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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 13,451 $ 22,356
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss (gain) on investment property transactions (101) 2
Depreciation and amortization 86,230 75,770
Amortization of deferred financing costs and premium on notes payable 1,039 1,021
Equity-classified stock-based compensation expense, net of forfeitures 4,338 3,559
Effect of non-cash adjustments to rental revenues (15,984) (11,193)
Income from unconsolidated joint ventures (348) (673)
Operating distributions from unconsolidated joint ventures 787 1,299
Changes in other operating assets and liabilities:    
Change in receivables and other assets, net (5,614) (8,407)
Change in operating liabilities, net (55,506) (57,240)
Net cash provided by operating activities 28,292 26,494
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property acquisition, development, and tenant asset expenditures (72,317) (69,863)
Contributions to unconsolidated joint ventures (11,634) (23,984)
Net cash used in investing activities (83,951) (93,847)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from credit facility 171,200 165,000
Repayment of credit facility (64,100) (49,300)
Repayment of mortgages (2,113) (2,041)
Payment of deferred financing costs 0 (32)
Repurchase of shares withheld for taxes on restricted stock vestings (1,111) 0
Common dividends paid (48,576) (48,407)
Contributions from noncontrolling interests 0 738
Distributions to noncontrolling interests (236) (165)
Net cash provided by financing activities 55,064 65,793
NET DECREASE IN CASH AND CASH EQUIVALENTS (595) (1,560)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 6,047 5,145
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 5,452 $ 3,585