in consolidated joint venture 0 (43,387)
Common dividends paid (145,858) (143,818)
Contributions from noncontrolling interests 1,440 2,164
Distributions to noncontrolling interests (876) (107)
Net cash used in financing activities (63,643) (27,346)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 1,781 (3,430)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 5,145 10,168
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 6,926 $ 6,738