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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 25,458 $ 22,751
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 3,626 3,719
Straight-line rental income (223) 279
Other amortization 731 591
Share-based compensation 2,565 2,988
Change in assets and liabilities:    
Rents receivable and other assets (793) (662)
Accounts payable, accrued expenses and other (9,097) (7,018)
Rent collected in advance 176 460
Net cash provided by operating activities 22,443 23,108
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate improvements (5,055) (1,175)
Cash used in investing activities (5,055) (1,175)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase and retirement of common shares (3,056) (3,395)
Distributions to common shareholders (2,036) (468,232)
Distributions to preferred shareholders (1,997) (1,997)
Distributions to holders of noncontrolling interest 0 (1,843)
Net cash used in financing activities (7,089) (475,467)
Increase (decrease) in cash and cash equivalents 10,299 (453,534)
Cash and cash equivalents at beginning of period 2,160,535 2,582,222
Cash and cash equivalents at end of period 2,170,834 2,128,688
SUPPLEMENTAL CASH FLOW INFORMATION:    
Taxes refunded, net 0 (9)
NON-CASH INVESTING ACTIVITIES:    
Accrued capital expenditures 5,433 1,710
NON-CASH FINANCING ACTIVITIES:    
Distributions payable 3,359 7,795
Conversion of Stock, Amount Issued $ 86 $ 0