XML 23 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Jul. 31, 2014
Jul. 31, 2013
Operating activities:    
Net income $ 11,466 $ 4,705
Adjustments to reconcile net income to net cash provided by operating activities (including discontinued operations):    
Depreciation 4,654 4,543
Amortization 494 473
Net amortization of acquired leases 16 18
Gain on sale of discontinued operations (8,734) (1,377)
Income tax adjustment on gain on sale of discontinued operation   (720)
Changes in operating assets and liabilities:    
Tenants' security accounts (36) 139
Accounts and straight-line rents receivable, prepaid expenses and other assets (904) (109)
Accounts payable, accrued expenses and deferred trustee compensation 993 387
Tenants' security deposits 64 (161)
Deferred revenue (85) (451)
Net cash provided by operating activities 7,928 7,447
Investing activities:    
Capital improvements - existing properties (3,236) (1,115)
Construction and pre-development costs (22,244) (3,175)
Regency acquisition - net of proceeds held in escrow (10,855)  
Secured loans receivable to noncontrolling interest (2,128)  
Net cash used in investing activities (38,463) (4,290)
Financing activities:    
Repayment of mortgages and construction loan (12,268) (44,791)
Repayment of credit line (2,000)  
Proceeds from mortgage loan refinancings 19,700 42,750
Proceeds from construction loan 31,928  
Proceeds from credit line 10,000  
Deferred financing costs (2,582) (987)
Dividends paid (8,734) (5,554)
Repurchase of Company stock-Treasury shares (357)  
Additional investment by noncontrolling interest 2,128  
Distributions to noncontrolling interests (765) (462)
Net cash provided by (used in) financing activities 37,050 (9,044)
Net increase (decrease) in cash and cash equivalents 6,515 (5,887)
Cash and cash equivalents, beginning of period 7,801 10,610
Cash and cash equivalents, end of period 14,316 4,723
Supplemental disclosure of cash flow data:    
Interest paid, net of amounts capitalized 7,503 8,291
Income taxes paid   1,245
Investing activities:    
Proceeds from sale of discontinued operation, held in escrow pending 1031 exchange, and applied to acquisition of replacement property 9,768 1,461
Accrued capital expenditures, construction costs, pre-development costs and interest 4,986 1,854
Financing activities:    
Dividends declared but not paid $ 2,077 $ 2,083