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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Apr. 30, 2020
Apr. 30, 2019
Operating activities:    
Net income $ 25,115 $ 1,265
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 5,462 5,607
Amortization 786 851
Unrealized loss on interest rate cap contract 159
Stock based compensation expense 24 69
Trustee fees, consultant fee and related interest paid in stock units 377 502
Gain on sale of property (836)
Gain on deconsolidation of subsidiary (27,680)
Loss on investment in tenancy-in-common 18
Deferred interest on mortgages 154
Deferred rents - straight line rent (121) (187)
Bad debt expense 700 68
Changes in operating assets and liabilities:    
Tenants' security accounts (117) 112
Accounts receivable, prepaid expenses and other assets 173 1,421
Accounts payable, accrued expenses and deferred trustee compensation payable (4,234) (744)
Deferred revenue (515) (203)
Due to affiliate - accrued interest 126 143
Net cash provided by operating activities 268 8,227
Investing activities:    
Capital improvements - existing properties (826) (1,543)
Deconsolidation of subsidiary cash and cash equivalents (1,383)
Proceeds from sale of commercial property 7,060
Net cash (used in) provided by investing activities (2,209) 5,517
Financing activities:    
Repayment of mortgages (2,032) (7,378)
Deferred financing costs (56)
Dividends paid (1,357) (1,351)
Distributions to noncontrolling interests (583) (686)
Net cash used in financing activities (3,972) (9,471)
Net (decrease) increase in cash, cash equivalents and restricted cash (5,913) 4,273
Cash, cash equivalents and restricted cash, beginning of period 42,488 26,394
Cash, cash equivalents and restricted cash, end of period 36,575 30,667
Supplemental disclosure of cash flow data:    
Interest paid, net of amounts capitalized 7,020 8,175
Operating activities:    
Commercial tenant security deposits applied to accounts receivable 384
Investing activities:    
Accrued capital expenditures, construction costs, pre-development costs and interest 161 155
Financing activities:    
Dividends declared but not paid 848
Dividends paid in share units 46
Vested share units issued to consultant and retired trustee 1,467 574
Deconsolidation of subsidiary:    
Real estate, at cost, net of accumulated depreciation (36,225)
Accounts receivable, net of allowance for doubtful accounts (55)
Prepaid expenses and other assets (315)
Mortgage payable 48,000
Unamortized debt issuance costs (489)
Accounts payable and accrued expenses 353
Tenants' security deposits 585
Deferred revenue 47
Deconsolidation of subsidiary cash and cash equivalents (1,383)
Net carrying value of assets and liabilities deconsolidated 10,518
Recognition of retained investment in tenancy-in-common at fair value 20,758
Derecognition of noncontrolling interest in subsidiary $ (3,596)